Chief Investment Officer at African Development Bank - AfDB

The primary role of the Financial Sector Development Department (OFSD) is to help the regional member countries (RMCs) increase reach (e.g. financial inclusion), depth (e.g. financial intermediation), and breadth of financial systems (e.g. capital market, cross-border development). The mission of the Department has four long-term objectives: (i) development of a vibrant private sector through an inclusive access by households and enterprises to financial services; (ii) strengthening markets participants; (iii) developing efficient capital markets, and (iv) deepening regional financial integration.

The Financial Institutions Division (OFSD1) of OFSD focuses on supporting FIs to on-lend to infrastructure, agribusiness, women businesses, SMEs, etc. In particular the Division: (1) engages in intermediation through FIs (primarily commercial Banks as well as credit unions, savings banks, post offices, etc.); (2) Conducts rigorous evaluations of FIs to extends support to enhance FIs on-lending to SMEs; (3) Engages in dialogue with apex bodies and initiatives to promote access to finance; (4) Supports equity investments in the FSD ecosystem, and incubates work on remittances, collateral registries, credit bureaus, etc.

The Chief Investment Officer will work under the guidance and supervision of the Division Manager.
Her/His duties and responsibilities will include:

• Guiding more junior staff in their work and act as Officer Staff in absence of the Division Manager
• Designing specific innovative transactions, projects and initiatives that will contribute to improved access to finance, market functioning and inclusive growth 
• Leading the preliminary evaluation of both lending and non-lending projects, including screening of project applications, desk reviews and evaluation of feasibility studies, preparing preliminary evaluation notes and more detailed project concept notes to obtain concept clearance for full appraisal or fact-finding missions;
• Leading the planning and execution of appraisal and fact-finding missions. This includes developing terms of reference for the mission and for short-term consultants to be engaged for the mission, coordinating the work of the mission team which usually includes professional staff from other departments within the Bank, and carrying out independent research. The work also includes assessing the risks of projects and advising on appropriate structure or conducting preliminary negotiations with sponsors;
• Leading the preparation of project appraisal reports for presentation to the Department, the various review committees and finally to the Board of Directors. Develop innovative and appropriate financial structures for complex transactions;
• Ensuring that all conditions precedent have been fulfilled on a timely basis and all fees are billed and collected from clients;
• Developing relationships within the Bank and with other institutions involved in financial markets and financial institutions; represent the Bank at and participate in seminars, workshops and conferences dealing with access to finance, financial markets, (M)SMEs;
• Playing an active role in coaching and mentoring more junior investment officers;
• Lead and or prepare technical assistance proposals with the aim to build capacity of financial institutions or other market players involved in enhancing the market supply and demand for credit. Ensure the approval, disbursement and implementation of such TA projects are done successfully.
• Coordinating closely with social, environmental and technical assistance colleagues in order to add value to our clients’ businesses, find pragmatic solutions to the specific sector challenges, and achieve sustainable development impact;
• Assist in integrity due diligence for potential clients;
• Maintaining knowledge of African financial markets/transaction structuring and provide market intelligence;
• Building and maintaining strong relationships with clients, global and regional private businesses, banking and multilateral partners to deepen the financial sector and to develop specific investment opportunities.

Including desirable skills, knowledge and experience

At least a Master’s or its equivalent in Development Economics, or any other discipline that is relevant to the  operations of the Bank; strong knowledge of socio-economic development issues and policies of African countries.
Preferably a minimum of eight (8) years of relevant professional experience;

• Demonstrated good knowledge of RMCs or developing economies, the capacity of conceptual and strategic analysis, and good command of undertaking comprehensive due diligence including financial analysis of financial institutions, including banks, non-bank financial institutions and private equity funds;
• Demonstrated good knowledge of applying a variety of financial intermediation instruments such as debt, equity, guarantees, and other complex financial deal structuring;
• Ability to identify possible shortcomings of client (financial) institutions and to propose solutions, formulated through detailed technical assistance proposals;
• Capacity to conduct independent research and analyses, identify problems, propose solutions, and make recommendations to Management.
• Capacity to present and defend the consistency of proposed programs and projects. Capacity to work within specified time limits;
• Ability to interact directly and independently with senior management of potential clients, financial and technical partners, and government officials, and colleagues from various cultural backgrounds;
• Excellent communication and organizational skills to support and guide more junior staff and to manage the division in absence of the substantive manager.