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 :
As part of the Treasury Risk Management Division, the Treasury Risk Assistant will be primarily responsible for producing key inputs to Treasury activities, performing first level independent controls on treasury transactions compliance with Asset and Liability Management guidelines and maintaining up-to-date market and credit data referential in the Bank Treasury systems.
Under the supervision of the Division Manager – Treasury Risk Management the Treasury Risk Assistant will perform the following:
1. Update market data and marked-to-market valuations related to Investment and liability activities
- Load daily Market Data and rates fixings levels in Treasury Systems, and, advise daily on market data loading status after validation by Treasury Risk Officers;
- Obtain quotations from counterparties for securities and transactions for which no market quotes are available;
- Ensure the reliability of market data loaded in Treasury systems on a daily basis for valuations and analyze significant variances from previous days;
- Run Investment and Borrowing Derivatives Portfolios valuations in Treasury Systems.
- Analyze daily gaps and develop first level explanation to substantial moves;
- Ensure that the valuation of positions and securities complies with established procedures and report exceptions;
- Produce daily reports on derivatives and investment valuations.
2. Control, process, support and monitor Treasury Activities
– Ensure compliance with guidelines for all new transactions entered by the Treasury Department;
– When required, define in Treasury systems the financial instruments traded;
– Discuss the valuation source for illiquid and moderately liquid transactions or securities with front office staff in consultation with Treasury Risk officers;
– Update events on trades lifecycle and fixed income securities in the system when required by Back-Office;
– Investigate first level issues on payments, debt service and valuation. Provide timely feedbacks to Back-Office or escalate persistent issues to officers in charge.
3. Produce analytical inputs and reports on treasury activities and risk
4. Maintain up-to-date credit data on counterparties, monitor and alert on compliance breaches with guidelines and policies
5. Assist in the improvement and optimization of treasury risk management and control framework
Including desirable skills, knowledge and experience
1. Hold at least a Bachelor’s degree in Business Administration, Finance, Banking, or related discipline.
2. Have a minimum of five (05) years of relevant experience working in International Financial Institutions or Investment Banks, with a large scope of treasury or fixed income activities.
3. Professional Certification in fixed income or capital markets, securities operations or in risk management is desirable
4. Attention to details with the aptitude to follow procedures with minimal error rate
5. Commitment to organize workload efficiently in order to deliver quality reports and financial data inputs while respecting incompressible deadlines
6. Ability to anticipate potential delays and raise alert when necessary to Treasury Risk Officers
7. Ability to analyze and translate Financial market and credit data
8. Ability to find existing information in procedures, guidelines, policies and data providers
9. Experience of using Summit, Bloomberg, Reuters, Trioptima and/or Numerix
10. Private sector experience is advantageous
11. Innovation & Creativity
13. Client Orientation
14. Problem Solving
15. Team working and relationships
16. Operational Effectiveness
17. Ability to communicate effectively (written and oral) in English or French preferably with a working knowledge of the other.
18. Competence in the use of standard MS office applications (Word, Excel, Access, and PowerPoint) and SAP.
THIS POSITION DOES NOT ATTRACT INTERNATIONAL TERMS AND CONDITIONS (THE POST HOLDER WILL BE CONSIDERED AS A LOCAL STAFF AND WILL NOT HAVE 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.