Senior Commercial Credit Officer (EQUITY) at African Development Bank - AfDB

Reference: ADB/17/378

Grade: PL5
Position N°: 50078360

The Complex

• The President, plans, supervises and manages the business of the Bank Group. Under the direction of the Boards of Directors, the President conducts the business of the Bank and the African Development Fund and manages operations and activities in accordance with the Agreements establishing the ADB and the ADF.
• The President supervises several Departments and Units including Office of the President; Independent Development Evaluation Department; Integrity and Anti-Corruption Department; Compliance Review and Mediation Unit; Secretariat to the Sanctions Appeals Board; Administrative Tribunal; Office of the Auditor General; Group Risk Management Directorate; General Counsel and Legal Services Department; Communication and External Relations Department; Staff Integrity and Ethics Office and Office of the Secretary General & General Secretariat.

The Hiring Department/Division

• The Credit Risk Division is within the broad mandate of Risk Management Department which assesses Sovereign and Non-Sovereign Credit Risks, measure their impact on the Bank’s risk bearing capacity and propose risk mitigation techniques.
• The department develops policies and guidelines, methodologies and systems relating to credit risk assessment and management for the Bank as well as ensures internal consistency of all Bank’s credit risk policies and guidelines including those initiated and developed by other Departments.
• The department also monitors and reports on compliance with credit policies.

The Position

• The overall purpose of this role is to ensure that equity investments are correctly valued and accounted for and also that the risk of individual investments is correctly assessed.
• The incumbent monitors risk capital consumption of equity investments and the evolution of the risk / return profile of the equity portfolio and formulate, review and update policies, guidelines and procedures relating and managing Equity investments.

Duties and Responsibilities
Under the overall supervision of the Division Manager PGCR 2, the Senior Commercial Credit Officer (Equity) has the following responsibilities:

• Develop, review and update methodologies, process and systems for assessing and managing commercial risk
• Update and maintain a database of all equity investments that aids performance monitoring and helps with financial reconciliations.
• Perform financial reconciliations as required  by the external auditors
• Prepare summary credit risk notes, advise appropriate risk ratings and make recommendations with respect to the further processing of individual transactions
• Assess specific risks of existing equity transactions and recommend changes to risk ratings as well as Net Asset Value adjustments if deemed necessary
• Participate in the selection of fund managers
• Participate in due diligence missions on new equity transactions and supervision missions on active projects, contributing to a better understanding of risks associated with them and of options for their mitigation
• Develop and maintain financial models to forecast the utilization of the Equity limit and advise operations on a sustainable annual business volume.
• Propose and develop initiatives to optimally manage the equity headroom.
• Participate in the development and updating of policies and guidelines, including procedures and processes relating to equity investments for their implementation.
• Participate in the development and upgrading of risk identification and assessment methodologies, including appropriate assessment, monitoring and management tools and systems.
• Monitor compliance with commercial risk and exposure management policies and guidelines and advise on the quality of the non-sovereign portfolio.
• Participate in management review committees and Board Committee sessions on equity transactions.
• Prepare technical notes and/or papers or conduct studies of interest to the Bank on commercial credit risk and related issues.

Selection Criteria
Including Desirable Skills, Knowledge and Experience

• Hold at least a Master's Degree or its equivalent in Risk Management, International Banking or Economics
• Have a minimum three (3) years of relevant experience related to commercial credit risk assessment and portfolio management with familiarity on direct equity investments and private equity funds.
• Knowledge of capital adequacy standards required as well as solid analytical skills.
• Having private sector experience will be an added advantage.
• Good knowledge of quasi equity and derivative instruments.
• Hands-on experience of equity risk assessment, deal negotiation and structuring.
• Good knowledge of fund structures and legal clauses that provide investor protection.
• 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 Microsoft Office Suite applications; knowledge of SAP is an added advantage.