Director, FIST

THE BANK:

Established in 1964, the African Development Bank (AfDB) 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 (RMC).  The Bank’s development agenda is delivering 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 Ten-Year Strategy (2013 – 2022) and ensure greater developmental impact, five major areas (High 5s), all of which will accelerate our delivery for Africa, have been identified, namely: energy, agro-business, industrialization, integration and improving 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 President, Finance, oversees the Bank Group’s financial management. This responsibility encompasses the Bank Group’s treasury operations, including raising funds from capital markets and investment operations; control functions, including financial reporting and loan administration; strategic resource mobilisation and enhancement of non-statutory financial resources and instruments; and overall Bank Group asset/liability management.

THE HIRING DEPARTMENT

The Syndications, Co-Financing and Client Solutions Department mobilises and leverages resources in Africa and outside Africa for the financing of investment projects and programmes; promotes the investment of public and private capital in Africa in projects or programmes designed to contribute to the economic development or social progress of the Bank’s Regional Member Countries; designing innovative structured finance products and solutions for the Bank’s clients; structuring significant risk transfer instruments for balance sheet optimisation or capital management; and implementing and administering co-financing facilities, local currency financing solutions and blended financing mechanisms.

THE POSITION

The position of Director of Syndications, Co-Financing and Client Solutions Department, reporting to the Vice President, Finance, provides centralised syndications, co-financing, and financial technical services (client services) for the entire Bank Group in the public and private sectors for lending operations. The Director is also responsible for the design of innovative financing solutions and products for various initiatives, the design and implementation of capital management, and balance sheet optimisation strategies. As a member of the Senior Management Team within the Vice Presidency, Finance, the Director will also help make strategic contributions to the successful management of the Syndications, Co-Financing and Client Solutions Department and its broader relationships with the rest of the organisation.

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DUTIES AND RESPONSIBILITIES

Under the general supervision of the Vice President, the duties and responsibilities of the Director include:

1. Lead the syndication process for transactions where the Bank is appointed lead or co-lead arranger and execute A/B loan co-financing and development finance institution syndications, sharing responsibilities, as appropriate, with co-arrangers.
2. Assist in formulating the design and implementation of a syndication and co-financing strategy and associated guidelines to ensure a fully integrated function with the Bank’s operations while aligning with market best practices.
3. Provide solutions to fund-raising and resource mobilisation issues for operations and develop new mobilisation approaches/products and partners.
4. Proactively engage and provide structuring guidance to Investment Officers and Project Officers, and actively participate in the presentation of co-financing options and proposals, and mandate letters to clients, emphasising the benefits of syndication and co-financing.
5. Collaborate, among others, with the Operations (Public and Private)/Financial Control/Financial Treasury, Financial Management, Legal and other departments of the Bank to build capacity to act as an agent for all B-loans, syndications of development finance institutions and other co-financing.
6. Establish and implement a blended financing strategy to mobilise concessional financing in accordance with the MDB Working Group’s blended financing principles.
7. Establish, operationalise and implement co-financing agreements and build working relationships with the broadest range of public and commercial co-financiers.
8. Lead the development and adaptation of financial policies, strategies and programmes applicable to the department’s activities in order to catalyse the use of concessional and non-concessional financing in Bank projects.
9. Provide market intelligence and financial market analysis within the organisation with respect to pricing, practices and trends, and develop and leverage relationships with co-lenders (commercial banks, IFIs/DFIs, institutional investors). This includes working closely with and providing data to the Credit Risk Committee for review.
10. Develop internal operational processes and procedures for the department, as well as financial instruments and performance indicators to encourage, integrate, and scale up co-financing, syndication, and mobilisation activities. 
11. Provide overall guidance and leadership in the management and development of the Bank Group’s current and future financial products.  This includes innovating and staying current with the various financial products available in the multilateral landscape and maintaining leading edge skills and capacities through continuous engagement with the market.
12. Provide technical services, including derivative transactions and local currency financing solutions, for sovereign and non-sovereign transactions across project teams.
13. Manage the unit’s resources to maximise its effectiveness in supporting investment officers and project managers, marketing to investors and executing transactions.
14. Design and develop instruments to improve the Bank’s capital management and lead the efficient and effective deployment of Bank Group risk instruments.
15. Lead the design and structuring of significant risk transfer instruments and transactions to optimise the Bank’s balance sheet.
16. Establish and implement an insurance system to enhance the credit-worthiness of Bank operations at origin or for current assets.
17. Identify existing assets for possible secondary sale, identify insurance, obtain market feedback on the likely cost of the sale, and, if applicable, obtain all necessary approvals.
18. Lead the design and implementation of innovative structured finance solutions for the Bank’s flagship projects and borrowers.
19. Lead the development and implementation of key flagship initiatives which will complement and strengthen Bank Group resources.
20. Provide guidance on special initiatives (share best practices, recommend structures and processes, assist in coordination across functions) and provide consolidated reports on fund-raising and mobilisation.
21. Create and maintain sustainable partnerships with a wide range of investors, including interfacing with DFIs, institutional investors, commercial and investment banks.
22. Provide leadership in the development of the Syndications, Co-Financing and Client Solutions Department’s business and work closely with the Divisional Managers to raise the profile of the Department’s activities, both externally and internally, to a managerial level within the organisation.
23. Assume the duties of Acting Vice President of the Finance Complex, as required.
24. Perform other duties as assigned by the Vice President.

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COMPETENCIES (skills, experience, and knowledge):

1. Have at least a master’s degree in economics, finance and/or business administration or a related field.
2. Have at least ten (10) years of relevant experience in reputable financial institutions. At least five (5) years of this experience must have been acquired at the managerial level.
3. Have sound knowledge of market instruments and sources of market financing (sovereign bond financing, municipal/sub-sovereign financing, syndicated loans/infrastructure financing), other financing sources and risk management/hedging products.
4. Have good knowledge of fundraising and on-lending activities in capital market development, especially in Africa.
5. Excellent knowledge of financial issues faced by sovereign and non-sovereign clients in developing countries and policies related to the Bank’s mandate.
6. Broad knowledge of capital markets and proven knowledge of project finance and the use of risk mitigation instruments to catalyse private capital.
7. Thorough knowledge and understanding of the major risk transfer instruments including, but not limited to, insurance, on-lending, funded and unfunded risk participation, credit default swaps and synthetic securitization and their impact on balance sheets.
8. In-depth knowledge of structured finance, with the ability to provide innovative financing solutions to various stakeholders.
9. Ability to demonstrate a high level of integrity and decisiveness, including taking responsibility and holding others accountable for results.
10. Ability to set strategic direction and ensure its implementation.
11. Proven experience leading large and complex teams.
12. Be highly customer-focused, with the ability to build strong relationships and interact effectively with customers and business contacts at a management and team level.
13. Possess strong experience in investment and development banking and have worked on projects for the private sector, public entities, utilities/infrastructure authorities and governments.
14. Have strong, proven written communication and presentation skills.
15. Demonstrated experience in leading large and complex teams, and in supporting and mentoring departmental staff and developing teams.
16. Have good business acumen and decision-making skills.
17. Have good problem-solving skills
18. Ability to communicate effectively (written and oral) in English or French, with a good working knowledge of the other language.
19. Proficiency in the use of standard Microsoft Office Suite applications (Word, Excel, Access, PowerPoint); proficiency in SAP is highly desirable.

 

THIS POSITION IS CLASSIFIED INTERNATIONAL STATUS AND ATTRACTS INTERNATIONAL TERMS AND CONDITIONS OF EMPLOYMENT.