Senior Financial Quantitative Risk Officer, FIFM.1 at African Development Bank - AfDB

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 responsibilities of the Financial Risk Officer are to:

• Prepare and periodically update financial projections for the ADB, ADF and NTF.
• 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 IT Analytics System/Processes and financial models used by the Division to maintain an adequate risk management infrastructure

Duties and Responsibilities
Under the supervision and guidance of the Division Manager, Asset and Liability Management, the Financial Risk Officer will perform the following:

• Develop, implement back-tests and monitor key financial models that drive the risk profile of the Bank Group’s balance sheet and income margin.
• Liaise with the IT Department for the development or enhancement of the ALM IT infrastructure.
• Contribute to the elaboration of the Bank’s annual medium-term financial performance outlook (MTFO) paper and the Programme Budget Document (PBD).
• Accountable for the development and production of the quarterly financial projections report contained in the “ALCo pack”, which is the prime set of documents used to make strategic decisions pertaining to the ongoing management of the Bank Group’s balance sheet and the continuing development of margin enhancing operations.
• Identify and explain variance in financial key indicators.
• Model the structure of specific/ new products in order to reflect how their profiles would impact the Bank Group’s financial position and overall risk profile.
• Responsible for the maintenance of the integrity of Risk Management Analytics System/Processes with consideration of data, assumptions, processes and reporting through automation, reconciliation, and documentation.
• Prepare background working papers on the Bank’s and Fund's resource mobilization initiatives such as general capital increases and ADF replenishments.
• Provide diligent response to analytic requests from senior management, generated in the requested format or, in the absence of a suggestion, in a format that will be most useful to the senior manager's purpose.
• Keep abreast of all ALM risks -related regulatory developments, industry and major MDBs (Multilateral Development Bank) best practices.

Selection Criteria

• Hold at least a Master's degree or its equivalent in a quantitative field (Finance, Statistics, Mathematics, Economics, IT engineering and/or other relevant fields). CFA or FRM/PRM professional qualification is advantageous.
• Have a minimum of five (5) years with proven track record in the financial field or a related consulting role, with at least 2 years’ experience in forecasting P&L and balance sheet of a financial services / banking entity.
• Experience with an MDB with emphasis in quantitative risk, highly valuable
• Detailed financial knowledge and a solid understanding of accounting theory, financial risks and complex financial instruments
• Experience of forecasting P&L and balance sheet of a financial services / banking entity.
• IT data computer experience, maintenance of information system and specialist knowledge of statistical modelling techniques
• Problem Solving: Applies business knowledge to the resolution of problems and identifies solutions to the benefit of the client (internal and external) and the organization
• Operational effectiveness: ability to function effectively with deadlines and whilst under pressure
• Team Working and Relationships: Works with others to maximize the effectiveness of the team as a whole, sharing the knowledge and workload. Develops strong working relationships with colleagues and contributes to creation of a positive team environment.
• 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).