Investment Specialist

IMPORTANT INFORMATION:

Close relatives¹ of ADB staff, except spouses of international staff, are not eligible for recruitment and appointment to staff positions. Applicants are expected to disclose if they have any relative/s by consanguinity/blood, by adoption and/or by affinity/marriage presently employed in ADB.

¹Close relatives refer to spouse, children, mother, father, brother and sister, niece, nephew, aunt and uncle

Staff on probation are not eligible to apply. Applicants for promotion must have served at their position for at least one year and must have normally served at their personal level for at least two years immediately preceding the date of the vacancy closing date. Applicants for lateral transfer must have served at their position and personal level for at least one year immediately preceding the date of the vacancy closing date (reference A.O. 2.03, paragraphs 5.8 and 5.9).

In the event that the staff appointed to a new category (i.e. from AS to NS, or from NS to IS) is rated at 2 or lower in the first two performance reviews after appointment at the new level, they will return to the level occupied immediately prior to their appointment in the new category.

This is a special fixed-term appointment for a period of three (3) years following Section 3.1 (c.) of Administrative Order No. 2.01 (“Recruitment and Appointment’). This appointment is not convertible to a regular appointment. It may be extended on exceptional basis for a further fixed period at the option of ADB if the position continues to be required under the Australian Climate Finance Partnership (ACFP) fund. This position is coterminous with the ACFP fund. This appointment is open to internal and external applicants.

If the successful candidate is an ADB staff member holding a regular appointment, his/her regular appointment will be converted to a special fixed-term appointment. A special fixed-term appointment will automatically and without prior notice expire at the end of the term.

Overview

Asian Development Bank (ADB) is an international development finance institution headquartered in Manila, Philippines and is composed of 68 members, 49 of which are from the Asia and Pacific region. ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. ADB combines finance, knowledge, and partnerships to fulfill its expanded vision under its Strategy 2030.

ADB only hires nationals of its 68 members.

The position is assigned in the Portfolio Management Division (PSPM) within the Private Sector Operations Department (PSOD). PSPM is accountable for the pro-active management, reporting and review of ADB’s growing portfolio of private sector loan, equity and guarantee transactions, including managing client relationships.

PSOD provides investment capital to private sector entrepreneurs, corporates and project sponsors, as well as financial intermediaries, such as banks, throughout developing Asia. It catalyzes, structures, and funds investments in privately held and state-sponsored companies across a wide range of industry sectors. Its emphasis is on commercially viable transactions that generate financial returns while also delivering on ADB’s organization-wide mission to promote environmentally sustainable and inclusive economic growth. To learn more about PSOD, watch this video.

To view ADB Organizational Chart, please click here.

Job Purpose

The Investment Specialist will be working directly with clients, taking responsibility for a number of designated accounts within PSPM’s overall portfolio of debt, guarantees and other investments in infrastructure projects, corporates, and financial institutions in developing Asia. The role holder will contribute to the build-out and development of a “best in class” asset and portfolio management function. The role holder will report to Director, PSPM and will supervise national and administrative staff.

Responsibilities

a. Management of Key Accounts
• Assumes primary account responsibility and relationship responsibility for assigned key accounts;
• Reviews and/or approves covenant compliance reports, waivers and amendments, annual reviews, ratings, and other documents in connection with primary or secondary account relationships; and

b. Portfolio Management
• Oversees the monitoring of the financial health and development impact of the portfolio, ensuring that key issues like portfolio and prudential exposure limits are considered and strategic objectives are attained;
• Monitors periodic review and progress reporting of project implementation, compliance with financial covenants, compliance with environmental and social safeguards standards;
• Monitors payment of fees, loan servicing, receipt of income/dividends from equity investment and equity divestment;
• Monitors the tools being used for financial analysis, risk evaluation and review, and measures to mitigate the identified risks;
• Monitors PSOD’s portfolio in terms of composition, size, quality, concentration risk, diversification, credit quality migration, valuation movements, and other criteria;
• Ensures quality and consistency of reports and outgoing communications related to portfolio management;
• Contributes to active portfolio management through execution of risk defeasance strategies which include sell down, hedging, and other exit management measures;
• Assesses the impact of prospective new financings on existing portfolio;
• Oversees the quality of project records management system in ADB’s online document management system or other equivalent systems; and
• Identifies emerging risks and project implementation problems and leading the identification of action plans to mitigate against such risks and may be involved in restructuring, or workout activities.

c. Strategy and Planning
• Prepares and monitors annual portfolio management plans;
• Leads and oversees the development of a sound portfolio management strategy;
• Designs tools, instruments and models to optimize PSOD’s portfolio or a specific component of the portfolio, and executing its optimization strategy effectively; and
• Leads, supervises and participates in a number of initiatives and change projects.

d. Knowledge Center for Governance, Risk Advisory, and Development Impact
• Leads and oversees the coordination and expansion of existing and future programs introducing international best practices at investee companies with regard to corporate governance, credit procedures, risk management, internal controls, and other initiatives;
• Measures expected development, environmental and social safeguard outcomes in existing and proposed interventions in close liaison with the Private Sector Transaction Support team (PSTS); and
• Leads and manages the portfolio review, credit reviews and extended annual review reports (XARRs) of the portfolio.

e. External Liaison and Knowledge Sharing
• Facilitates active relationships with financial intermediaries in the region, institutional investors and other commercial partners;
• Maintains and shares knowledge of emerging best practices in project/corporate financing, corporate social responsibility, and overall investment management;
• Develops and maintains relationships with the key business and political leaders in developing Asia; and,
• Analyses and reports on market and investment trends.

f. Staff Supervision
• Creates and leads multidisciplinary teams and ensure the overall quality of work;
• Supervises the performance of teams and individuals providing clear direction and regular monitoring and feedback on performance; and
• Provides coaching and mentoring to team and individuals and ensure their ongoing learning and development.

Qualifications

Relevant Experience & Requirements

• University Degree, in business administration, finance, or related fields; preferably at post-graduate level or equivalent; University degree combined with specialized experience in similar organization/s is an advantage
• At least 6 years work experience preferably in commercial financial institutions, including hands-on experience in project administration as well as experience in structuring and processing loans, guarantees and other debt instruments for projects, corporates and financial institutions, analyzing credit risks, syndicating financial transactions, and related banking activities
• Good understanding of how to conduct advanced credit analysis in respect of one or all of project and corporate finance transactions, financial institutions; a deep understanding of debt markets and products
• Experience in risk management, including rating methodologies, risk categories (market risk, credit risk, operational risk), etc.
• Extensive knowledge and understanding of loan, investment and credit products, including underwriting, pricing, servicing, accounting, exiting, etc. and with particular experience in developing markets
• Ability to lead negotiations with borrowers, existing and prospective shareholders, sponsors, co-lenders and co-investors
• Experience in dealing with distressed assets will be an advantage
• Strong analytical and structuring capabilities
• Ability to multi task
• Excellent oral and written communication skills in English, in particular strong ability in business writing
• International experience working in development in several countries
• Please refer to the link for ADB Competency Framework for International Staff Levels IS3 to IS4.

General Considerations

The selected candidate, if new to ADB, is appointed for an initial term of 3 years.

ADB offers competitive remuneration and a comprehensive benefits package. Actual appointment salary will be based on ADB’s standards and computation, taking into account the selected individual’s qualifications and experience.

ADB seeks to ensure that everyone is treated with respect and given equal opportunities to work in an inclusive environment. ADB encourages all qualified candidates to apply regardless of their racial, ethnic, religious and cultural background, gender, sexual orientation or disabilities. Women are highly encouraged to apply.

Please note that the actual level and salary will be based on qualifications of the selected candidate.