Latest vacancies at the African Development Bank Group (AfDB)

Position Number: 50092454
Location: Abidjan, Cote d'Ivoire
Position Grade: PL2

The Complex

• The Vice Presidency for Finance (FIVP) oversees the financial management of the Bank Group.
• This encompasses the Bank Group’s treasury activities including borrowings from the capital markets and investment activities; controllership functions including financial reporting and loan administration; strategic resource mobilization and the strengthening of the non-statutory financial resources and instruments; the overall asset/liability management for the Bank Group.
• The Vice Presidency for Finance is also responsible syndications, co-financing as well as the innovation, development and marketing of the Bank’s financial products and services. In addition, the Administrator of the Staff Retirement Plan reports to the Vice-President Finance.

The Hiring Department

• The Syndications Co-Financing and Client Solutions  Department (the “Department”) is responsible for the syndication and co-financing of all the Bank’s transactions including but not limited to balance sheet management through secondary market sales , regulatory capital compliant insurance structures, and securitization of the Bank’s asset portfolio in line with the Bank’s resource mobilization and leveraging strategy. Additionally, the Department is responsible for the design and introduction of new financial products as well as the provision of structured finance solutions to the Bank’s clients.
• The role of the Client Solutions Division (the “Division”) is the innovation, development, and marketing / dissemination of the Bank Group’s financial products as well as its local currency funding operations.
• The Division is responsible for managing Balance Sheet Optimization (“BSO”) transactions, working closely with the Bank’s Group Risk, Financial Management, Financial Control and Legal Departments. The Department also provides financial technical expertise and advisory services on project teams supporting task managers in originating, structuring, appraising, negotiating, restructuring, secondary sales and closing of transactions.
• The Division has the additional responsibility for the lending rate management of the Bank and in assisting Bank’s clients to manage market related risk through derivative based hedging solutions. 

The Position
Under the Supervision of the Director, the Division Manager has the responsibility to:

• ­Design products and financial services that are competitive, responsive to the evolving needs of the clients and consistent with the development objectives of the Bank and specifically the High5s.
• Design and develop Balance Sheet Optimization instruments to enhance the management of the Bank’s capital and lead the efficient and effective deployment of the Bank Group’s risk instruments.
• Provide financial technical expertise and advisory services to project teams, support task managers in originating, structuring, appraising, negotiating, restructuring, secondary sales and closing of transactions.
• Assist Bank’s clients to manage risk through customized derivative based hedging solutions.
• Lead the Bank's initiative to develop African capital markets through the provision of long-term local currency funding solutions and swaps.
• Lead the general dissemination and implementation of the Bank Group’s financial products, including developing and delivering training workshops, awareness and capacity building for Bank’s staff and clients.

Key Functions
The Division Manager will undertake the following functions:

People Management:

• Manage staff performance in line with the Bank’s guidelines, ensuring that clear objectives are set and agreed upon with the team in the work program and that annual performance cycles are effectively managed in line with the Bank’s calendar.
• Mentor, coach, and guide staff ensuring their clear understanding of their roles and promote a supportive work environment that is responsive to personal development of staff, ongoing feedback, and development, including long term career development.

Development of innovative Financial Products and Balance Sheet Optimization Products:

• Design and implement new and/or enhanced financial products for financing, leverage of Bank Capital and for risk management purposes; write product specifications, technical guidelines, and implementation modalities for the Bank’s financial products.
• Design and implement innovative balance sheet optimization structures including but not limited to cash and synthetic securitization, insurance, complex guarantee structures, credit default swaps etc.
• Coordinate and develop the Bank’s relationship with the global and regional private insurance market, and multilateral insurance institutions to help mobilize regulatory capital compliant insurance solutions to optimize the Bank’s balance sheet management.
• Work to expand the Bank’s syndication capacity with third parties such as Life Insurers and Asset Managers, to create off-balance sheet structures whereby these entities participate on a funded basis into the Bank’s assets either in single loan and/ or portfolio structures.
• Monitor the performance of products and services, and where necessary, analyze, develop, and implement changes to existing product range to ensure that they continue to adequately meet borrower needs.
• Manage the preparation of product competitor analysis and keep abreast of financial innovation, monitor economic and political trends in the international capital and money markets, and assess their impact on the Bank’s competiveness.
• Support the general dissemination of the Bank’s financial products. This involves developing and delivering training, marketing, and communication modules, helping to resolve important funding and risk management issues, and applying a broad knowledge of financial markets and operational issues of each product to ensure high quality outcomes for the Bank and its clients.
• Provide financial advisory and technical services including debt management and an understanding of Bank products and financial services to clients.
• Build and maintain highly effective and successful relationships with key internal and external stakeholders, including financial advisors, investment banks, multilateral development banks, private and multilateral insurance companies, and other financial institutions.

Financial Solutions, Advisory on Finance and Technical Expert Support:

• Provide financial technical expertise and advisory services on project teams in originating, structuring, appraising, negotiating, restructuring, secondary sales and closing of transactions in various sectors utilizing the breadth of available instruments.
• Lead the expansion of Bank’s project pipeline targeted to mobilize private sector financing. This includes (i) identification of opportunities and candidates, and (ii) relationship building and management with both internal clients and external clients (banks, institutional investors, private project participants etc.). 
• Review and negotiate complex project documentation, including mandate letters, term sheets, loan agreements and common term agreements.
• Lead the Divisions interventions in supporting task managers developing guarantee transactions (for e.g., but not limited to infrastructure projects and capital market financings), including support during upstream preparation, structuring, negotiation, and closing of the transactions. Draft, as appropriate, project related documentation, including guarantee term-sheets and in collaboration with Legal Counsel, finalize the terms and conditions of Bank’s support. Contribute to the operational documents and provide support for internal processing, review transaction agreements, and coordinate across project components with other team members.
• Support task managers to design appropriate structures and solutions to meet the growing and evolving needs of clients.
• Develop a fair and equitable pricing of the Bank’s lending products and assist Bank’s clients in their debt management strategies through the design of customized derivative based hedging solutions.
• Assist clients in developing expertise and maintain appropriate systems for identifying and assessing risks associated with their external liabilities.

Domestic Capital Markets Funding: 

• Lead the Bank’s initiative to issue domestic bonds in African Capital markets and on-lend to projects.
• Manage the process of local currency papers preparation to seek President’s approval to designate specific regional member countries currencies as approved lending currencies of the Bank and thereafter establish medium term note programs in the underlying countries.
• Lead the development of local currency funding strategies for Bank’s projects utilizing domestic bond issuance, cross currency swaps or synthetic derivative structures.
• Design structured transactions (partial credit guarantees, securitizations, credit enhancements, and risk sharing facilities) to assist clients mobilize local currency in domestic capital markets or through syndicated loan structures or commercial lenders.

Management of the Division - Contributing to the Development and Adaptation of Financial Policies and Programmes:

• Ensure that the division’s operations, processes, and controls are strong and effective to ensure positive compliance of audit outcomes.
• Mitigate operational risk by ensuring that the division’s procedure manual is always updated and ensuring compliance with internal procedures and practices.
• Lead the design and implementation of a marketing strategy for the Division, both to internal and external clients.
• Chair or participate as a key member of all the Asset and Liability Management Committee working groups and in technical working groups.
• Provide input on strategic issues and policy dialogue concerning the Bank’s corporate business.
• Perform other duties as assigned by the supervisor.

Competencies (Skills, Experience and Knowledge)

• Hold at least a Master's Degree in Finance / Banking, Business Administration, Economics, Accounting, or related discipline.  A professional qualification in one of the fields is an added advantage.
• A Chartered Financial Analyst (CFA) charter holder or ICMA will be a plus.
• Have a minimum of eight (8) years of relevant professional experience with good market knowledge – particularly in relation to transaction structures, products, balance sheet optimization structures, fixed income, derivatives, equity, African capital markets, due diligence and financial analysis of project finance and corporate finance lending and equity investments, risk management instruments.
• Proven experience in structuring balance sheet optimization transactions.
• Knowledge of market instruments and market sources of financing (sovereign bond financing, municipal/sub-sovereign financing, syndicated lending/infrastructure finance), other sources of financing (e.g., other IFIs, export credit agencies, concessionary bilateral financing, etc.); and risk management/hedging products (e.g., swaps, forwards, futures, options, etc.).
• Knowledge of fund raising and on-lending activities in developing capital markets, particularly in Africa.
• Excellent understanding of financial issues affecting sovereign and non-sovereign clients in developing countries and policy associated with the Bank’s mandate.
• A full understanding of the capital markets and demonstrated understanding of project finance and the use of risk mitigation instruments to catalyze private capital. 
• Strong customer focus, ability to interface effectively with clients and business contacts at a senior level and work successfully as part of a team.
• Demonstrated leadership in creative financial engineering and a track record of supporting various financing structures utilizing various financial instruments.
• Strong background in investment and development banking with experience in working with private sector projects, state owned entities, utilities/infrastructure authorities and government
•  Competence with standard MS Office software applications, particularly Word, PowerPoint, and Excel including SAP.
•  Competence in the use of Treasury Systems – Summit, Reuters, and Bloomberg applications
• Ability to communicate effectively (written and oral) in English or French, preferably with a working knowledge of the other language.

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Position Number: 50052675
Location: Abidjan, Cote d'Ivoire
Position Grade: PL3

The Complex

• The main focus of the Vice Presidency for ‘Private Sector, Infrastructure and Industrialization’ (PIVP) is on: (i) developing the private sector. (ii) deepening the financial sector. (iii) improving infrastructure (transport, urban development, and ICT). (iv) accelerating industrialization. and (v) boosting intra-African trade. 
• PIVP plays the lead role in: (i) originating and supervising Non-Sovereign Operations (NSO) in PIVP Sectors. (ii) coordinating NSO processes. (iii) developing and sharing relevant Sector Knowledge. (iv) supporting the Regions on Sovereign sector operations. and (v) managing Complex Sovereign operations.  PIVP combines analytical work and policy dialogue in its sector with financing of specific operations, including loans or equity investments.
• The role of the Infrastructure and Urban Development Directorate is to foster infrastructure and urban development in Africa through appropriate policies and strategies as well as projects and programs interventions, which the Bank might finance on national, regional or continent-wide basis.
• This Directorate comprises of four divisions: Transport & Logistics, Urban Development, Infrastructure Partnerships, and NSO Infrastructure.
• The “NSO Infrastructure” division has the responsibility to structure and originate non-sovereign infrastructure investments in transport (Roads, Highways, Bridges, Railways, Ports, Airports, Pipelines, Logistic Platforms) and Urban Development (Urban Mobility, Public Transportation, Cities, Housing).

The Position

• The core responsibilities of this position is to identify business opportunities and structure transactions related to private investments in transport and urban development infrastructures and services and originate projects for Bank financing.

Key Functions
Under the overall supervision and guidance of the Division Manager the Chief investment officer will:

Project Development and Processing:

• Liaise and coordinate with other Investment Officers and Bank staff in business development and the origination of a good quality investment pipeline.
• Proactively identify potential investment partners and opportunities based on industry experience, reputation, market potential, financial capability, and strategic fit.
• Assess the attractiveness of specific investment opportunities with a strong focus on credit quality and development impact and make recommendations management.
• Build and maintain strong relationships with other departments, clients, banking and multilateral partners and government officials to develop specific investment opportunities.
• Prepare project concept notes and appraisal reports for presentation to the department, review committees, senior management and finally the Board of Directors.
• Execute loans, guarantees or equity financing including processing mandates, conducting due diligence, structuring deals, negotiating terms and documentation, arranging syndications, and processing internal approvals.
• Coordinate with sector colleagues, the internal approvals to proactively find pragmatic solutions to emerging/specific sector challenges.
• Develop investment promotion strategies in Africa, including targeting potential investors and promoting AfDB's products and services proactively.
• Work with the legal department to ensure that all deals have appropriate legal documentation and that financial close is achieved, and hand over projects to portfolio management staff.

Design specific innovative transactions, projects and initiatives:

• Undertakes the work on aspects of investments and infrastructure development and aligns them with institutional objectives.
• Works with regional teams/country offices to design and implement sector development support programs.
• Evaluate, structure, negotiate, and close new transactions, with a strong focus on credit and asset quality (include processing mandates, due diligence, negotiating term sheets and other documentation, syndications and board approval).
• Provide support to others and portfolio teams in processing and supervising projects

External Liaison and Knowledge Sharing:

• Contribute to the documentation of lessons learned from investment operations and emerging best practices in areas of expertise
• Participate in and contribute to information and experience sharing sessions with internal and external stakeholders
• Participate in and contribute to activities for advocacy, dissemination and knowledge building relating to AfDB’s investments/operations, products and initiatives.
• Provide peer review to other colleagues to share industry knowledge and information on respective sector
• Provide technical leadership and support to knowledge and lesson sharing approaches and events with internal and external stakeholders.
• Build and maintain strong relationships with clients, banking and multilateral partners and government officials to develop specific investment opportunities.

Policy and Project Evaluation:

• Provide input and comments on project, policy and other papers related to respective sector operations and development across a range of key themes and sectors.

Strategy, Planning and Reporting:

• Participate in relevant teams for planning and programming purposes.
• Contribute to develop sector strategies at regional level
• Assist in the development of the relevant Department’s knowledge management strategy and assist in execution of the strategy.
• Coordinate closely with social, environmental, advisory and technical assistance colleagues in order to champion AfDB’s value to our clients' businesses, find pragmatic solutions to the specific sector challenges, and achieve sustainable development impact.

Competencies (Skills, Experience and Knowledge)

• At least a Master's Degree in Business Administration, Finance, Economics or in related areas, a professional qualification such as: Chartered Financial Analyst (CFA), Chartered Accountant (ACCA) is an added advantage.
• Have a minimum of Seven (7) Years of professional experience in financial structuring and infrastructure project finance origination gained from a Commercial/Investment Bank, Development Finance Institution, Infrastructure/Private Equity Fund, Sovereign Wealth Fund, Project Developer, established Accounting/Consulting Firm etc.
• Having private sector experience will be an added advantage.  Working experience in multinational organization or similar organization/s in Africa and emerging markets would be considered an advantage as well.
• Proven ability to identify, process, and negotiate complex transactions in the infrastructure sector from a private sector standpoint and in particular related to transportation assets and services.
• Thorough understanding of the Transport infrastructure and related services, in particular, Ports, Airports, Highways and Mass Transit Systems, and Infrastructure markets.  A familiarity of PPP infrastructure project development is an advantage.
• Strong analytical and financial structuring/ modeling skills as well as sound business judgment.
• Demonstrates ability to coordinate, participate in, and act as a catalyst for, strategic cross-sector dialogues within the networks, across the country, among Bank colleagues and other development institutions, governments and other organizations.
• A familiarity with climate finance and project development experience in climate resilient infrastructure is an would be considered an advantage.
• Ability to contribute to sound decisions and contribute to the execution of the decisions
• Ability to initiate, effectively and independently interact with the senior government officials, senior management of potential clients
• Strong commitment to search for and produce innovative and creative approaches to activities in order to enhance performance and create added benefits to the Bank and its clients.
• Excellent problem-solving capabilities applies business knowledge to the resolution of problems and identifies solutions to the benefit of the client (internal and external) and the organization.
• Excellent organizational, administrative, and time management skills
• Proven ability to work with limited supervision and efficiently to deliver under pressure and meet tight deadlines.
• Ability to communicate orally and in writing effectively in English and/or French. A good knowledge of the other working languages (e.g. Arabic, Portuguese) would be considered an advantage.
• Competence in the use of standard Microsoft Office applications (Word, Excel, Access, PowerPoint).