Chief Capital Markets Officer, PIFD2 at African Development Bank - AfDB

Reference: ADB/21/047
Location: Abidjan, Cote d’Ivoire
Grade: PL3
Position N°: 50093724

The Complex
The Vice Presidency for Private Sector, Infrastructure and Industrialization is central to the Bank’s mission of developing the private sector, improving infrastructure and accelerating industrialization. The complex main functions are to:

• Strengthen the enabling business environment, including private and financial sector development, for inclusive growth and sustainable development,
• Support the development of reliable and sustainable infrastructure, including cities and urban development, and
• Place renewed emphasis on industrial and trade performance in support of structural transformation across Africa. The Complex leverages knowledge, co-financing, and partnerships to attract private capital and work with governments on delivering the Bank’s development agenda.

The Hiring Department

• The primary role of the Financial Sector Development (FSD) Department is to help the Regional Member Countries (RMCs) increase the reach, depth, and breadth of their financial systems, while safeguarding financial stability. 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.
• Paired with other Industrialization, infrastructure and Private Sector complex departments, the FSD Department is responsible for implementing the Bank Group’s Financial Sector Development Policy and Strategy 2014-2019 (FSDPS) towards vibrant, innovative, robust and competitive financial systems, both national and regional, and in both the public and private sector levels of RMCs. FSD plays a transversal role across the Bank’s five strategic priorities, applying its financial deepening and access tool kit to the High Five (H5) agenda.
• Fundamentally, the scalability and policy momentum inherent in the H5 agenda create an important opportunity for expanded relevance of the FSD core skill-set: flexible financing instruments and delivery frameworks for financial inclusion, smart resource mobilization and capital markets development. FSD leverages partnerships to bring about greater developmental impact in financial sector development.
• The Capital Markets Division’s mandate within the Financial Sector Development Department is to lead and support projects and programs aimed at creating more efficient capital markets and institutions capable of mobilizing domestic savings and allocating scarce capital in the Bank's regional member countries (RMCs). The Capital Markets Division works to ensure that the capital markets of RMCs are deepened, strengthened and developed to enable them to provide the capital necessary to achieve the high fives priorities of the Bank's Ten-Year Strategy.

The Position

• The Chief Capital Markets Officer will lead and coordinate the operationalization and implementation of capital markets development policy and strategy through well identified, structured and approved projects Non-bank financial institutions and Regulatory authorities responsible for Capital Markets issues.
• The expert will support Sector Manager and other advisory experts at Headquarter with technical analysis, review of analytical work on capital markets risk mitigation, and product pricing. The incumbent will be based in HQ for a period of at least 1 year with a possibility of being decentralized to a region.

The purpose of the job is as follows:

• Lead the Bank’s interventions in Capital Markets (securitization, bonds, housing and mortgage finance) required for the broadening and deepening of target markets.
• Originate capital markets projects in line with the Bank’s broad objectives (High 5’s), private and public client needs within regional member countries and to the level of development of RMCs.
• Participate in the portfolio management private projects by ensuring proper implementation and early identification of challenges, constrains and advise on appropriate remedial actions.
• Promote the use of African Capital Markets in the mobilization of long-term funds for affordable mortgage and housing finance.
• Propose and support the development of innovative long-term instruments for the deepening of Capital markets.

Duties and Responsibilities
Under the supervision of the Division Manager, the Expert will perform the following duties:

• Lead the preliminary evaluation of both lending and non-lending projects. This involves the initial screening of project applications, carrying out of desk reviews and evaluation of feasibility studies, preparing preliminary evaluation notes for presentation to the Department Management Team and more detailed project concept notes to obtain concept clearance for full appraisal or fact-finding missions;
• Lead 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;
• Lead 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;
• Ensure that all conditions precedent have been fulfilled on a timely basis and all fees are billed and collected from clients;
• Develop relationships within the Bank and with other institutions involved in financial markets development; represent the Bank at and participate in seminars, workshops and conferences dealing with financial markets issues;
• Play an active role in coaching and mentoring more junior investment officers;
• Coordinate 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;
• Maintain knowledge of African financial markets/transaction structuring and provide market intelligence;
• Build and maintain strong relationships with clients, global and regional private businesses, banking and multilateral partners and government officials to further develop the sector and to develop specific investment opportunities

Selection Criteria

• A minimum of a Master's degree in Business, International Development, Finance or Financial Economics or related disciplines.
• A minimum of seven (07) years of relevant post graduate professional experience with strong knowledge of socio-economic development issues and policies of African countries.
• A command of financial markets instruments and structuring with experience in Corporate Finance, Equity Investments and Housing Finance Projects.
• Strong financial and credit skill; with demonstrated ability to structure a variety of complex financial instruments (debt, quasi equity and equity).
• The ability to engage in a broad range of financial issues including a) Banking, b) Capital markets, c) Infrastructure Finance, d) Investments / equity funds, e) financial aspects of PPPs, f) Corporate finance, and g) Housing finance challenges and solutions
• Good knowledge of financial sector issues and demonstrated ability to engage in a broad range of development and policy issues regarding specifically the diversification though innovative products and solutions.
• Proven track record in capital markets development, banking, housing finance, and promotion and experience in infrastructure and corporate finance using a range of Bank products, such as loans, guarantee products and technical assistance, programs at national and regional levels
• Demonstrated knowledge of the operational policies, procedures and practices of major bilateral and multilateral development agencies.
• Innovation and creativity: The commitment to search for and produce innovative and creative approaches to activities in order to enhance performance and create added benefits to the Bank and its clients.
• Communication: Provides clear and concise oral and written communication; presents oral information with clarity and appropriate style and adapts language and style to suit the requirements of a particular audience.
• 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.
• Client orientation: Ensures that the client is considered to be of primary importance in all transactions and interactions. Strives to understand, and when appropriate, anticipate client needs, and ensures that the client receives the best possible service from the Bank.
• Team working and relations: 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. Ability to work and cooperate with others from diverse backgrounds.
• Excellent organizational, analytical and coordination skills;
• Integrity, and ability to work under pressure and to deliver timely quality services
• Ability to work accurately, methodically and to meet deadlines;
• Ability to work independently or within a team; demonstrated mature sense of judgment;
• Operational project management: Demonstrates broad knowledge of project management tools and methodologies; identifies risks and mitigations measures; interprets background analysis and proposed solutions
• Demonstrated capacity in dealing with different type of clients (private / public) and projects (financial markets, infrastructure, and corporate finance).
• Sector representation: Demonstrates ability to coordinate, participate in, and act as a catalyst for, strategic cross-sector dialogues within the networks, across the country, among Bank colleagues and other development institutions, governments and other organizations.
• Financial economic policy: Demonstrates broad knowledge of economic policy development; demonstrates strong analytical skills and writing ability to help identify and assess policy issues in support of policy dialogue;
• Capacity to conduct independent research and analyses, identify problems, propose solutions, and make recommendations to Management.
• Capacity to prepare reports and documents. Capacity to present and defend the consistency of proposed programs and projects. Capacity to work within specified time limits.
• Ability to communicate effectively (written and oral) in English or French, preferably with a working knowledge of the other.
• Competence in the use of Bank standard software (Word, Excel, Access, PowerPoint).