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

Reference: ADB/17/321/3
Location: Côte d’Ivoire
Grade: PL3
Position N°: 50093769

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 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 Chief Financial Risk Officer ensures that Asset and Liability Management exposures are identified, measured and reported and, where necessary, mitigated.
• He/she provides analytical expertise for assessing the financial impact of strategies, initiatives, products, etc. on Bank Group entities and ensures that financial risks are maintained within Board approved limits and the Asset and Liability Management Committee guidelines.

Duties and Responsibilities

• Under the supervision and guidance of the Division Manager, Asset and Liability Management, the Chief Financial risk Officer will perform the following:
• Lead the formulation and periodic review of asset liability management policies and guidelines for the African Development Bank, the African Development Fund and the Nigeria Trust Fund.
• Co-ordinate the upgrade and update the Bank Group’s medium and long-term financial projections models for the African Development Bank, African Development Fund and Nigeria Trust Fund.
• Lead the preparation of the Bank’s annual medium-term financial performance outlook paper, accompanying Board seminar and the Programme and Budget exercise
• 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.
• Lead the preparation of background working papers on the Bank’s and Fund's resource mobilization initiatives such as general capital increases and African Development Fund replenishments.
• Co-ordinate the preparation of quarterly reports on currency, interest rate and liquidity risk and on financial projections.
• Provides advisory support on all issues relating to asset/liability management and participate in appropriate working groups of the asset and liability management committee.
• Contribute to the preparation of the Bank Group’s annual market risk review.
• Ensure the appropriateness of the Asset and Liability Management IT infrastructure and the integrity of Risk management Analytics System/Processes with consideration for data, assumptions, processes and reporting through automation, reconciliation, and documentation.
• Keep abreast of all Asset and Liability Management 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 Asset and Liability Management and financial management topics.

Selection Criteria
Including desirable skills, knowledge and experience:

• Hold at least a Master's degree or its equivalent in a quantitative field (Finance, Statistics, Mathematics, Economics and/or other relevant fields). CFA or FRM/PRM professional qualification is advantageous.
• Have a minimum of seven (7) years of relevant professional experience in a bank, similar financial institution or related consulting role, with at least five (05) years in an Asset and Liability Management or related role in financial risk management.
• Having private sector experience will be an added advantage.
• Experience with a Multilateral Development Bank is highly desirable.
• Strong ability to guide and supervise a small team.
• Expert knowledge of balance sheet management and complex financial instruments, with proven experience in the implementation of Asset and Liability Management frameworks and financial modelling, forecasting P&L and balance sheet of financial services/banking entity.
• Strong analytical, pproblem solving and project management skills.
• Good understanding of relational databases and development languages (e.g. SQL, VBA).
• Ability to communicate effectively (written and oral) in English or French, preferably with a working knowledge of the other language.
• Competence in the use of standard software (Word, Excel, Access, PowerPoint).