Senior Financial Market Specialist (Climate Financing)

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. 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 Finance Sector Group under the Sector Advisory Service Cluster of the Sustainable Development and Climate Change Department (SDCC). SDCC provides leadership, innovation, and knowledge sharing for ADB’s sector and thematic work. The Finance Sector Group supports (i) finance sector development through initiatives to develop deep and liquid financial markets and enhance financial stability; (ii) financial inclusion by promoting savings, investments, insurance, and initiatives aimed at empowering micro, small and medium sized enterprises and women; and (iii) infrastructure finance by crowding in private sector investment, economic diversification, management of risk, and integrating initiatives that contribute to disaster risk management and climate change adaptation and mitigation.

To view ADB Organizational Chart, please click here.

Job Purpose

The Senior Financial Market Specialist (Climate Financing) will support finance sector operations in contributing to ADB’s climate goals in line with the Paris Agreement following the 6 building blocks: (i) alignment with mitigation goals; (ii) adaptation and climate-resilient operations; (iii) accelerated contribution to the transition through climate finance; (iv) strategy, engagement and policy development; (v) reporting; and (vi) aligning internal activities, including facilities and other internal policies. He/she will provide strategic advice on sustainable finance issues including climate finance policy framework and capital market instruments for operations, innovative financing models, regulatory capital, and the development of resilient financial markets. He/She will have a solid finance background and will lead in developing, implementing, and advising transactions using innovative financing approaches to help catalyze the investments required for supporting ADB operations in climate mitigation and adaptation in the region. The incumbent will have a primary report to the Chief of Finance Sector Group and a secondary report to Chief of Climate Change and Disaster Risk Management Thematic Group, concurrently Director of Sustainable Development Climate Change and Disaster Risk Management Division. He/she will supervise national and administrative staff.

Responsibilities

a. Operational Advice and Support
• Represent Finance Sector Group in meetings and consultations pertaining to climate financing and related infrastructure finance with ADB stakeholders including government counterparts and actively contribute new and/or innovative approaches to policy and operational issues;
• Conduct technical reviews on design and implementation of ADB’s investments on climate finance and quality infrastructure including within the quality infrastructure investment framework and advise operations departments in developing financial policy framework and market instruments and innovative financing solutions to support climate finance;
• Provide policy advisory support to operations departments in scaling up climate financing at the country level, including engagement with government and the private sector;
• Provide expertise related to infrastructure finance including on the development of legal, regulatory and institutional frameworks and financing structure;
• Support operations departments and resident missions in program development at the country level to apply innovative financing approaches and to deliver quality support to developing member countries (DMCs) in climate financing;
• Collaborate with the Climate Change and Disaster Risk Management Thematic Group in initiating measures to create market incentives towards greening of our economies including aligning regulatory capital initiatives to support decarbonization of economies across Asia and the Pacific;
• Develop models of wholesale climate infrastructure financing through ADB’s financial instruments including financial intermediary loans consistent with standard methodologies;
• Explore new approaches for ADB to catalyze funding for green and climate friendly financial systems in ADB DMCs in line with the Paris Agreement;
• Collaborate with Climate Change and Disaster Risk Management Thematic Group to develop synergy and cross fertilization on new initiatives to mobilize funding for climate change;
• Collaborate with Treasury Department in designing and developing climate bonds, infrastructure bonds, other sustainable bond instruments and thematic bonds;
• Support Climate Change and Disaster Risk Management Thematic Group in contributing towards innovative work including the Task Force on Climate related Financial Disclosures across DMCs;
• Support ADB DMCs in the development of market infrastructure and ecosystems to boost both supply and demand for sustainable finance including banking and capital market regulation and market development by reconciling impact disclosures and management principles and strengthening market regulation and legal framework;
• Work closely with the Finance Sector Committee to oversee the capacity development within ADB and DMCs on integrating climate elements to finance sector operations; and
• Ensure proper coordination with other sector and thematic groups, Economics and Research and Regional Cooperation Department, Treasury Department and other relevant departments for exchange of knowledge and experiences.

b. Knowledge Management and Collaboration with External Partners
• Publish knowledge products and blogs on issues and challenges faced by finance sector in climate finance as well as innovative approaches to address them;
• Support in capacity development of ADB staff and DMCs on matters related to climate infrastructure finance in collaboration with the Climate Change and Disaster Risk Management Thematic Group;
• Participate in activities undertaken by ADB with multilateral development banks and other international institutions in the area of climate finance in coordination with the Climate Change and Disaster Risk Management Thematic Group;
• Contribute to the preparation of briefing notes, speeches and other documentation as required to support management participation in regional and global platforms related to sustainable development goal finance.

Qualifications

Relevant Experience & Requirements

• Master’s degree in economics, finance, business administration, actuarial science or related fields. University degree in business administration, finance, economics, or other related fields, combined with specialized experience in similar organization/s, may be considered in lieu of a Master’s degree.
• Minimum of 10 years of relevant professional experience including international work experience in sustainable and infrastructure finance operational work including climate finance.
• Strong understanding of infrastructure policies, strategies and institutions, and how they are best designed to deliver services in a sustainable manner, and comprehensive knowledge of at least one sector.
• Excellent written and verbal communication skills in English are required.
• International experience working in development in several countries.
• Act as a mission leader or team lead, exercising supervision, coordination, and planning responsibilities over a multidisciplinary team/unit.
• Act as mentor to team members, providing guidance and advice on project or technical-related matters.
• Proven ability to work independently and to operate effectively in a team environment.
• Ability to set priorities among multiple assigned tasks.
• Please refer to the link for ADB Competency Framework for IS5

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.