Principal Financial Risk Officer - FIFM1 at African Development Bank - AfDB

Reference: ADB/18/218
Location: Côte d’Ivoire
Grade: PL4
Position N°: 50058425
Publication date: 05/11/2018
Closing date: 04/12/2018

The Complex

• The Vice Presidency for Finance 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 Hiring Department/Division

• The role of the Financial Management Department (FIFM) is to develop and promulgate policies and guidelines relating to the financial management for the Bank Group. It also ensures internal consistency of all financial policies and guidelines, including those initiated and developed by the other departments in the Bank, as well as monitors and reports on compliance.
• The Asset and Liability Management Division is responsible for developing and directing the Asset and Liability Management functions of the Bank Group entities, including financial policies, financial modelling and projections and balance sheet management activities involving risks related to changes in interest rates, exchange rates and the liquidity position

The Position
The  responsibilities of the Principal Financial Risk Officer are to:

• Formulate and periodically review ALM policies and guidelines.
• Prepare and periodically update financial projections for the ADB, ADF and NTF.
• Ensure that Financial Risk Management limits are maintained within Board approved limits and the Asset and Liability Management Committee (ALCo) operating guidelines;
• Support the Bank Group’s resources mobilization efforts through the production of relevant data, projections, financial analyses and reports.
• Design, upgrade, implement and maintain the ALM Analytics System/Processes and financial models used by the Division to maintain an adequate risk management infrastructure

Duties and Responsibilities
Under the supervision of  the Division Manager - FIFM1 the Principal Financial Risk Officer will perform the following:

• Formulate and periodically review the asset liability management policies and guidelines for the ADB, ADF and NTF.
• Develop, implement back-tests and monitor key financial models that drive the risk profile of the Bank Group’s balance sheet and income margin.
• Contribute to the elaboration of the Bank’s annual medium-term financial performance outlook (MTFO) paper and the Programme and Budget Document (PBD).
• Conduct pricing, valuation, and behavioral analysis of Balance Sheet products in order to ensure a fully integrated risk analysis.
• Lead the study of specific products and how their structure should be modeled in order to reflect how their profiles impact the Bank Group risk profile.
• Prepare background working papers on the Bank’s and Fund's resource mobilization initiatives such as general capital increases and ADF replenishments.
• Keep abreast of all ALM risks -related regulatory developments and industry best practice – particularly through the development of a strong network with peers at other major MDBs and active participation to international forums on ALM and financial management topics.
• Lead the secretariat to the Asset and Liability Management Committee and the relationships with ALCo working groups.
• Maintain of the integrity of Risk management Analytics System/Processes with consideration for data, assumptions, processes and reporting through automation, reconciliation, and documentation.

Selection Criteria
Including desirable skills, knowledge and experience:

• Hold at least a Master's Degree in Finance, Banking, Business Administration, Management Information Systems or in similar quantitative disciplines.
• Have a minimum of Six (06) years of relevant experience in a bank or a similar financial institution or a related consulting role, with at least 3 years in an ALM role or a related role in financial risk management.
• Experience in the preparation of Asset/Liability management policy documents, Capital Adequacy policy documents and guidelines for a MDB or a commercial Bank.
• Experience with an MDB or in the financial services industry with emphasis on quantitative risk, highly valuable.
• Expert knowledge of balance sheet management and complex financial instruments;
• Excellent analytical and problem solving skills
• Experience of forecasting P&L and balance sheet of a financial services / banking entity.
• Good project management skills
• Knowledge of SAP and SUMMIT is advantageous
• Ability to communicate effectively (written and oral) in English or French preferably with a working knowledge of the other.
• Competence in the use of standard MS office applications (Word, Excel, Access, and PowerPoint) and SAP.