Job Vacancies at the African Development Bank Group (AfDB)

The Complex

• The Vice Presidency for ‘Private Sector, Infrastructure and Industrialization’ is a Sector Complex focusing on the Bank’s TYS and High 5s priority of “Industrialize Africa” and “Integrate Africa”. The Complex also plays pivotal role in the implementation of the other High 5s, namely Power Africa, Feed Africa and Improve the quality of life for the people of Africa.
• The objectives of the Complex are to: (i) develop the ‘Africa Industrialization Strategy’; (ii) provide deep sector expertise to the Regions by leveraging on experienced individuals who can be consulted on complex transactions; (iii) develop new financing instruments; (iv) act as the Bank’s Spoke person on “Industrialize Africa”.
• The Complex is also responsible for the overall coordination of the Private Sector and Non-Sovereign Operations (NSO) across the Bank, working closely with other sector Complexes. In this regard, the complex leads the development and implementation of the Private Sector Development Strategy, the Financial Sector Development Strategy, the Industrialization Strategy including the Pharmaceutical Manufacturing Action Plan, the PPP Strategic Framework, and the related action plans and policy guidelines.
• These responsibilities also include business development, transaction support, Equity oversight, Corporate Portfolio Management, standards enforcement, oversight, monitoring and reporting. The Complex is at the centre of the Bank’s Privatre Sector and NSO development and delivery.

The Hiring Department / Division

• The role of the Bank’s Non-Sovereign Operations (NSO) and Private Sector Support Department (PINS) is to support the promotion of private sector development in Regional Member Countries, particularly through transaction structuring advice that ensures bankable transactions, as well as project and corporate portfolio management (e.g., evaluation, monitoring and reporting) of all NSOs, in line with the Bank’s 10 Year Strategy,  High 5s initiatives, and the Bank’s 5 year private sector development strategy 2021-2025.
• PINS will primary serve as second line of defense for all NSOs of the Bank by identifying any red flags and providing: (i) transaction structuring advice and operational support to NSO originating departments as needed; and (ii) project and corporate portfolio management (evaluation, monitoring, reporting as well as remedial management actions), (iii) a comprehensive customer relationship and project documentation database as well as knowledge management; and, (iv) various guidelines, operational procedure manuals and training initiatives.
• The Department thus provides all Sector Complexes with corporate support on NSOs and transaction guidelines.
• The services provided are therefore pooled together for use by the Bank’s NSO business origination departments.

The Position

• The position of Director of NSO and Private Sector Support Department (PINS), which reports to the Vice President, PIVP, is key to ensuring the overall effectiveness of Private Sector operations of the Bank Group.
• This is primarily through NSO project and corporate portfolio management (e.g., evaluation, monitoring and reporting, for effectiveness in several areas such as financial performance, safeguards, integrity and development impact), as well as transaction support to NSO origination departments as needed. 
• A key function of PINS is to provide Strategic Portfolio Management to further the Bank’s integrated quality assurance agenda, and knowledge management and training through support of administering the Operations Academy with a focus on NSO Pathways/Modules.

Key Functions
The key functions for the Director for Non-Sovereign Operations and Private Sector Support Department are:

• Debt Asset Management: Manage the Bank’s NSO debt portfolio assets for all the NSO originating departments: the financial sector, energy, transport, agriculture, social, industries and trade sectors. Activities undertaken therein include asset monitoring, undertaking of project supervision, processing of loan disbursements and project waivers/amendments/consents, rescheduling, and minor restructurings, in close collaboration with the Bank’s Special Operations Unit where appropriate.
• Equity Transaction support: Provide support and expert advice to project officers on equity investments, including evaluation of proposals, investment-process management, as well as continuous evaluation of the effectiveness of Bank representation at Advisory Committees. The equity evaluation process for private equity funds is being revamped, and the equity unit may be responsible from origination to portfolio management, leveraging sector teams when sector expertise is required.
• Debt and Guarantee Transaction Analysis support: Provide Advisory services to project officers on debt and guarantee transaction design, project bankability assessment, capital structuring, project credit enhancement, financial leveraging, and financial modelling. Also advise on the use of concessional resources to improve project bankability.
• Equity Asset Management: Manage the Bank’s equity portfolio (direct equity investments and private equity fund participations) including through active asset monitoring, undertaking of annual and extended supervision activities, and preparation of supervision reports. As part of active portfolio management, proactively seeking equity exits in alignment with strategy, by sourcing prospective buyers and engaging in price negotiations.
• Administration of Committee Secretariats: Host and administer the secretariats of the Equity Deal Flow Committee and the Technical Investment Committee (TIC).
• Review of Transaction and Legal Documentation: Supporting provision of portfolio insights drawn from lessons learnt, assisting in the review of legal documentation of new debt and equity investments, and providing transactional guidance on first disbursement.
• Equity Governance Oversight:   Managing nominations to board and advisory committees and coordinating representation on board and advisory committee meetings, as well as continuous evaluation of the effectiveness of the representation
• Back Office Portfolio Support and Monitoring of Conditions Precedent - Provision of back-office portfolio assets management to NSO sectors with independent assessment of all triggers required for first (including subsequent) disbursement, monitoring credit quality movements/transition of loans, and validating waivers requested by NSO Clients.
• Lead the Equity Working Group and participate in the Watchlist Working Group – Work in collaboration with Risk Management (PGRF), Special Operations Unit (SNOU), and Legal (PGCL), in order to ensure adequate equity valuations, early detection and reporting of warning signals, identification and participation in remedial management of underperforming and distressed assets, and enforce adequate covenant and collateral management systems
• Customer Information System: Ensure that a comprehensive transaction information database and monitoring systems are maintained with all relevant transaction documents for reference and appropriate monitoring tools to follow up on conditions, undertakings, and covenants. Also maintain a platform that allows for sharing lessons learned with the wider NSO ecosystem
• Work collaboratively and closely with the PGRF, SNOU, and PGCL, for the overall management of the Bank’s NSO portfolio.  This collaboration includes leveraging these other units to resolve distressed and underperforming corporate and project finance loans and equity exposures and identifying and managing problem projects pre and post the Watchlist.  PINS should also include NSO originating departments as appropriate, especially sharing deal insights and lessons learnt during portfolio management and special operations
• Balance Sheet Optimization: Support Bank targeted balance sheet optimization activities and transactions, that will be led by the Syndications & Mobilization (FIST) department, through the identification of existing portfolio as well as prospective assets which qualify for insurance or potential divestment (“BSO Assets”), support the valuation of BSO Assets, and participating in the negotiations and financial closure of BSO transactions
• Knowledge Management: Developing norms and standards associated with the NSO project cycle, undertaking training and capacity building actions through the NSO pathway courses delivered at the Operations Academy, conducting semi-annual meetings of AC representatives with Portfolio Officers, and onsite trainings on corporate governance.
• Design of strategies: Assist in the design of origination and portfolio management strategies by integrating portfolio trends, lessons learnt and emerging risks.
• Ensure the proper supervision and follow-up of all NSO investments in conformity with the Bank’s NSO operational policies.
• Advise the Vice-President of PIVP on private sector operations issues, as requested and/or as necessary.
• Staff Supervision: Supervise the staff of the Department, review and approve annual performance evaluations, guide staff and Divisional Heads in the Department on performance and career development issues, initiate reward programs for exceptional performance, proactively address poor performance by staff and initiate disciplinary processes for identified infractions of the Bank rules, policies, or regulations.
• Budget Responsibility: Supervise the preparation of the department’s annual budget in conformity with the directives and guidelines issued by Bank’s Senior Management; approve divisional budget proposals and ensure appropriate execution of the budget activities within the approved costs.

Competencies (Skills, Experience and Knowledge)

• At least a Master's Degree in Business Administration, Financial engineering, Banking and Risk Management, or any other relevant discipline.
• A minimum of ten (10) years (five (5) of which should be at least managerial level) of extensive and in-depth experience in private sector operations and Multilateral working environment.
• A good knowledge and experience of socio-economic, development and business environment issues in African countries.
• Extensive knowledge and proven experience in financial lending instruments and approaches, including familiarity with equity lending and guarantee mechanisms, portfolio management, and rescheduling/restructuring.
• Ability and commitment to serve and collaborate with internal clients such as NSO origination departments
• Demonstrated ability to take prudent business risks and make effective, timely and well-determined decisions.
• Proven ability to build and lead motivated and committed teams across functional boundaries and utilize talent and expertise of team members in a productive way.
• Delegates authority and responsibility with the capacity to do a task in one’s own way and encourages others to take the lead and learn new skills. Promotes sharing of expertise and supports learning opportunities across the Department.
• Demonstrated ability to present and win support for ideas; a good listener; cultural sensitivity, commitment to diversity and capacity to initiate and manage innovations or change.
• Ability to build partnership with a broad range of clients and deliver results that meet the needs and long-term interests of clients within and outside the institution and
• Strategic mindset: strong capacity to analyze actions from the perspectives of stakeholders and translate strategic thinking into compelling plans of action.
• Excellent written and verbal communications in English and/or French with a working knowledge of the other language
• Competence in the use of Bank standard software (Word, Excel, Access, and PowerPoint).

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Location: Abidjan, Côte d'Ivoire

Position Grade: PL5

Position Number: 50105392

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:

The Infrastructure and Urban Development Department (PICU) provides assistance to the Bank Regional Member Countries (RMCs) in the form of loans and grants to finance infrastructure projects and programs mostly in the transport sector, and urban development.  The Department also develops non-lending knowledge products to formulate and implement transport and urban development sector policies and strategies, sector reforms to ensure best practices are mainstreamed in policy, planning, programming, institutional governance, and maintenance and operations. In addition, the Department provides Grants for preparation of regional infrastructure projects covering transport, energy, ICT, and water sectors, and coordinates the Bank’s Public Private Partnerships (PPP) framework, as well as a number of external strategic infrastructure partnerships for the Bank. The Department fosters advancement of infrastructure and cities in Africa by detailed development of appropriate interventions which the Bank might finance on a regional, national or a continent-wide basis.

THE POSITION:

To undertake and manage the assigned PPP investment and financing activities focus of the Division, work with the project sponsors and other MDBs and IFIs to develop financing proposals, review potential infrastructure deals in member countries for the Bank’s support, conduct and oversee due diligence of the whole project design covering the financial modelling, technical issues and terms and conditions for the Bank’s engagement under the supervision of the Division Manager. This shall entail PPP operations aligned to all the three pillars of the Bank’s PPP Strategic Framework: 1. enabling environment; 2. project preparation and transaction advisory; 3. project financing.

KEY FUNCTIONS:

Under the general guidance and supervision of the Division Manager, the Senior PPP Operations Specialist will perform the following duties and responsibilities:

• Originating PPP projects and transactions as part of business development for consideration in the Bank’s operational pipeline.
• Structuring, and executing debt and equity investments for privately financed infrastructure projects across Africa.
• Assessing applications and requests for PPP project assistance and financing received by the Bank from RMCs and other eligible clients, and making appropriate recommendations to Management on their suitability for Bank support.
• Screening applications for PPP projects in line with the Bank’s PPP framework to assess eligibility for assistance and possible prioritization for inclusion in the Bank’s PPP work programme.
• Preparing, appraising, structuring, and executing PPP projects leading to Board approval and financial close and beyond
• As part of an appraisal team, processing PPP project operations within the Bank system all the way to approval and ensuring that investments comply with the Bank’s strategy, policies and best practices.
• Undertaking due diligence; leading multidisciplinary project teams to analyze technical, financial,
  economic, and E&S risks, and selecting and overseeing external specialist advisors
• Conducting project finance and PPP financial analysis and financial modeling through to financial close
• Drafting and presenting investment proposals to internal committees and the Board of Directors
• Negotiating and executing financing agreements to achieve the intended results
• Originating deals by forging and nurturing relationships with Africa-focused project developers, investors, and financiers.
• As part of a team, undertaking PPP country and sector diagnostic work for the Bank’s Country Strategy Paper (CSP) preparation as assigned from time to time.
• Working as part of a team on key activities in the upstream, midstream or downstream phases of project development.
• Working in a team to provide PPP Transaction Advisory Services (TAS) for PPP projects being supported by the Bank leading to commercial and financial close.
• Supporting work to mobilize resources from within the Bank and from external sources to support the delivery of the Bank’s PPP programme.
• Supporting the preparation and delivery of PPP knowledge, capacity building and information on PPPs and the Bank’s areas of support for both internal and external audiences.
• Engaging in dialogue with stakeholders to address challenges that may be faced in delivery the Bank’s PPP Strategic Framework.

COMPETENCIES (skills, experience and knowledge)

• Hold at least a Master's degree in Engineering, Economics, Finance, Business Administration, Law, Development Finance or any other related discipline
• Professional certification in Public Private Partnerships, Project Management, Project Finance, Advance Financial and Risk Analysis; and knowledge of Corporate Governance and negotiation skills are desirable.
• Have a minimum of 5 years of relevant experience in infrastructure development, PPP financing, project advisory services and management of PPP infrastructure projects, project finance and other related areas.
• Practical and demonstrable knowledge and experience in different stages and activities of the  PPP transaction cycle, and in different PPP financing options and how and when to apply them
• Good understanding and practical experience in different PPP financing options and how and when to apply them
• Very strong financial modeling skills, preferably with specific experience in PPPs and project finance
• Experience and good understanding of key PPP concepts including project screening, appraisal, value for money versus PSC assessment, affordability, structuring, transaction support, etc.
• Experience working in DFIs, investment bank or MDBs will be a competitive advantage.
• Project management experience to schedule and budget
• Robust analytical skills and the ability to write and produce high-quality technical reports.
• Proven ability to conduct research, analyze and produce reports.
• Ability to deal with sensitive issues in the workplace in a multi-cultural environment and to build effective working relations with colleagues.
• Demonstrates expertise in organizing and implementing operational processes.
• Takes initiative to improve policies/programmes and products to maximize efficiency.
• Engages, supports and motivates others to implement efficient ways of doing things.
• Delivers quality initiatives to enhance the team's performance
• Drive for results
• Excellent spoken and written English or French, with a working knowledge of the other language.
• Competence in the use of the Bank’s standard software (Word, Excel, Access, PowerPoint). Knowledge of SAP is desirable.