African Development Bank (AfDB) established to strengthen dialogue between the Bank and the Government is recruiting to fill the below position:
Position Title: Financial Risk Officer
Grade: PL-4/PL-5
Position N°: NA
Reference: ADB/13/114
Objectives
The overall objective of the Financial Management Department is to safeguard and improve the Bank Group’s risk bearing capacity while seeking ways to improve its efficient use for the benefit of clients, shareholders and staff. The specific objectives of the Asset and Liability Management Division are to:
- Formulate and propagate asset and liability management policies, capital adequacy policies and guidelines. Monitor and report on compliance with these policies and guidelines.
- Prepare financial projections for the Bank Group institutions (ADB, ADF and NTF) and periodically update them.
- Prepare financial management documents related to the Bank Group’s resources mobilization efforts (ADB capital increases and ADF replenishments).
Duties and responsibilities
Under the general guidance and direction of the Division Manager, Asset/Liability Management, the incumbent will perform the following duties and responsibilities:
- Formulate and periodically review the asset liability management (ALM) policies, liquidity policies and guidelines for the Bank Group institutions;
- Update the Bank’s Capital Adequacy and exposure management framework, monitor the Bank’s capital utilization rate, and provide recommendations to maintain the Bank’s triple A rating.
- Update medium and long-term financial projections for the Bank Group institutions, and provide simulations for various stress scenarios;
- Develop and upgrade the ALM systems, credit risk systems, financial models and other software applications used by the Division to maintain an adequate risk management infrastructure.
- Prepare the Bank’s annual medium-term financial performance outlook document, reporting to the Board on compliance with the Bank’s Income model and providing proposals for annual Net Income allocations.
- Prepare the Bank’s annual market risk review, providing a monitoring report to the Board on currency, interest rate, liquidity and counterparty risks.
- Prepare monthly reports on currency and interest rate risks, as well as quarterly reports on financial projections, liquidity risk and debt allocation.
- Liaise with counterparts at other institutions, particularly Multilateral Development Banks (MDBs), to exchange views and ideas on financial policies, ALM approaches and risk management methodologies.
- Provide advisory support on all issues relating to ALM policies, Capital adequacy and financial projections, and develop capacity building programs for African institutions and Central Banks.
Selection Criteria
Including desirable skills, knowledge and experience
- At least a Master's Degree in Finance, Banking, Business Administration, Management Information Systems or in similar quantitative disciplines.
- At least 6 years (for PL-4) and 5 years (for PL5) of relevant experience in Banking, Finance, and/or in financial risk management related areas.
- Experience in the preparation of Asset/Liability management policy documents, Capital Adequacy policy documents and guidelines for a MDB or a commercial Bank.
- Solid understanding of financial instruments and risk management concepts, and ability to adapt to best industry practices relating to ALM and Capital adequacy issues in the environment of MDBs;
- Proficiency in use of spreadsheets including modelling skills and experience in the implementation and programming of information systems.
- Ability to communicate effectively (verbally and in writing) in English and/or in French, with a working knowledge of the other language;
- Excellent team player with good communication and interpersonal skills;
- Competence in the use of standard software used in the Bank such as Word, Excel, and Power Point.
Application Closing Date
23rd August, 2013
Method of Application
Interested and qualified candidates should:
Click here to apply online