WARNING AGAINST FRAUDULENT USE OF THE AFRICAN DEVELOPMENT BANK’S (AfDB) NAME Read more
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) 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 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 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 :
The Principal Treasury Risk Officer has responsibly to :
Under the supervision of the Division Manager – Treasury Risk Management the Principal Treasury Risk Officer will perform the following:
Manage market and counterparty credit risks of the Treasury Operations
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. Review the terms of new funding proposals received by counterparties. Ensure that the Bank has the internal capacity to fair value new borrowing transactions;
4. Advise on the financial terms of local currency and rate fixing loan swaps proposals;
5. Review credit support annexes of International Swaps and Derivatives Association (ISDA) agreements and the terms of risk mitigation techniques related to exposure netting with counterparties and collateral posting;
6. Produce quarterly financial risks analysis for Asset and Liability Committee (ALCO), Financial Control Department and Treasury Risk Division Management. That includes but is not limited to:
a. International Financial Reporting Standards (IFRS) Investments Level classification including liquidity and variance analysis;
b. Impairment tests on Treasury Investments Held at Amortized Cost to monitor needs for provisions in case of substantial changes in issuers credit quality;
c. Cross exposures to both lending and treasury obligors to monitor wrong way risks for the Bank.
7. Deliver key risk management inputs to the Group Chief Risk Officer Departments. That includes but is not limited to perform recurrent analysis and compute advanced risk indicators for:
a. The quarterly Bank Capital Adequacy related to Treasury Operations;
b. The annual Market Risk Review for the Board;
c. The annual Rating Review Presentation to the rating agencies;
d. The Risk Dashboard for the Management and the Board.
8. Perform other ad-hoc analysis and risk reports on treasury related market and credit risk measures.
Supervise treasury reporting and risk control activities
9. Review monthly reports on treasury investment management, liability management, counterparty exposures and compliance for Asset and Liability Management Committee (ALCO) and perform related verifications on the integrity of market and credit data input;
10. Provide third level support and guidance on treasury portfolios valuations, daily and weekly reporting issues as well as on transactions risk control and processing problems;
11. Control the quality of inputs to treasury compliance reports for distribution to the Board;
12. Monitor approved lists of International Swaps and Derivatives Association (ISDA) and International Securities Market Association (ISMA) agreements, depository banks, brokers and futures counterparties;
Coordinate proposals for reforms on guidelines and procedures
13. Elaborate and formulate policy proposals for amendments of Asset and Liability Management guidelines when necessary;
14. Coordinate the implementation of internal and external audit recommendations;
15. Review and collect inputs on treasury risk management operational procedures, propose new controls and optimized processes to reduce operational risk and to ensure compliance to standards;
16. Organize the update of procedures manuals.
Lead the implementation of risk measurement framework improvement
17. Design systems and procedures for the improvement of treasury risk analytics and measurement framework;
18. Team up with Treasury Risk Information Technology Officers to develop new reports, dashboards and controls as well as decision support tools that improve the efficiency of treasury activities and related market and counterparty credit risk management activities. That includes to produce or oversee the specifications for functionalities that need to be built, to perform or organize the functional tests and to train staffs after implementation;
19. Monitor evolving treasury systems data requirement, participate as a business/functional expert to the migrations to new versions;
20. Keep abreast of evolutions on International Financial Reporting Standards (IFRS) and conduct the implementation of necessary developments to ensure compliance to standards;
21. Keep abreast of new methodologies on market and counterparty credit risks best practices, and conduct the implementation of needed measures and required evolutions;
22. Produce presentations on new or updated risk measurement methodologies to treasury risk and treasury officers, and sometimes to peers in other MDBs OR ALCO.
Serve as a focal point for Treasury Risk expertise
23. Advise and support on treasury market and counterparty credit risk issues to build risk awareness within the finance complex;
24. Provide treasury risk inputs to documents prepared by other departments of the complex;
25. Lead Treasury Risk views in Asset and Liability Working Groups related to Interest Rate Risk, Projections, Financial Products and/or Currency Risk Management;
26. Represent Treasury Risk Management Division in cross-departmental ad-hoc task forces for various studies;
27. 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.
Including desirable skills, knowledge and experience
1. Hold at least a Master’s degree in Business Administration, Finance, Banking, Economics or related discipline.
2. Have a minimum of Six (06) years of relevant experience in International Financial Institutions or Investment Banks, with a large scope of treasury or fixed income activities.
3. Professional certification in Risk and/or Finance like Financial Risk Manager (FRM), Professional Risk Manager (PRM), Chartered Financial Analyst (CFA), Certificate in Quantitative Finance (CQF) is considered as an asset.
4. Working experience in Fixed Income and Derivatives front-office, middle-office or risk management departments.
5. Working experience in the implementation of Treasury credit monitoring and portfolio management systems used by Investment Banks and Multilateral Development Banks.
6. Finance and risk management technical acumen with effective consulting and advisory skills
7. Analytical and numerical skills with a good eye for detail
8. Ability to cope under pressure with strong planning and organization skills
9. Arbitration skills and ability to influence people
10. Demonstrated knowledge and experience of financial and/or risk reporting
11. Good communication and presentation skills with ability to adjust technical language in an appropriate way for different audiences
12. Demonstrated knowledge and experience in driving market and credit risks complex projects
13. Experience in using financial applications like Summit, Bloomberg, Reuters, Numerix or MSCI Credit Manager
14. Knowledge of light programming or database languages like Excel VBA, SQL or C++
15. Ability to communicate effectively (written and oral) in English or French preferably with a working knowledge of the other.
16. Competence in the use of standard MS office applications (Word, Excel, Access, and PowerPoint) and SAP.
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.