Division Manager, Capital Markets and Financial Operations - FTRY1 at African Development Bank - AfDB

Grade: PL-2
Position N°: 50000898
Reference: ADB/16/115

THE COMPLEX:
The Vice Presidency for Finance (FNVP) 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 Finance Complex is also responsible for the development of and training on the financial products of the Bank Group. In addition, the Administrator of the Staff Retirement Plan (SRP) reports to the Vice President FNVP.

THE HIRING DEPARTMENT/DIVISION:
The role of the Capital Markets and Financial Operations Division (FTRY1) is among others, to:  (i) Raise cost effective resources from the capital markets; the 2015 borrowing program has been set at about USD 6 billion; (ii) Contribute to the Capital Increases process and administer the subscriptions of shareholders to the capital of the African Development Bank (ADB). The ADB has 80 member countries and an authorized capital of about USD 100 billion; (iii) Contribute to the African Development Fund (ADF) replenishment negotiations and administer the subscriptions of donors to the ADF and Multilateral Debt Relief Initiative (MDRI); cumulative subscriptions by donors to ADF is about USD 35 billion; and (iv) prepare the Financial presentation document of the Bank.

The Division must target financial instruments, structures and markets that will allow the Bank to raise funds at the most attractive levels as such levels determine the competitiveness of the Bank and its ability to fulfil its development mandate.  Its activities should also be handled in the context of maintaining the Bank Group’s strong financial integrity, robust risk management framework as well as its overall objectives, policies and guidelines. The candidate will also be responsible for executing asset and liability management transactions to optimise borrowing costs; contribute to the Bank’s efforts in ensuring that it maintains its ‘AAA’ credit ratings; and promote the Bank’s image among shareholders, market participants, notably rating agencies, investment banks and investors. The Division also participates in all negotiations for capital increases of the Bank and replenishment of the Fund, and implements the resolutions related thereto, including managing the subscriptions and contributions of shareholders.

THE POSITION:
Under the supervision of the Director Treasury Department (FTRY), the Division Manager will principally be responsible for the implementation and execution of the African Development Banks annual borrowing program as approved by the Board of Directors. This will entail raising resources from the capital markets in a cost effective manner with view to financing the Banks clients at attractive levels as well as in meeting the Bank’s liquidity and cash requirements  The Division Manager will among other activities ensure strict compliance with guidelines prescribed by the Bank’s financial regulations and long-standing practices, relevant operating procedures manuals, the Asset and Liability Management (ALM) guidelines as well as apply best practices for the funding of capital markets transactions and keeping abreast of trends in those markets and reporting these as appropriate to the relevant organs of the Bank. The Manager will develop and lead the Division’s work program and is responsible for attainment of relevant key performance indicators assigned to the division.

The Manager will be responsible for providing leadership and supervising the implementation of the ADF financing framework, the management of subscriptions of the capital of the Bank and the MDRI. He/she will advise Management and participate in technical discussions related to Bank capital increases and replenishments of ADF.
Duties and responsibilities

The Division Manager will manage and supervise the personnel and activities of the Division, determine the overall objectives, oversee the execution of the work program and ensure effective use of the Division’s budget. Her/his duties and responsibilities will include the following:

• Lead and coordinate the formulation of the Bank’s funding strategy and the preparation of the Bank’s annual borrowing programs; oversee and ensure regular review and update of the Bank’s borrowing documentation;
• Oversee the execution of the Bank’s annual funding program in the capital markets in line with its funding strategy, conservative asset and liability management framework, policies, guidelines and benchmarks;
• Provide leadership in the analysis of capital market trends and their likely impact on the Bank’s liability and derivatives portfolios; lead and supervise the asset/liability management activities of the Division;
• Build and maintain the Bank’s reputation in the capital markets by developing and maintaining frequent contact with investment banks, and investors as well as through representing the Bank at seminars, and conferences on relevant capital market topics; maintain constant flow of discussions on market developments with counterparties and inspire the staff of the Division to do the same. Manage the investors’ relations program to deepen and widen the Bank’s investor base, updating them on the Bank’s credit story. Manage relationships with investors.
• Lead the administrative management of subscriptions of the ADF, the African Development Bank and the MDRI;
• Advise Management and participate in discussions on capital increases and ADF replenishments; prepare relevant technical papers;
• Manage the process related to the implementation of the ADB, ADF resolutions and MDRI;
• Manage relationships with member countries and donors Administrative management of subscriptions and contributions.
• Participate in the Bank’s credit rating review process; participate in the review of the Bank’s financial policies; lead the preparation of the financial presentation of the Bank for the annual meeting; lead the preparation of the administrative hedge of the Bank’s budget.

Selection Criteria
Including desirable skills, knowledge and experience

• Hold at least a Master's degree in Finance, Business administration, Economics, Statistics or related quantitative discipline;
• Have a minimum of eight (8) years of professional experience in international Capital Markets, fixed income markets;
• Dynamic, achievement-focused leader and manager with an established performance record and extensive experience in global capital markets;
• Excellent communication and presentation skills required in English, working knowledge of French will be an advantage;
• High degree of personal commitment, interpersonal skills with proven communication, leadership, management and supervisory skills;
• Ability to work effectively with individuals of different views, culture, nationality, gender and age;
• Strong ability to cope with multiple demands and competing priorities under pressure;
• Competence with standard Microsoft Office software (Word, Excel, Access, PowerPoint) as well as Bloomberg;
• Knowledge of Summit/Numerix would be an advantage.