Latest Vacancies at the African Development Bank (AfDB)

Reference: ADB/17/538
Location: Côte d’Ivoire
Grade: PL4
Position N°: 50076382

The Complex

• The Vice Presidency for Finance 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 Hiring Department/Division

• The role of the Financial Management Department (FIFM) is to develop and promulgate policies and guidelines relating to the financial management for the Bank Group.
• It also ensures internal consistency of all financial policies and guidelines, including those initiated and developed by the other departments in the Bank, as well as monitors and reports on compliance.
• As an integral part of the financial management process of the Bank Group, the FIFM.1 division is responsible for developing and direct the Asset and Liability Management (ALM) function, which is concerned with strategic balance sheet management involving risks caused by changes in the interest rates, exchange rates and the liquidity position of the Bank Group.

The Position
The responsibilities of this Position are to:

• Prepare and periodically update financial projections for the ADB, ADF and NTF.
• Support the Bank Group’s resources mobilization efforts through the production of relevant data, projections, financial analyses and reports.
• Design, upgrade, implement and maintain the ALM IT Analytics System/Processes and financial models used by the Division to maintain an adequate risk management infrastructure.

Duties and Responsibilities
Under the supervision of  the Division Manager – FIFM1 the Principal Financial Risk Officer will perform the following:

• Develop, implement back-tests and monitor key financial models that drive the risk profile of the Bank Group’s balance sheet and income margin.
• Liaise with CHIS for the development or enhancement of the ALM IT infrastructure.
• Contribute to the elaboration of the Bank’s annual medium-term financial performance outlook (MTFO) paper and the Programme Budget Document (PBD).
• Conduct pricing, valuation, and behavioral analysis of Balance Sheet products in order to ensure a fully integrated risk analysis.
• Lead the study of specific products and how their structure should be modeled in order to reflect how their profiles impact the Bank Group risk profile.
• Prepare background working papers on the Bank’s and Fund's resource mobilization initiatives such as general capital increases and ADF replenishments.
• Maintain of the integrity of Risk Management Analytics System/Processes with consideration for data, assumptions, processes and reporting through automation, reconciliation, and documentation.
• Provide diligent response to analytic requests from senior management, generated in the requested format or, in the absence of a suggestion, in a format that will be most useful to the senior manager's purpose.

Selection Criteria
Including Desirable Skills, Knowledge and Experience

• Hold at least a Master's Degree in a quantitative field such as Finance, Statistics, Mathematics, Economics or related discipline.
• Have a minimum of Six (06) years of relevant experience in a bank or a similar financial institution or a related consulting role, with at least 3 years in an ALM role or a related role in financial risk management.
• Proven experience in implementation of ALM Framework and in financial modelling
• CFA and FRM/PRM professional qualification.
• Experience with an MDB or in the financial services industry with emphasis in quantitative risk, highly valuable.
• Private sector experience is advantageous
• Expert knowledge of balance sheet management and complex financial instruments;
• Excellent analytical skills
• Experience of forecasting P&L and balance sheet of a financial services / banking entity.
• Project management skills
• Proficiency in programming (e.g. VBA, SQL, MatLab etc…)
• Knowledge of Risk Management Software
• Knowledge and experience of a broad suite of FM (financial management) products/solutions would be an advantage.
• Knowledge of SAP and SUMMIT is advantageous
• Innovation & Creativity
• Communication
• Client Orientation
• Problem Solving
• Team working and relationships
• Operational Effectiveness
• Ability to communicate effectively (written and oral) in English or French preferably with a working knowledge of the other.
• Competence in the use of standard MS office applications (Word, Excel, Access, and PowerPoint) and SAP.

go to method of application »

Reference: ADB/17/537
Location: Côte d’Ivoire
Grade: PL4
Position N°: 50000922

The Complex

• The Vice Presidency for Finance 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 Hiring Department

• The Treasury Department is responsible for raising funds from capital markets, managing and investing the Bank Group’s liquidity and shareholders’ funds, processing and settling all financial transactions and managing the institution’s banking relationships.

The Position

• The Principal Investment Officer will be responsible for managing multiple fixed income investment portfolios for several entities of the African Development Bank Group.
  

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

Portfolio management:

• Manages the Bank Group's assets in its liquid currencies with the objective of capital preservation, profitability, and liquidity maintenance according to the investment guidelines of each specific entity by executing transactions in securities and derivatives such as swaps and futures; identify and execute investment and trading opportunities within risk parameters. The Principal Investment Officer is expected to manage large liquidity portfolios amounting to several billion Units of Accounts.
• Manages the cash collateral portfolios by ensuring the investment of cash received as credit support in short-dated instruments with the objective of covering the financial costs.
• Supports the development of the Investment Process and participates in the implementation of the Strategic Asset Allocation.
• Executes the Bank’s short-term funding strategy by issuing European Commercial Papers to cover short-term liquidity gaps, posting regular levels for European Commercial Papers to increase the visibility of the Bank and assessing other alternative short-term funding options such as repo transactions.
• Contributes to the credit analysis process by ensuring that specific issuers/counterparties are assessed to ensure their creditworthiness.
• Contributes to the selection process for external portfolio managers by assessing proposals; reviews external portfolio managers’ activities to ensure adequate management of the Bank’s assets by conducting regular meetings and reviewing performance reports.
• Leads key projects on innovation in investment products and strategies by submitting concrete proposals to the Division Manager and Chief Investment Officer. The Principal Investment Officer is expected to be able to lead projects throughout their lifecycle: from their inception to Board approval and then follow up with their implementation.

Financial Policies:

• Contributes to the formulation and reviews the African Development Bank Group’s financial policies by making appropriate policy recommendation to Senior Management, the Board and Asset and Liability Committee; participates in the review of other financial policies including borrowing and currency management policies by providing feedback to proposals from other Divisions.
• Ensures that Process manuals of the Division are up-to-date by contributing to their periodic review.

Market Intelligence & Reporting:

• Monitors political, economic and market developments and assess their implication for the Bank's assets and investment strategy. Monitors Central Banks activities to assess developments in their monetary policies and their implication for interest rate trends and the formulation the investment strategy for the Bank's Investment Portfolio.
• Keeps Division Manager and Treasurer up-to-date on the investment strategy and developments in the financial markets by (i) providing regular updates at Strategy Meetings and through notes, (ii) responding to information requests from the Treasurer, Asset and Liability Committee, the Board, and the rest of the Bank, (iii) producing monthly and quarterly reports presenting performance results and market developments (iv) producing weekly economic and bond market reports prepared by the division.

Advisory & Capacity Building:

• Provides technical assistance to other divisions in areas of risk hedging, fixed income trading, and valuation of bonds and derivatives by reviewing reports produced by other divisions and responding to specific technical requests.
• Provides advisory services and technical assistance to African Central Banks and other financial institutions on fixed income investment management, and risk hedging by responding to specific technical requests or reviewing proposals or policies.
• Designs courses and programs targeted at senior management, middle managers and officers of Central banks and other financial institutions.

External Relationships:

• Maintains and manages professional relationships with the investment community, dealer counterparties, central banks and other professionals operating in financial markets, by providing responses to information requests, representing the Bank at conferences and contributing to the expansion of the list of existing Global Master Repurchase Agreement and International Swaps and Derivatives Association agreements.

Analytics, Models and System Development:

• Contributes to the development of analytics tools in the team to improve the team’s capacity to capture and monitor risks; such improvements include the implementation of portfolio analytical tools, such as Profit and Loss attribution analysis, cash flow projections analysis.
• Leads key system development projects designed to improve operational efficiency; Examples include the functional testing of the deployment of Straight-Through Processing and electronic trading platforms.

Selection Criteria
Including desirable skills, knowledge and experience:

• Hold at least a Master’s Degree or its equivalent in Finance, Economics, Mathematics, Statistics or another relevant quantitative discipline. Relevant professional certification such as Chartered Financial Analyst (CFA) or ICMA is a plus.
• Have a minimum of six (6) years of relevant and practical experience in International Capital Markets in general and with special emphasis on active management of complex fixed income portfolios.
• Strong knowledge and understanding of financial instruments, particularly bonds, structured products, derivatives, and risk management concepts; Proven credit analysis and financial modelling skills; strong numeracy skills.
• Experience in exercising a related/similar function in another Multilateral Development Banks, investment bank or top tiers asset managers.
• Private sector experience will be an added advantage.
• Takes ownership for projects, establishing key deliverables and timelines, consistently following up with others to ensure target dates are met.
• Provides guidance to others in developing themselves within their area of expertise.
• Ability to communicate effectively (written and oral) in English or French, preferably with a working knowledge of the other language.
• Demonstrate a strong work ethic.
• Good knowledge of the use of standard software (Word, Excel, Access, PowerPoint, and web tools); Excel VBA programming skills is desirable.
• Hands-on experience with Treasury systems such as Bloomberg is required; Hands-on experience with Summit and Numerix is advantageous.