Senior Investment Specialist

IMPORTANT INFORMATION

This is a special fixed-term appointment for a period of three (3) years). The duration may be extended on exceptional basis for a further fixed period at the option of Asian Development Bank (ADB), if the position continues to be required and funded under the Canadian Climate Fund for the Private Sector in Asia II. A special fixed-term appointment will automatically and without prior notice expire at the end of the original or extended term.

This appointment is open to internal and external applicants. If the successful candidate is an ADB staff member holding a regular appointment, his/her regular appointment will be converted to a special fixed-term appointment.

Job Purpose

Within ADB's Private Sector Operations Department (PSOD), the Private Sector Investment Funds & Special Initiatives Division (PSIS) deploys and administers third party donor capital alongside ADB financing in ADB's non-sovereign operations (blended finance).

PSIS is seeking a Senior Investment Specialist to act as the Fund Administrator for a new $150 million co-financing initiative (the “fund”) designed to support greater private sector participation in climate projects in low and lower middle income countries in Asia and the Pacific. The fund will provide concessional cofinancing for ADB's non-sovereign climate adaptation and mitigation transactions and also aims to improve gender equality in private sector climate projects.

The fund will aim to play a key role in helping the private sector overcome development risks (market, technology, financing, regulatory and other) by offering financing on concessional terms and conditions to projects that would not proceed solely on a commercial basis. Concessional financing will be used to help offset cost hurdles and initiate and scale-up and replication in markets that show strong potential for growth.

The fund has been established as a trust fund, and will provide cofinancing alongside ADB for non-sovereign projects. Fund resources will not be used to finance stand-alone transactions, meaning ADB participation will be necessary in all transactions. ADB, acting as trustee of the fund will be responsible for the origination, processing, approval and monitoring of transactions in accordance with the fund arrangement. ADB will be the lender of record, or guarantor of record, for transactions supported by the fund. ADB will be guided by a set of principles on the use of concessional finance to minimize distortion of local markets.

The Fund Administrator will be primarily responsible for overseeing the fund. He/she will be responsible for ensuring ADB complies with contractual, fiduciary and investment responsibilities to the fund are being met and providing routine investor and financial reports and updates. The incumbent will also manage and analyze the investment portfolio performance and prepare the required documents. The incumbent will work within general policies, principles and goals, working directly with clients.

The ideal candidate will have a demonstrated track record of managing third party funds with strong experience in infrastructure, climate and blended finance and a background in asset management, finance and accounting.

Expected Outcomes

Project Development, Processing and Management

  • Overall administration and monitoring of the fund for compliance with operational and other guidelines and agreements, including fund documentation and ADB policies and procedures (e.g., ADB safeguards, integrity, and terrorism and anti-money laundering)
  • Administering and managing capital call requirements
  • Managing cash flow including projections
  • Maintaining accurate records of all fund transactions (disbursements, reflows)
  • Monitoring of the returns and other performance measures of the fund
  • Maintaining all investor communications and generating routine investor and financial reporting preparation and distribution packages
  • Leading the coordination with ADB's Office of Risk Management, Treasury Department, Controllers and other concerned offices for the preparation of information to be provided to the third party.
  • Working with external auditors for annual financial audits, including the provision of requested information to external auditors
  • Working closely with PSOD's portfolio management division to support day to day operations in the administration, monitoring, and risk management of projects co-financed by third parties
  • When needed to manage and reduce potential conflicts of interest, acting as a member of a separate ADB project team to represent the interest of a third party funds in ADB's processing of transactions
  • Assisting in the liquidation and dissolution of the fund
  • Coordinating with concerned ADB offices to resolve identified issues relating to the management of the fund

The role will also include tasks involving:

  • Supporting the origination of a pipeline of eligible private sector transactions and screening of investment opportunities in ADB's developing member countries
  • Assisting in the preparation of information packages for investment consideration
  • Analyzing and structuring transactions to maximize the potential for commercial co-financing and catalyzing of additional sources of capital
  • Undertaking due diligence, risk analysis and mitigation in the structuring of loans and mezzanine financing instruments for third party financing
  • Supporting ADB's internal approvals process including interfacing with credit, safeguards, integrity, legal and other teams as well as management and the ADB Board
  • Supporting the structuring of transactions utilizing third party funds, including providing inputs to transactions' documentation (e.g., term sheets, loan agreements, and risk participations)
  • Support the PSIS division in other ad hoc work as needed

b. External Liaison

  • Liaising with third party donor to ensure projects are aligned with the appropriate financing mandate and fulfill all conditions under co-financing agreements including approvals, monitoring, evaluation and reporting

c. Policy and Project Evaluation

  • Draft or comment on projects, policy and other papers related to private sector operations and development across a range of key themes and sectors
  • Maintain and share knowledge of emerging best practices in fund management

d. Knowledge Sharing

  • Conduct analysis and prepare discussion papers on third party finance topics, provide inputs to ongoing initiatives/discussions with donors about engaging the private sector in infrastructure financing activities
  • Participate in and contribute to internal and external training and conferences and other activities for advocacy, dissemination and knowledge building relating to third party financing

e. Strategy and Planning

  • Work with division team to help achieve ADB's co-financing goals and objectives
  • Participate in country teams for planning and programming purposes, particularly with respect to private sector development and operations and sector priorities

f. Staff Supervision

  • Take the role of team leader to develop capabilities/potential of reporting staff.
  • Track the performance of reporting staff providing clear direction and regular monitoring and feedback on performance.
  • Ensure the on-going learning and development of reporting staff

    Core Competencies

    Application of Technical Knowledge and Skills

    • Provides supervision to others in completing their technical tasks
    • Called upon for advice and guidance based on expertise gained by working in different countries and organizations
    • Contributes advanced knowledge and expertise to different parts of the Department

    Client Orientation

    • Proposes effective services and solutions to staff beyond presenting issues and past challenges
    • Assists colleagues adapt to the cultural and business norms of diverse clients and country situations
    • Gains respect for the breadth and depth of expertise demonstrated in effectively managing diverse clients and country situations
    • Called upon to resolve client situations that may impact their long-term ADB relationship

    Achieving Results and Problem Solving

    • Resolves situations where client needs are not being met
    • Shares past experiences from different projects, organizations, and countries to help achieve quality results
    • Ensures that thorough analysis includes current and relevant factors from different countries and contexts
    • Sought out for guidance and experience in overcoming the most challenging situations
    • Draws on long-term relationships with stakeholders to help plan for and achieve results

    Working Together

    • Addresses team members not contributing to required standards
    • Commits to delivering timely and high quality work to assist in the team's success
    • Develops and maintains good internal and external peer and senior level relationships
    • Helps teams understand common features to build rapport and overcome challenges

    Communication and Knowledge Sharing

    • Provides stakeholders with the level and quality of information required to achieve outcomes
    • Encourages others to seek long-term solutions to address feedback opposed to focusing on immediate concerns or reactions
    • Uses breath of multi-country and multi-client knowledge to equip clients and staff for more effective outcomes
    • Designs and implements project and program knowledge and services

    Innovation and Change

    • Consistently seeks more effective and practical ways for the Departmental delivery of services, products, and processes
    • Proposes new ways to improve the quality and relevance of products and services
    • Includes the core benefits and reasons for change when developing comprehensive change roll out plans
    • Influences and persuades decision makers by presenting business cases supporting the proposed changes

    Qualifications

    Education Requirements

    • Master's degree, or equivalent, in business administration, finance, and accounting or related fields, preferably at post-graduate level or its equivalent. A university degree in business, finance, accounting or related fields combined with a specialized experience in similar organization/s, may be considered in lieu of a master's degree.

    Relevant Experience

    • At least 10 years of experience in investment management with demonstrated ability to manage investment portfolios and client relationships
    • Relevant experience in developing private sector climate mitigation and adaptation projects with experience in gender equality
    • International experience working in development in several countries
    • Excellent oral and written communication skills in English are required, including a demonstrated ability to communicate ideas clearly and confidently with good presentation skills in one-on-one settings or to larger groups (inside and outside of ADB)
    • Highly motivated and strong work ethic
    • Excellent organizational, multi-tasking and time management skills with demonstrated ability to work efficiently and meet deadlines
    • Strong interpersonal skills and ability to work effectively with large, culturally diverse teams at all levels

    Reporting Relationships

    • Supervisor: Director

    • The following staff positions may be supervised by the incumbent:

      • Administrative Staff

      • National Staff

    We encourage diversity in our workplace and support an inclusive work environment. Women are especially encouraged to apply