Director

Job Vacancy | Friday, February 19, 2021

IMPORTANT NOTE:

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).

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

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 itsStrategy 2030.

ADB only hires nationals of its 68 members.

The position is assigned in the Credit Division 2 within the Office of Risk Management (ORM). The Division provides advice on deal structuring and risk mitigation, and provides credit decision and approval particularly for (i) corporate finance transactions, and (ii) equity investments. ORM ensures that ADB’s goal is sustainable by safeguarding ADB’s rating, advising Board and Management on risk issues and promoting strong risk cultures.

To view ADB Organizational Chart, please click here.

Job Purpose

The Director, RMCD2 will provide leadership for Credit Division 2 within Office of Risk Management (ORM). The position will lead in providing high standard and timely guidance, advice, credit decision on nonsovereign transactions particularly (i) corporate finance transactions; and (ii) equity investments, direct and indirect (e.g. through private equity funds or similar vehicles). Lead the planning, implementation, and supervision of the division's vision, goals, strategies, and work plan in support of ADB goals in nonsovereign operations and risk management. It will oversee the quality of work and ensure the achievement of objectives of the division; lead and support external and internal relations, coordination and consultation initiatives for the department, and promotion of risk culture in ADB and lead and provide guidance on day-to-day risk assessment activities and compliance with ADB risk management policies.

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

Responsibilities

a. Leadership and Strategic Management

  • Leads, establishes and cascades the division'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 division;

  • Provides leadership in professional and operational matters, taking the initiative in contributing new and best practice approaches to strengthening risk assessment/ mitigation, company valuation, deal structuring, credit/equity risk policy, and risk analysis methodology;

  • Leads and develops an annual strategic and business plan for benchmarking the division's targets and accomplishments;

  • Leads and identifies key priority areas of the division; and

  • Facilitates effective coordination with operations departments to ensure that new nonsovereign transactions are undertaken in compliance with ADB's credit/equity approval process.

b. Risk Assessment

  • Leads in providing advice and recommendations to the project teams on appropriate risk mitigation measures, deal structuring issues, valuation and pricing, terms and conditions, and financial covenants throughout the entire credit/equity approval process;

  • Leads in streamlining documentation requirements for all types of nonsovereign transactions during both the concept review and transaction review phases;

  • Leads in ensuring appropriate valuation and pricing of nonsovereign transactions based on the risk profile or applicable equity valuation methodologies, capital requirement, portfolio impact, and market considerations;

  • Leads in ensuring that each transaction complies with portfolio management objectives with respect to exposure limits, diversification and/or concentration as advised by the Risk Policy and Architecture Division;

  • Leads in providing support to operations department in due diligence assessments where the proposed transaction's complexity or unique risk profile warrants; lead in independent site visits for proposed transactions where warranted;

  • Leads in providing inputs into, and recommendation for, approval of risk ratings or equity valuation for new transactions; and

  • Leads in providing support for Investment Committee meetings.

c. Transaction Monitoring

  • Leads a team of risk professionals in monitoring ADB’s operations portfolios;

  • Leads in ensuring timely reviews of existing nonsovereign transactions and providing approval of risk ratings or fair value estimates; and

  • Leads in approvals of waivers of loan covenants and conditions, restructurings, changes in terms, and other amendments to transactions agreements.

  • Advises on voting instructions, board nominations, exercising of shareholder rights and in relation to corporate events.

d. External Relations and Coordination

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

e. Internal Relations

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

f. Division Operations Management

  • Leads the effective day-to-day operations and provide guidance on operational issues and ADB policies;

  • Informs and provides recommendations to Head, ORM, for significant developments, emerging opportunities and challenges in area of responsibility;

  • Leads and facilitates effective division coordination and cooperation with other ADB departments and internal stakeholders;

  • Undertakes the performance management of the division, including motivation of division staff; and

  • Manages budget and resource allocation for the division.

g. Staff Supervision

  • Creates and leads multidisciplinary teams and ensure the overall quality of its work;

  • Manages the performance of teams and individuals providing clear direction and regular monitoring and feedback on performance; and

  • Provides coaching and mentoring to the team, and individuals, and ensure their on-going learning and development.

Qualifications

Relevant Experience & Requirements

  • Master's degree or equivalent, relevant to theassigned area. University degree combined with specialized experience insimilar organization/s may be considered in lieu of a Master's degree.
  • At least 15 years of banking experience dealingwith credit and/or equity risk investment and monitoring issues related to complex(i) debt and guarantee transactions in corporate finance; and (ii) equityinvestments, direct and indirect, in priority sectors of ADB's nonsovereignoperations.

  • Experience in all aspects of credit riskassessments, mitigation, and structuring of debt, direct and indirect equity,or guarantee transactions including technical, financial, market/industry, andregulatory risk analysis with emphasis on effective and efficient creditdecisioning in emerging market environments, and proven ability to distill thekey drivers for credit and equity investment decisions.

  • Ability to lead a team of seasoned creditofficers to manage credit and equity approval processes tightly througheffective engagement with the business teams, while at the same time providingcoverage and approval for certain types of transactions directly.

  • Detailed understanding of lending and investmentpractices, banking products, financial modeling, rating methodology, stress testing,analytical framework for assessing economic capital and loan loss provisioningadequacy, company valuation (including all customary valuation methodologies) andrisk management concepts and methodology.

  • Excellent intellectual, team leadership andproblem-solving skills including strong ability to manage effective teamworkand communication.

  • Excellent oral and written communication skillsin English.

  • International experience working in severalcountries.

  • Please refer to the link forADB Competency Framework for International Staff Levels 7-

    8.

    General Considerations

    The selectedcandidate is appointed for an initial term of 3 years.

    ADB offerscompetitive remuneration and a comprehensive benefitspackage.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 ensurethat everyone is treated with respect and given equal opportunities to work inan inclusive environment. ADB encourages all qualified candidates to applyregardless of their racial, ethnic, religious and cultural background, gender,sexual orientation or disabilities. Women are highly encouraged to apply.

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