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  • Posted: Jan 22, 2024
    Deadline: Feb 10, 2024
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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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    Principal Treasury Officer, Capital Market Operations, FITR2

    Position Number: 50050330
    Position Grade: PL4

    The Complex

    • The Vice Presidency for Finance 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 Hiring Department

    • The Treasury Department (FITR) is responsible for the Bank Group’s treasury activities, including non-statutory resource mobilization, implementation of treasury assets and liabilities management activities, investment portfolio management and settlement as well as payment administration.

    The Position
    The Principal Treasury Officer is responsible for the settlement of the Bank Group's capital market operations processing, collateral management and custodian relationships and investigations specifically:

    • Oversee the processing of Asset Liability Management (ALM) transactions, ensure the timely settlement of the Bank Group operations including bonds and derivatives, oversee the management of collateral and ensure the adequate collateralization of derivative portfolios.
    • Lead initiatives and processes to mitigate the failures of Bank Group settlement transactions and provide measures to mitigate financial losses.
    •  Review and upgrade continuously, the internal control framework to minimize operational risks.
    • Supervises the investigations of all outstanding payments and claims for capital markets transactions.

    Key Functions
    Under the general supervision of the Division Manager of Treasury Operations, the incumbent’s duties and responsibilities include the following:

    • Process the ALM transactions and ensure the timely settlement of the Bank Group financial obligations.
    • Participate in the negotiation of borrowing documentation and issuing & paying agents agreements;
    • Ensure operational feasibility for new products and highly structured transactions that may be manual in settlement and make proposal for automation and to mitigate operational risk;
    • Validate borrowing documentations (Pricing Supplement & terms) and ensure compliance with ALM guidelines and market standards;
    • Ensure prompt and accurate settlement of all Treasury products and derivative transactions: trade ticket verification, settlement instruction generation;
    • Ensure compliance of ALM transactions with the relevant business processes and controls;
    • Monitor the daily inflow and outflow of funds in the accounts and ensure that adequate liquidity is provided for the settlement of transactions;
    • Verify the log of daily trades to ensure processing of all transactions by the CMO;
    • Monitor debt service schedule; reconcile discrepancies with paying agent’s and counterparties confirmations and ensure timely execution of the related payment orders;
    • Design and maintain an efficient filing system for all documents related to ALM transactions;
    • Validate all outgoing Swift messages;
    • Solve all issues related to settlement processing activities.
    • Supervise the management of derivative collateral and ensure the adequate collateralization of derivative portfolios.
    • Participate in the review of International Swaps and Derivatives Association (ISDA) and Credit Support Annex (CSA) agreements and update specifications in the treasury system;
    • Review the Swap documentation to ensure adequacy with the ALM guidelines before transmission to the Legal Department;
    • Affirm trades timely with counterparty as per FSA rules;
    • Send and receive trade confirmations and execute trade matching process;
    • Monitor and check rate fixings for accuracy. Check trades reset notifications and/ or payment advices received from counterparties;
    • Ensure that margin calls are done timely according to the signed CSA;
    • Ensure that any discrepancies are timely reported to the Treasury Risk Department (FIFM) and solved on daily basis;
    • Ensure that all disputes are reported to the Treasurer, FIFM and Legal team (PGCL).
    • Calculate and reconcile the monthly interest on cash credit supports with CSA counterparties
    • Reconcile the credit support balances (cash and securities) with the custody banks and the CSA counterparties
    • Report the monthly interest and credit support balance to Financial Control (FIFC).
    • Manage the Bank Group custody accounts, tax claims and corporate actions
    • Participate in the negotiation of custody agreements;
    • Monitor security accounts on a daily basis to ensure that movements of funds and assets are identified;
    • Advise the Investment Division of FITR on excess funds available for investments and in some cases, recommend the tenor of the investment based on cash flow needs;
    • Reconcile the daily coupons and redemptions inflows with the custody banks and investigate any mismatches in coordination with FIFM;
    • Analyse corporate action messages (mandatory and optional events) received from custody Banks and advise promptly the Front-office in order to avoid financial losses.
    • Ensure that corporate actions instructions are send timely to custody banks to avoid financial losses;
    • Analyse tax claims messages received from custody Banks and take appropriate actions to avoid financial losses.
    • Review all tax exemptions submitted to custody banks are ensure they are updated to avoid financial losses;
    • Investigate all exceptions related to ALM transactions
    • Initiate investigations with respect to all transactions paid untimely or with discrepancies recorded in the Bank statements;
    • Ensure that investigations are concluded in order to formulate strategies to implement systematic control and management process to analyse and solve problems in a timely manner; reduce operating cost, errors, fines and losses;
    • Negotiate compensation to be paid or received on accounts of settlement failures;
    • Prepare monthly settlement failures report;
    • Undertake and supervise investigations and respond to queries emanating within and outside the Department;
    • Supervise the review and update of standard settlement instructions (SSIs)
    • Perform periodic review of all SSIs in line with market standard and regulations and prepare a consolidated SSIs list for distribution to all stakeholders;
    • Ensure that the SSIs are updated timely in the treasury applications to avoid settlement failures.
    • Work with SUMMIT or other IT system of FITR
    • Follow the procedures to speed up and enhance efficiency of processing and settlement activities;
    • Develop expert knowledge of the Bank’s treasury and settlement systems and play a key role in implementing workflow for new financial products;
    • Provide functional user’s input to IT support teams for the integration of SUMMIT to SWIFT or others settlement system;
    • Operational Risk Control
    • Liaise with the operational risk working group to:
    • Establish a basis for monitoring the operational risks in all areas of the Bank's activities and coordinate the implementation of a COSO process for the Bank Group;
    • Develop the operational risk management template to be used in the business process reviews of the Bank Group;
    • Develop plan for periodic compliance testing;
    • Build and maintain a record of events exposing the Bank to operational risk that can be avoided if the necessary controls are in place;
    • Review the procedures for all transactions in FITR.2 to ensure provisions for adequate internal control framework ;
    • Identify areas for change in procedures to minimize operational risks and work with the relevant staff/manager to draw up a procedure and plan to tighten internal controls;
    • Document all internal control issues in the division, for review by the operational risk working group;
    • Train FITR2 staff and assist other FITR divisions on the implementation of the internal control framework.
    • Reporting
    • Prepare daily and monthly collateral Management Report and Coupons reports for use by all the sections of FITR.2, FITR.3, FIFC, Director FITR and FIFM.3.
    • Prepare the debt services pre and post reconciliation report for use by FIFC.1 and external unit;

    Competencies (Skills, Experience and Knowledge)

    • A minimum of Master's Degree in Economics or Statistics, Finance and/or Business Administration or related quantitative disciplines;
    • A minimum of six (6) years of relevant experience in Treasury Operations in Multilateral Development Bank or similar organization;
    • Experience related to: asset and liability management principles and practices, operations and instruments;
    • Expertise in rules and regulations applied to the settlements of capital market operations in order to handle all types of financial instruments;
    • Strong judgmental/ analytical skills to solve complex settlement issues relating to fund transfers or security custody;
    • Ability to proactively takes the initiative to make improvements in own environment;
    • Experience related to post trade activities on primary and secondary markets;
    • Knowledge of Back-Office applications like Summit FT or other payment and clearing systems;
    • Ability to work under pressure and demonstrate capacity to prioritize the delivery of multipletasks under stress;
    • Ability to lead staff in various assignments and demonstrated fluency in supervisory skills;
    • Excellent communication and presentation skills in French and/or English, with working knowledge of the other language;
    • Command of standard computer software applications (such as Word, Excel, PowerPoint), SAP and Bloomberg/Reuters.

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    Principal Business Process Officer, SNBT.2

    Position Number: 50107450
    Position Grade: PL4

    The Complex

    • The Senior Vice-President is responsible for supporting the President in the day-to-day management of the Bank Group to achieve it strategic objectives, and drive a performance culture that will align all processes and systems to deliver high impact results.
    • The Senior Vice-President will provide effective leadership and exceptional coordination to ensure implementation and monitoring of key corporate decisions as well as the identification of necessary corrective measures and actions.
    • The Senior Vice-President will lead senior management discussions, decisions-making processes and the implementation of strategic board and management decisions to achieve the Bank’s objectives.

    The Department / Division

    • The mandate of the Business Transformation (SNBT) Department is to support the Senior Vice-President (SVP) in the execution of responsibilities related to ensuring organizational effectiveness.
    • The Department works to ensure that the Bank, as an organization, is fit for purpose and can adapt to changes in its internal and external environment.
    • It leads on Bank-wide change management efforts as necessary and fosters an organizational culture that aligns processes and systems to deliver high impact results.
    • SNBT leads or supports the review, establishment, and implementation of suitable internal organizational structures, systems, business processes, policies, procedures, methods, and information technology for effective implementation of strategic objectives championed by Senior Management to achieve measurable improvements in efficiency, effectiveness, and stakeholder satisfaction.

    Through its two divisions, namely Organization and Methods (SNBT.1) and Business Process Reengineering (SNBT.2), the Department is responsible for the following activities:

    • Design, implement and maintain the organizational structures.
    • Review and update policies, procedures, frameworks and methods (standards/templates, tools);
    • Lead the institutional change management approach and execution.
    • Perform continuous improvements of business processes, simplify and harmonize business tools and systems.
    • Advise on the implementation choices for new IT functional requirements to ensure alignment and coherence with existing processes and tools.

    The Position

    • The mandate of the Business Process Re-engineering Division (SNBT.2) is to coordinate the implementation of the Transformation Agenda initiatives approved by Senior Management.
    • The division is also responsible for providing leadership and technical expertise in managing the review of the Bank’s business processes, and the implementation of related information technology systems and change management plans.
    • The Principal Business Process Officer will perform all activities to fulfil the key deliverables described above.

    Key Functions
    As part of the SNBT.2 team, and under the leadership of the Division Manager for SNBT.2, the Principal Business Process Officer will be responsible for supporting the fulfilment of the SNBT.2 mission, with accountability for the following:
    Business Process Reengineering Design:

    • Contribute to the maintenance of a catalog of key Bank business processes.
    • Contribute to the documentation of the “As-Is” processes in the catalog with detailed flow maps determining who (staff, managers, institutional structures) does what, when, how, and why.
    • Provide technical guidance and coordination to concerned Bank organization units on business process re-designing to improve delivery efficiency, enhance responsiveness to clients and competitiveness with peer service providers, increase development effectiveness.
    • Compile and track the performance metrics of the Bank’s major business processes, notably, the time required to execute processes.

    Business Process Reengineering Implementation:

    • Contribute to the implementation of “To-Be” processes and identify impacts on organizational structures, systems, information technology systems, and impacted people.
    • Update related organizational structures, policies, and procedures in collaboration with SNBT.1 and the concerned business departments.
    • Participate in the implementation of related information technology systems in collaboration with TCIS.1 and the concerned business departments.

    Change Management Implementation:

    • Participate in the development of the change management strategy and related plans for the adoption of the reengineered processes in collaboration with SNBT.1, the change management practitioners, and the concerned business departments.
    • Support the execution of the change management plans for all reengineered processes in collaboration with SNBT.1, the change management practitioners, and the concerned business departments.

    Competencies (Skills, Experience and Knowledge)

    • At least a Master's Degree or a professional qualification in Finance, Business Administration, Economics, Statistics, Operations research or related fields.
    • At least six (6) years of relevant and progressive professional experience in Finance, development work, or any related fields. Prior business transformation experience in the AfDB, similar MDBs or private sector will constitute a key success factor for delivery in this role.
    • Technical excellence and first-rate interpersonal and follow-up skills.
    • Strong analytical and strategic capabilities.
    • Sound understanding of the business and operational needs with proven capacity to innovate and promote change initiatives in policies and processes in large organizations.
    • Strong project management skills which demonstrate the ability to see the bigger picture without losing sight of the detail.
    • Ability to exercise sound judgement and creativity in identifying options and risks in order to escalate issues that have the potential to have a significantly adverse effect on the organization both in financial and employee relations terms.
    • Good/sound judgment and strong integrity.
    • Ability to collaborate in the context of cross-complex and corporate assignments.
    • Demonstrated ability to produce high quality work on a variety of issues with very short deadlines.
    • Ability to communicate and write effectively in English and/or French with a good working knowledge of the other language.
    • Competence in the use of Bank standard software applications (Word, Excel, PowerPoint), Knowledge of SAP is highly desirable.

    go to method of application »

    Principal Budget Programming Officer, SNPB.1

    Position Number: 50071863
    Position Grade: PL4

    The Complex

    • The Senior Vice-Presidency is responsible for supporting the President in the day-to-day management of the Bank Group to achieve its strategic objective and drive a performance culture that will align all processes and systems to deliver high-impact results.
    • The Senior Vice-Presidency will provide effective leadership and exceptional coordination to ensure the implementation and monitoring of key corporate decisions as well as the identification of necessary corrective measures and actions.
    • The Senior Vice-Presidency will lead Senior Management discussions, decision-making processes, and the implementation of Keyboard and Management decisions.

    The Hiring Department

    • The primary role of the Programming and Budget Department is to develop a strategic approach to planning and budgeting and to coordinate the definition, planning, implementation, and monitoring of Bank-wide programming and budgeting processes.
    • The Budget Execution Coordination Division is responsible for budget execution coordination support through the coordination of the work programme planning, budgeting, and resource management at the various complexes in close consultation with all stakeholders throughout the Budget cycle.
    • It is also responsible for performance monitoring and reporting on the implementation of the work program and budget.
    • It contributes to the development of Key Performance Indicators and provides quantitative and qualitative analyses of the Bank’s performance for information, control, and decision-making.
    • In addition, it is in charge of implementing capacity-building programs on budgeting and resource management.

    The Position

    • The position requires a good knowledge of the Institution or within a similar environment, the capacity for conceptual and strategic analysis, and a perfect command of financial and operational management matters, to be able to analyze and evaluate programming and budgetary matters critically and exhaustively.
    • The incumbent must demonstrate the capacity to conduct independent research and analyses, identify problems, propose solutions, and make recommendations to Management and the ability to prepare budget reports and documents for Senior Management and the Boards while working within specified timelines.
    • As such, high-level skills in communication and negotiation as well as the ability to build a 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;
    • Demonstrated ability to guide, lead, and motivate a group of professional and support staff to manage and deliver work programmes, ad-hoc assignments, and special projects in an effective and efficient way;
    • Excellent written and verbal communication in English or French with a working knowledge of the other.

    Key Functions
    Under the supervision and guidance of the Division Manager, Budget Programming, the Principal Budget Officer (Programming) will:

    • Drive the business planning process, set standards for organizational units’ business plans, monitor the elaboration of the Bank’s work program and budget and its submission to the Board of Directors, and ensure consistency and quality of plans with the Bank’s strategic orientations and objectives.
    • Contribute to the preparation of the Strategic Direction Note and the launching memorandum in conjunction with the relevant departments of the Bank.
    • Provide support in the coordination and in the preparation of the Bank’s Budget Framework Paper (BFP) and the Bank’s Programme and Budget Document (PBD) for submission to the Board of Directors
    • Liaise with Senior Management and concerned Complexes to formulate/update criteria and methodologies for determining country and sector resource allocations aligned with the Bank’s priorities to ensure efficient use of the Bank’s overall administrative budget.
    • Ensure that strategy and policy documents presented to the Board of Directors reflect clearly and comprehensively their budgetary implications, propose methodology for clearing such documents and ensure high quality control of Complexes’ input during the preparation of the Bank’s.
    • Conduct and coordinate additional corporate analysis on operational work program, lending performance and objectives as well as budget trends during the budgeting process.
    • Review and propose improvement of programming and budgeting processes.
    • Ensure the periodic update/review of the regulatory framework, and institutional governance of the programming, and participate in preparing Board documents on programming and budget processes enhancement.
    • Coordinate printing and ensure timely submission of the PBD to the Board of Governors.
    • Participate in the update of Administrative and Capital Budgets Preparation Guidelines.
    • Represent the department (and the Bank) at key Programming meetings and on important missions when requested to do so.
    • Serve as a focal point and spokesperson on Programming issues to external constituencies and expert Programming groups.

    Competencies (Skills, Experience, and Knowledge)

    • Hold at least a Master's Degree in Finance, Business Administration, Operational Research / Optimization, or a related discipline.
    • Have a minimum of six (6) years of relevant experience in resources and programs management of which three (3) years gained within international institutions or well-known corporate entities.
    • Knowledge of Budgeting policies, practices and regulations, Management Accounting, Time Management Systems, Operational Programming, Performance Measurement, and Strategic Planning.
    • Experience in the preparation of strategic reports and/or research publications and strong analytical skills.
    • Demonstrated capacity to initiate and manage innovations and changes.
    • Demonstrated ability to multi-task and manage time effectively to deal with multiple demands and deadlines with the ability to work as part of a multicultural team.
    • Having private sector experience will be an added advantage.
    • Strong leadership, client orientation as well as team working skills.
    • Capacity to diagnose and resolve multiple, concurrent problems as well as manage multiple, simultaneous, and shifting demands, priorities, and tight deadlines.
    • Ability to communicate effectively (written and oral) in English or French, preferably with a working knowledge of the other language.
    • Competence in the use of SAP or equivalent ERP Systems and standard MS Office applications (Word, Excel, Access, and PowerPoint).

    Method of Application

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