Associate, Credit Monitoring at Africa Finance Corporation (AFC)
Posted on: 10 January, 2019
Deadline: 18 January, 2019
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Africa Finance Corporation (AFC) - Established in 2007, the Africa Finance Corporation (AFC) is a private sector-led investment bank and development finance institution created to help mobilize and channel required capital towards driving Africa’s economic development. AFC’s mission is to address Africa’s development needs in a profitable way, creating benefits for both investors and societies in the region.
- Ensure that AFC’s Enterprise Wide Risk Management Framework (EWRMF) remains effectively embedded in each of the key risk areas of credit, market, operational risk, and environmental and social risk management with a special focus on credit risk analysis, market risk analysis, obligor performance, portfolio management, portfolio monitoring and MIS support.
- Perform the Portfolio Management function within Risk Management , ensuring adherence to approved Portfolio Management policies, processes, procedures and reporting, ensuring adherence to required standards by transaction teams in preparation and submission of Quarterly Monitoring Reports, timely submissions from transaction teams to the Monitoring Committee, Risk Management Committee (RiskCo) and effective support for the credit, market, operational, environmental & social risk management, compliance (KYC/AML) criteria and risk assurance functions.
Principal Duties and Responsibilities
- Work with the Chief Risk Officer (CRO) and Risk Managers to ensure the efficacy of the Portfolio Management function within Risk Management, including adherence to policies, processes and procedure, timely submission of management reports, the effective monitoring of approved limits for infrastructural sectors and sub sectors, country limits and approved Treasury related exposures, limits and funding baskets and to flag breaches.
- Work with Risk Managers and Transaction Teams to ensure timely submission, and high quality content, of Quarterly Monitoring Reports to Risk Management, work with Risk Managers to prepare and submit risk assessment of Quarterly Monitoring Reports to INVESTCO, and to ensure effective follow up as directed by the CRO.
- Preparation of timely submissions to RiskCo and of timely delivery of Management Reports for consideration by Executive Management Committee (Exco) and Investment Management Committee (Investco).
- Work with Transaction Teams and CRM to ensure timely submissions to the Monitoring Committee in respect of Watch List assets and those within Risk Assurance’s Portfolio.
- Work with Risk Managers in ensuring that transactions adhere to compliance (KYC/AML) criteria and requirements.
- Ensure effective credit administration in respect of the satisfaction of all conditions precedent to drawdown (debt) or disbursement (equity), in collaboration with Legal & Corporate Secretariat, that transaction covenants are adhered to, interest rates are effectively applied, fees are collected and client obligations are honoured in a timely manner.
- Work with Market Risk Management function concerning transaction risk dashboard, portfolio risk dashboard and daily risk reports.
- Work with Environmental and Social Risk Management function to ensure effective monitoring and reporting.
- Develop and maintain a Covenants and Conditions tracking system, to record all loan conditions and covenants and to track compliance on a regular basis;
- Ensure all Environmental and Social (E&S) covenants for each transaction are adhered to, including the submission of E&S permits and regulatory documents;
- Carry out Covenants and Conditions reporting monthly;
- Report all non-compliances and breaches to covenants immediately they occur, including E&S-related incidents;
- Conduct Know-Your-Customer (KYC) counter-checks for all related parties in the pre-transaction phase;
- Carry out monthly KYC checks of all ongoing transaction parties.
- Perform other duties as directed by the CRO.
Key Performance Indicators
- Minimisation of losses caused through AFC’s exposure to credit, marketing and operational risks through effective portfolio management and use of risk mitigates.
- Minimisation of losses caused through impairment of equity investment through effective portfolio management and use of risk mitigates.
- Work to ensure that AFC’s Risk Management adheres to international best practice, as defined by rating agencies, and ensures that AFC obtains and maintains desired credit rating.
- Work to maintain integrity and independence of the risk management function.
- First degree (BA/BSc) not lower than 2nd class upper.
- MBA or MA/MSc or equivalent post-graduate degree is will be an added advantage
- At least 5 years working in financial institutions (investment bank, commercial bank or development bank).
- Fluent reading and writing ability in French language.
- Programming capabilities in VBA (other languages will also be considered) and SQL.
- Willingness to travel “out-of-station” with minimal prior notice
Requisite Competencies and Attributes:
- In depth knowledge of key elements of enterprise wide risk management framework, in respect of credit, market, operational, environmental and social risk management, processes and procedures, compliance and in support of risk assurance.
- Portfolio management skills, particular as regards asset portfolio management, monitoring and reporting.
- Knowledge and experience of working in emerging markets, particularly the African continent, and to work effectively in a challenging, multi-cultural business environment.
- Ability to work effectively in a challenging business environment.
- Computer literate with respect to Microsoft applications (Word, Excel and PowerPoint).
- Good problem solving and analytical abilities.
- Strong oral and written communications skills and good inter personal skills.
Method of Application
Interested and qualified? Go to Africa Finance Corporation (AFC) career website on www.linkedin.com to apply
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