Transaction Support Specialist (Integrity) | Asian Development Bank

Transaction Support Specialist (Integrity)

IMPORTANT INFORMATION

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.

Close relatives1 of ADB staff, except spouses of international staff, are not eligible for recruitment and appointment to staff positions.

Applicants are expected to disclose if they have any relative/s by consanguinity/blood, by adoption and/or by affinity/marriage presently employed in ADB.

1 Close relatives refer to spouse, children, mother, father, brother and sister, niece, nephew, aunt and uncle

Staff on probation are not eligible to apply. Applicants for promotion must have served at their position for at least one year and must have normally served at their personal level for at least two years immediately preceding the date of the vacancy closing date. Applicants for lateral transfer must have served at their position and personal level for at least one year immediately preceding the date of the vacancy closing date (reference A.O. 2.03, paragraphs 5.8 and 5.9).

In the event that the staff appointed to a new category (i.e. AS to NS or from NS to IS) is rated at 2 or lower in the first performance review after staff has completed at least one full year in the new level, they will return to the level occupied immediately prior to their appointment in the new position.

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 is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. ADB combines finance, knowledge, and partnerships to fulfill its expanded vision under its Strategy 2030.

ADB only hires nationals of its 67 members.

The position is assigned in the Private Sector Transaction Support Division (PSTS) within the Private Sector Operations Department (PSOD). PSTS is responsible for providing technical expertise PSOD on matters relating to: 1) integrity and tax due diligence; 2) development effectiveness; 3) environmental and social safeguards; and 4) technical assistance. 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.

Job Purpose

The Transaction Support Specialist (Integrity) is a key role within the Integrity Due Diligence (IDD) team. The team is comprised of three international staff, one national officer, one analyst and approximately 20 consultants.

The role will work with the PSOD deal teams in identifying the ownership structure of each transaction together with any related party associations. From there the role is expected to provide technical expertise in conducting integrity and tax due diligence with the support of other team members. A final risk assessment together with any possible mitigating actions is then prepared and issued to the deal teams.

The IDD team also assists the Private Sector Portfolio Management (PSPM) teams with annual integrity updates on PSOD's portfolio and in addition supports the trade and supply chain finance and microfinance teams on IDD matters.

The role requires knowledge of private equity structures, all types of business entities, rules and financial regulations of different jurisdictions and a strong working knowledge of current initiatives of FATF and FATCA, AML and CTF rulings and the Global Forum on Tax Transparency. In addition, knowledge of tax rulings and initiatives of the OECD and the EU and their application to private equity structures is also required. This is a hands-on role and the position will be expected to have an understanding of complex private equity structures and be able to identify risks as well as providing recommendations and solutions on how to mitigate those risks.

The incumbent will report to Director PSTS and will supervise national and administrative staff and/or consultants.

Responsibilities

a. Integrity and Tax Due Diligence

  • Works on investment transactions with PSOD's deal teams to identify ownership structures up to ultimate beneficial ownership;

  • Applies a risk-based approach in identifying integrity, tax, and governance risks at each level of the deal structure;

  • Identifies related party transactions and assesses the integrity, tax, and governance risks associated with those relationships including Base Erosion and Profit Shifting (BEPS) and transfer pricing;

  • Conducts research in accordance with ADB's IDD and Tax IDD Guidelines and supervises internal and external consultants where required;

  • Drafts integrity and tax due diligence disclosures for inclusion in investment submissions to PSOD's Investment Committee and ADB's Board of Directors;

  • Liaises with ADB's Office of Anticorruption and Integrity (OAI) on integrity and tax due diligence assessments;

  • Manages relationships and workflow with a variety of internal stakeholders, including PSOD's deal teams, portfolio management teams, legal and OAI;

  • Keeps track of ongoing industry, market and product developments, including developments in anti-money laundering (AML) and combating financing of terrorism (CFT) regulations, international taxation rules and policy initiatives, sanctions lists, private equity deal structuring and current trends;

  • Ensures a strong compliance culture and discipline to follow through on internal policies and procedures.

b. Corporate Governance Due Diligence

  • Works with PSOD's deal teams to conduct corporate governance due diligence on new transactions;

  • Assists the deal teams in the appointment and evaluation of external consultants where corporate governance due diligence is outsourced;

  • Supports PSOD's deal teams in formulating a corporate governance action plan and assists in progress reviews over the term of the plan.

c. Coordination and Strategic Support

  • Works on policy and process related activities on corporate governance, integrity, and tax due diligence related matters for PSOD;

  • Drafts, reviews and provides comments, as needed, on policies and processes related to operational issues in various themes and sectors.

d. Knowledge Sharing

  • Participates and contributes to relevant learning events and other activities for advocacy, dissemination and knowledge building;

  • Maintains and shares knowledge of emerging best practices in the areas of corporate governance, integrity, and tax due diligence.

e. Staff Supervision

  • Takes the role of team leader as needed and supervises the work and performance of team members;

  • Provides clear direction and regular monitoring and feedback on performance;

  • Ensures the on-going learning and development of reporting staff.

f. Others

  • Assists in the establishment of a digital, AI solution for integrity and tax due diligence research;

  • Assists in training and capacity building of PSOD staff in other functional areas on matters relating to integrity and tax due diligence and tax transparency; and

  • Assists in the recruitment and supervision of external consultants as required.

Qualifications

Relevant Experience & Requirements

  • Master's degree or equivalent in business, law, public administration or related fields;

  • At least 8 years relevant professional experience working for a global asset manager or investment bank in transactional support and/or operational integrity within the private equity/alternative asset classes.

  • Experience working on complex private equity/alternative asset structures in multiple jurisdictions.

  • Experience developing or implementing management systems for corporate governance, integrity due diligence, and tax due diligence.

  • International experience working in development in several countries, coordinating and working in multi-disciplinary teams.

  • Proactive, self-starter and able to multi-task, work under pressure and meet tight deadlines

  • Excellent written communication and presentation skills in English

  • Strong interpersonal skills and ability to work in a multi-disciplinary and diverse team of professionals.

  • Please refer to the link for ADB Competency Framework for International Staff Levels 3 to 4

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.