WARNING AGAINST FRAUDULENT USE OF THE AFRICAN DEVELOPMENT BANK’S (AfDB) NAME Read more
Established in 1964, the African Development Bank (AfDB) 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, 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 Vice Presidency for Finance (FIVP) oversees the financial management of the Bank Group. This encompasses the Bank Group’s treasury activities including borrowings from the capital markets and investment activities; controllership functions including financial reporting and loan administration; strategic resource mobilization and the strengthening of the non-statutory financial resources and instruments; the overall asset/liability management for the Bank Group. The Vice Presidency for Finance is also responsible for the development of and training on the financial products of the Bank Group. In addition, the Administrator of the Staff Retirement Plan (SRP) reports to the Vice-President Finance
THE HIRING DEPARTMENT/DIVISION:
The overall objective of the Financial Management Department (FIFM) is to safeguard and improve the Bank Group’s risk bearing capacity while looking to optimize efficiency to benefit clients, shareholders and staff.
The role of the Treasury Risk Management Division (FIFM2) is the management of treasury risk and the oversight of treasury activities that enable the Bank to make informed treasury investment and borrowing decisions with adequate and manageable hedging mechanisms. The Division’s objectives are to :
The Chief Treasury Risk Officer has responsibly to :
The Chief Treasury Risk Officer will:
1- Monitor the market and credit exposure of treasury investment and liability portfolios and produce ad-hoc reports in case of changes in market conditions or counterparty credit quality that may affect treasury operations;
2- Monitor and advise on limits for credit risk exposure concentration by credit rating categories and types of counterparties;
3- Supervise other ad-hoc analysis and risk reports on treasury related market and credit risk measures.
4- Supervise the review, analysis and approval process of treasury transactions by ensuring that only transactions which comply with ALM guideline are executed by the treasury department.
5- Lead the analysis of new products by formulating recommendations on pricing methodologies, as well as risk measurement and risk mitigation strategies;
6- Lead the relationship with the Legal department (PGCL) for the negotiation and review of International Swaps and Derivatives Association (ISDA)/Credit Support Annexes (CSA) agreements by monitoring outstanding legal issues;
7- Lead the views of the Treasury Risk Division in some ALCO working groups.
8- Ensure the timely production of reports monitoring investment, borrowing and counterparty risk management for Staff, Management, the Financial Control Department (FIFM) and the Asset and Liability Management Committee (ALCO);
9- Provide the Financial Control Department (FIFM) department with borrowings and derivatives valuations as well as the Hedge effectiveness reports for liability and loan portfolio, and other input on treasury activities for the Bank financial statements and annual report;
10- Supervise the production of specific reporting under International Financial Reporting Standards (IFRS) such as Borrowing Level classification and maturity structure, and CVA/DVA;
11- Analyze the impact of developments on IFRS standards on the financial reporting of treasury activities;
12- Ensure the accuracy of investment, liability and derivatives valuations, and keep abreast of valuation methodologies and market practice.
13- Advise and support on treasury market and counterparty credit risk issues to build risk awareness within the finance complex;
14- Provide treasury risk inputs to documents prepared by other departments of the complex;
15- Lead Treasury Risk views in Asset and Liability Working Groups related to Interest Rate Risk, Projections, Financial Products and/or Currency Risk Management;
16- Represent Treasury Risk Management Division in cross-departmental ad-hoc task forces for various studies;
17- Establish contacts with major MDBs in treasury risk area to benchmark practices and/or to prepare or contribute to papers for presentation at internal working groups, committees, or external international risk forums.
18- Supervise the design of an efficient control framework and decision support tools in order to ensure that risks related to treasury investment and borrowing activities are properly monitored and reported;
19- Lead discussion with the Bank Group Operational Risk Unit during the annual review of COSO framework and ensure the compliance of treasury activities with internal guidelines and processes;
20- Supervise the design and update of the procedure manuals for the division activities;
21- Provide guidance on the acquisition of treasury systems and modules as well as market data providers to improve the analytical capabilities of the division.
22- Lead the discussion with external and internal auditors during the year-end audit of the treasury activities;
23- Ensure that required documentations are accurate and provided on time;
24- Supervise the implementation of Audit recommendations.
25- Act as Business Continuity Plan (BCP) coordinator and ensure that necessary actions are taken to minimize disruption to treasury activities;
26- Coordinate the Budget preparation for the division.
Including desirable skills, knowledge and experience
14. Ability to communicate effectively (written and oral) in English or French with a good working knowledge of the other language.
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.