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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...
Grade: PL-2
Position N°: 50000898
Reference: ADB/16/115
THE COMPLEX:
The Vice Presidency for Finance (FNVP) 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 Finance Complex is also responsible for the development of and training on the financial products of the Bank Group. In addition, the Administrator of the Staff Retirement Plan (SRP) reports to the Vice President FNVP.
THE HIRING DEPARTMENT/DIVISION:
The role of the Capital Markets and Financial Operations Division (FTRY1) is among others, to: (i) Raise cost effective resources from the capital markets; the 2015 borrowing program has been set at about USD 6 billion; (ii) Contribute to the Capital Increases process and administer the subscriptions of shareholders to the capital of the African Development Bank (ADB). The ADB has 80 member countries and an authorized capital of about USD 100 billion; (iii) Contribute to the African Development Fund (ADF) replenishment negotiations and administer the subscriptions of donors to the ADF and Multilateral Debt Relief Initiative (MDRI); cumulative subscriptions by donors to ADF is about USD 35 billion; and (iv) prepare the Financial presentation document of the Bank.
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 POSITION:
Under the supervision of the Director Treasury Department (FTRY), the Division Manager will principally be responsible for the implementation and execution of the African Development Banks annual borrowing program as approved by the Board of Directors. This will entail raising resources from the capital markets in a cost effective manner with view to financing the Banks clients at attractive levels as well as in meeting the Bank’s liquidity and cash requirements The Division Manager will among other activities ensure strict compliance with guidelines prescribed by the Bank’s financial regulations and long-standing practices, relevant operating procedures manuals, the Asset and Liability Management (ALM) guidelines as well as apply best practices for the funding of capital markets transactions and keeping abreast of trends in those markets and reporting these as appropriate to the relevant organs of the Bank. The Manager will develop and lead the Division’s work program and is responsible for attainment of relevant key performance indicators assigned to the division.
The Manager will be responsible for providing leadership and supervising the implementation of the ADF financing framework, the management of subscriptions of the capital of the Bank and the MDRI. He/she will advise Management and participate in technical discussions related to Bank capital increases and replenishments of ADF.
Duties and responsibilities
The Division Manager will manage and supervise the personnel and activities of the Division, determine the overall objectives, oversee the execution of the work program and ensure effective use of the Division’s budget. Her/his duties and responsibilities will include the following:
Selection Criteria
Including desirable skills, knowledge and experience
Grade: EL5
Position N°: 50064864
Reference: ADB/16/116
THE HIRING 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 objective, and drive performance culture that will align all processes and systems to deliver high impact results. The SVP 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 SVP will lead senior management discussions, decisions-making process and the implementation of key board and management decisions.
THE HIRING DEPARTMENT/DIVISION:
The Director, Special Operations to be housed under the SVP to support the President and SVP on important time-bound projects that are complex and critical and need coordination across multiple complexes.
THE POSITION:
The Bank’s Board of Directors have approved the Development and Business Delivery Model (DBDM) for scaling up the Bank’s operations and meeting its Ten Year Strategy through the High5s. Following this, the five Strategies for implementing the High5s have either already been approved or are awaiting approval by the Board. In addition, the Bank launched a New Deal on Energy and the Board also recently approved the proposal for updating the Bank’s Decentralisation Action Plan in support of the DBDM. In order to ensure the successful implementation of these initiatives, the President announced the establishment of a Transition Management Team (TMT) and the Delivery and Accountability and Process Efficiency Committee (DAPEC). With the return of the Bank to its Headquarters, there is a need for the strategic implementation of a world-class facilities plan that is fit for the Bank’s purpose.
Given these strategic and critical organizational initiatives and projects, the Director Special Operations, will be responsible for cross-Complex project management, strategic planning, and implementation support as assigned by the Senior Vice President (SVP) and/or the President (PRST). The position is housed in the office of the Senior Vice President.
Duties and responsibilities
Selection Criteria
Including desirable skills, knowledge and experience
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