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 members.
The position is assigned in the Portfolio Management Division (PSPM) within the Private Sector Operations Department (PSOD). PSPM is accountable for the pro-active management, reporting and review of ADB's growing portfolio of private sector loan, guarantee, equity, and private equity fund investment assets, including managing client relationships. PSPM is currently composed of Infrastructure, Financial Institutions and Private Equity Funds teams.
PSOD provides investment capital to private sector entrepreneurs, corporates and project sponsors, as well as financial intermediaries, such as banks, throughout developing Asia. We catalyze, structure, and fund investments in privately held and state-sponsored companies across a wide range of industry sectors. Our emphasis is on commercially viable transactions that generate financial returns while also delivering on ADB's organization-wide mission to promote environmentally sustainable and inclusive economic growth. PSOD is looking for exceptional project and corporate financiers or developers able to identify, structure and close innovative, developmentally and financially robust debt, equity and guarantee transactions. To learn more about PSOD, watch our video on “Working with ADB on Private Sector Financing.”
To view ADB Organizational Chart, please click here.
The Investment Specialist will be working directly with clients, taking responsibility for a number of designated accounts within PSPM's overall portfolio of debt, equity and other investments in infrastructure projects, corporates, financial institutions and private equity funds in developing Asia. The role holder will contribute to the build-out and development of a “best in class” asset and portfolio management function. The role holder will report to Director, PSPM and will supervise national and administrative staff.
a. Management of Key Accounts
- Assumes primary account responsibility and relationship responsibility for assigned key accounts;
- Reviews and/or approves covenant compliance reports, waivers and amendments, annual reviews, ratings, valuation reports, exit proposals and other documents in connection with primary or secondary account relationships; and
- Performs, if assigned by Director PSPM, the role of director on the board of certain ADB investee companies representing ADB's interest in accordance with the principles of sound corporate governance.
b. Portfolio Management
- Oversees the monitoring of the financial health and development impact of the portfolio, ensuring that key issues like portfolio and prudential exposure limits are considered and strategic objectives are attained;
- Monitors periodic review and progress reporting of project implementation, compliance with financial covenants, compliance with environmental and social safeguards standards;
- Monitors payment of fees, loan servicing, receipt of income/dividends from equity investment and equity divestment;
- Monitors the tools being used for financial analysis, risk evaluation and review, and measures to mitigate the identified risks;
- Monitors PSOD's portfolio in terms of composition, size, quality, concentration risk, diversification, credit quality migration, valuation movements, and other criteria;
- Ensures quality and consistency of reports and outgoing communications related to portfolio management;
- Compares exit alternatives and executing approved exit options, which include sell down, hedging, and other exit management measures;
- Assesses the impact of prospective new financings on existing portfolio;
- Oversees the quality of project records management system in ADB's online document management system or other equivalent systems; and
- Identifies emerging risks and project implementation problems and leading the identification of action plans to mitigate against such risks and may be involved in restructuring, or workout activities.
c. Strategy and Planning
- Prepares and monitors annual portfolio management plans;
- Leads and oversees the development of a sound portfolio management strategy;
- Designs tools, instruments and models to optimize PSOD's portfolio or a specific component of the portfolio, and executing its optimization strategy effectively; and
- Leads, supervises and participates in a number of initiatives and change projects.
d. Knowledge Center for Governance, Risk Advisory, and Development Impact
- Leads and oversees the coordination and expansion of existing and future programs introducing international best practices at investee companies with regard to corporate governance, credit procedures, risk management, internal controls, and other initiatives;
- Measures expected development, environmental and social safeguard outcomes in existing and proposed interventions in close liaison with the Private Sector Transaction Support team (PSTS); and
- Leads and manages the portfolio review, credit reviews and extended annual review reports (XARRs) of the portfolio.
e. External Liaison and Knowledge Sharing
- Facilitates active relationships with financial intermediaries in the region, institutional investors and other commercial partners;
- Maintains and shares knowledge of emerging best practices in project/corporate financing, private equity, corporate social responsibility, and overall investment management;
- Develops and maintains relationships with the key business and political leaders in developing Asia; and,
- Analyses and reports on market and investment trends.
f. Staff Supervision
- Creates and leads multidisciplinary teams and ensure the overall quality of work;
- Supervises the performance of teams and individuals providing clear direction and regular monitoring and feedback on performance; and
- Provides coaching and mentoring to team and individuals and ensure their ongoing learning and development.
Relevant Experience & Requirements
- Master's Degree, or equivalent, in business administration, finance, or related fields. University degree in business administration, finance, or related fields combined with specialized experience in similar organization/s, may be considered in lieu of a Master's degree
- At least 8 years of relevant professional experience in commercial financial institutions, including hands-on experience in project administration as well as experience in structuring and processing loans and equity investments for projects, corporates and financial institutions, analyzing credit risks, syndicating financial transactions, exit from equity investments and related banking activities
- Good understanding of how to conduct advanced credit and valuation analysis in respect of one or all of project and corporate finance transactions, financial institutions and private equity funds; a deep understanding of debt and equity markets and products is essential
- Experience in risk management , including rating methodologies, risk categories (market risk, credit risk, operational risk), etc.
- Extensive knowledge and understanding of loan, investment and credit products, including underwriting, pricing, servicing, accounting, exiting, etc. and with particular experience in developing markets
- Ability to lead negotiations with investee companies, borrowers, fund managers, existing and prospective shareholders, sponsors, co-lenders and co-investors
- Experience in dealing with distressed assets will be an advantage
- Strong analytical and structuring capabilities
- Ability to multi task
- Excellent oral and written communication skills in English, in particular strong ability in business writing
- International experience working in development in several countries
- Please refer to the link for ADB Competency Framework for International Staff Levels IS3 to IS4.
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.