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 Investment Funds and Special Initiatives Division (PSIS) within the Private Sector Operations Department (PSOD). PSIS is responsible for 1) for investments in and management of private equity funds, 2) execution support/product expertise for direct equity investments/ divestments undertaken throughout PSOD, 3) management of concessional financing relationships and funds, and 4) other special investment initiatives in all ADB developing member countries. PSOD provides investment capital to private sector entrepreneurs, corporates and project sponsors, as well as financial intermediaries, such as banks and private equity funds, 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 support the origination, development, due diligence, approval, implementation and management of private sector transactions utilizing funds (via equity, debt and/or mezzanine financing instruments). The incumbent will report to Director, PSIS and will supervise national and administrative staff.

Responsibilities

A. Project Processing and Management
• Leads and conducts industry and market research to learn of fund management teams in Asia that align with ADB’s fund investment strategy and mandate for the private sector
• Supports and undertakes due diligence, risk analysis and mitigation in the structuring of fund investments
• Cultivates and maintains relationships with those fund managers in order to position ADB for potential co-investment opportunities
• Analyzes potential fund investment opportunities, including evaluating the track record, investment strategy, value-add, and investment team
• Drafts and presents internal proposals for approval by ADB’s Investment Committee and Board
• Supports ADB’s internal approvals process including interfacing with credit, safeguards, integrity, legal and other teams as well as management and the ADB Board
• Negotiates, structures and completes fund documentation
• Actively manages fund investments post-closing, including monitoring fund financial performance and activities (relating to capital deployment, exits, conflicts of interests, valuation, key person triggers, etc.), supporting fund monitoring (AMRs, QMRs, WACs), ensuring compliance with investment strategy, covenants, environmental and social safeguard requirements, and recommending corrective actions as necessary.
• Prepares technical assistance (TA) papers and applications for TA funding (either as stand-alone TAs or components of investment).
• Attends annual investor meetings for underlying funds
• Supports, identifies and executes co-investment transactions that support ADB’s mission, strategies and policies
• Works closely with the office of risk management (including the remedial group) in addressing fund management performance issues, liquidations and wind-downs

b. Economic, Sector and Thematic Work
• Drafts, reviews and provides comments on project, policy and other papers related to private sector development and operations issues in various themes and sectors

c. Knowledge Sharing
• Participates in and contribute to relevant internal and external sessions, training and conferences and other activities for advocacy, dissemination and knowledge building
• Maintains and shares knowledge of international best market practices and global and regional trends in the targeted sectors

d. Strategy and Planning
• Works with division team to help achieve ADB’s fund business goals and objectives
• Participates in country teams and missions for planning and programming purposes with particular focus on private sector development and operations and for the identification of investment opportunities in assigned Developing Member Countries of ADB

e. External Liaison
• Facilitates or leads active relationships with commercial lenders and other financial partners in the region, developers, investors and governments; and
• Assesses and structures transactions to maximize the potential for commercial co-financing and catalyzing of additional sources of capital.

f. Staff supervision
• Supervises the performance of reporting staff, providing clear direction and regular monitoring and feedback on performance
• Ensures the on-going learning and development of reporting staff

Qualifications

Relevant Experience & Requirements

• University degree in finance, engineering, business or related fields preferably at post-graduate level or its equivalent; or University degree combined with a specialized experience in similar organization/s.
• At least 6 years of relevant professional experience developing private sector infrastructure, financial services, agribusiness or healthcare equity and/or debt transactions
• International experience working in development in several countries.
• Excellent oral and written communication skills in English, including a demonstrated ability to communicate ideas clearly and confidently with good presentation skills in one-on-one settings or to larger groups (inside and outside of ADB)
• Demonstrated knowledge and understanding of DFI principles for the use of blended finance for private sector operations.
• Highly motivated and strong work ethic
• Proactive self-starter, with proven ability to initiate and bring deals lo completion
• Sound business judgment, problem solving and commercial instincts
• Excellent organizational, multi-tasking and time management skills with demonstrated ability to work efficiently and meet tight deadlines
• Strong interpersonal skills and ability to work effectively with large, culturally diverse teams at all levels
• Please refer to the link or ADB Competency Framework for International Staff Levels 3-4.

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.