Principal Financial Sector Specialist
Job Vacancy | Thursday, September 23, 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).
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 Public Management, Financial Sector, & Trade Division (SEPF) within the Southeast Asia Department (SERD). SERD is responsible for maintaining client relations and delivering ADB assistance to countries in the Southeast Asian region. SEPF is responsible for policy development and dialogue, knowledge management, project quality assurance, sector analytic work, and loan and technical assistance processing and administration in the public management, financial sector, and trade sectors.
To view ADB Organizational Chart, please click here.
The Principal Financial Sector Specialist is expected to oversee the formulation and articulation of financial sector policy and strategies, engaging Developing Member Country (DMC) governments in policy dialogue, and conducting ADB’s activities to support financial sector policy and reforms. His/her scope of work includes the following: banking sector, non-bank financial institutions, contractual savings, capital markets, financial infrastructure, financial governance, project finance and public-private partnerships. He/she will also assist the Director in overseeing a variety of complex workstreams and help respond to strategic initiatives across the Bank, and coordinate on operational reviews and assessments to ensure their quality. The incumbent will report to Director, SEPF and may supervise National and Administrative staff.
• Oversees the development of strategies for the financial sector in DMCs, covering areas such as banking sector, non-bank financial institutions, contractual savings, capital markets, financial infrastructure, financial governance, project finance and public-private partnerships, among others, in consultation with relevant government agencies and Resident Missions (RMs) within the region.
• Proposes, develops, oversees and supervises innovative loan and TA projects in financial sector and related operations on private sector development, in any regional DMC, with high levels of risk and complexity, and multiple stakeholders.
• Leads work to explore global best practices and new innovations in the financial sector, particularly in financial regulation, and capital market and contractual savings reforms.
• Coordinates across the Bank to help the department and division achieve a “one ADB” approach to incorporating global best practices and new innovations in financial sector development and financial stability to promote a better investment climate, economic growth and reduced income inequality in DMCs.
• Supports the division and department to maintain quality assurance and compliance of lending and non-lending products and operations across the financial sector.
• Supports the division and the department to interface, coordinate and respond to other departments in the Bank with regard to the historical perspective of ADB engagements, operational reviews and evaluations, strategic support and procedural issues, and coordination of development activities.
• Maintains communications with and represents the division and department as appropriate in meetings with senior level government staff within the financial sector in the region’s DMC’s.
• Participates in external conferences and events and serves as a liaison to industry standard setting bodies such as ICMA and ISDA.
• Provides coaching and mentoring to team and individuals within the division, and across the department as necessary to ensure their on-going learning and development.
• Supervises the performance of assigned team members providing clear direction and regular monitoring and feedback on performance.
• Supports the Director in portfolio and program management of the division.
Relevant Experience & Requirements
• Master's Degree, or equivalent, in Finance, Commerce, Economics, or related fields. Alternatively, university degree and at least 5 years specialized experience relevant to the position can be considered.
• At least 12 years of relevant professional experience in financial sector development reforms such as banking supervision and reforms, nonbank financial institution reforms, treasury operations, capital market development and contractual savings reforms.
• Experience in the development of financial sectors in developing economies covering areas such as banking reform, nonbank financial sector reforms, capital market development and contractual savings reforms is a significant advantage.
• Experience in financial sector projects in the operations of multilateral development organizations, with demonstrated experience in project design and administration is an advantage. Experience in the following countries is particularly encouraged: Philippines, Indonesia, Viet Nam, Cambodia and Myanmar.
• Experience in private sector development, public-private partnership (PPP) and non-sovereign operations (NSO) is an advantage.
• Ability to steer ideas and projects to improve linkages between financial sector development, investment climate and financial inclusion is preferred.
• Experience in managing teams and mentoring junior staff is required.
• Ability to coach team members to develop their capabilities/potential is required.
• Excellent oral and written communication skills in English.
• Please refer to the link for ADB Competency Framework for International Staff IS6.
The selected candidate, if new to ADB, 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.