African Development Bank Group (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.
In order to sharply focus the objectives of the Ten Year Strategy (2013 – 2022) and ensure greater developmental impact, five major areas (High 5), all of which will accelerate our delivery for Africa, have been identified for scaling up, 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.
We are recruiting to fill the position below:
Job Title: Senior Financial Analyst
Position N°: 50000928
The Hiring Department/Division
- The Vice Presidency for Finance (FIVP) 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 Syndication and Financial Technical Services Department (the “Department”) is responsible for the design and introduction of new financial products as well as the provision of structured finance solutions to the Bank’s clients
- Additionally, the Department is responsible for the syndication and co-financing of all the Bank’s transactions including but not limited to balance sheet management through secondary market sales and securitization of the Bank’s asset portfolio.
- The Financial Technical Services Division (the “Division”) has primary responsibility for the innovation, development and marketing / dissemination of the Bank Group’s financial products as well as its local currency funding operations
- The Division also provides financial technical expertise and advisory services on project teams supporting task managers in originating, structuring, appraising, negotiating, restructuring, secondary sales and closing of transactions
- The Division has the additional responsibility for the lending rate management of the Bank and in assisting Bank’s clients to manage market related risk through derivative based hedging solutions.
Reporting to the Division Manager, the Senior Financial Analyst will be a part of a team of finance specialists providing financial solutions and specific finance expertise in support of investments across all sectors and regional member countries of the Bank. He/She will develop, structure and implement innovative financial solutions, develop new products and deploy a range of Bank products to attract financing from the private sector. This will include, but not limited to:
Duties and Responsibilities
- Design products and financial services that are competitive, responsive to the evolving needs of the clients and consistent with the development objectives of the Bank and specifically the High5s.
- Provide financial technical expertise and advisory services on project teams supporting task managers in originating, structuring, appraising, negotiating, restructuring, secondary sales and closing of transactions.
- Assist Bank’s clients to manage risk through customized derivative based hedging solutions.
- Contribute to the Bank's initiative to develop African capital markets through the provision of long-term currency solutions funded through bonds, synthetically or swaps.
- Support the general dissemination and implementation of the Bank Group’s financial products, including developing and delivering training workshops, awareness and capacity building for Bank’s staff and clients.
- Participate in the policy and transactional dialogue around the development, structuring and implementation of transactions, employing a range of Bank products designed not only to attract financing from the private sector at the best available terms and conditions for the benefit of Bank clients but also help manage vulnerability to market related risks.
- Execute related swap trade transactions in the financial markets to hedge the Bank’s exposure to interest and currency risk as a result of loan features offered to clients.
The Senior Financial Analyst will carry out the following functions:
Development and Marketing of Financial Products:
- Design and implement new and/or enhanced financial products for financing, leverage of Bank Capital and risk management.
- Support the general dissemination and implementation of the Bank’s financial products. This involve developing and delivering training, marketing and communication modules, helping to resolve important funding and risk management issues.
- Monitor the performance of products and services, and where necessary, analyze, develop and implement changes to existing product range to ensure that they continue to adequately meet borrower needs.
- Assist in the management of the interaction with relationship teams and provide guidance across the full range of products, and be a consistent, credible and accessible point of contact.
- Share experiences and exchange information with similar Divisions in other MDBs and keep abreast of financial innovation that can help the Bank’s borrowers.
- Build and maintain highly effective and successful relationships with key internal and external stakeholders, including financial advisors, investment banks, multilateral development banks and other financial institutions.
Provision of Financial Technical Services to Sovereign and Non-Sovereign Transactions in Project Teams:
- Provide financial technical support and advisory services on project teams in originating, structuring, appraising, negotiating, restructuring, secondary sales and closing of transactions in various sectors utilizing the breadth of available instruments.
- Review and negotiate project documentation, including mandate letters, term sheet, loan and common term agreements.
- Support task managers developing guarantee transactions, including support during upstream preparation, structuring, negotiation, and closing of the transactions.
- Assist Bank’s clients in their debt management strategies through the design of customized derivative based hedging solutions.
Domestic Capital Markets Funding:
- Contribute to the Bank’s initiative to issue domestic bond in African Capital markets and on- lend to projects.
- Manage the process of local currency papers preparation to seek President’s approval to designate specific regional member countries currencies as approved lending currencies of the Bank and thereafter establish medium term note programs in the underlying countries.
- Contribute to the development of local currency funding strategies for Bank projects utilizing domestic bond issuance, cross currency swaps or synthetic derivative structures.
- Design structured transactions (partial credit guarantees, securitizations, credit enhancements, and risk sharing facilities) to assist clients mobilize local currency in domestic capital markets or through syndicated loan structures or commercial lenders.
Lending Rate Management:
- Verify data and information for loans with interest rate fixings and prepares all relevant documents required for swap execution.
- Execute related swap transactions on behalf of the Bank.
- Perform efficiency tests to ensure that all executed swaps and the hedged items (principal, maturity, index, etc.,) match for hedge accounting purpose.
- Simulates and prices loans in Bank’s treasury systems - Summit, Reuters and/or Bloomberg.
- Collaborate with market counterparties to estimate and verify the marked-to-market exposure of clients upon unwinding of a related swap.
Contributing to the development and adaptation of financial policies and programs:
- Assist in the design and implementation of a marketing strategy for the unit, both to internal and external clients.
- Participate as a key member of all the Asset and Liability Management Committee working groups and in technical working groups.
Perform other duties assigned by the Division Manager.
Including desirable skills, knowledge and experience:
Application Closing Date
- Hold at least a Master's Degree or its equivalent in Finance / Banking, Business Administration, Economics, Accounting related discipline
- A professional qualification in one of the aforementioned fields. A Chartered Financial Analyst (CFA) charter holder or ICMA is an advantage.
- Have a minimum of five (5 years) of relevant professional experience with good market knowledge - particularly in relation to transaction structures, products, fixed income, derivatives, equity, African capital markets, due diligence, financial analysis of project finance and corporate finance lending and equity investments, risk management instruments.
- A strong background in investment and development banking with experience in working with private sector projects, state owned entities, utilities/infrastructure authorities and government.
- Having private sector experience will be an added advantage.
- Proven excellence in written and verbal communication skills, including the capacity to communicate complex and technical issues in simple terms, while maintaining absolute accuracy.
- Knowledge, Learning and Communication - Actively seeking knowledge needed to complete assignments and shares knowledge with others, communicating and presenting information in a clear and organized manner.
- Drive for results - Takes personal ownership and accountability to meet deadlines and achieve agreed-upon results, and has the personal organization to do so.
- Strong analytical, quantitative and financial market skills.
- Knowledge of fund raising and on-lending activities in developing capital markets, particularly in Africa.
- An understanding of the capital markets and demonstrated understanding of project finance and the use of risk mitigation instruments to catalyze private capital.
- Strong Operational Effectiveness, Problem solving, Innovation and Creativity, Client Orientation and teamwork and relationships.
- Excellent written and verbal communication skills, in English or French preferably with a working knowledge of the other.
- Competence with use of standard MS Office software applications, particularly Word, PowerPoint, and Excel and Treasury Systems - Summit, Reuters and Bloomberg applications and SAP - Loan Administration.
26th April, 2019.
How to Apply
Interested and qualified candidates should:
Click here to apply online
This position is classified international status and attracts international terms and conditions of employment.