Principal Valuation and Structuring Officer, PINS1 at African Development Bank - AfDB

Reference: ADB/20/169
Location: Abidjan, Cote d'Ivoire
Grade: PL4
Position N°: 50093748

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 (i) strengthen the enabling environment for private sector [and financial sector] development conducive to inclusive growth and sustainable development, (ii) support the development of reliable and sustainable infrastructure, including cities and urban development, and (iii) 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 / Division:

• The role of the Bank’s Non-Sovereign Operations and Private Sector Support Department of the Bank (PINS) is to promote private sector in Regional Member Countries, ensuring that it plays a central role in laying the foundations in the development role of the Bank, in line with the Bank’s 10 Year Strategy and HI 5 initiatives.
• As part of the PINS Department, the Strategy and Transaction Support Division is responsible for preparing strategies, policies, guidelines, and analytical tools relevant to the sector; it also ensures global client management and undertakes specialized assignments for the Regions, providing ad hoc advice on transaction bankability, structuring, project modelling and designs and implements technical assistance for Private Sector operations.

The Position
The main responsibilities of the position holder are:

• Lead the formulation of operational guidelines on equity valuation and collateral valuation management;
• Develop, implement and/or maintain appropriate financial models and portfolio valuation tools as may be needed (e.g. discount cash flow models);
• Provide support to origination teams on optimization of financial structures for non-sovereign investments, and project bankability enhancement across various sectors (infrastructure sectors, social and agriculture sectors and financial sector)
• Perform equity valuation for new and existing investments, and provide opinion on best exit-strategies;
• Provide support to Bank’s non-sovereign operations during project monitoring and supervision phase including collateral valuation
• Perform Impairment analysis: build, understand and explain the models that affect the IFRS9 Expected Loss provisioning
• Assist other staffs in getting acquaintance with various best practice financial and valuation models
• Provide technical and analytical support to institutional initiatives pertaining to the Bank’s Non-Sovereign Operations.

Duties and Responsibilities
Under the overall guidance and direct supervision of the Division Manager - Strategy and Transaction support, the Principal Transaction Support and Valuation Officer will perform the following:

• Perform periodic valuation of collateral secured on an individual basis for non-sovereign projects financed by the Bank.
• Review proposed valuations by Fund Managers for equity investments in terms of appropriateness of methodology and accuracy throughout the investment life and on support portfolio officers in the assessment of the feasibility of proposed hold and/or exit recommendations.
• Review when necessary financial terms of potential investments and transaction with a view of achieving the future secondary sale of assumed exposures to commercial investors, financiers and insurers;
• Lead the formulation of the periodic valuation report and present the analysis and results in a clear and concise manner.
• Perform other ad-hoc responsibilities as assigned.

Selection Criteria

• Hold at least a Master's degree (or its university equivalent) in Finance, Financial Engineering, Accounting, Economics or related field.
• Professional certification such as the Chartered Financial Analyst (CFA) would be considered favourably.          
• Have a minimum of six (06) years of relevant professional experience with the Bank, a similar Development Finance institution, a major investment bank and/or major international strategic consultancy firm with tasks related to asset valuation.
• Prior experience in non-recourse project finance and corporate loan in the infrastructure, industrial, manufacturing, agribusiness and services sector is necessary.
• Detailed understanding of lending and investment practices, financial modelling, rating methodology, and risk management concepts and methodology.
• Strong experience with Credit enhancement and risk mitigation instruments is preferred.
• Ability to respond swiftly to new situations and to anticipate new issues.
• Proven ability to acquire new skills (particularly in legal, investment, risk capital, technology and innovative sectors).
• Operational effectiveness, innovation and creativity
• Excellent spoken and written English or French languages, preferably with a working knowledge of the other;
• Competence in the use of standard Microsoft Office Suite applications; Knowledge of SAP is advantageous.