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New Jobs at African Development Bank Group (AfDB), 17th July, 2019

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African Development Bank Group (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.

We are recruiting to fill the position below:

 

Job Title: Senior Financial Compliance Officer

Position N°: 50100551
Location: Abidjan, Cote D’ivoire
Grade: PL5

Objectives

The Private Sector Credit Enhancement Facility (PSF):

  • The PSF is a captive credit risk participation facility that participates in the credit risks of the AfDB’s Non Sovereign Operations (NSOs) in countries eligible to borrow from the African Development Fund (ADF) – namely low income countries. Given its current capital base, the PSF’s target portfolio size stands at UA 1.1 billion of credit exposures.
  • Given the specific nature of the PSF as a risk participant in the Bank’s NSO, the ADF Board of Directors exercises oversight over the Facility and approves risk participations by the Facility in each NSO in compliance with the PSF Framework and Guidelines. The PSF Administrator (PSFA) is responsible for the day-to-day management of the PSF and for mobilizing additional resources to increase the Facility’s risk bearing capacity.
  • The PSF is financially and operationally autonomous with a total separation of resources from those of the ADB and the ADF. It sources certain middle and back office functions from the ADB.
  • The PSFA works closely with relevant departments to ensure these functions are performed in a timely manner and in line with applicable standards and ensure that it meets all performance and financial planning, reporting and audit requirements.

The Position

  • Under the Supervision of the PSF Administrator, the objective of the Financial Compliance Officer  is to ensure systematic and effective development and maintenance of statutory documentation, financial reporting and management  guidelines;  provision of technical leadership in the preparation of the PSF’s financial planning; preparation of the PSF’s Profit and Loss (P&L) Account information, (including the preparation of financial projections);  compliance reporting  specifically, compilation of financial statements, adoption of standards; coordination of the preparation and review of billing, income and financial statements, as well as audits and other fiduciary controls.
  • The position holder will also coordinate the preparation and ensure follow up of all agreements between the PSF, service providers and third parties; contribute to the preparation of documentation regarding the compliance of candidate transactions for PSF risk participation; contribute to quarterly and annual statutory and contractual reporting activities of the PSFA; lead the preparation and execution of procurement-related activities; identify and monitor key operational and financial management risks and proposing and implement appropriate risk mitigation measures; and contribute to a continuous improvement of the PSF’s processes and guidelines.
  • S/he will also be expected to leading internal monitoring and evaluation of the PSF’s performance against key business targets; contributing to initiatives augmenting the PSF’s risk bearing capacity; and any other activities as needed.

Duties and Responsibilities
The Financial Compliance Officer is responsible for:

Financial planning:

  • Coordinate the production of the Facility’s Profit and Loss account.
  • Lead the production and implementation of PSF operational budgets and program taking into account financial projections, business needs and strategic business objectives.
  • Contribute to business planning by producing relevant outputs such as management accounts, financial performance reports, financial projections and budget proposals.

Verification and outsourced financial services:

  • Contribute to monitoring the PSF financial data, flag emerging trends control weaknesses and risks, propose remedial action as appropriate, and follow up on recommendations.
  • Provide technical guidance on program activities, including: (i) quality of PSF financial management; (ii) on all financial management issues; (iii) quality of preparation of billing, financial reporting and audit queries; (iv) outsourced treasury investment activities.
  • Ensure compliance of PSF fiduciary functions both insourced and outsourced.
  • Undertake the analytical work in order to provide management with a background for their decision making in support of PSF financial planning , reporting and audit reviews.
  • Coordinate with officers of the finance organizational units to collect all the necessary financial management and audit information.
  • Coordinate with officers of the Financial Control Department as regards production and verification of financial statements and billing.
  • Coordinate with officers of the Treasury Department as regards PSF treasury investment and reporting.

Financial control and reporting:

  • Monitor and review quantitative and qualitative data and analyze periodic financial and operation performance ofagainst targets to proactively identify issues that should engage management attention and review consistency with policy and guidelines;
  • Coordinate the preparation of the PSF’s periodic financial reports for the ADF Board, Management and audit purposes.
  • Prepare management accounts and at a glance reports and tables of exposure indicators as well as of lending monitor program.
  • Ensure quality and timely financial management and reporting advice including by making sure PSF periodic reporting is completed using the most recent and updated financial, risk and project information available to the Bank.
  • Track key performance indicators for Private Sector Operations (PSO) in which the PSF risk participates.
  • Contribute to other PSF reporting, including on the capital relief impact of the PSF on the ADB and the incremental development results of the PSF portfolio.
  • Contribute to reporting to support the PSFA’s activities aimed at augmenting the PSF’s risk bearing capacity.

Systems improvements:

  • Coordinate periodic review of guidelines, processes and tools, and to ensure they are compliant and aligned with financial management standards.
  • Assess the continued compliance with and adequacy of operating accounting systems and related financial controls.
  • Liaise with operational, risk, financial management and legal functions to produce and update process maps and identify improvements to current processes and systems. (Including: budgeting, internal control, treasury management, accounting, financial reporting and external auditing).
  • Contribute to the preparation and review of PSF guidelines in respect of financial planning, compliance verification, financial reporting and control, performance monitoring and evaluation.

Contributing to initiatives augmenting the PSF’s risk bearing capacity:

  • Engage with external investors, donors and guarantors to ensure the financial planning and reporting requirements of their support to the PSF are systematically complied with;
  • Coordinate with the financial management and disbursement organizational units, to ensure that related guarantee and administrative fees preparation and payments (to and from third party providers) are undertaken timeously and accurately

Selection Criteria

  • At least a Master’s degree or equivalent in Master’s Degree in Finance, Financial Management, Accounting and/or Business Administration.
  • Additional qualifications like Chartered Financial Analyst (CFA), Association of Chartered Certified Accountants (ACCA) or similar is highly desirable.
  • At least five (5) years of relevant experience in audit, banking and/or financial management– with experience working with IFRS and IAS accounting standards as well as implementing updates;
  • Financial management in line with evolving international standards for the credit insurance/guarantee industry.
  • Sound understanding of the interrelationship of risks (financial, operational) and application of an integrated risk management approach in assessing the PSF’s performance and proposing remedial action
  • Experience in a similar function with credit insurance and/or guarantee providers
  • Capable toproactively propose changes and revisions the financial management related guidelines of the PSF to ensure that the PSF maintains a sound financial management framework and that it is not exposed to foreseeable risks;
  • In the constantly and fast changing business environment applicable to financial reporting standards- the financial compliance officer alerts the PSFA early enough about new standards and practices that are emerging, formulates and recommends an appropriate policy response;
  • Provide technical knowhow working through Bank departments or third party service providers to ensure that the range of financial management related activities associated with the PSF are undertaken timeously and effectively
  • Experience working in the Africa region and/or other frontier/emerging markets is highly desirable.
  • Proactively proposes changes and revisions the financial management related guidelines of the PSF to ensure that the PSF maintains a sound financial management framework and that it is not exposed to foreseeable risks;
  • Proven outstanding analytical capabilities, report writing skills and ability to deal with FM issues innovatively and independently.
  • Proven professional report writing ability.
  • Problem solving : Applies business knowledge to the resolution of problems and identifies solutions to the benefit of the client (internal and external) and the organization;
  • Communication: Provides clear and concise oral and written communication; presents oral information with clarity and appropriate style and adapts language and style to suit the requirements of a particular audience;
  • Operational effectiveness :The Commitment to ensure that full use is made of the systems, procedures and culture within the organization in order to deliver the required results;
  • Innovation & Creativity: The commitment to search for and produce innovative and creative approaches to activities in order to enhance performance and create added benefits to the Bank and its clients;
  • Teamwork & Relationships: Works with others to maximize the effectiveness of the team as a whole, sharing the knowledge and workload. Develops strong working relationships with colleagues and contributes to creation of a positive team environment;
  • Ability to communicate effectively (written and oral) in English or French with a good working knowledge of the other language.
  • Proficient in the use of standard MS Office software applications, particularly Word, PowerPoint, and Excel as well as SAP. Knowledge of SAP would be an advantage
  • Ability to communicate effectively (written and oral) in English is a requirement for this position. (Bilingual in English and French, desirable)

How to Apply
Interested and qualified candidates should:

 

Job Title: Principal Risk Management Officer

Reference: ADB/19/142
Location: Abidjan, Cote D’ivoire
Grade: PL4
Position N°: 50100552

Objectives
The Private Sector Credit Enhancement Facility (PSF):

  • The PSF is a captive credit risk participation facility that participates in the credit risks of the AfDB’s Non Sovereign Operations (NSOs) in countries eligible to borrow from the African Development Fund (ADF) – namely low income countries. Given its current capital base, the PSF’s target portfolio size stands at UA 1.1 billion of credit exposures.
  • Given the specific nature of the PSF as a risk participant in the Bank’s NSO, the ADF Board of Directors exercises oversight over the Facility and approves risk participations by the Facility in each NSO in compliance with the PSF Framework and Guidelines.
  • The PSF Administrator (PSFA) is responsible for the day-to-day management of the PSF and for mobilizing additional resources to increase the Facility’s risk bearing capacity.
  • The PSF is financially and operationally autonomous with a total separation of resources from those of the ADB and the ADF. It sources certain middle and back office functions from the ADB.
  • The PSFA works closely with relevant departments to ensure these functions are performed in a timely manner and in line with applicable standards and ensure that it meets all performance and financial planning, reporting and audit requirements.
  • The PSF requires in-house risk management capacity to ensure it maintains adequate second line management functions distinct from those of the Bank.

The Position

  • Under the Supervision of the PSF Administrator, the objective of Risk Management Officer (RMO) is to ensure all round risk management in the Facility’s management- with emphasis on the PSF’s core-business of credit risk taking, treasury management and asset and liability management functions.
  • The RMO ensures the integrity of financial risk models and the reasonableness of assumptions used in each risk participation, analyses the portfolio on the evolution of the risk profile and the PSF’s risk bearing capacity and ensures that the Facility’s capital adequacy, risk profile, treasury risk, as well as Asset and Liability Management functions are performed on time and effectively.
  • The jobholder ensures compliance with the PSF risk management requirements, optimizes the sizing of individual risk participations recommended with regard to various portfolio quality and performance parameters, and formulates, review and update policies, guidelines and procedures relating to the PSF’s risk management and capital adequacy.
  • The job entails a high-level professional knowledge and understanding of financial risk (credit and asset and liability management) related to non-sovereign operations.

Duties and Responsibilities
The key duties and responsibilities of Risk Management Officer are to:

  • Process and analyze data and perform other related duties in support of credit risk measurement, assessment, monitoring and management for the Private Sector Facility.
  • Monitor credit risks of the PSF portfolio analyzing the evolution of the risk profile and country, sector and obligor concentrations, the adequacy of provisions and risk capital required to support the non-sovereign credit exposure.
  • Prepare at a glance reports and tables of exposure indicators;
  • Maintain and update the PSF’s stand-alone models.
  • Monitor and review PSF treasury and liquidity position, for committed and uncommitted capital.
  • Prepare financial projections for PSF.
  • Undertake data processing and computational work required in support of quarterly and annual PSF risk reviews.
  • Coordinate with the Risk organizational units to collect all the necessary risk information.
  • Coordinate with the Treasury Department as regards management of the PSF treasury.
  • Coordinate with the Financial Control Department as regards production of financial statements and billing.
  • Coordinate the preparation of relevant ALM and risk reports and decision-making documents.
  • Contribute to the preparation and review of PSF guidelines in respect of risk, treasury management, and Asset and Liability Management aspects.
  • Take a leadership role in the preparation of the rating of the Facility.
  • Contribute to fundraising activities.
  • Participate in the production of PSF reports on as needed basis

Selection Criteria

  • At least a Master’s degree or equivalent in Risk Management, International Banking or Actuarial Science.
  • Additional qualifications like Chartered Financial Analyst, Certified Risk Management  (or other relevant risk management and financial analyst qualifications), desirable
  • At least six (6) years of relevant experience related to non-sovereign credit risk assessment and portfolio management;
  • Hands-on experience of Non-Sovereign risk assessment in emerging and frontier markets;
  • Outstanding ability and experience in financial modelling and quantitative analysis is required in order to solve statistical analysis issues of portfolio and treasury;
  • Quantitative modelling skills to assess the balance sheet impact of transactions
  • Strong knowledge of rating agencies’ models as well as capital adequacy requirements;
  • Excellent communication skills, integrity, professional maturity and business judgment.
  • Knowledge of Asset and Liability Management techniques and standards.
  • Knowledge of capital adequacy standards is required as well as strong quantitative and analytical skills;
  • Plans for unanticipated risks and future issues by developing contingencies and programs to address issues that may impact achievement of quality results;
  • Good knowledge of credit risk management techniques and risk mitigation products;
  • Capable to proactively propose changes and revisions to the credit risk management policies and other risk management guidelines to ensure that the PSF maintains a sound risk control and management framework. He/she provides technical leadership in ensuring that portfolio construction and management is compliant with key risk metrics and prudential parameters, and coordinates effectively with treasury as well as risk departments to ensure the PSF’s treasury management and ALM functions are appropriately performed;
  • Provide well rounded risk management technical knowhow for the range of financial and credit risk management tasks and functions insourced within the PSF, and outsourced to Bank department and/or external agent
  • High level professional knowledge of qualitative and quantitative credit portfolio management techniques and structured credit instruments;
  • Experience with banking and credit insurance in the Africa region or other emerging/frontier markets;
  • Proven professional report writing ability.
  • A proven track record of holding positions which required responsibility for risk-related decision making; desirable
  • Experience in risk management function in a Development Finance Institution that uses risk participation or credit guarantee instruments and/or credit insurance function will be an added advantage; desirable
  • Comprehensive knowledge in overall risk management in financial institutions with exposures to the different facets of risks; desirable
  • Ability to communicate effectively (written and oral) in English or French with a good working knowledge of the other language.
  • Proficient in the use of standard MS Office software applications, particularly Word, PowerPoint, and Excel as well as SAP. Knowledge of SAP would be an advantage
  • Ability to communicate effectively (written and oral) in English is a requirement for this position. (Bilingual in English and French, desirable)

How to Apply
Interested and qualified candidates should:
Click here to apply online

 

Job Title: Chief Program Officer

Reference: ADB/19/141
Location: Abidjan, Cote D’ivoire
Grade: PL3
Position N°: 50100550

Objectives
The Private Sector Credit Enhancement Facility (PSF):

  • The PSF is a captive credit risk participation facility that participates in the credit risks of the AfDB’s Non Sovereign Operations (NSOs) in countries eligible to borrow from the African Development Fund (ADF) – namely low income countries. Given its current capital base, the PSF’s target portfolio size stands at UA 1.1 billion of credit exposures.
  • Given the specific nature of the PSF as a risk participant in the Bank’s NSO, the ADF Board of Directors exercises oversight over the Facility and approves risk participations by the Facility in each NSO in compliance with the PSF Framework and Guidelines.
  • The PSF Administrator (PSFA) is responsible for the day-to-day management of the PSF and for mobilizing additional resources to increase the Facility’s risk bearing capacity.
  • The PSF is financially and operationally autonomous with a total separation of resources from those of the ADB and the ADF. It sources certain middle and back office functions from the ADB. The PSFA works closely with relevant departments to ensure these functions are performed in a timely manner and in line with applicable standards and ensure that it meets all performance and financial planning, reporting and audit requirements.

The Position
Under the Supervision of the PSF Administrator, the Program Officer (PO) will be responsible for four broad sets of tasks, as follows:

  • Pipeline development and portfolio management,
  • Operational program implementation;
  • Reporting, monitoring and evaluation and
  • Fundraising and stakeholder engagement.
  • He/she supports the PSF administrative and operational management performs Risk Participation Agreement implementation, in compliance with Guidelines, Policies and Strategies.
  • In performing this role, the PO is expected to maintain a strategic institutional perspective focused on results and performance.

Duties and Responsibilities
The Program Officer will be responsible for:

Pipeline development and portfolio management:

  • Plan and coordinate the annual work programs  to operationalize the Facility’s strategy and business plan;
  • Coordinate and proactively engage in business development to maintain a pipeline/portfolio management system to track project implementation progress and performance;
  • Drive portfolio management and early warning systems, particularly in areas of performance reporting and analysis;
  • Follow up disbursement procedures and coordination with relevant financial management and portfolio teams vis-à-vis transactions for which guarantees have been triggered.

Strategic program management:

  • Provide technical guidance and prepared Documentation on PSF risk participation recommendations
  • Develop guidelines, templates and user manuals for internal and external audiences;
  • Design appropriate approaches and tools to appraise
  • Draft documentation recommending specific transactions for inclusion in the PSF portfolio:

Reporting, monitoring and evaluation:

  • Develop and implement a Monitoring and Evaluation system and promote joint performance indicators and ensure its operationalization;
  • Lead in the preparation of PSF’s annual report, quarterly updates and monthly briefs;
  • Lead on development of annual work plans, closely monitoring implementation;
  • Carry-out research and prepare briefs as required by PSFA.

Fundraising and stakeholder engagement:

  • Contribute to the mobilization of financial resources for the Private Sector Facility
  • Serve as the main contact for internal communications and reporting on the Private Sector Facility with outside parties, including to donors and other stakeholders, and ensure timely responses to solicitations from internal and external stakeholders;
  • Develop and implement a communication strategy for the Private Sector Facility;
  • Coordinate PSF public relations workflow and web-presence (AfDB website, external website, external donor data platform, etc.);
  • Communicate and represent the PSF effectively to various audiences, including key stakeholders, clients, beneficiaries, public, internal and external partners under the supervision of the PSFA;
  • Participate in fundraising outreach activities;
  • Liaise and coordinate with internal and external partners.

Other:

  • Lead the organization of thematic forums and workshops related to Private Sector Facility;

Selection Criteria

  • At least a Master’s degree or equivalent in Management, Finance or Related field.
  • Additional qualifications like Chartered Financial Analyst, Chartered Alternative Investment Analyst (CAIA); desirable
  • Experience in program management is desirable
  • At least seven (7) years of experience in program planning, implementation management support and reporting;
  • At least 4 years private sector / non-sovereign portfolio management is mandatory, specifically non-recourse project and corporate finance transactions, and/or guarantee and risk participation instruments;
  • Prior experience in the infrastructure, industrial, agribusiness, financial sector and business development is necessary
  • Capacity to diagnose each transaction and resolve multiple concurrent problems; and a conceptual and strategic analytical capacity to understand competing requirements of operations and their contribution to results and ultimately impact on each guarantee.
  • Demonstrated ability to advise the PSFA in planning, programming, procuring and budgeting within strategic directions and with attention to the resource constraints.
  • Ability to work with staff across all Complexes, Donors and external stakeholders. Consequently, and manage multiple tasks with varying levels of information and accountability.
  • Credit insurance and guarantees: strong grasp of credit insurance and guarantee instruments concepts and business models, and hands-on experience implementing them.
  • Fund management and administration: strong grasp of fund management and administration concepts and processes and hands-on experience implementing them.
  • Understanding of ADB NSO ecosystem: understands strategic and operational aspects of ADB NSO activities, including systems and processes for origination, approval, financial close and supervision.
  • Private Sector Development Operations in Africa: has deep understanding of the realities of financing and implementing private sector projects in the African context across sectors, including agribusiness, energy, financial and infrastructure.
  • Plans for unanticipated risks and future issues by developing contingencies and programs to address issues that may impact achievement of quality results;
  • Consistently makes informed decisions and provide advice, to independently solve programs, based on available and hard to find information;
  • Proven professional report writing ability;
  • Excellent communication skills, integrity, professional maturity and business judgment.
  • Good knowledge of operational and project management techniques and administrative requirement of organizations; desirable
  • Business plan preparation and implementation monitoring; desirable
  • Experience of working with development finance institutions, preferably with some exposure to African low income markets and/or high risk jurisdiction; desirable
  • High level professional knowledge of operational and strategic portfolio management techniques and structured credit instruments and loan guarantees; desirabl
  • Proficient in the use of standard MS Office software applications, particularly Word, PowerPoint, and Excel as well as SAP. Knowledge of SAP would be an advantage
  • Ability to communicate effectively (written and oral) in English is a requirement for this position. (Bilingual in English and French, highly desirable)

Deadline: 16th August, 2019.

How to Apply
Interested and qualified candidates should:
Click here to apply online

Note

  • Applicants who fully meet the Bank’s requirements and are considered for interview will be contacted.
  • Only online applications submitted with a comprehensive Curriculum Vitae (CV) and copies of the required degrees will be considered.
  • The President, AfDB, reserves the right to appoint a candidate at a lower level.
  • The African Development Bank is an equal opportunities employer. Female candidates are strongly encouraged to apply.
  • The African Development Bank Group (AfDB) does not ask for payments of any kind from applicants throughout the recruitment process (job application, CV review, interview meeting, and final processing of applications). In addition, the Bank does not request information on applicants’ bank accounts.
  • The African Development Bank Group declines all responsibility for the fraudulent publications of job offers in its name or, in general, for the fraudulent use of its name in any way whatsoever.

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