Division Manager – Syndications and Co-Financing (FIST1)

THE BANK:

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 (2023 – 2032) 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 Presidency for Finance oversees the financial management of the Bank Group. This encompasses the Bank Group’s treasury activities including borrowings from the capital markets and investment activities; controllership functions including financial reporting and loan administration; strategic resource mobilization and the strengthening of the non-statutory financial resources and instruments; the overall asset/liability management for the Bank Group.

THE HIRING DEPARTMENT/DIVISION:

The Syndication, Co-Financing and Client Solutions Department mobilizes and leverages resources in Africa and outside Africa for the financing of investment projects and programs; promotes the investment of public and private capital in Africa in projects or programs 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 optimization or capital management; and implementing and administering co-financing facilities, local currency financing solutions and blended financing mechanisms.

THE POSITION:

The position of Division manager of Syndication and Co-Financing reports to the Director of Syndication, Co-Financing and Client Solutions Department and has the overall responsibility to:

1. Provide centralized syndication and co-financing for the entire Bank Group in the public and private sectors for lending operations
2. Establish the African Development Bank as the leading arranger of syndication and co-financing in Africa;
3. Supervise the effective implementation of various in house co-financing facilities and design and negotiate new co-financing agreements;
4. Mobilize funding from all external investors – commercial banks, Development Finance Institutions, Export Credit Agencies, Pension Funds, etc. – to leverage the development impact and the effective deployment of the Banks’s risk capital;
5. Mobilize resources from the many development partners and other related agencies with whom the African Development Bank has ongoing syndication or co-financing relationships or with whom  Memorandums of Understanding have been signed;
6. Institutionalize blended finance in the Bank while working with the resource mobilization department to attract concessional and grant resources to support the Bank’s blended finance action plan;
7. Integrate syndication and co-financing into operations, so that the mobilization of external funding becomes the standard business model;
8. Support investment officers and task managers in identifying co-financing opportunities and promoting the unit’s products to borrowers / sponsors;
9. Assist with the structuring and pricing of proposals by feeding back market intelligence;
10. Enable the Bank to manage its existing portfolio of assets through secondary sales/securitizations and any other balance sheet optimization mechanism.

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DUTIES AND RESPONSIBILITIES

Under the general supervision of the Director, the duties and responsibilities of the Division Manager 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 mobilization issues for operations and develop new mobilization 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, emphasizing the benefits of syndication and co-financing.
5. Collaborate, among others, with the operations teams (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 mobilize concessional financing in accordance with the MDB Working Group’s blended financing principles.
7. Establish, operationalize 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 programs applicable to the department’s activities in order to catalyze the use of concessional and non-concessional financing in Bank projects.
9. Provide market intelligence and financial market analysis within the organization 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. Establish and implement an insurance system to enhance the credit-worthiness of Bank operations at origination.
11. 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 mobilization activities.
12. 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.
13. Create and maintain sustainable partnerships with a wide range of investors, including interfacing with DFIs, institutional investors, commercial and investment banks.
14. Provide leadership in the development of the Syndication and Co-Financing division business and work closely with the Director and the other Manager to raise the profile of the Department’s activities, both externally and internally.
15. Assume the duties of Acting Director, as required.
16. Perform other duties as assigned by the Director.

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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 eight (8) years of relevant experience in reputable financial institutions. At least five (5) years of this experience must have been acquired at the managerial level. A track record of direct responsibility for at least 5 successfully executed syndication/co-financing deals is required
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 catalyze private capital.
7. Thorough knowledge and understanding of the major risk transfer instruments including, but not limited to, insurance, asset sell down, funded and unfunded risk participation, 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. 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.
12. Possess strong experience in investment and development banking and have worked on projects for the private sector, public entities, utilities/infrastructure authorities and governments.
13. Have strong, proven written communication and presentation skills.
14. Proven experience in leading large and complex teams, supporting and coaching department staff, and building teams.
15. Have good business acumen and decision-making skills.
16. Have good problem-solving skills
17. Ability to communicate effectively (written and oral) in English or French, with a good working knowledge of the other language.
18. 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.