- Position title: Director, Financial Management
- Grade: EL5
- Position N°: NA
- Reference: No ADB/16/105
- Publication date: 20/10/2016
- Closing date: 10/11/2016
- 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, 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 Bank is seeking to build a management team that will lead the successful implementation of this vision.
The Vice Presidency for Finance (FNVP) 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 roles of the Financial Management Department (FFMA) are to develop and promulgate policies and guidelines relating to financial and financial risk management for the Bank Group. It also ensures internal consistency of all financial policies and guidelines, including those initiated and developed by the other Departments in the Finance Complex, as well as monitors and reports on compliance.
The position of Director FFMA which reports to the Vice President FNVP, is key to ensuring the overall effectiveness of the financial management of the Bank Group, in particular through the Bank’s Income Model, Asset and Liability Management (ALM) policies and the monitoring and reporting thereof.
Duties and responsibilities
The Director shall lead a team of high calibre professionals responsible for the formulation of financials, financial risk and ALM policies of the Bank Group and for monitoring the proper functioning and application of such policies and related practices and business processes.
Under the general supervision of the Vice President, the duties and responsibilities include the following:
1. Formulate and review all policies pertaining to the management of the assets and liabilities and related credit, liquidity, market and operational risks of the Bank Group.
2. Provide regular and timely feedback and advice to Senior Management and the Boards of Directors regarding the functioning of these policies;
3. Participate in the formulation and recommendation of appropriate instruments and strategies, and related guidelines for approval by the Board;
4. Liaise with counterparts at other institutions, particularly MDB’s, to exchange ideas on financial policies, asset management approaches and risk management methodologies, or to explain policies to the financial community as well as the rating agencies;
5. Analyze the impact of policy changes on the financial position of the Bank.
6. Supervise the implementation of asset and liability management activities to optimize asset allocation, ensure proper application of guidelines, reduce costs of borrowing, and control risk;
7. Coordinate all interactions with relevant international rating agencies;
8. Advise and participate in the shareholder capital increases of the Bank and member replenishments of the Fund;
9. Develop work programs of the Department and related budgets;
10. Supervise the work of the Division Managers and evaluate their performance;
11. Provide strategic leadership and vision on the risk management culture of the Bank Group;
12. Develop capacity building programs for investment officers and African Central Banks.
Including desirable skills, knowledge and experience
1. Hold at least a Master’s degree in Finance, Business Administration, Economics or related fields.
2. Have a minimum of ten (10) years of relevant professional experience with heavy emphasis in the areas of ALM and Financial Risk Management, including 5 years at a managerial level.
3. Should be able to use financial knowledge to ensure optimal utilization of financial resources;
4. Strong communication skills in English or French; ability to communicate in both languages a plus;
5. Proven excellence in presenting and effectively communicating complex financial and risk management concepts or models to a non-technical audience;
6. Competence in the use of standard software used in the Bank such as Word, Excel, Access and Power Point, knowledge of SAP highly desirable.
To apply for this position, you need to be national of one of AfDB member countries.