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.

Special Fixed-Term/Sponsor-Funded

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 Leading Asia’s Private Infrastructure (LEAP) Fund. This position is coterminous with LEAP 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.

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. PSOD is looking for exceptional project and corporate financiers or developers able to identify, structure and close innovative, developmentally and financially robust debt, equity and guarantee transactions. To learn more about PSOD, watch this video.

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 portfolio of private sector loans and guarantees including managing client relationships. PSPM is currently composed of Infrastructure and Financial Institutions (FI) teams.

The specific role will be within the Private Sector Portfolio Management Division (PSPM) will focus on: delivering first line of defense portfolio coverage for financial institutions transactions in ADB’s developing member countries in East, Southeast and South Asia, ensuring the achievement of development effectiveness agenda of PSPM portfolio in relation to Development Effectiveness Forum, and executing dynamic portfolio management strategies necessary to address evolving risk profiles of obligors. A thorough understanding and experience in how to conduct credit analysis and structure around the risks of Emerging Market financial institutions transactions is essential. Understanding of credit risk distribution products is key.

To view ADB Organizational Chart, please click here.

Job Purpose

The Investment Specialist will be working directly with the FI team of PSPM, taking responsibility for the delivery of development effectiveness for assigned portfolio, execution of active portfolio management strategies including portfolio risk distribution as necessary, and the overall management of a designated portfolio of Financial Institution accounts in East, Southeast, and South Asia. In addition to these specific portfolio management functions, the Investment Specialist will be providing support in the quarterly Development Effectiveness Forum with the goal of providing a clear, accurate, forward-looking assessment of the development effectiveness status of the non-sovereign portfolio to the PSOD Management Team. The Investment Specialist shall also be required to support the quarterly Portfolio Exposure Management Committee which provides a comprehensive analysis of various portfolio issues and recommends approaches to proactively manage evolving portfolio risks. The position will contribute to the build-out and development of a “best in class” asset and portfolio management function. The position will report to Director, PSPM and will supervise national and administrative staff.

Responsibilities

a. Account Management
• Assumes primary account and relationship responsibilities for assigned key FI accounts in East, Southeast and South Asia region and other assigned DMC countries;
• Reviews, recommends and/or approves covenant compliance reports, waivers and amendments, monitoring reviews, ratings and other documents in connection with primary or secondary account relationships.

b. Portfolio Management
• Monitors the progress of project implementation, compliance with financial covenants, and compliance with environmental and social safeguard standards;
• Ensures annual Integrity Due Diligence of projects, sponsors, obligors, and key counterparties in transactions;
• Monitors the risks of the portfolio in terms of composition, size, quality, concentration risk, diversification, credit quality migration, and other criteria;
• Evaluates potential exit alternatives and other risk defeasance measures as needed for PSPM portfolio;
• Assesses the impact of prospective new financings on existing portfolio;
• Oversees the quality of project records in ADB’s online document management system or other equivalent systems; and
• Identifies emerging risks and project implementation problems, leads the identification of action plans to mitigate against such risks, and may be involved in restructuring or workout activities.

c. Development Effectiveness
• Supports the team behind the quarterly Development Effectiveness Forum through close coordination with all deal officers and the Private Sector Transaction Support team (PSTS) on the status of Development Effectiveness goals of all transactions, flagging cases that are underperforming vs targets, undertaking attribution analysis on the drivers of underperformance, and recommending remedial actions where possible. Supports the team in preparing clear communication materials for the benefit of the wider PSOD management team to effectively inform and discuss Development Effectiveness issues in the active portfolio.
• Implements the development effectiveness agenda related to all portfolio clients across PSPM including managing on going monitoring process related to it.
• Measures expected development, environmental and social safeguard outcomes in existing and proposed interventions in close liaison with PSTS; and
• Contribute to Knowledge Management by sharing relevant lessons learned from portfolio management and maintain feedback loops from PSPM to Origination.
• Manage the extended annual review reports (XARRs) of the portfolio, objectively assessing development effectiveness, additionality, work quality and financial performance of transactions, working with the Independent Evaluation Department (IED).

d. Portfolio Risk Distribution:
• Supports the team behind the quarterly Portfolio Exposure Management Committee through the preparation of various portfolio analytics that effectively portrays the evolving key attributes of the non-sovereign portfolio including concentrations, weighted average risk ratings, capital utilization, risk migrations, and other thematic risk trends.
• Implements and undertake active portfolio management strategies to manage single name, industry and country concentrations as well as on going hedging of the portfolio for risk management purposes working jointly with stakeholders such as Office of Risk Management (ORM) and Guarantees & Syndications Unit (GSU);
• Ensures compliance with prudential exposure limits including implications of the pipeline portfolio and recommend risk defeasance measures as needed;
• Conducts dialogue with hedging counterparties such as insurance companies to discuss ongoing developments on hedged exposures as well as broader portfolio in coordination with GSU;
• Prepares and executes proposals for portfolio distribution as needed. Understanding of key credit risk distribution products (and their structuring) as well as knowledge of financial markets in this regard is key.

e. Treasury Products
• Develop full understanding of ADB’s treasury products offered by Treasury Department (TD), especially local currency funding in different DMCs, and serve as the subject matter expert in this area across PSPM.
• Identifies opportunities for the deployment of new client solutions for various treasury products in conjunction with TD.

f. Strategy and Planning
• Prepares and monitors annual portfolio management plans;
• Develops a sound portfolio management strategy;
• Designs tools, instruments and models to optimize PSOD’s portfolio or a specific component of the portfolio, and executes its optimization strategy effectively; and
• Participates in a number of initiatives and change projects.

g. 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 financial institutions risk management, corporate social responsibility, and overall investment management;
• Develops and maintains relationships with the key business leaders in developing Asia; and
• Analyses and reports on market and investment trends.

h. Staff Supervision
• Creates and leads multidisciplinary teams and ensures the overall quality of work;
• Monitors 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 ensures their ongoing learning and development.

Qualifications

Relevant Experience & Requirements

• Master’s degree or equivalent in business administration, finance, or related fields; university degree combined with specialized experience in similar organization/s, may be considered in lieu of a master’s degree
• At least 8 years of relevant experience in commercial financial institutions, preferably with a leading international financial institution, investment bank, or consultancy firm; hands-on experience in project administration, structuring and processing loans and equity investments for financial institutions, analyzing credit risks, syndicating financial transactions, financial restructurings, exit from equity investments and related banking activities
• Extensive knowledge of risk distribution products and financial markets for such products.
• Experience in development impact assessment, particularly in MDB context
• Experience in efficient deployment of local currency funding solutions
• Deep understanding of debt and equity markets and products, especially targeted to financial institutions; good understanding of advanced credit analysis of financial institutions and experience in risk management including rating methodologies and risk categories (market risk, credit risk, operational risk).
• Experience in the remedial management
• Strong client orientation and demonstrated business development and portfolio aptitude. Proven success in developing client relationships and monitoring investments in emerging markets.
• Balanced business and risk sensibility based on demonstrated strong analytical skills and sound business judgement, with ability to develop innovative solutions.
• Extensive knowledge of loan, investment and credit products, including underwriting, pricing, servicing, accounting, exiting, and with particular experience in developing markets.
• Ability to lead negotiations with investee companies, borrowers, existing and prospective shareholders, sponsors, co-lenders and co-investors in emerging markets.
• Experience in dealing with distressed and problem assets.
• Strong analytical and structuring capabilities; and ability to multi-task
• Excellent people management skills with ability to effectively coach and mentor junior staff and ability to guide towards solution-oriented approaches to problems.
• Demonstrated strong teamwork and communications in a highly diverse and virtual environment.
• Excellent oral and written communication skills in English, in particular strong ability in business writing.
• Relevant work experience in countries in Southeast Asia or South and East Asia with FI or corporate sector clients will be an advantage
• International experience working in development finance in several countries will be an advantage.
• 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.