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.
Under the direction of the Treasurer and Director, Treasury Department (FTRY), the incumbent will supervise the work of the Capital Markets ad Financial Operations Division (FTRY.1). The role of the Capital Markets and Financial Operations Division) is among others, to: (1) Raise cost effective resources from the capital markets. The 2015 borrowing program has been set at about USD 6 billion; (2) Contribute to the Capital Increases process and administer the subscriptions of shareholders to the capital of the African Development Bank. The AfDB has 80 member countries and an authorized capital of about USD 100 billion; (3) Contribute to the ADF replenishment negotiations and administer the subscriptions of donors to the African Development Fund and Multilateral Debt Relief Initiative. Cumulative subscriptions by donors to ADF is about USD 35 billion; and (4) prepare the Financial presentation document of the Bank.
Duties and responsibilities
The Division must target financial instruments, structures and markets that will allow the Bank to raise funds at the most attractive levels as such levels determine the competitiveness of the Bank and its ability to fulfil its development mandate. Its activities should also be handled in the context of maintaining the Bank Group’s strong financial integrity, robust risk management framework as well as its overall objectives, policies and guidelines. The candidate will also be responsible for executing asset and liability management transactions to optimise borrowing costs; contribute to the Bank’s efforts in ensuring that it maintains its ‘AAA’ credit ratings; and promote the Bank’s image among shareholders, market participants, notably rating agencies, investment banks and investors. The Division also participates in all negotiations for capital increases of the Bank and replenishment of the Fund, and implements the resolutions related thereto, including managing the subscriptions and contributions of shareholders.
The candidate will manage and supervise the personnel and activities of the Division, determine the overall objectives, oversee the execution of the work program and ensure effectiveness use of the Division’s budget. Her/his duties and responsibilities will include the following:
Manage the implementation of the borrowing program and management of liabilities
Administer resources and subscriptions of the ADB, ADF and Multilateral Debt Relief Initiative (MDRI)
Participate in the Bank’s credit rating review 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; Lead the preparation of the administrative hedge of the Bank’s budget.
Including desirable skills, knowledge and experience
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