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The Private sector and Microfinance Department is recruiting 1 equity portfolio management officer at grade level PL-5.
Generally, under the supervision of the Division Manager, The Senior Portfolio Management Officer:
- Promote private sector development in regional member countries (RMCs) through financing and monitoring investments in private enterprises, public-private partnerships (PPPs) and projects in various sectors which are technically feasible, financially and economically viable, and environmentally sound and create optimum added value, without sovereign guarantees in accordance with sound banking principles.
- Provide and implement technical assistance and advisory services aimed at preparing or supporting private sector and PPP operations.
- Act as a catalyst in mobilizing domestic and foreign resources for investment in the private sector through co-financing operations with other institutions, commercial banks and Export Credit Agencies.
- Constantly aim at identifying new opportunities and develop creative ways to finance development
Context: During the recent years the Bank has seen a significant growth in its Private Equity Investments (direct and via private equity funds) both in Numbers of projects approved and amount of capital invested. The PE industry is seen as a catalytic mean to attain sustainable growth and development on the continent. As such, the PE industry fits in the Bank’s strategy to enhance inclusive growth and needs to be supported with adequate skills.
The main objectives of the position is to assist the Portfolio Management Division in (i) collecting, providing and processing structured data on the PE portfolio (direct investments and investments through funds), (ii) assist project managers in all aspects relating to portfolio management (iii) Pooling and organising information on the Funds monitoring and performance (iv) assist in monitoring and managing the private sector PE portfolio to achieve the Bank’s development and financial objectives (vi) providing portfolio analysis to management and developing appropriate policies, guidelines, Procedures and strategies (vii) assist in developing a knowledge base on the PE industry
Duties and responsibilities
- Participate in project supervision missions and prepare supervision reports as well as Advisory Committee Meetings;
- Coordinate nominations and compile BTORs from Board representative of direct equity investments’ Board meetings
- Monitor compliance with attributed project legal agreements including timely reporting requirements;
- Identify problems in assigned projects and carry out corrective actions with supervisors for preventing further deterioration;
- Assist in the analysis of projects and portfolio trends and report on portfolio quality in terms of financial performance, operational performance, environmental impacts and development effectiveness;
- Produce necessary BTORs, PSRs, ASRs, XSRs for assigned projects;
- Assist the internal and external auditors to perform periodic review of internal controls. Where weaknesses are identified, consult with the PE team and agree on the appropriate measures to strengthen internal controls;
- Assist the operations evaluation team to improve the quality of project data and indicators used to measure project performance and impact;
- Monitor and apply key performance indicators for the Bank’s Private Equity Funds and direct equity investments;
- Up-to-date archiving of Private Equity projects’ reports and other documentation.
- Attend seminars/conferences/workshops dealing with Private Equity development on the continent to enhance PE industry knowledge ;
- Ensure and monitor up-to-date and timely reporting by Fund Managers and investee companies and produce review of quality of reports;
- In collaboration with others (OPSM PE Unit, consultants, and wider AfDB interest groups as appropriate) produce review of guidelines for appointment of AfDB representatives to governance bodies of funds and direct investments, maintain the PE manual up to date;
- Handle other ad hoc assignments as requested by the management team of OPSM.
Private Equity Investment Foundation Basis
- Assist in the organization of internal workshops, meetings and training sessions to enhance general PE industry knowledge inside the Bank ;
- In coordination with the Private equity portfolio management team, have and exposure to stages in the PE investment process and monitoring of PE funds.
- Be current with all developments on PE Investments in Africa through training, monitoring of general news sources and participation in external activities;
Dealflow analysis and filtering
- Participate in compilation of full equity investments dealflow for OPSM department and the Bank
- Produce filtering / screening check list.
- Work with other OPSM Divisions on assigned projects to ensure effective filtering of proposals and alignment with existing strategy & policy.
With the objective of dissemination of lessons learned and improve quality at entry of potential equity investments:
- Participate in project identification missions in selected RMCs in the various sectors in which the Bank is active. Such missions normally lead to the development of a pipeline of bankable projects, technical assistance programs and potential advisory services to be considered by OPSM.
- Participate in preliminary evaluation of project proposals to assess their feasibility for financial assistance and/or technical support by the Bank. This involves the initial screening of project applications, carrying out of desk reviews and evaluation of feasibility studies
- Participate in appraisal and fact-finding missions. This includes developing terms of reference for the mission and for short-term consultants to be engaged for the mission; carrying out independent research on the investment climate, project sponsors, management, economic, financial, marketing, technical, environmental and legal aspects of the project. The work includes assessing the risks of projects and advising origination teams on appropriate mitigating measures; structuring/restructuring of projects to minimize financial risks; participating in negotiations on financing terms and legal conditions for the proposed investment/loan by the Bank.
- Participate in the review of project appraisal reports for presentation to the Department, the various review committees and finally to the Board of Directors. This usually involves working with the investment analysis and modelling team to build and use the appropriate models for carrying out financial and economic analyses of the project; developing recommendations and justifications for the investments and defending these to the various levels of decision makers.
- Ensure that all conditions precedent have been fulfilled on a timely basis and all fees are billed and collected from clients.
- Assist with disbursements to projects and ensure a smooth transition of primary responsibility from the origination team to the portfolio management team. Thereafter, ensure effective monitoring and supervision of the originated equity investments (direct and indirect) in the portfolio.
- Develop relationships within the Bank and with other institutions involved in private sector development and private equity investments (exchange of information on projects, policies, operational experience etc., identification of co-financing opportunities, organization of joint promotional activities etc.); Attend seminars, workshops and conferences dealing with private sector issues and private equity investments (financial institutions, services and industries, infrastructure).
Including desirable skills, knowledge and experience
- At least a Master’s Degree in Business Administration, Finance, Banking or related areas, plus preferably a Bachelor Degree in engineering, finance, law or economics with knowledge of equity valuation methods in various sectors.
- Preferably a minimum of 5 years of relevant experience.
- Good communications’ skills and teamwork attitude, ability to build partnerships and deliver results that meet the needs and long-term interest of clients within and outside the institution.
- Ability to work independently and be creative and innovative.
- Integrity and ability to work in team.
- Good listener with demonstrated ability to present and win support for ideas as well as make effective and timely decisions;
- Excellent written and verbal communication skills in English and/or French, and preferably with a working knowledge of the other language.
Method of Application
Interested and suitably qualified candidates should click here to apply online.