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  • Posted: Jun 3, 2024
    Deadline: Not specified
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    The African Development Bank Group (AfDB) is a multilateral development finance institution established to contribute to the economic development and social progress of African countries. The AfDB was founded in 1964 and comprises three entities: The African Development Bank, the African Development Fund and the Nigeria Trust Fund. The AfDB’s missi...
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    Chief Legal Counsel - Finance Division

    Position Grade: LP3
    Position Number: 50000661

    The Complex

    • The President plans, supervises and conducts the business of the Bank and the African Development Fund (the “Fund”, and collectively, the “Bank Group”). Under the direction of the Boards of Directors, the President manages operations and activities in accordance with the Agreements establishing the Bank and the Fund.
    • 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 role of the General Counsel and Legal Services Department (“PGCL”) is to provide legal support, advice and services to the Boards of the Bank Group, to the President, Vice Presidents, as well as the operational, financial and administrative Departments of the Bank. The role of PGCL is also to protect the interests of the Bank from legal liability and, as necessary, to provide legal representation in cases filed against or brought by the Bank.
    • The main activities of the Finance Division (“PGCL.3”) are to provide legal and advisory services in the mobilization, investment and management of the financial resources of the Bank.

    The Position

    • The Chief Legal Counsel – Finance Division ensures the correct interpretation of, and compliance with the various policies, rules and regulations of the Bank in the mobilization, investment and management of the financial resources of the Bank.

    Key Functions
    Under the supervision and guidance of the Division Manager PGCL 3, the Chief Legal Counsel Finance Division will:

    • Attend meetings of the Boards of Directors and Senior Management committees directly related to the functions of the incumbent and provide any legal clarifications or assistance that may be required.
    • Ensure that the mobilization, investment and management of the Bank’s financial resources comply with applicable Bank rules and policies.
    • Support and advise the Bank’s Treasury in the negotiation and drafting of documentation to effect Bank borrowings in the international capital and money markets, and draft or review all legal documents required for the implementation of the Bank‘s borrowing strategy and capital markets transactions.
    • Prepare and review legal documentation for the Bank Group’s derivatives, investment and other risk management transactions, negotiate relevant master agreements and draft and review individual transaction documents.
    • Advise on the legal aspects of cash management, bank account agreements, anti-money laundering initiatives, and contracts for the custody or investment of the liquid assets of the Bank Group.
    • Draft and review legal documents concerning membership and subscription to the Bank’s capital, contributions to the Fund and the creation of trust funds, special funds and other partnership arrangements.
    • Provide legal advice on the Bank’s and the Fund’s General Authority on Asset and Liability Management, policies, regulations and directives and participate in the work of the Bank’s Asset and Liability Management Committee and its working groups.
    • Issue legal opinions on regulatory, institutional and financial issues arising from the interpretation and application of the Agreements establishing the Bank and the Fund and Bank Group policies falling with the remit of PGCL.3, and propose and design appropriate amendments to these instruments.
    • Support and advise the Bank Group Chief Risk Officer and Asset-Liability Management Committee and senior management on the legal aspects of balance sheet optimization activities undertaken by the Bank Group.
    • Provide legal advice and assistance through the Division Manager to the Bank and its operating organs on all matters of finance, investments and reporting obligations to internal and external authorities.
    • Assist the Division Manager in the selection of external counsel to represent the interests of the Bank.
    • Provide legal advice on matters relating to investments and financial transactions of the Staff Retirement Plan.
    • Handle certain legal issues of a complex and confidential nature in accordance with the instructions from the Division Manager or the General Counsel.
    • Assist the Division Manager in the supervision and coaching of junior consultants, newly recruited counsel and other counsel, as directed.
    • Undertake such other assignments as may be required in furtherance of the Department's mandate.

    Competencies
    Skills, Experience and Knowledge:

    • Hold at least a Master's Degree or its equivalent in Law, and admission to the Bar of one of the African Development Bank member countries; or a Juris Doctor (JD) degree and admission to the Bar of one of the African Development Bank’s member countries.
    • A minimum of seven (7) years of relevant experience in similar positions, preferably with a reputable international law firm, the legal department of a private or public entity, or an international financial institution with proven technical competence and experiences in international finance and banking practice.
    • Seasoned knowledge of the current trends in the area of sustainable international development, coupled with familiarity with international law, and related matters as they are applied within the Bank Group and other international organizations.
    • Strong skills in the negotiation and preparation of complex legal documents, and the ability to balance the standards and norms of outside parties with the unique requirements of the Bank Group.
    • Effective advocacy and advisory skills that help resolve client legal concerns.
    • Ability to work and deal with sensitive issues in a multi-cultural environment and to build effective working relations with colleagues and clients.
    • Excellent communication skills (written and oral) in English and/or French, preferably with a working knowledge of the other language.
    • Having private sector experience would be an added advantage.

    Method of Application

    Interested and qualified? Go to African Development Bank - AfDB on www.afdb.org to apply

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