Principal Investment Specialist | Asian Development Bank

Principal Investment Specialist

Overview

Asian Development Bank (ADB) is an international development finance institution headquartered in Manila, Philippines and is composed of 67 members, 48 of which are from the Asia and Pacific region. ADB's mission is to reduce poverty and promote sustainable economic growth in the region. ADB's main instruments for helping its developing member countries are policy dialogue, loans, equity investments, guarantees, grants, and technical assistance.

ADB only hires nationals of its 67 member countries.

The position is assigned in the Investment Funds and Special Initiatives Division (PSIS) within the Private Sector Operations Department (PSOD). PSIS is responsible for deal identification and processing, up to signing, for investments in private equity funds, execution support/product expertise for direct equity investments (particularly as it relates to co-investment activities) / divestments, management of concessional financing relationships and funds, and other special investment initiatives. PSOD provides investment capital to private sector entrepreneurs, corporates and project sponsors, as well as financial intermediaries, such as banks, throughout developing Asia. To learn more about PSOD, watch our video on “Working with ADB on Private Sector Financing”.

To view ADB's Organizational Chart, please click here.

IMPORTANT NOTE:

1. This is a re-advertisement. Applications received from previous posting will be considered together with applications received in response to advertisement. Previous applicants need not apply.

2. 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 ADB, if the position continues to be required and funded under the “Leading Asia's Private Infrastructure” (LEAP) Fund co-financing initiative with JICA. 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 in ADB's non-sovereign operations.

PSIS is seeking a Principal Investment Specialist to act as the Fund Manager for a co-financing initiative with the Japan International Cooperation Agency (JICA), designed to stimulate investment in quality and sustainable private infrastructure in Asia and the Pacific. The Leading Asia's Private Infrastructure (“LEAP”) fund will be capitalized with $1.5 billion in equity from JICA, and combined with ADB's own capital and that of commercial co-financing partners, is expected to mobilize financing of at least $6 billion over a five-year investment period.

LEAP will target a wide range of quality infrastructure transactions in energy and power generation (with a strong focus on renewable energy and energy efficiency), water and urban infrastructure, transport, information and communications technology, and health. The fund will provide co-financing to private companies and projects at different stages of development, including early stage, growth stage, and greenfield and brownfield. It will support various private sector participation modalities, such as public-private partnerships, joint ventures and infrastructure concessions, and corporate financing, while using a range of debt, equity and mezzanine instruments.

The Fund Manager will primarily oversee the LEAP fund. He/she will be responsible for working closely with the relevant departments within ADB to ensure that ADB complies with contractual, fiduciary and investment responsibilities to the fund 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. He will work within general policies, principles and goals, working directly with clients. The Fund Manager may also be required to work on other projects within the PSIS division, as required.

The ideal candidate will have a demonstrated track record of managing third party funds with extensive experience in infrastructure finance, significant and practical experience with direct investing, and a background in banking, finance, asset management and accounting.

Responsibilities

Project Development, Processing and Management- 1.) Overall administration and monitoring of the LEAP 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); 2.) Administering and managing capital call requirements; 3.) Managing cash flow including projections; 4.) Managing expenses (including providing guidance to project teams and reviewing the expense budget) on a regular basis; 5.) Maintaining accurate records of all fund transactions (disbursements, reflows); 6.) Monitoring of the returns and other performance measures of the fund; 7.) Maintaining all investor communications and generating routine investor and financial reporting preparation and distribution packages; 8.) Leading the coordination with Office of Risk Management, Treasury Department, Controller's Department and other concerned offices for the preparation of information to be provided to a third party; 9.) Leading the coordination with Office of Risk Management, Treasury Department, Controller's Department and other concerned offices for the preparation of information to be provided to a third party. 10.) Working with external auditors for annual financial audits, including the provision of requested information to external auditors; 11.) 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; 12.) 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; 13.) Assisting in the liquidation and dissolution of the fund; 14.) Coordinating with concerned ADB offices to resolve identified issues relating to the management of the LEAP fund; 15.) Supporting the origination of a pipeline of LEAP-eligible private sector infrastructure transactions and screening investment opportunities in ADB's developing member countries;

16.) Assisting in the preparation of information packages for investment consideration; 17.) Analyzing and structuring transactions to maximize the potential for commercial co-financing and catalyzing of additional sources of capital; 18.) Undertaking due diligence, risk analysis and mitigation in the structuring of loans, equity investments, mezzanine financing instruments for third party financing; 19.) Supporting ADB's internal approvals process including interfacing with credit, safeguards, integrity, legal and other teams as well as management and the ADB Board; 20.) Supporting the structuring of transactions utilizing third party funds, including providing inputs to transactions' documentation (e.g., term sheets, loan agreements, shareholder agreements and guarantees); 21.) Support the PSIS division in other ad hoc work as needed, including executing strategies that support the PSOD strategy

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 (if needed), monitoring, evaluation and reporting

Policy and Project Evaluation- 1.) Draft or comment on projects, policy and other papers related to private sector operations and development across a range of key themes and sectors; 2.) Maintain and share knowledge of emerging best practices in fund management

Knowledge Sharing- 1.)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; 2.) 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

Strategy and Planning- 1.) Work with division team to help achieve ADB's co-financing goals and objectives; 2.) Participate in country teams for planning and programming purposes, particularly with respect to private sector development and operations and sector priorities

Staff Supervision- 1.) Take the role of team leader to develop capabilities/potential of reporting staff; 2.) Track the performance of reporting staff providing clear direction and regular monitoring and feedback on performance; 3.) Ensure the on-going learning and development of reporting staff

Qualifications

Relevant Experience & Requirements

  • Master's degree, or equivalent, in Business Administration, Finance, and Accounting or related fields. 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;

  • At least 12 years of experience in investment management with demonstrated ability to manage investment portfolios and client relationships;

  • Relevant experience in developing private sector infrastructure projects with a focus on energy and power generation (strong focus on renewable energy and energy efficiency), water and urban infrastructure, transport, information and communications technology, and health;
  • Strong practical experience in structuring, negotiating and monitoring investments;
  • 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;

General Considerations

The selected candidate is appointed for an initial term of three (3) years.

ADB offers competitive remuneration and a comprehensive benefits package. Actual appointment salary will be based on ADB's standards and computation, taking into account the selected individual's qualifications and experience.

ADB seeks to ensure that everyone is treated with respect and given equal opportunities to work in an inclusive environment. ADB encourages all qualified candidates to apply regardless of their racial, ethnic, religious and cultural background, gender, sexual orientation or disabilities. Women are highly encouraged to apply.

Please note that the actual level and salary will be based on qualifications of the selected candidate.