Chief Investment Officer (Origination), PESR2 at African Development Bank - AfDB

Position Number: 50093664
Location: Abidjan, Côte d'Ivoire
Position Grade: PL3

The Complex

• The Vice Presidency for ‘Power, Energy, Climate and Green Growth’ is a Sector Complex focusing on the Bank’s Ten Year Strategy and first High 5s priority of “Light up and Power Africa”.
• The complex’s objectives are to develop policy and strategy; to provide deep sector technical expertise to the Regions by gathering pool of experienced individuals who can be consulted for their expertise on complicated transactions; to develop new financing instruments; to act as spokesperson to represent the Bank with external stakeholders on all aspects of “Light Up and Power Africa”. The Complex will focus on areas of Power systems, policy and regulation, renewable energy; and, Climate and Green Growth.

The Department

• The Energy Financial Solutions, Policy and Regulations department is responsible for advising Regional Member Countries in the establishment of relevant policies and regulations as well as to structure energy investments, provide financing and mobilize resources including through blended finance instruments. The department is also responsible for coordinating relevant flagship programs, including through Technical Assistance support to relevant stakeholders in the Bank’s member countries. Under the department there are two divisions, namely:
  • Energy Policy Regulations and Statistics Division and
  • Financial Solutions Division.

The Hiring Division

• The Energy Financial Solutions Division provides leadership in the structuring of financing instruments to attract both public and private sector investments into the power sector. These instruments include debt, equity, blended finance, leasing and innovative capital markets solutions.
• The Financial Solutions Division leads on non-sovereign energy sector operations and provides financial expertise, including structuring investments across the full spectrum of the energy sector. In pursuing its resource mobilization efforts and co-financing, the Division is increasingly mandated to take lead arranger roles.

The Position

• The responsibility of the Chief Investment Officer is to ensure the technical strength of the Bank’s activities in support of transactions linked to private sector investments in the energy sector.
• The main task of the job holder will be to identify business opportunities and execute transactions related to private investments in the energy value chain, as well as process financing instruments through to board approval and financial close of IPP projects and corporate loans mainly.

Key Functions
Under the overall supervision and general guidance of the Division Manager, Financial Solutions, the Investment Officer (Origination) will perform the following:

• Coordinate the delivery of flagships as relevant to ensure delivery of the New Deal on Energy objectives;
• Lead the structuring of projects involving public and private sector participation (e.g. in the form of IPP, project finance operations and corporate loans) in close coordination with Hub teams, Power Systems, Renewable Energy and Energy Efficiency Teams;
• Work across the energy value chain and be involved in new business processing until funding is secured;
• Contribute towards developing a strong pipeline of good quality investment opportunities through anticipating market trends and employing sector/country knowledge;
• Evaluate, structure, negotiate, and close new transactions, portfolio restructurings, leasing, capital markets solutions etc.;
• Develop innovative and appropriate financial structures for complex transactions;
• Lead/participate in negotiation of finance documentation, develop financial solutions and overcome bottlenecks in the transaction life-cycle;
• Provide feedback on energy project documents, including Investment Agreement, shareholders’ Agreement, Concession Agreements, Power Purchase Agreements, Engineering Procurement and Construction (EPC) Contracts, Operations and Maintenance (O&M) Agreements, Fuel Supply Agreements, etc.;
• Have a thorough understanding of the energy value chain including utilities, energy markets, major operators and technologies;
• Develop a good understanding of project and concession financing, tendering of IPP projects, policy issues, license conditions, tariff regimes, and collaborate on these matters as appropriate with sector policy specialists and government regulators and officials;
• Build and maintain strong relationships with clients, especially regional IPP developers and sponsors, utilities, corporates, banking and multilateral partners and government officials to develop specific investment opportunities;
• Support/advise and when necessary lead the evaluation, structuring, negotiation of new transactions;
• Proven experience in coordinating lenders under a lead arranger mandate;
• Have an appreciation of applicable capital markets and leasing solutions that may be employed in financing the energy sector;
• Lead/Participate and manage project teams, mentor and develop junior staff;
• Perform any other duty assigned by the Division manager or Director.

Competencies
Skills, experience and knowledge:

• Hold at least a Master’s Degree in Economics, Finance, Business and/or a professional qualification such as: Chartered Financial Analyst (CFA), Chartered Accountant (ACCA) or related subjects.
• Have a minimum of seven (7) years relevant working experience in financial structuring in the energy value chain gained from within a Commercial/Investment Bank, Development Finance Institution, Energy Utility, Infrastructure/Private Equity Fund, Sovereign Wealth Fund, Energy Project Developer, established Accounting/Consulting Firm etc.;
• Proven ability to identify, process and negotiate complex transactions in the energy sector from a private sector standpoint and in particular related to Independent Power Projects (IPP) investments and corporate financing;
• Ability to review and understand complex financial models; proven ability to construct financial models from scratch would be a bonus
• Appreciation of company valuation techniques, corporate and project finance concepts as well as capital markets solutions.
• Having private sector experience will be an added advantage.
• Communication: Good listener with demonstrated ability to present and win support for ideas
• Client orientation and team working skills
• Ability to communicate orally and in writing effectively in French or English, with a good working knowledge of the other language.
• Competent in the use of standard Microsoft Office applications (Word, Excel, Access, PowerPoint).