Objectives
Under the direction of the Treasurer and Director, Treasury Department (FTRY), the incumbent will supervise the work of the Capital Markets ad Financial Operations Division (FTRY.1). The role of the Capital Markets and Financial Operations Division) is among others, to: (1) Raise cost effective resources from the capital markets. The 2015 borrowing program has been set at about USD 6 billion; (2) Contribute to the Capital Increases process and administer the subscriptions of shareholders to the capital of the African Development Bank. The AfDB has 80 member countries and an authorized capital of about USD 100 billion; (3) Contribute to the ADF replenishment negotiations and administer the subscriptions of donors to the African Development Fund and Multilateral Debt Relief Initiative. Cumulative subscriptions by donors to ADF is about USD 35 billion; and (4) prepare the Financial presentation document of the Bank.
Duties and responsibilities
The Division must target financial instruments, structures and markets that will allow the Bank to raise funds at the most attractive levels as such levels determine the competitiveness of the Bank and its ability to fulfil its development mandate. Its activities should also be handled in the context of maintaining the Bank Group’s strong financial integrity, robust risk management framework as well as its overall objectives, policies and guidelines. The candidate will also be responsible for executing asset and liability management transactions to optimise borrowing costs; contribute to the Bank’s efforts in ensuring that it maintains its ‘AAA’ credit ratings; and promote the Bank’s image among shareholders, market participants, notably rating agencies, investment banks and investors. The Division also participates in all negotiations for capital increases of the Bank and replenishment of the Fund, and implements the resolutions related thereto, including managing the subscriptions and contributions of shareholders.
The candidate will manage and supervise the personnel and activities of the Division, determine the overall objectives, oversee the execution of the work program and ensure effectiveness use of the Division’s budget. Her/his duties and responsibilities will include the following:
Manage the implementation of the borrowing program and management of liabilities
Lead and coordinate the formulation of the Bank’s funding strategy and the preparation of the Bank’s annual borrowing programs; oversee and ensure regular review and update of the Bank’s borrowing documentation;
Oversee the execution of the Bank’s annual funding program in the capital markets in line with its funding strategy, conservative asset and liability management framework, policies, guidelines and benchmarks;
Provide leadership in the analysis of capital market trends and their likely impact on the Bank’s liability and derivatives portfolios; lead and supervise the asset/liability management activities of the Division;
Build and maintain the Bank’s reputation in the capital markets by developing and maintaining frequent contact with investment banks, and investors as well as through representing the Bank at seminars, and conferences on relevant capital market topics; maintain constant flow of discussions on market developments with counterparties and inspire the staff of the Division to do the same. Manage the investors’ relations program to deepen and widen the Bank’s investor base, updating them on the Bank’s credit story. Manage relationships with investors.
Administer resources and subscriptions of the ADB, ADF and Multilateral Debt Relief Initiative (MDRI)
Lead the administrative management of subscriptions of the African Development Fund, the African Development Bank and the Multilateral Debt Relief Initiative;
Advise Management and participate in discussions on capital increases and ADF replenishments; prepare relevant technical papers;
Manage the process related to the implementation of the ADB, ADF resolutions and MDRI
Manage relationships with member countries and donors Administrative management of subscriptions and contributions.
Participate in the Bank’s credit rating review process; Participate in the review of the Bank’s financial policies; Lead the preparation of the Financial presentation of the Bank for the annual meeting; Lead the preparation of the administrative hedge of the Bank’s budget.
Selection Criteria
Including desirable skills, knowledge and experience
At least a Master’s degree in Finance, Business administration, Economics, Statistics or related quantitative discipline;
A minimum of eight (8) years of professional experience in international Capital Markets, fixed income markets;
Dynamic, achievement-focused leader and manager with an established performance record and extensive experience in global capital markets;
Excellent communication and presentation skills required in English, working knowledge of French will be an advantage;
High degree of personal commitment, interpersonal skills with proven communication, leadership, management and supervisory skills;
Ability to work effectively with individuals of different views, culture, nationality, gender and age
Strong ability to cope with multiple demands and competing priorities under pressure
Command of standard computer software applications such as Word, Excel, PowerPoint as well as Bloomberg
Knowledge of Summit/Numerix would be an advantage
Interested and suitably qualified candidates should visit AfDB’s Career Website
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