Associate Investment Officer
Job Vacancy | Monday, October 11, 2021
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.
1Close 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. from AS to NS, or from NS to IS) is rated at 2 or lower in the first two performance reviews after appointment at the new level, they will return to the level occupied immediately prior to their appointment in the new category.
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.
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 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, and equity, including overseeing project implementation and administration and managing client relationships. PSPM is currently composed of Infrastructure and Financial Institutions teams.
PSOD provides investment capital to private sector entrepreneurs, corporates and project sponsors, as well as financial intermediaries, such as banks, throughout developing Asia. It catalyzes, structure, and fund investments in privately held and state-sponsored companies across a wide range of industry sectors. Its 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 and guarantee transactions. To learn more about PSOD, watch this video.
To view ADB Organizational Chart, please click here.
The Associate Investment Officer works alongside dealing officers from both origination, (while the transaction is signed and closed) and portfolio teams. The position is responsible for all risk and client relationship aspects of assigned transactions from first disbursement to final repayment and works with borrowers, multiple PSOD staff and a wide range of internal and external stakeholders.
Geographic and transaction focus: A large part of the portfolio to be covered will be in lending to infrastructure and project finance in Central and West Asia with a large share of power transactions; followed by corporate finance (health care, agribusiness, others) and will require travel to ADB developing member countries (DMCs). The staff will report to the designated PSPM International Staff (IS) on substantive technical, policy-related and operational aspects. The incumbent will report to designated PSPM international staff, and may supervise administrative staff.
a. Credit monitoring
• undertakes the preparation of credit monitoring reports (annual, semiannual or quarterly);
• analyzes client financial data, problems and remedial actions, and performing valuation of equity based on standard financial models;
• works with dealing officers regarding warning signals or potential problems in transactions and design and coordinating remedial action; and
• participates in missions related to monitoring of projects.
b. Project monitoring
• ensures adherence by clients to their obligations for submission to ADB of periodic reports on time and accurately and make follow-ups;
• undertakes communication with clients in case of covenant breaches or unexpected developments in a transaction;
• works with clients and other PSPM staff to design remedial measures (waivers, demand letters, others) and implement them jointly with other ADB departments (Office of Risk Management, Office of the General Counsel, Treasury Department, Controller’s Department and others);
• monitors the development effectiveness parameters and environmental and social management system compliance of transactions for compilation in PSOD’s Development Effectiveness Report;
• implements technical advisory programs arranged for clients or projects; and
• supports client-relationship management and participates in face to face meetings and/or business trips.
• ensures processing of disbursement requests, review of withdrawal applications, verification of compliance with disbursement conditions and/or loan covenants, follow up on submission of required documents and review of their completeness and/or validity;
• prepares correspondence, and re-estimates project costs and ADB's share of financing commitments;
• ensures the development of disbursement projections, actual disbursements, and tracking of shortfalls and identify the underlying causes of such shortfalls.
d. Database maintenance
• ensures completeness of database of legal documentation, financing and security documents and project contracts for new project approvals, as well as completeness of documents created in PSPM post-origination; and
• supports the creation and maintenance of project related databases, tracking portfolio size, composition, and other characteristics, for management information.
e. Project Annual Reviews and Project Completion Reports
• performs desk review, collects data, assesses financial and developmental performance of projects, conducts interviews and participates in missions to evaluate projects for extended annual review reports (XARR); and
• prepares XARRs jointly with PSOD staff or consultants
f. Administrative and Planning Support
• participates in the planning of various initiatives designed to facilitate PSPM's interaction with other ADB departments and in the development of systems and procedures to facilitate liaison and contact with partner institutions; and
• coordinates the preparation of inputs for the annual work program and/or budget and assist with finalization of PSPM's submissions related to ADB's annual planning and budget exercises and mid-year reviews of annual budgets.
Relevant Experience & Requirements
• Bachelor's degree in finance, business or related fields, preferably with Master’s degree or equivalent
• At least 6 years of relevant work experience, with at least 4 years in supervisory capacity, in credit risk analysis, credit department work, and credit lending in financial institutions, preferably with a leading international financial institution, investment bank, infrastructure fund or consultancy firm; experience in project finance, infrastructure finance or corporate finance will be an added advantage;
• Strong credit analysis and financial skills, including financial modeling, in multiple financial products including loans, guarantees, and project finance.
• Excellent understanding of finance business principles and strong skills in client management.
• Strong analytical thinking skills, with ability to comprehend causal links, make pros-and-cons analysis, and analyze factors to reach a decision.
• Ability to independently identify tasks and priorities within the area of responsibility and to formulate and execute plans for the completion of such tasks.
• Proven ability to undertake research and analysis on difficult tasks.
• Ability to collect and organize required data and information, apply appropriate computer skills in analyzing and organizing the data, and prepare notes, papers and detailed, reports.
• Skills and confidence required to conduct discussions and negotiations with clients with limited supervision.
• Ability to work with teams in a multicultural setting and guide junior staff to facilitate work planning, delivery and quality review
• Excellent written and verbal communication skills in English
• Please refer to the link for ADB Competency Framework for National Staff Levels 1.
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.
The position is a local staff position with local remuneration package. It is open to persons who are both nationals and residents of the Philippines.
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.