Principal Investment Officer at the African Development Bank Group (AfDB)

Reference: ADB/17/345

Grade: PL4
Position N°: 50069787

The Complex

• The Vice-Presidency for Private Sector, Infrastructure and Industrialization is central to the Bank’s mission of developing the private sector, improving infrastructure and accelerating industrialization.
• The complex main functions are to:
  • Strengthen the enabling environment for private sector [and financial sector] development conducive to inclusive growth and sustainable development,
  • Support the development of reliable and sustainable infrastructure, including cities and urban development, and
  • Place renewed emphasis on industrial and trade performance in support of structural transformation across Africa.
• The Complex leverages knowledge, co-financing, and partnerships to attract private capital and work with governments on delivering the Bank’s development agenda.

The Hiring Department/Division

• The role of the Bank’s Private Sector Development Department is to promote private sector in Regional Member Countries, ensuring that it plays a central role in laying the foundations in the development role of the Bank, in line with the Bank’s 10 Year Strategy and HI 5 initiatives.
• As part of the Private Sector Development Department, the Strategy and Transaction Support Division is responsible for preparing strategies, policies, guidelines, and analytical tools relevant to the private sector development; it also ensures global client management and undertakes specialized assignments for the Regions and the Sectors.
• It also provides ad hoc advice on transaction bankability and structuring of transactions.

The Position
The purpose of the job is as follows:

• Promote private sector development in North Region (RDGN) through financing private enterprises, and projects, in the sectors of Manufacturing, Agriculture and Service (MAS), 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 technical assistance and advisory services aimed at preparing and/or supporting private sector 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.

Duties and Responsibilities
Under the general guidance and supervision of the Division Manager, the Principal Investment Officer will perform the following duties and responsibilities:

• Participate in or lead the planning and execution of promotion and project identification missions in North Region (RDGN). Such missions normally lead to the development of a pipeline of bankable projects, technical assistance programs and potential advisory services to be considered by the Bank.
• Participate in and lead the preliminary evaluation of project proposals and assess their feasibility for financial assistance and/or technical support by the Bank.
• This involves the initial screening of project applications, carrying out desk reviews and evaluation of feasibility studies, preparing preliminary evaluation notes for presentation to the various Committees for inclusion in the pipeline, and writing project concept notes submit to clearance for full appraisal or fact-finding missions.
• Participate in and lead the planning and execution of 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; coordinating the work of the mission team which usually includes professional staff from other departments within the Bank; carrying out independent research on the investment climate, project sponsors, management, economic, financial, marketing, technical, environmental and legal aspects of the project.
• The work also includes assessing the risks of projects and advising sponsors on appropriate mitigating measures; structuring/restructuring projects to minimize financial risks; participating in negotiations, and where relevant conducting preliminary negotiations with sponsors on financing terms and legal conditions for the proposed investment/loan by the Bank.
• Prepare and lead the preparation of project appraisal reports for presentation to 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 analysis 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 first disbursement have been fulfilled on a timely basis and all fees are billed and collected from clients.
• Process and oversee the first disbursement to projects and ensure a smooth transition of primary responsibility for the project to the portfolio management team. Thereafter, assist the portfolio management team to ensure effective monitoring and supervision of the originated projects in the portfolio.
• Develop relationships within the Bank and with other institutions involved in private sector development (exchange of information on projects, policies, operational experience etc., identification of co-financing opportunities, organization of joint promotional activities etc.); Represent the Bank at and participate in seminars, workshops and conferences dealing with private sector issues.

Selection Criteria
Including Desirable Skills, Knowledge and Experience

• Hold at least a Master's Degree or its equivalent in Business Administration, Finance, Banking or related areas.
• Have a minimum of six (6) years of professional, relevant experience, ideally in an international investment bank, commercial bank or private equity firm.
• Having private sector experience will be an added advantage.
• Disciplined approach whilst maintaining creativity and lateral thinking for effective problem solving;
• Sense of initiative and innovation in proposing solutions to client needs.
• Ability to deal with sensitive issues in a multi-cultural environment and to build effective working relations with colleagues.
• Strong interpersonal, communication and negotiation skills.
• Highly motivated, committed to highest ethical standards.
• Excellent organizational, administrative, and time management skills with proven ability to work promptly and efficiently under pressure and meet tight deadlines.
• Strong financial and credit skills; demonstrated ability to structure a variety of complex financial instruments (debt and sub debt).
• Knowledge of the Manufacturing, Agriculture and Service (MAS) sectors; equity investment and/or project finance; investment transaction experience in Africa.
• Ability to build partnerships and deliver results that meet the needs and long-term interest of clients within and outside the institution.
• Sound business judgment in identifying potential business partners.
• Ability to communicate effectively (written and oral) in English or French, preferably with a working knowledge of the other.
• Competence in the use of Bank standard software (Word, Excel, Access, PowerPoint). Knowledge of SAP is desirable.