The primary role of the Financial Sector Development Department (OFSD) is to help the regional member countries (RMCs) increase reach (e.g. financial inclusion), depth (e.g. financial intermediation), and breadth of financial systems (e.g. capital market, cross-border development). The mission of the Department has four long-term objectives: (i) development of a vibrant private sector through an inclusive access by households and enterprises to financial services; (ii) strengthening markets participants; (iii) developing efficient capital markets, and (iv) deepening regional financial integration.
The Financial Markets Division (OFSD3) of OFSD will focus on projects aiming to create more efficient financial markets and institutions capable of mobilizing domestic savings and allocating scarce capital. Because investment finance provided by the development community supplies only a minute fraction of the capital used by private agents across Africa, OFSD3 will endeavor to channel the Bank Group’s lending resources in ways that develop national and regional capital markets.
Duties and responsibilities
The Senior Financial Markets Officer will work under the guidance and supervision of the Division Manager. Her/His duties and responsibilities will include:
1. Participating in the preliminary evaluation of both lending and non-lending projects. This involves the initial screening of project applications, carrying out of desk reviews and evaluation of feasibility studies, preparing preliminary evaluation notes for presentation to the Department Management Team and more detailed project concept notes to obtain concept clearance for full appraisal or fact-finding missions;
2. Participating in the planning and execution of appraisal and fact-finding missions. This includes developing terms of reference for the mission team and coordinating its work. You will be responsible for assessing the risks of projects and advising on the appropriate structure and conducting preliminary negotiations with sponsors;
3. Participating in the preparation of project appraisal reports for presentation to the Department, the various review committees and finally to the Board of Directors;
4. Supporting the origination, development, structuring and execution of innovative complex fixed income financial structures and transactions, including using derivatives, or risk management instruments for both private and public sector clients;
5. Leading/co-leading transactions through the project life cycle. Contribute to the formulation of regional and country strategy papers, when requested, as well as providing ongoing feedback to sector manager, on the relevance of any lending, non-lending, or technical support;
6. Developing relationships within the Bank and; represent the Bank and participate in seminars, workshops and conferences dealing with financial markets issues;
7. Maintaining knowledge of African financial markets/transaction structuring and provide market intelligence;
8. Building and maintain strong relationships with clients, global and regional private businesses, banking and multilateral partners and government officials to further develop the sector and to develop specific investment opportunities.
Including desirable skills, knowledge and experience
1. A minimum of a Master’s degree or its equivalent in Development Economics or any other discipline that is relevant to the operations of the Bank; strong knowledge of socio-economic development issues and policies of African countries;
2. A minimum of five (5) years of relevant professional experience;
3. Demonstrated knowledge of the operational policies, procedures and practices of major bilateral and multilateral development agencies;
4. Proven track record in the structuring of a range of Bank products, such as loans, guarantee products and technical assistance programmes;
5. Prior experience in infrastructure finance, corporate finance and financial sector development;
6. Demonstrated financial markets knowledge particularly in relation to fixed income instruments, interest rate derivatives, equity and risk management products;
7. Proven expertise in negotiating complex hedging products financial terms including pricing and product documentation;
8. Demonstrated capacity in dealing with different type of clients (private / public) and projects (financial markets, infrastructure, corporate finance);
9. Excellent organizational, analytical, coordination and communication skills;
10. Integrity, and ability to work under pressure and to deliver timely quality services;
11. Ability to work accurately, methodically and to meet deadlines;
12. Ability to work independently or within a team; demonstrated mature sense of judgment;
13. Ability to work and cooperate with others from diverse backgrounds;
14. Excellent written and verbal communication skills in English and /or French;
15. Competence in the use of Bank standard software (Word, Excel, Access and Power point).
Interested in this position, apply on AfDB's career website