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Advisor, RMOD and Head, Remedial Management Unit

Important Information

This is a senior staff fixed-term appointment for a period of 3 years. This vacancy is open to internal and external applicants.

If the selected candidate is an external hire, the appointment may be extended for a period of up to 3 years per extension, or not renewed. In case of extension, staff may continue in the position for another term of up to 3 years, or be reassigned to any suitable position in ADB.

The same terms and conditions also apply to a selected internal candidate. In addition, if the staff selected has a regular appointment, staff will retain the regular appointment and his/her selection will be considered an assignment for an initial fixed period of 3 years. If the staff selected has a fixed term appointment, his/her appointment will cease, and he/she will be given a new fixed term appointment for an initial term of 3 years.

Fixed-term appointments or assignments are subject to Section 3 of Administrative Order (AO) 2.01 (Recruitment and Appointment) and Section 8 of AO 2.03 (Selection, Talent and Position Management) and its Appendices.

Whether the selected candidate is internal or external, and regardless of the type of appointment, any extension of staff beyond age 60 shall be subject to such terms and conditions determined by ADB, including, where relevant, those provided in Section 10 of AO 2.05 (Termination Policy) and its Appendices.

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).

Overview

Asian Development Bank (ADB) is an international development finance institution headquartered in Manila, Philippines and is composed of 68 members, 49 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 68 members.

The position is assigned in the Remedial Management Unit, Office of the Head (RMOD) within the Office of Risk Management (ORM). ORM ensures that ADB's goal is sustainable by safeguarding ADB's rating, advising Board and Management on risk issues and promoting a strong risk culture.

To view ADB Organizational Chart, please click here.

Job Purpose

The Advisor, RMOD and Head, Remedial Management Unit leads in (i) overseeing the Watchlist portfolio in collaboration with PSOD, (ii) pro-actively developing, advising, and implementing's strategy, using industry best practice, for exposures requiring remedial management, spanning from early problem recognition and risk mitigation, to corrective strategies, resolution of stressed exposures, to recovery operations; (iii) managing nonperforming debt and guarantee transactions and impaired equity investments, from reception to final resolution, in the most time and cost effective way, (iv) obtaining all necessary credit approvals in the course of implementing the workout strategy and regularly providing updates on such transactions to ADB's senior management and the board; (v) ensuring adequate communication with internal stakeholders to ensure that implementation of workout strategies is consistent with the broader strategies of ADB in the sector or country; (vi) managing the performance staff, providing clear direction and regular monitoring and feedback on performance; and (vii) promoting best practices and effectively disseminating lessons learned from the management of impaired transactions as widely as possible within ADB.

The incumbent will report to Head, ORM and will supervise, international, national and administrative staff.

Responsibilities

a. Leadership and Strategic Management

  • Leads, establish and cascade the unit's vision, goals, development strategies and key result areas in support of ADB's goals, Strategy 2030, departmental goals and in compliance with ADB policies.
  • Leads the planning, implementation and supervision of work plans; monitor the quality of output and the achievement of long-term goals and annual objectives for the unit.

  • Provides leadership in professional and operational matters, taking the initiative in contributing new and best practice approaches to enhancing operational risk management.

  • Leads and develop an annual strategic and business plan for benchmarking the unit's targets and accomplishments.

  • Leads and identify key priority areas of the unit.

  • Facilitates effective coordination with relevant departments to ensure compliance with ADB's operational risk management framework.

b. Remedial / Watchlisted Accounts

  • Identifies assets in the early stages of stress that require elevated risk designation.
  • Works with the Private Sector Operations Department and develops appropriate risk mitigating or effective exposure reduction strategies.

  • Drives implementation of strategies.

  • Monitors progress and recommends appropriate changes in ratings and designation for debt transactions and establishes fair value for stressed equity transactions.

  • Drives impairment decision, as needed.

  • Leads the implementation and spreading of best practices, in line with industry norms.

c. Corporate Recovery

  • Oversees the analysis of nonperforming and impaired, or potentially nonperforming and impaired transactions, which include financial and legal due diligence and analysis; interaction with accountants, legal and financial consultants; contacts with senior management of obligor/investee; construction of financial and valuation models as required; as well as other essential tasks.
  • Leads the determination and presentation of the best course of action in terms of exit strategy (e.g., sale, restructuring, liquidation, or any combination thereof) in the form of a workout strategy to the respective approval authority within ADB.

  • Leads the execution of the approved workout strategy; guides and contributes to all phases of the corporate recovery process in conjunction with all stakeholders involved; and negotiates with the obligor and other creditors as required.

  • Facilitates the transfer of assets deemed nonperforming, or impaired, or in risk of becoming nonperforming or impaired, from operational departments in a structured and documented fashion, if deemed necessary.

  • Ensures consistency in the determination and appropriateness of rating and accrual status for debt transactions, and establishes fair value for impaired equity transactions.

  • Leads the determination and approval of corporate recovery plans, to include recommendations on when to realize losses, release any rights/security interests, and make material changes in transactions.

  • Presents updated reports for each nonperforming or impaired transaction to ADB's Investment Committee on a quarterly basis, or more frequently due to a material change.

  • Ensures consistency in the determination and appropriateness of loan loss provisions and equity impairment estimates for the nonperforming portfolio.

  • Maintains and shares knowledge of emerging best practices in the area of early problem recognition, remedial and recovery operations.

d. Knowledge Sharing

  • Maintains knowledge of emerging best practices, new Basel standards and other international standards in operational risk management.
  • Serves as a resource person and provide support in organizing and conducting risk training to promote a risk culture in ADB.

e. External Relations and Coordination

  • Provides support for relationship management, consultation and coordination with government, development partners, and private sector groups in area of responsibility.

f. Internal Relations

  • Provides support for relationship management and coordination with the Board, Senior Management and other departments.

g. Unit Operations Management

  • Leads the effective day-to-day operations and provide guidance on operational issues and ADB policies.
  • Informs and provide recommendations to Head, ORM, of significant developments, emerging opportunities and challenges in area of responsibility.

  • Leads and facilitate effective unit coordination and cooperation with other ADB departments and internal stakeholders.

  • Undertakes the performance management of the unit, including motivation of staff.

  • Manages budget and resource allocation for the unit.

h. Staff Supervision

  • Supervises the performance of reporting staff, providing clear direction and regular monitoring and feedback on performance.
  • Provides coaching and mentoring to team and individuals and ensure their on-going learning and development.

    i. Others

    • Leads the refinement of the Watchlist review process for the non-sovereign portfolio,
    • Develops and implements gradient stressed risk designations (e.g., watchlist, special mention, substandard, performing, to include obligor risk rating (ORR) and facility risk rating (FRR) rating range applicability) and corresponding designated levels of involvement (e.g., consulting, advisory, direct, waiver, etc.)

    Qualifications

    Relevant Experience & Requirements

    • Master's degree or equivalent in finance, business administration, economics or other related fields. University degree combined with specialized experience in similar organization/s, may be considered in lieu of a Master's degree.
    • At least 15 years of relevant experience and demonstrated technical and multi-disciplinary competence relevant to the assigned areas.

    • Substantial remedial and recovery experience across various markets preferably with experience in Asia.

    • Proven ability to evaluate individual loans, guarantees, and direct and indirect equity transactions under a corporate recovery perspective; and familiarity with industry best practice in corporate recovery and corporate restructuring, with legal frameworks and bankruptcy laws would be an advantage.

    • Excellent written and verbal communication skills in English.

    • International experience working in several countries.

    • Please refer to the link for ADB Competency Framework for International Staff Levels 7-8.

      General Considerations

      The selected candidate is appointed for an initial term of 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.