Division Manager, Capital Markets and Financial Operations, FITR1 at the African Development Bank Group

Reference:  ADB/20/073
Location: Abidjan, Cote d'Ivoire
Grade: PL2
Position N°: 50092457

The Complex

• The Vice Presidency for Finance (FIVP) oversees the financial management of the Bank Group.
• This encompasses the Bank Group’s treasury activities including borrowings from the capital markets and investment activities; controllership functions including financial reporting and loan administration; strategic resource mobilization and the strengthening of the non-statutory financial resources and instruments; the overall asset/liability management for the Bank Group.
• The Finance Complex is also responsible for the development of and training on the financial products of the Bank Group. In addition, the Administrator of the Staff Retirement Plan (SRP) reports to the Vice President FIVP.

The Hiring Department/Division

• The Treasury department is responsible for raising funds from capital markets, managing and investing the Bank Group’s liquidity and shareholders’ funds, processing and settling all financial transactions and managing the institution’s banking relationships.
• Under the supervision of the Director Treasury Department, the capital markets and subscriptions division is responsible for the implementation and execution of the African Development Bank’s annual borrowing program (about USD 8 billion for 2020), providing guidance and supervising the management of subscriptions to the capital of the Bank, the African Development Fund and the Multilateral Debt Relief Initiative (MDRI).  The function also requires leading, advising or contributing to technical discussions related to the Bank’s capital increases, replenishments of ADF, rating review, financial policies and key strategic communication with stakeholders.
• The Division’s activities should be handled in line with the Bank Group’s policies and guidelines, with strong financial integrity within a robust operational and risk management process. The candidate will be responsible for managing a strong team of professionals and assistants for success.

The Position
Under the supervision of the Director Treasury Department (FITR), the Division Manager will be responsible for the implementation and execution of the African Development Banks fund raising activities in capital markets, and the financing framework and administration of shareholders’ funds. Particularly:

• Develop and lead the work program of the division and manage staff performance and engagement. Ensure that the division operates smoothly, business continuity assured, with strong controls in place.
• Establish an effective funding strategy to raise resources from capital markets both inside and outside of the African continent, in a cost-effective manner, while diversifying the Bank’s funding sources and widening its investor base, within the risk management framework of the Bank and market practices and guidelines.
• Ensure strict compliance with guidelines prescribed by the Bank’s financial regulations and long-standing practices, relevant operating procedures manuals and the asset and liability management (ALM) guidelines.
• Provide advice and contribute to technical discussions related to the Bank’s credit rating review, ESG rating review and financial management policies.
• Raise the visibility of the Bank’s operational effectiveness and financial profile with stakeholders. Oversee the maintenance and development of the division's investor relations platform
• Manage the financing framework and administer the subscription process for shareholders’ funds, specifically, contributions to the capital of the Bank, replenishments of ADF and resources received for MDRI.
• Any other responsibility assigned by the Director.

Duties and Responsibilities

• The Division Manager will manage and supervise the personnel and activities of the Division, determine the overall objectives, oversee the execution of the work program and ensure effective use of the Division’s budget. Her/his duties and responsibilities will include the following:
• Provide leadership and effective people management. Committed to the success of the team
• Ensure that the division has strong controls and processes in place.
• Lead and coordinate the formulation of the Bank’s funding and investors relation strategy, and the preparation of the Bank’s annual borrowing programs; oversee and ensure regular review and update of the Bank’s borrowing documentation and capital markets requirements;
• Oversee the execution of the Bank’s annual funding program in capital markets in line with its funding and hedging strategy, conservative asset and liability management framework, policies, guidelines and benchmarks; lead and supervise the asset/liability management activities of the Division;
• Provide leadership in the analysis of capital market trends and their likely impact on the Bank’s liability and derivatives portfolios;
• Build and maintain the Bank’s reputation in the capital markets by developing and maintaining t contact with market participants. Keep abreast of market developments.
•  Manage the investors’ relations program to efficiently deepen and widen the Bank’s investor base,
• Lead on the financing framework and the administrative management of subscriptions to the Bank, ADF, and the MDRI. Advise Management and participate/contribute to discussions on capital increases and ADF replenishments; prepare relevant technical papers. Manage relationships with member countries and Donors.
• Provide technical leadership and contributions to the Bank’s credit rating review process and ESG rating process; participate in the review of the Bank’s financial policies.
• Lead the preparation of the financial presentation of the Bank for the annual meeting, and various stakeholders presentation.
• Lead the preparation of the administrative hedge of the Bank’s budget.

Selection Criteria

• Hold at least a Master's degree in Finance, Business Administration, Economics, Statistics or related quantitative discipline;
• Have a minimum of eight (8) years of professional experience in international Capital Markets, specifically in fixed income markets is a must;
• Dynamic, achievement-focused leader and manager with an established performance record and extensive experience and understanding of global capital markets;
• Ability to lead, guide, develop, mentor and motivate staff members to achieve optimum performance in their roles. Be able to work effectively with individuals of different views, culture, nationality, gender and age;
• Ability to work with others to maximize team effectiveness and develop strong working relationships within and outside of the Organization.
• Very Strong ability to effectively cope with multiple demands and competing priorities under pressure;
• Capacity to propose innovative and creative approaches to activities in order to enhance performance and create added benefits to the Bank and its clients;
• Capacity to plan strategically in an uncertain environment and achieve desired results timely.
• Ability to communicate clearly and concisely. Excellent communication and presentation skills required in English, working knowledge of French will be an advantage;
• Competence with standard Microsoft Office software (Word, Excel, Access, PowerPoint) as well as Bloomberg; Knowledge of Summit/Numerix would be an advantage.