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 81 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. In order to sharply focus the objectives of the Bank’s Ten-Year Strategy or its successor, and ensure greater developmental impact, five major areas (High 5s), all of which will accelerate our delivery for Africa, have been identified for scaling up, namely, Light up and Power Africa, Feed Africa, Industrialize Africa, Integrate Africa and Improve the Quality of Life for the People of Africa. The Bank is seeking to build a management team that will lead the successful implementation of this vision.
THE COMPLEX:
The Vice Presidency for ‘Private Sector Infrastructure and Industrialization’ is a Sector Complex focusing on the Bank’s TYS H5s priority of “Industrialize Africa”. The objectives of the Complex are to: (i) drive the implementation of the ‘Industrialize Africa Strategy’; (ii) provide deep sector expertise to the Regions by leveraging on experienced individuals who can be consulted on complex transactions; (iii) develop new financing instruments; (iv) act as the Bank’s Spoke person on “Industrialize Africa”. The Complex’s main functions are to: strengthen the enabling environment for private sector development, which is conducive to inclusive growth and sustainable development; support the development of reliable and sustainable infrastructure, including urban development; place renewed emphasis on industrial and trade development in order to boost structural transformation across Africa; and drive the Bank’s financial sector development by formulating tools and instruments to facilitate access to finance, including for small- and medium-sized enterprises, while also working closely with regional financial institutions.
THE HIRING DEPARTMENT/DIVISION:
As part of the Private Sector, Infrastructure and Industrialization Complex, the primary role of the Financial Sector Development Department (PIFD) is to help the Regional Member Countries (RMCs) increase reach (i.e. financial inclusion), depth (i.e. financial intermediation), and breadth (i.e. capital markets, regional integration) of African financial systems, while safeguarding financial stability. The Department has four long-term objectives: (i) development of a vibrant private sector through an inclusive access by households and enterprises to financial services; (ii) strengthening financial market participants; (iii) developing efficient capital markets, and (iv) deepening regional financial integration.
THE POSITION:
The Director is responsible for providing leadership in Financial Sector Development. He/she will lead, supervise and coordinate the Management team working on the design, implementation and monitoring of financial sector development projects and initiatives in Regional Member Countries (RMCs). He/She will provide leadership to their team to improve delivery, increase synergies, sharpen skills, share knowledge and lessons, improve development impact through evidence-based analysis, strengthen communications and cement foundations for new interventions and initiatives that support progress towards near-universal access to quality essential financial services for the underserved, broadening and deepening Africa’s financial systems and building resilience of the financial sector. He/She will work to (i) strengthen the links between the Bank’s financial sector operations and the High 5s and other corporate priorities (Climate change, Gender, SMEs, Fragility, etc.), (ii) position AfDB as a key player in financial sector development on the continent through increased engagement in upstream policy and regulatory dialogue to address some of the longer-term systemic issues which inhibit access to finance in RMCs, and (iii) leverage the Bank’s downstream transactional capabilities to provide innovative solutions to support the real sector through financial intermediaries and help deepen domestic capital markets.
KEY FUNCTIONS
Under the supervision of the Vice President, Private Sector, Infrastructure and Industrialization, the Director, PIFD will:
- Champion and provide strategic leadership and oversight to the Department in the delivery of the Bank’s Ten-Year Strategy and the High 5 operational priorities, through the Financial Sector Development Strategy and Action Plan;
- Support financial systems in RMCs to play a central role in the intermediation of finance for private-sector-led development, thereby contributing to resilient and inclusive economic growth to drive structural economic transformation;
- Coordinate the Departmental Management Team in providing technical and investment support for enhancing financial intermediation to priority sectors and market segments and mainstreaming financial inclusion, within the five high priorities of the Bank.
The Technical Oversight:
- Plan, organize and supervise the activities of the management team and Front Office;
- Lead policy dialogue with government officials; identify investment opportunities for possible Bank financing; promote Bank financial sector operations and programs to government officials, business operators, development partners, etc. Monitor and analyse economic developments, with an emphasis on the financial sector in regional member countries;
- Lead targeted resource mobilisation initiatives with traditional development partners and donors as well as non-traditional donors to mobilise concessional financing and grants to support financial sector initiatives and programmes;
- Coordinate the preparation of the department budget;
- Monitor and analyse economic developments in RMCs and provide leadership and strategic guidance to the team on any changes needed to the strategic and operational orientations of the financial sector department’s work programme;
- Develop, maintain and revise the Financial Sector Development Strategy and Action Plan of the Bank in consultation with internal and external stakeholders (including RMCs and nonRMCs) and taking account of medium to long-term trends in financial sector development, both globally and on the continent;
- Harness the expertise of Division Managers and professional staff to analyse and provide advice to the Bank’s Senior Leadership team and other stakeholders on financial sector development issues;
- Lead and guide the department’s inputs into the development and review of relevant policies, procedures, tools, templates, etc. to improve/enhance Bank delivery of financial sector interventions; Lead the team to develop strategic relationships with key clients through effective client relationship management approaches.
Knowledge Management
- Lead and guide financial sector experts in the department in the documentation, synthesis and dissemination of emerging financial sector trends, best practices, lessons, and case studies in Africa and globally.
- Represent the Bank in international forums to disseminate information on lessons learned from financial sector development operations, strategies and approaches;
- Contribute to gathering, managing, and disseminating regional and global best practices and institutional knowledge on financial sector development across the Bank.
Resource Allocation and Administration
- Lead and coordinate the preparation of the department’s budget and resource prioritization and allocation;
- Lead and coordinate the allocation of tasks to the relevant division including collaborative efforts with other departments, divisions and complexes;
- Lead the planning and monitoring, of key performance parameters for the Bank’s financial sector portfolio and operations;
- Set divisional and staff KPIs and monitor progress towards the attainment of the department targets.
People Management:
- Plan, organize and supervise the activities of the Departmental Management team and front office staff;
- Build and manage a team of motivated professional and support staff in providing efficient and high-quality services to support departmental and Bank wide objectives;
- Set realistic performance goals and incentives and motivate team members to meet them, both individually and for the team as a whole;
- Manage team’s staffing and resources competently and responsibly to achieve the division’s objectives;
- Be a collaborative member of the PIVP Complex Senior Management Team, contribute and share expertise and input and foster a collegial environment;
- Leading People: Serve as a role model, leading by example, build alignment and commitment. Is courageous in challenging others to move the Bank forward;
- Build strong client relationships especially at the c-suite level and understand the business needs to assist in developing practical and effective solutions.
Leadership:
- Maintain a clear vision and strategy for the department that can be communicated to partners, investors, media, Bank colleagues and Bank clients;
- Champion financial sector development within the Bank and with external stakeholders including clients, regulatory authorities, and development partners;
- Take primary operational responsibility for the delivery of financial sector operations;
- Develop and direct the implementation of objectives, policies, procedures, and work standards for the department. Ensure compliance with Bank policies and regulations;
- Provide advice to investors and financial intermediaries on project structuring (selection of partners, technology, identification of markets etc.).
Staff engagement:
- Promote collaboration and facilitate teamwork across teams and across organizational units, particularly with the Regional Operations Managers in the Bank’s regional hubs, credit risk, integrity diligence and Safeguards;
- Maintain a high standard of professional integrity, treat individuals fairly and respectfully and be sensitive to differences across culture, nationalities, and gender;
- Provide on-the-job training and advice to less experienced staff in the front office and supervise their work;
- Demonstrate deep technical knowledge, act as a technical resource for team members and lead and/or create opportunities for professional training and growth in technical areas that bring additional value to the financial sector operations;
- Build, drive and guide the team to originate financially sustainable and high development impact business with the most impactful financial institutions in Africa;
- Demonstrate drive, presence with clients at the c-suite level, and initiative on innovations to motivate and guide the teams.
Corporate Communication:
- Communicate effectively to staff and management team how the related strategy, policy, and processes support the needs of the business and enable a productive, positive and engaging work environment for staff.
- Develop and coordinate the Bank’s relationships with other institutions involved in financial sector development.
- Effectively represent the Bank in key events and effectively communicate the Bank strategy, operations, and contribution to Africa’s development objectives to different audiences.
- Facilitate identification and leveraging of synergies across various activities of the department and the Bank generally to maximize impact.
- Enhance regular interaction and communication and encourage sharing of information and knowledge.
- Maintain ongoing and effective engagement with key internal and external stakeholders.
COMPETENCIES (skills, experience and knowledge):
- At least a Master’s degree in Finance, Banking, Economics/Development Economics, Business Administration, or other discipline that is relevant to the operations of the Department.
- Have a minimum of ten (10) years of extensive and progressive experience in developing and financing financial sector operations including risk management.
- Extensive experience in building client relationships through proactive management and engagement
- Extensive expertise and knowledge of Multilateral development and commercial banking, financial, intermediation and inclusion issues, demonstrated ability to engage on a broad range of development and policy issues.
- A deep knowledge and familiarity with the African financial sector particularly banking systems, risk management framework and best practices in implementing inclusive financial policies, including capital markets and digital finance, would be highly appreciated
- Experience in delivering on financial sector operations (financial intermediations, capital markets and trade finance) from project origination, financial and economic analysis and financial structuring to closure and implementation.
- Experience in designing and managing capital markets development and trade finance projects targeting Governments, financial institutions including banks, non-bank financial institutions, development financial institutions, mobile network operators, governments, specialized funds and auxiliary service providers in Africa based on international best practices.
- Experience of working in developing countries, especially in Africa.
- Proven track record in the structuring of a range of Bank products, such as loans, equity, guarantee products and technical assistance.
- 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.
- Broad knowledge of project management tools and methodologies; identifies risks and mitigations measures; interprets background analysis and proposed solutions.
- A deep knowledge of public policy, regulation, supervision and enforcement related to financial system stability, integrity and development; delivers strategic advice and technical assistance to policy makers.
- Ability to coordinate, participate in, and act as a catalyst for, strategic cross-sector dialogues within the networks, across the country, among Bank colleagues and other development institutions, governments, and other organizations.
- Knowledge and experience of integrating key development factors such as ESG, climate change, and additionality into projects and initiatives
- Good Coaching, mentoring and conflict resolution skills
- Communicate and write effectively in French or English, with a good working knowledge of the other language
- Competence in the use of standard Microsoft Office Suite applications and preferably, SAP.
THIS POSITION IS CLASSIFIED INTERNATIONAL STATUS AND ATTRACTS INTERNATIONAL TERMS AND CONDITIONS OF EMPLOYMENT.