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 Ten Year Strategy (2013 – 2022) and ensure greater developmental impact, five major areas (High 5s) have been identified for scaling up, namely; energy, agro-business, industrialization, integration and improving the quality of life for the people of Africa.
The Vice Presidency for Private Sector, Infrastructure and Industrialization is central to the Bank’s mission of developing the private sector, improving infrastructure and accelerating industrialization. The complex main functions are to (i) strengthen the enabling environment for private sector [and financial sector] development conducive to inclusive growth and sustainable development, (ii) support the development of reliable and sustainable infrastructure, including cities and urban development, and (iii) place renewed emphasis on industrial and trade performance in support of structural transformation across Africa. The Complex leverages knowledge, co-financing, and partnerships to attract private capital and work with governments on delivering the Bank’s development agenda.
THE HIRING DEPARTMENT:
The primary role of the Financial Sector Development (FSD) Department is to help the Regional Member Countries (RMCs) increase the reach, depth, and breadth of their 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 markets participants; (iii) developing efficient capital markets, and (iv) deepening regional financial integration.
Paired with other Industrialization, infrastructure and Private Sector complex departments, the FSD Department is responsible for implementing the Bank Group’s Financial Sector Development Policy and Strategy 2014-2019 (FSDPS) towards vibrant, innovative, robust and competitive financial systems, both national and regional, and in both the public and private sector levels of RMCs. FSD plays a transversal role across the Bank’s five strategic priorities, applying its financial deepening and access tool kit to the High Five (H5) agenda. Fundamentally, the scalability and policy momentum inherent in the H5 agenda create an important opportunity for expanded relevance of the FSD core skill-set: flexible financing instruments and delivery frameworks for financial inclusion, smart resource mobilization and capital markets development. FSD leverages partnerships to bring about greater developmental impact in financial sector development.
The position requires a highly motivated professional with hands on experience in designing and managing financial intermediation and inclusion projects targeting financial institutions including banks, microfinance institutions, development financial institutions, mobile network operators, governments, fund Managers and auxiliary service providers in Africa based on international best practices. The job holder will provide, supervise and coordinate technical teams working on designing, implementing and monitoring the financial intermediation and inclusion 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 the impact through evidence based analysis, strengthen communications and cement foundations for new interventions and initiatives that support progress towards improvements in quality of financial intermediation support as well as near-universal access to essential financial services. He/she will report to the Director Financial Sector Department.
Under the overall supervision of the Financial Sector Director and in close collaboration with the Private Sector, Infrastructure and Industrialization (PIVP) Complex, the manager will perform the following:
Coordinate the sector expert team in providing technical and investment support for enhancing financial intermediation to priority sectors and market segments as well as mainstreaming financial access and inclusion aspects, within the five high priorities of the Bank
The Technical Oversight:
- Conduct policy dialogue with government officials; identify investment opportunities for possible Bank financing; promote Bank private sector operations and programs to government officials, business operators, development partners, etc. Monitor and analyse economic developments in regional member countries.
- Lead targeted resource mobilisation initiatives with traditional development partners and donors and well as non-traditional donors to mobilise concessional financing and grants to support the Bank’s financial intermediation and inclusion work.
- Provide advice to the Director on issues relating to Financial sector development.
- Work closely with the Regional Operation Managers and their multi-disciplinary teams in identifying and designing projects, and support the appraisal and monitoring of projects.
- Coordinate the preparation of the Division’s budget.
- Conduct policy dialogue with government officials; identify investment opportunities for possible Bank financing; promote Bank private sector operations and programs to government officials, business operators, development partners, etc.
- Monitoring and analysis of economic developments in RMCs and provide leadership and strategic guidance to the team on any changes needed to the strategic and operational orientation of financial intermediation and inclusion work.
- Lead targeted resource mobilization initiatives with the aim of mobilizing required resources (concessional, non-concessional, technical expertise and grants) to support the implementation of the Division’s initiatives.
- Harness the expertise of the financial sector specialists to analyse and provide advice to the Director and other financial sector managers on issues relating to financial intermediation and inclusion and as well as financial sector development in general.
- Work closely with the Regional Operations Manager and his/her multi-disciplinary teams in identifying and designing projects that include financial intermediation and inclusion aspects to ensure effectiveness.
- Lead and guide the division’s inputs into the development and review of relevant policies, procedures, tools, templates, etc. to improve/enhance Bank delivery of financial sector interventions.
- Coordinate and guide financial sector experts in the division in the documentation, synthesis and dissemination of emerging industry trends, best practices, lessons, and case studies in Africa and globally.
- Supporting the development of a knowledge management system that ensures the division captures all relevant information and knowledge from the Bank’s work in financial intermediation and inclusion to inform implementation, reporting, communications, and business development.
- Represent the Bank in international forums to disseminate information on lessons learned from financial intermediation and inclusion operations.
- Contribute to gathering, managing, and disseminating regional and global best practices and institutional knowledge of the advisory business across the Bank.
Resource Allocation and Administration
- Lead and coordinate the preparation of the Division’s budget and resource prioritization and allocation.
- Lead and coordinate the allocation of tasks to the financial sector experts in the division including collaborative efforts with other divisions and complexes.
- Lead the planning and monitoring, of key performance parameters for Financial institution and inclusion portfolio.
- Contribute to the setting of the division and staff KPIs as well as monitoring and appraising progress towards the attainment of the division targets.
- Plan, organize and supervise the activities and staff of the Division.
- Build and manage a team of motivated professional and support staff in providing efficient and high-quality services that support the business.
- Set realistic performance goals and incentives motivate team members to meet them, both for individual staff and for the team.
- Manage team’s staffing and resources competently and responsibly to achieve the division’s objectives.
- Be a collaborative member of the 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 relationship management and understand the business needs to assist in developing practical and effective solutions.
- Maintain a clear vision and strategy for the division that can be communicated to partners, investors, media, Bank colleagues and Bank clients.
- Championing the financial intermediation and inclusion work within the Bank and with external stakeholders including clients, regulatory authorities, and development partners
- Take primary operational responsibility, for the delivery of financial intermediation and inclusion projects.
- Develop and direct the implementation of objectives, policies, procedures, and work standards for the division. Ensure compliance with Bank policies and regulations.
- Lead complex missions involving negotiations with government officials and private investors.
- Provide advice to investors and enterprises on project structuring (selection of partners, technology, identification of markets etc.).
- Improve customer service orientation of staff of the division and ensure provision of efficient services to clients.
- Promote collaboration and facilitate teamwork across teams and across organizational units, particularly with the Regional Operations Managers in the Bank’s regional hubs.
- Maintain a high standard of professional integrity, treat individuals fairly and respectively and be sensitive to differences across culture, nationalities, and gender.
- Provide on-the-job training and advice to less experienced staff and supervise their work.
- Demonstrate deep technical knowledge of the program, 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 work.
- Communicate effectively to staff and management 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, work, and contribution to Africa’s development objectives to different audiences.
- Facilitate delivery of and synergies across various activities of the division and other departments to 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 & Knowledge)
- A minimum of a master’s in Finance, Development Economics, Business Administration or any other discipline that is relevant to the Financial Sector development.
- A minimum of 8 years’ relevant experience in Financing Corporates/SMEs involved in the Infrastructure, manufacturing, and Agriculture sectors (or Bank’s Hi5sectors) preferably within a financial institution or non-banking Financial institution. 3 years of which should be in a management position or leadership role.
- Experience in delivering on financial intermediation and inclusion including digital financial inclusion and financial sector works and operations from project origination, financial and economic analysis and financial structuring to closure and implementation.
- Demonstrated track record of successfully leading interdisciplinary and multicultural teams across different geographic locations.
- Experience in working with Multilateral development banks, commercial/investment banking, and private equity funds management.
- Experience of working in developing countries, especially Africa.
- Proven track record in the structuring of a range of Bank products, such as loans, equity, guarantee products and technical assistance.
- Operational project management: Demonstrates broad knowledge of project management tools and methodologies; identifies risks and mitigations measures; interprets background analysis and proposed solutions.
- Access to finance: Demonstrates in depth understanding of one or more of the core access to finance areas: instruments, inclusion, MSME finance, consumer protection, financial literacy, digital financial services, policy and regulatory reforms; financial intermediation challenges and opportunities at, macro, and micro levels.
- Structuring and financial modelling and analysis: An understanding of various instrument combined and ability to lead teams to structure and package (complex) interventions using a combination of instruments.
- Financial regulation: Demonstrates in-depth 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.
- Sector representation: Demonstrates 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.
- Comprehensively understands projects structures, including project design, planning, risk management strategy, issue management strategy, communication management strategy, lessons learned and handover, and other critical success factors, strategies, policies, procedures and practices of multilateral development banks.
- Negotiation Skills – Highly developed negotiation skills proven to yield positive outcomes with senior counterparts, both internal and external, and understands when and how to apply diplomacy, influence, maintain a hard line, make or break contacts, understand unwritten lines of influence and conduct oneself accordingly. hv
- Knowledgeable in the structuring and execution of debt and equity.
- Professional Expertise: Continuously expands understanding of relevant business products, practices and systems/technology.
- Highly developed strategic thinking skills allied to an ability to translate strategic concepts and direction into the implementation of workable and sustainable projects and programs.
- Ability to pull together all aspects of project origination and drive the process to deliver the lending program.
- Excellent Professional written and verbal communications in English or French with a working knowledge of the other.
- Competence in the use of standard MS office applications (Word, Excel, Access, and PowerPoint)
THIS POSITION IS CLASSIFIED INTERNATIONAL STATUS AND ATTRACTS INTERNATIONAL TERMS AND CONDITIONS OF EMPLOYMENT.