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.
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 only hires nationals of its 68 members.
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while strengthening its efforts to eradicate extreme poverty. ADB combines finance, knowledge, and partnerships to fulfill its expanded vision under its Strategy 2030.
The position leads the Office of Risk Management (ORM). ORM has a broad mandate and ensures that ADB's sovereign and private sector operations are sustainable by safeguarding ADB's rating, advising Board and Management on risk issues and the implementation and management of strong internal risk cultures. ADB's asset portfolio contains loans, guarantees, and equity investments across ADB's region in both hard and local currencies.
ORM is currently composed of five (5) divisions/units: Two Credit Divisions; Risk Policy and Architecture Division; Treasury and Operational Risk Unit and Remedial Management Unit.
To view ADB Organizational Chart, please click here.
Head, Office of Risk Management (ORM) leads the continuous development, planning, implementation and supervision of the ORM's vision, goals, strategies and work plans to ensure best practice, sound and prudent, management of credit, market, counterparty, and operational risks in ADB's operations.
Head, ORM will be responsible for: (i) providing timely reporting and advice on various ADB-wide risk issues; (ii) developing, implementing, and monitoring all risk related policies and guidelines; and (iii) ADB's capital adequacy framework including conducting a periodical stress-testing to validate the institution's risk bearing capacity. He/she will be expected to ensure achievement of ORM's objectives and continuously inform the Board and Senior Management of emerging risk issues and portfolio developments.
The incumbent will report to Vice President, Finance and Risk Management and will supervise international, national and administrative staff.
a. Leadership and Strategic Management
- Develops, establishes and cascades the ORM's vision, goals, development strategies and key result areas through the organisation in support of ADB's goals, office's goals and in compliance with ADB strategies.
- Leads the planning, implementation and supervision of ORM's work plans and monitors quality of output and achievement of long-term goals and annual objectives for the office.
- Leads the identification and implementation of improvements in the policies and programs of ORM and undertakes special projects to enhance its efficiency and effectiveness.
- Manages the full range of human resource and staff management issues, including: recruitment; performance evaluation and improvement; training; and conflict resolution.
- Introduces, implements and sustains innovative and best practice approaches to risk management operations.
- Participates in risk related and ORM organized investment, credit, portfolio and risk management meetings
b. Credit Risk Assessment
- Provides overall leadership in identifying, measuring, and mitigating risks of all new nonsovereign transactions (loans, guarantees, and equity investments) and ensures that approval of each new transaction complies with the credit policies and guidelines.
- Provides overall leadership in assigning risk ratings and making independent recommendations on risk mitigants, deal structuring, and pricing.
c. Credit Portfolio Monitoring
- Provides overall leadership in ensuring best practices and conducts timely monitoring and reporting of nonsovereign operations portfolio. Also responsible for managing watch listed and impaired nonsovereign transactions to safeguard asset quality and minimize potential losses.
- Delivers quarterly presentations to the Audit Committee of the Board, with emphasis on key portfolio risk developments, market and operational risks, capital adequacy, and risk issues in focus.
d. Market/ Treasury Risk and Operational Risk
- Provides overall leadership in implementing best practice for managing market and counterparty risks in treasury operations, overseeing derivative collateral management, and performing valuation of derivatives and borrowings for financial reporting.
- Oversees the development and maintenance of risk management framework for Treasury operations.
- Attends and participates in Asset and Liability Committee meetings.
- Provides overall leadership in identifying, assessing, monitoring and managing operational risks within ADB.
e. Policy and Systems
- Provides overall leadership in developing, implementing, and reviewing all risk related policies, procedures, models, and methodologies.
- Oversees the development and maintenance of risk management IT systems.
- Provides overall leadership in coordinating the annual review of ADB's credit ratings by rating agencies.
- Advises Senior Management and the Board on important risk management and capital adequacy issues.
f. Operations Management and Staff Supervision
- Leads internal coordination of the ORM's work program and inter-departmental responsibilities for ADB-wide decision-making processes.
- Manages human and budgetary resources and ensures technical competency, professionalism and high ethical standards for all ORM staff members.
- Provides overall leadership and management supervision for all activities of ORM. Oversees effective day-to-day operations and provides guidance on operational issues and ADB's risk related policies.
- Manages performance of teams and individuals providing clear direction, regular monitoring and feedback on performance.
- Provides coaching and mentoring to teams and individuals and ensures their on-going learning and development.
- Manages budget and resource allocation for the office, ensuring efficient allocation and utilization of resources, including staffing and training requirements.
g. Coordination with Internal and External Stakeholders
- Oversees the development and maintenance of productive relationship with external stakeholders (rating agencies, government regulators, external auditor) to facilitate the achievement of the office's objectives, goals and strategies.
- Facilitates effective coordination and cooperation with other departments and internal stakeholders.
- Continuously informs/updates senior Management of significant developments, emerging opportunities and challenges, and provides timely recommendations.
- Maintains contacts with functional counterparts in other financial institutions, including multilateral organizations, bilateral institutions, private sector financial institutions to stay current on sound and prudent risk management practices.
Relevant Experience & Requirements
- Master's degree or equivalent in 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, with at least 10 years in senior risk management position in a commercial bank, international financial institution and/or multilateral development bank ideally covering project finance, corporate finance, equity and capital markets.
- Experience in a credit decision making capacity at a senior level and with substantial level/s of authority.
- Familiarity with risk management in the economies of ADB's developing member countries will be an advantage.
- Proven skills and working experience in financial and risk analysis of businesses in major industrial sectors from both an equity and debt perspective with particular emphasis on lending in developing countries and analysis based on cash flow modeling.
- In-depth knowledge of and experience in private sector financial institution's credit processes, with particular emphasis on risk assessment and monitoring system, risk mitigation, risk distribution and portfolio management techniques, syndication and structuring products, pricing methodologies and legal documentation as well as collection and negotiation of distressed loans and impaired equity investments.
- Experience in handling other types of financial risks, such as counterparty credit risks, market and operational risks associated with ADB's treasury and structuring operations.
- Good understanding of operational strategies/policies, processes and programs of multilateral development organizations; preferably with practical experience in processing private sector transactions (loans, guarantees and equity investments) involving co-financing or public-private partnerships.
- Ability to communicate effectively and credibly with a wide range of stakeholders, particularly with Management, Board members, and external counterparts.
- Proven ability to set the right priorities under tight deadlines with multiple and complex demands.
- Proven track record to deliver results of high quality, based on: vision, strategic and analytical thinking, innovative approaches, sound judgment and teamwork.
- Excellent written and verbal communication skills in English.
- International experience working in development in several countries.
- Please refer to the link for ADB Competency Framework for International Staff Level 9 and 10.
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.