- Position title: Chief Legal Counsel – Finance Division
- Grade: PL3
- Position N°: 50000661
- Reference: ADB/17/476
- Publication date: 07/11/2017
- Closing date: 21/11/2017
- Country: Côte d’Ivoire
Established in 1964, the African Development Bank is the premier pan-African development institution, promoting economic growth and social progress across the continent. There are 80 member states, including 54 in Africa (Regional Member Countries). The Bank’s development agenda is delivering the financial and technical support for transformative projects that will significantly reduce poverty through inclusive and sustainable economic growth. In order to sharply focus the objectives of the Ten Year Strategy (2013 – 2022) and ensure greater developmental impact, five major areas (High 5s), all of which will accelerate our delivery for Africa, have been identified for scaling up, namely; energy, agro-business, industrialization, integration and improving the quality of life for the people of Africa.
The President plans, supervises and manages the business of the Bank Group. Under the direction of the Boards of Directors, the President conducts the business of the Bank and the African Development Fund and manages operations and activities in accordance with the Agreements establishing the African Development Bank and the African Development Fund. The President supervises several Departments and Units including Office of the President (PRST0); Independent Development Evaluation Department (BDEV); Integrity and Anti-Corruption Department (PIAC); Compliance Review and Mediation Unit (BCRM); Secretariat to the Sanctions Appeals Board; Administrative Tribunal (BATR); Office of the Auditor General (PAGL); Group Risk Management Directorate; General Counsel and Legal Services Department (PGCL); Communication and External Relations Department; Staff Integrity and Ethics Office (PETH) and Office of the Secretary General & General Secretariat.
THE HIRING DEPARTMENT/DIVISION:
The role of the General Counsel and Legal Services Department (PGCL) is to provide legal support, legal advice and services to the Boards of the Bank Group, to the President, Vice Presidents, as well as the operational, financial and administrative Departments of the Bank. The role of the PGCL is also to protect the interest of the Bank from legal liability and, as necessary, to provide legal defence in cases filed against or brought by the Bank.
The Finance Division's main activities are to provide legal and advisory services in the mobilization, investment and management of the financial resources of the Bank.
The Chief Legal Counsel – Finance Division ensures the correct interpretation of, and compliance with the various policies, rules and regulations of the Bank in the mobilization, investment and management of the financial resources of the Bank.
Under the supervision and guidance of the Division Manager PGCL 3, the Chief Legal Counsel – Finance Division will:
- Attend Board of Directors meetings and Senior Management committees directly related to the functions of the incumbent and provide any legal clarifications or assistance that may be required;
- Ensure that the mobilization, investment and management of the Bank’s financial resources comply with applicable Bank rules and policies.
- Support and advise the Bank’s Treasury in the negotiation and drafting of documentation to effect Bank borrowings in the international capital and money markets, and draft or review all legal documents required for the implementation of the Bank‘s borrowing strategy and capital markets transactions.
- Prepare and review legal documentation for the Bank’s derivatives and other risk management transactions, negotiate relevant master agreements and draft and review individual transaction documents.
- Advise on the legal aspects of cash management, bank account agreements, anti-money laundering (know your customer) initiatives, and contracts for the custody or investment of the Bank’s financial resources.
- Draft and review legal documents concerning membership and subscription to the Bank’s capital, contributions to the African Development Fund and the creation of trust funds and special funds.
- Provide legal advice on the Bank Agreement, the General Authority on Asset and Liability Management, financial regulations, policies and rules and participate in the work of the Bank’s Asset and Liability Management Committee and its working groups.
- Issue legal opinions on regulatory, institutional and financial issues arising from the interpretation and application of the Charter of the Bank; draft legal documents relating to accession and participation in the Bank and the Fund; interpret and apply the Financial Regulations of the Bank.
- Prepare and review all necessary documentation for the Bank’s borrowings in the international capital and money markets.
- Review, update and recommend for approval standard documentation, in accordance with market and industry practice, for use in derivative transactions.
- Advise on contracts for the investment of liquid assets of the Bank and the African Development Fund.
- Review, revise and recommend for approval global clearing, custody, execution and repurchase agreements to facilitate the Bank’s investment and risk management transactions.
- Propose and design appropriate amendments to the Bank Agreement and other governing instruments, such as the Financial Regulations.
- Support and advice the Bank Group Chief Risk Officer and Asset-Liability Management Committee on the legal aspects of balance sheet optimization activities.
- Provide legal advice and assistance through the Division Manager to the Bank and its operating organs on all matters of finance, investments and reporting obligations to internal and external authorities.
- Assist the Division Manager in the selection of external counsel to represent the interests of the Bank.
- Provide legal advice on matters relating to investments and financial transactions of the Staff Retirement Plan.
- Handle certain legal issues of a complex and confidential nature in accordance with the instructions from the Division Manager or the General Counsel.
- Assist the Division Manager in the supervision and coaching of junior consultants, newly recruited counsel and other counsel, as directed.
- Undertake such other assignments as required in furtherance of the Department's mandate.
Including desirable skills, knowledge and experience
- Hold at least a Master's degree or its equivalent in Law, and admission to the Bar of one of the African Development Bank member countries; or a Juris Doctor (JD) and admission to the Bar of one of the African Development Bank member countries.
- A minimum of seven (7) years of relevant experience in similar jobs, preferably with a reputable international law firm, a legal department of a private or public entity, or an international financial institution with proven technical competence and experiences in international finance and banking practice.
- High level skills in communication and negotiation as well as the ability to build partnerships with a broad range of clients and deliver results that meet the needs of the Legal Service Department’s work program.
- Having private sector experience will be an added advantage.
- Seasoned knowledge in the current trend of development and familiarity with international law, and related matters within the Bank and other international organizations.
- Strong skills in preparation of complex legal documents including briefs and confidential legal opinions, preparing certificates, leading the negotiation of complex projects and programs and other transactions of a similar nature.
- Capacity to conceive and supervise the negotiation of complex legal documents of all types and form that balances the standards and norms of outside parties with the unique requirements of the Bank.
- Experience in applying legal knowledge to deliver the full scope of strategic legal services.
- Effective consulting and advisory skills that enable clients and help resolve their legal questions.
- Ability to work and deal with sensitive issues in a multi-cultural environment and to build effective working relations with colleagues.
11. Ability to communicate effectively (written and oral) in English and/or French, preferably with a working knowledge of the other.
THIS POSITION IS CLASSIFIED INTERNATIONAL STATUS AND ATTRACTS INTERNATIONAL TERMS AND CONDITIONS OF EMPLOYMENT.
Should you encounter technical difficulties in submitting your application, please send an email with a precise description of the issue and/or a screenshot showing the problem to: HR Direct HRDirect@AFDB.ORG
To apply for this position, you need to be national of one of AfDB member countries.
Applicants who fully meet the Bank's requirements and are considered for interview will be contacted. Only online applications submitted with a comprehensive Curriculum Vitae (CV) and copies of the required degrees will be considered. The President, AfDB, reserves the right to appoint a candidate at a lower level. The African Development Bank is an equal opportunities employer. Female candidates are strongly encouraged to apply. www.afdb.org
The African Development Bank Group (AfDB) does not ask for payments of any kind from applicants throughout the recruitment process (job application, CV review, interview meeting, and final processing of applications). In addition, the Bank does not request information on applicants’ bank accounts. The African Development Bank Group declines all responsibility for the fraudulent publications of job offers in its name or, in general, for the fraudulent use of its name in any way whatsoever.