Treasury Officer, FITR.2 at African Development Bank Group (AfDB)

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

We are recruiting to fill the position below:

Job Title: Treasury Officer, FITR.2

Position Number: 50055250
Location: Abidjan, Cote d'Ivoire
Position Grade: PL6

The Position

• Under the supervision of the Division Manager, Treasury Operations Division (FITR.2), the Treasury Officer settles Asset and Liability Management (ALM) transactions, reviews the borrowing and derivative documentations, reconciles the securities accounts, processes the corporate actions and the tax claim linked to investment instruments (Money Market, fixed income securities and derivatives), and assist in the management of collateral activities. 

Key Functions
Under the supervision of the Principal Treasury Officer of the Capital Market Operations, the responsibilities of the Treasury Officer will include, but are not limited to the following:
Validate, affirm and settle the Bank Group ALM transactions:

• Verify set-up of capital market operations (Bond, Money market, Futures, Swap and Gold swaps etc.)  economic terms in Summit against related trade confirmations received from counterparties to ensure accurate cash flow generation and report any exceptions to the middle-office/front-office for regularization.
• Generate and send Money Market and FX Swap trade confirmations to the respective counterparties, Match confirmations issued and received using GT Match (automated reconciliation system) and investigate and regularize discrepancies before the release of the related settlement instructions.
• Validate trade   SSIs, check the availability of funds on the   cash flow   report, assign the appropriate   place of settlement, generate the adequate settlement instructions   and cash transfer to avoid settlement failures.
• Validate debt service payments before due date with the Issuing & Paying Agent (IPA) and the swap counterparties to ensure the Bank meets its financial obligations.
• Perform periodic review of counterparties SSIs and contacts and update Summit database.

Process tax exemptions and corporate actions event related to the bank's investment and borrowing portfolio:
Tax exemptions:

• Periodic review of the Bank's tax exemptions and certificates of withholding tax with custodians and correspondent banks and provide necessarily information to avoid any financial losses.
• Gather and process tax claim notices issued by correspondent banks to avoid tax deduction on income.

Corporate actions:

• Generate the income and entitlement reports on the investment portfolio in Summit  and reconcile with information received from the custodians and investigate any discrepancies.
• Monitor corporate actions (certification, tender, class action) and take appropriate actions to avoid financial losses.
• Process Call notifications and Buyback notices on borrowing transactions; inform the respective Issuing and Paying Agent (IPA) and transfer the necessarily cash amounts to avoid settlement failures.

Perform daily margin calls on the Bank Group OTC derivatives portfolio:
Swaps, Swaptions, FX Swap trades:

• Generate in Summit the Bank daily margin requirements on OTC exposure and send margin calls to CSA/GMRA counterparties and Clearing Broker before contractual cut of times.
• Validate accuracy of margin calls (response/initiation) received from counterparties (market value of the portfolio, credit support balance, applicable Threshold and Minimum transfer amounts etc.) to ensure adequate margining of the Bank derivatives exposure and investigate discrepancies.
• Validate collateral movements including substitutions, reflect credit support flows in Summit for generating the related settlement instructions and accounting postings.
• Reconcile the month end collateral positions and interests on cash credit supports with CSA/GMRA counterparties and generate the related payment instructions.
• Maintain the CSA/GMRA statics in Summit.

Futures and Options:

• Ensure adequate margining of the bank's Futures and Options portfolio with the Clearing Brokers.
• Generate in Summit the daily margin requirements on Futures & Options exposure and send them to the Clearing Brokers before contractual cut of times.
• Validate accuracy of margin calls (response/initiation) received from the Clearing Brokers and investigate discrepancies. 
• Reconcile the bank's Futures and Options portfolio.
• Maintain the Give-up Agreement (Futures & Options) statics in Summit.

Participate in the review of ISDA/CSA agreements and borrowing documentations and process all derivative contracts:

• Ensure that a confirmation is received for each derivatives transaction on a timely basis.
• Ensure that derivative confirmations comply with the current ALM guidelines and the Treasury open mandate's terms.
• Verify the accuracy of the borrowing and derivative contracts against trade tickets and transaction's final terms sheets. Report discrepancies to the traders or counterparties for regularization.
• Monitor and manage discussions between the Bank's Legal department (PGCL), Treasury Risk management’s division (FIFM3), Operations (Private and Public sectors), Accounting department (FIFC) and counterparties to achieve agreement on the financial and legal terms of the confirmation
• Ensure, after PGCL's clearance, that confirmations are signed by the authorized signatory (The Treasurer) archived and subsequently forwarded to the counterparty.
• Implement   "MarkitServ” application   to enable real time affirmation and confirmation of derivative transactions.
• Maintain an adequate record of the status of all confirmations:

Review and update of standard settlement instructions (SSIs):

• Perform periodic review of all SSIs in line with market standard and regulations and prepare a consolidated SSIs list for distribution to all stakeholders.
• Update timely all SSIs in the treasury applications to avoid settlement failures.

Investigation and Reporting:
Daily:

• Reconcile the daily internal coupon and redemption schedule against custodian income statements, transfer cash available to the main accounts for investment and investigate any discrepancy.
• Identify bonds that undergo partial redemption and inform both the Front and Middle Office.
• Review daily settlement notices (match & unmatched alerts) issued by custodians and counterparties and take necessarily actions to avoid settlement failures.

Monthly:

• Reconcile the Bank securities and Futures & Options positions against custodian/Clearing broker statements using GTMatch on a monthly basis and investigate any mismatch.
• Prepare the monthly settlement failure, custodian fees and non-performing counterparty's reports

Compentencies (skills, experience and knowledge)

• Minimum of a master’s degree in business administration, Finance, Banking, Accounting, Economics or related fields.
• A minimum of four (4) years of relevant practical working experience within a Back-Office environment.
• Sound understanding of financial instruments and very good knowledge of capital operations and instruments settlement procedures.
• Strong analytical skills, ability to work without supervision to resolve complex settlement problems.
• Proven ability to reduce settlement failure of capital market operations transactions.
• Private Sector Experience an added advantage.
• Good understanding of payment processing in an automated environment that includes Swift messages.
• Marketing and presentation skills are needed to communicate with stakeholders.
• Teamwork & Relationships: Work with others to maximize the effectiveness of the team as a whole, share the knowledge and workload.
• Develop strong working relationships with colleagues and contribute to creation of a positive team environment.
• Strong ability to work under pressure.
• Articulate, meticulous and well-organized.
• Demonstrable familiarity with and knowledge in the use of a Treasury Systems (preferably Summit, Bloomberg plus common IT skills);
• Communicate and write effectively in English or French, with a good working knowledge of the other language.
• Competence in the use of standard Microsoft Office applications (Word, Excel, Access, PowerPoint); Knowledge of SAP/FI or other ERP, Cards management, SWIFT, GTMATCH will be an advantage.

Application Closing Date
29th July, 2025. 

How to Apply
Interested and qualified candidates should:
Click here to apply online