African Development Bank (AfDB) - Established in 1964, the African Development Bank is the premier pan-African development institution, promoting economic growth and social progress across the continent. There are 80 member states, including 54 in Africa (Regional Member Countries).
The Bank's development agenda is delivering the financial and technical support for transformative projects that will significantly reduce poverty through inclusive and sustainable economic growth. In order to sharply focus the objectives of the Ten Year Strategy (2013 - 2022) and ensure greater developmental impact, five major areas, all of which will accelerate our delivery for Africa, have been identified for scaling up, namely; energy, agro-business, industrialization, integration and improving the quality of life for the people of Africa.
The Special Operations Unit (SOU) forms part of the Infrastructure, Private Sector and Regional Integration Vice Presidency (OIVP) which is responsible for all private sector operations falling under the Bank’s private sector development strategy. The SOU provides specialized knowledge and services to resolve distressed and underperforming investments and assists with the identification and management of investments on the Bank’s watch list.
Accountability and Objectives:
The SOU’s main responsibility is assessing underperforming and problem investments and leading the workout, restructuring, turnaround or in some cases re-capitalization of these companies. The SOU is currently seeking consultants with expertise in active, hands-on distressed investment workout and NPL management including financial restructuring, refinancing or other recovery solutions for jeopardy as well as potentially distressed investments that preserve to the extent possible, the Bank’s development impact in Africa. SOU undertakes its work either independently or jointly with portfolio management units, with SOU often taking the lead on major and complex underperforming investments and restructurings. The SOU consultancy assignment will initially be for a 6 month period.
Duties and responsibilities
Under the supervision of the Head of SOU, the SOU consultant will:
1. Preparation of financial forecasts and perform cash flow analysis to determine the debt carrying capacity of borrowers and the return potential for equity investments, participate in due diligence of companies and determine, document and present options for approaching investment resolutions (e.g. trade sale, restructuring, refinancing, turnaround, workout, enforcement and insolvency processes, debt for equity swaps or any other rescue approaches);
2. Conduct business reviews to understand the issues facing companies and offering practical solutions; interact with accountants, legal, financial and sectoral consultants; interact with senior management of investee companies; liaise with other co-investors and DFIs and construct financial and valuation models with sensitivities as required;
3. Prepare action plans and different resolution options for each non-performing or impaired investee company to be presented to the internal Credit Risk Committee including recommendations to resolve problem investments whilst understanding the need to protect the over-arching developmental mandate of the Bank;
4. Monitor the financial and operational performance of impaired investments and effect execution and implementation of agreed workout strategies;
5. Prepare regular reports as required on all investment resolution activities;
6. Identify lessons learned to disseminate SOU’s workout experience to other investment departments within the Bank.
Including desirable skills, knowledge and experience
1. A minimum of a Master’s degree in Finance, Accounting, Investment or in a relevant area.
2. Demonstrable track record and professional experience of working either in a workout or recovery team for a bank or financial institution or having worked for a major accounting or consulting firm advising clients on workouts, restructurings, or non-performing investments or portfolios;
3. At least 10 years relevant recovery and turnaround experience involving single underperforming debts in the private sector;
4. Sectoral skills in Infrastructure, Power, Natural Resources, Aquaculture and Hotels and Leisure would be ideal;
5. Strong technical knowledge and proven track record of debt resolution of individual investment transactions;
6. Demonstrable experience of acting as a consultant to problem investments.
7. Ability to quickly understand the issues and inherent risks of specific investments under review and advising on the most appropriate course of action and the associated consequences of each action;
8. Diverse experience both geographically and sectorally of investing and divesting across different types and sizes of businesses. International investment experience is a must. Understanding cultural sensitivities is key to this role;
9. Ability to assess the effectiveness and efficiency of incumbent management teams, making recommendation on how to change or improve teams in investee companies;
10. Knowledge and experience in valuation of listed and unlisted equities and ability to assess proposed exit strategies. Experience with Private Equity Funds adding value to investments would be an advantage;
11. Strong analytical and modelling abilities and ability to lead transactions from inception to completion;
12. Sound business judgment, with creative problem solving skills and ability to think laterally in order to solve problems;
13. Ability to build effective client relationships (both internally and externally);
14. Advanced corporate negotiating and influencing skills in workout environment;
15. Ability to work under pressure and deliver high-quality work within tight deadlines;
16. Excellent oral and written communication skills, in English and/or French, including demonstrated ability to communicate complex ideas clearly and concisely.
The core mandate of the African Development Bank Group’s Independent Development Evaluation Department (IDEV) is to conduct independent evaluation studies, provide relevant lessons, develop and harmonize standards and practices, support evaluation capacity development together with partner agencies and attest to the validity of both processes and the results of self-evaluation activities.
Further to the implementation of the Independent Evaluation Strategy 2013-2017, including a new structure for IDEV, the Project and Programme Evaluation Division (IDEV.1) has become the Private Sector and Infrastructure Evaluation Division. It implements all evaluations related to the Private Sector and Infrastructure interventions of the Bank. The High Level Evaluations Division (IDEV.2) has become the Country, Regional and Corporate Evaluations Division. It implements all evaluations related to the interventions of the Bank through its country and regional strategies and programs, and in “soft” sectors such as human development and governance. It also implements institutional evaluations.
Duties and responsibilities
Under the general supervision of the Division Manager, IDEV1 & 2, the incumbent will contribute to the evaluations of the Bank’s activities including projects, countries, sectors, or thematic and corporate priorities.
1. Evaluation Activities
a. Carry out components of evaluations in accordance with the Bank’s Evaluation Policy and Manual and international evaluation standards e.g. Evaluation standards from the Development Assistance Committee (DAC) of the Organization for Economic Co-operation and Development, and Good Practice Standards from the Evaluation Cooperation Group (ECG). This includes:
- Conduct literature and document reviews
- Frame evaluation questions.
- Develop Evaluation Matrix
- Develop evaluation design (e.g., randomized, quasi-experimental, non-experimental) and identify limitations.
- Identify data sources, data gaps and develop strategies to address data gaps.
- Develop and apply sampling strategy.
- Collect, assess, analyse and interpret data. Code data against coding schemes.
- Develop Theory of Change and assess program rationale
- Identify/quantify results (intended and unintended)
- Identify/evaluate alternative delivery models
- Use evaluation-related software
- Assist the Task Manager in developing the performance story based on the analysis of evaluation findings. Contribute to the writing of evaluation reports
- Supervise the work of junior analysts.
b. Quality Management
- Support the Task Manager in establishing an effective quality management process including contributing to the terms of reference for internal and external peer-review.
- Provide regular written progress reports to IDEV management to update them on ongoing evaluations.
c. Stakeholder Engagement and Communication
- During the evaluation process, consult widely and engage regularly with Bank’s staff both at headquarter and field office levels.
- Identify any improvements to the evaluation process that IDEV may consider for future evaluations as part of its learning and communicate these lessons to IDEV management and staff.
2. Contribute to the creation of an evaluation culture in the Bank and in Regional Member Countries (RMCs):
a. Promote the use of evaluation as an effective accountability and learning tool in the Bank and RMCs.
b. Support evaluation capacity development initiatives within the Bank and in RMCs.
c. Contribute to the development of innovative communication tools (briefs, highlights sheets, tip sheets etc.) that are targeted to different audiences (e.g., policy-makers) and select appropriate communication channels (social media, web sites, conferences etc.) to optimize the use of evaluation findings.
d. Contribute to the review, analysis and provision of comments on documents prepared by Country and Sector Departments and other Units of the Bank to ensure that lessons of experience are duly incorporated in the design of Bank Group policies and operations.
e. Provide support in organizing meetings, workshops and other discussion fora to establish dialogue on evaluation results.
f. Draft oral or written answers to enquiries about IDEV’s evaluation work.
3. Support, management and contribute to positioning IDEV as an innovator and leading-edge among other multilateral institutions and to maximizing the effectiveness and efficiency of the Bank’s Evaluation Function:
a. Contribute to the development of state-of-the-art methodologies, approaches and tools to be used in evaluations that assess the relevance, efficiency, effectiveness and sustainability of the Bank’s activities in projects, countries, sectors and, thematic and corporate priorities.
b. Keep abreast of new international trends and developments in the evaluation profession and in the area of international development. Share these with team members and colleagues.
c. Engage in evaluation communities of practice within and outside the Bank
Including desirable skills, knowledge and experience
· A minimum of a Master’s degree with specialization in economics, sociology, statistics or public administration or an equivalent combination in terms of training and experience.
· A minimum of four (4) years’ experience in contributing to components of evaluations and/or research projects
· Experience in contributing to the writing of evaluation and/or research reports
· Experience using relevant computer software for data analysis purposes and using Bank standard software (Excel, Word and PowerPoint).
· Knowledge of the Bank’s mandate, strategic priorities, policies and operations.
· Knowledge of evaluation theory, frameworks, process, methodology:
- Bank’s Evaluation Policy and manual; OECD DAC Evaluation Standards, ECG Good Practice Standards.
- Different types of evaluations.
- Evaluation design.
- Quantitative and qualitative methods.
· Knowledge of developments and trends in international development.
· Ability to analyse complex issues
· Ability to operate under pressure and adapt to changing priorities
· Ability to communicate effectively orally and in writing
· Ability to act with independence, objectivity, and integrity at all times.
· Effective interpersonal skills
· Detail Oriented
Proficiency in English and/or French and working knowledge of the other language.
To apply, visit AFDB Career Page