African Development Bank (AfDB) - 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 80 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.
We are recruiting to fill the position below:
Job Title: Principal Treasury Risk Officer
Position N°: 50000936
The Hiring Department/Division
- 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 overall objective of the Financial Management Department (FIFM) is to safeguard and improve the Bank Group’s risk bearing capacity while looking to optimize efficiency to benefit clients, shareholders and staff.
The role of the Treasury Risk Management Division (FIFM2) is the management of treasury risk and the oversight of treasury activities that enable the Bank to make informed treasury investment and borrowing decisions with adequate and manageable hedging mechanisms. The Division’s objectives are:
- To identify, measure, monitor and mitigate market and credit risks in the Bank’s Treasury operations;
- To ensure the timely reporting of the Treasury Department activities;
- To build an efficient control framework to ensure the adherence to the Bank’s policies, Assets and Liabilities Management (ALM) guidelines and to International Financial Reporting Standards (IFRS);
- To provide efficient information systems and analytical support tools to the Treasury Department to improve the decision-making process.
The Principal Treasury Risk Officer has responsibly to:
Duties and Responsibilities
- Manage market and counterparty credit risks in Treasury Operations including producing regular risk reports, partnering with Group Chief Risk Officer (PGRF) department to produce various analysis, reviewing Asset and Liability Committee (ALCO) decision making support reports, advising on new treasury transactions and supporting more junior staffs in treasury reporting, transactions processing and risk control activities.
- Coordinate proposals for reforms on policies, guidelines and procedures while planning, designing, and implementing an efficient risk management and control process for the division including liaison with Treasury Risk Information Technology Specialists.
- Provide specialist advice, input and support on Treasury Risk management considerations related to a broad range of treasury business initiatives, Finance complex or ALCO matters arising.
Under the supervision of the Division Manager - Treasury Risk Management the Principal Treasury Risk Officer will perform the following:
Manage market and counterparty credit risks of the Treasury Operations:
- Monitor the market and credit exposure of treasury investment and liability portfolios and produce ad-hoc reports in case of changes in market conditions or counterparty credit quality that may affect treasury operations;
- Monitor and advise on limits for credit risk exposure concentration by credit rating categories and types of counterparties;
- Review the terms of new funding proposals received by counterparties. Ensure that the Bank has the internal capacity to fair value new borrowing transactions;
- Advise on the financial terms of local currency and rate fixing loan swaps proposals;
- Review credit support annexes of International Swaps and Derivatives Association (ISDA) agreements and the terms of risk mitigation techniques related to exposure netting with counterparties and collateral posting;
- Produce quarterly financial risks analysis for Asset and Liability Committee (ALCO), Financial Control Department and Treasury Risk Division Management. That includes but is not limited to:
- International Financial Reporting Standards (IFRS) Investments Level classification including liquidity and variance analysis;
- Impairment tests on Treasury Investments Held at Amortized Cost to monitor needs for provisions in case of substantial changes in issuers credit quality;
- Cross exposures to both lending and treasury obligors to monitor wrong way risks for the Bank.
- Deliver key risk management inputs to the Group Chief Risk Officer Departments. That includes but is not limited to perform recurrent analysis and compute advanced risk indicators for:
- The quarterly Bank Capital Adequacy related to Treasury Operations;
- The annual Market Risk Review for the Board;
- The annual Rating Review Presentation to the rating agencies;
- The Risk Dashboard for the Management and the Board.
- Perform other ad-hoc analysis and risk reports on treasury related market and credit risk measures.
Supervise treasury reporting and risk control activities:
- Review monthly reports on treasury investment management, liability management, counterparty exposures and compliance for Asset and Liability Management Committee (ALCO) and perform related verifications on the integrity of market and credit data input;
- Provide third level support and guidance on treasury portfolios valuations, daily and weekly reporting issues as well as on transactions risk control and processing problems;
- Control the quality of inputs to treasury compliance reports for distribution to the Board;
- Monitor approved lists of International Swaps and Derivatives Association (ISDA) and International Securities Market Association (ISMA) agreements, depository banks, brokers and futures counterparties;
Coordinate proposals for reforms on guidelines and procedures:
- Elaborate and formulate policy proposals for amendments of Asset and Liability Management guidelines when necessary;
- Coordinate the implementation of internal and external audit recommendations;
- Review and collect inputs on treasury risk management operational procedures, propose new controls and optimized processes to reduce operational risk and to ensure compliance to standards;
- Organize the update of procedures manuals.
Lead the implementation of risk measurement framework improvement:
- Design systems and procedures for the improvement of treasury risk analytics and measurement framework;
- Team up with Treasury Risk Information Technology Officers to develop new reports, dashboards and controls as well as decision support tools that improve the efficiency of treasury activities and related market and counterparty credit risk management activities. That includes to produce or oversee the specifications for functionalities that need to be built, to perform or organize the functional tests and to train staffs after implementation;
- Monitor evolving treasury systems data requirement, participate as a business/functional expert to the migrations to new versions;
- Keep abreast of evolutions on International Financial Reporting Standards (IFRS) and conduct the implementation of necessary developments to ensure compliance to standards;
- Keep abreast of new methodologies on market and counterparty credit risks best practices, and conduct the implementation of needed measures and required evolutions;
- Produce presentations on new or updated risk measurement methodologies to treasury risk and treasury officers, and sometimes to peers in other MDBs OR ALCO.
Serve as a focal point for Treasury Risk expertise:
- Advise and support on treasury market and counterparty credit risk issues to build risk awareness within the finance complex;
- Provide treasury risk inputs to documents prepared by other departments of the complex;
- Lead Treasury Risk views in Asset and Liability Working Groups related to Interest Rate Risk, Projections, Financial Products and/or Currency Risk Management;
- Represent Treasury Risk Management Division in cross-departmental ad-hoc task forces for various studies;
- Establish contacts with major MDBs in treasury risk area to benchmark practices and/or to prepare or contribute to papers for presentation at internal working groups, committees, or external international risk forums.
Including desirable skills, knowledge and experience:
Application Closing Date
- Hold at least a Master’s degree in Business Administration, Finance, Banking, Economics or related discipline.
- Have a minimum of Six (06) years of relevant experience in International Financial Institutions or Investment Banks, with a large scope of treasury or fixed income activities.
- Professional certification in Risk and/or Finance like Financial Risk Manager (FRM), Professional Risk Manager (PRM), Chartered Financial Analyst (CFA), Certificate in Quantitative Finance (CQF) is considered as an asset.
- Working experience in Fixed Income and Derivatives front-office, middle-office or risk management departments.
- Working experience in the implementation of Treasury credit monitoring and portfolio management systems used by Investment Banks and Multilateral Development Banks.
- Finance and risk management technical acumen with effective consulting and advisory skills
- Analytical and numerical skills with a good eye for detail
- Ability to cope under pressure with strong planning and organization skills
- Arbitration skills and ability to influence people
- Demonstrated knowledge and experience of financial and/or risk reporting
- Good communication and presentation skills with ability to adjust technical language in an appropriate way for different audiences
- Demonstrated knowledge and experience in driving market and credit risks complex projects
- Experience in using financial applications like Summit, Bloomberg, Reuters, Numerix or MSCI Credit Manager
- Knowledge of light programming or database languages like Excel VBA, SQL or C++
- Ability to communicate effectively (written and oral) in English or French preferably with a working knowledge of the other.
- Competence in the use of standard MS office applications (Word, Excel, Access, and PowerPoint) and SAP.
22nd January, 2018.
How to Apply
Interested and qualified candidates should:
Click here to apply online