Senior Investment Specialist
- Internationally competitive, paid in US dollars
- Manila, National Capital Region, Philippines Manila National Capital Region PH
- Permanent, Full time
- Asian Development Bank
- 06 Apr 18 2018-04-06
ADB seeks qualified professionals to fill this vacancy in its Private Sector Operations Department, Private Sector Investment Funds & Special Initiatives Divison
Asian Development Bank (ADB) is an international development finance institution headquartered in Manila, Philippines and is composed of 67 members, 48 of which are from the Asia and Pacific region. ADB’s mission is to reduce poverty and promote sustainable economic growth in the region. ADB’s main instruments for helping its developing member countries (DMCs) are policy dialogue, loans, equity investments, guarantees, grants, and technical assistance.
ADB only hires nationals of its 67 member countries.
The position is assigned in the Investment Funds and Special Initiatives Division (PSIS) within the Private Sector Operations Department (PSOD). PSIS is responsible for the management of concessional financing relationships and funds, and other special investment initiatives in ADB’s DMCs. PSIS is also responsible for deal identification and processing, up to signing, for investments in private equity funds, execution support/product expertise for direct equity investments / divestments undertaken throughout PSOD.
PSOD provides investment capital to private sector entrepreneurs, corporates and project sponsors, as well as financial intermediaries, such as banks, throughout developing Asia. We catalyze, structure, and fund investments in privately held and state-sponsored companies across a wide range of industry sectors. Our 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.
This is a re-advertisement. Applications received from previous posting will be considered together with applications received in response to advertisement. Previous applicants need not apply.
This is a special fixed-term appointment for a period of three (3) years). The duration may be extended on exceptional basis for a further fixed period at the option of Asian Development Bank (ADB), if the position continues to be required and funded under the Canadian Climate Fund for the Private Sector in Asia II. A special fixed-term appointment will automatically and without prior notice expire at the end of the original or extended term.
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.
The Senior Investment Specialist will act as the Fund Administrator for a new $150 million co-financing initiative, the Canadian Climate Fund for the Private Sector in Asia II, CFPS II (or the “fund”) is designed to support greater private sector participation in climate projects in low and lower middle income countries in Asia and the Pacific. The fund will provide concessional cofinancing for ADB’s non-sovereign climate adaptation and mitigation transactions and also aims to improve gender equality in private sector climate projects. The incumbent will report to Director PSIS and may supervise national and administrative staff.
Project Processing and Administration – includes but not limited to:
- Working with PSOD’s deal teams to support the origination of a pipeline of eligible private sector climate mitigation and climate adaptation transactions;
- Managing relationships with PSOD deal teams to ensure concessional funds are effectively blended with ADB capital throughout the deal cycle;
- Screening of transactions to assess climate mitigation/adaptation benefits, and adherence to established principles for the use of blended concessional financing: (i) additionality, (ii) crowding-in, (iii) commercial sustainability, (iv) reinforcing markets, and (v) promoting high standards;
- Generating quantitative and qualitative arguments for the use of concessional financing including detailed development case studies on why concessional financing was needed to support transactions, and development outcomes that are expected from projects;
- Structuring tranches of concessional finance alongside ADB capital in transactions, and undertaking due diligence, risk analysis and risk mitigation for the fund (loans and mezzanine financing instruments);
- Constructing and adapting financial models to stress test scenarios with various degrees of concessional financing in order to maximize the effectiveness of concessional blended finance and arrive at minimum concessionality;
- Supporting ADB’s internal approvals process including interfacing with credit, safeguards, integrity, legal and other teams as well as management and the ADB Board;
- Authoring concessional funding applications and providing inputs into ADB’s transaction processing documents such as concept notes, RRPs,
- Working with PSOD’s portfolio management division to support operations in the administration, monitoring, and risk management of projects cofinanced by third parties;
- As needed, manage and reduce potential conflicts of interest by acting as a member of a separate ADB project team to represent the interest of a third party funds in ADB’s processing of transactions.
- Supporting PSIS in ad hoc work as needed.
Fund Management - includes but not limited to:
- Overall administration and monitoring of the fund in accordance with the fund arrangement, operational guidelines and ADB policies and procedures;
- Liaising internally to ensure effective fund management for example, with risk management, legal, safeguards, portfolio monitoring, accounting, treasury, cofinancing, external relations and the strategy and policy department;
- Arranging fund estment committee meetings and other key milestones for transactions as they progress through ADB’s processing cycle;
- Administering and managing capital call requirements, and managing cash flow including projections.
- Liaising with the fund contributors and maintaining the relationship to ensure funds are being used as effectively and efficiently as possible in accordance with the fund arrangement;
- Maintaining investor communications and generating routine investor and financial reporting preparation and distribution packages;
- Leading the fund’s annual meeting with donors including preparation and delivery of all presentations and documents; and
External Liaison - includes but not limited to liaising with third party donor to ensure projects are aligned with the appropriate financing mandate and fulfill all conditions under co-financing agreements including approvals, monitoring, evaluation and reporting
Knowledge Sharing – includes but not limited to:
- Conducting analysis and preparing inputs for strategy and discussion papers on blended finance, concessional finance, climate finance and other topics
- Providing inputs to ongoing initiatives/discussions with donors about engaging the private sector in infrastructure financing activities;
- Participating in and contributing to internal and external training and conferences and other activities for advocacy, dissemination and knowledge building relating to third party financing; and
- Maintaining and share knowledge of emerging best practices in fund management
Staff Supervision - includes but not limited to: 1) Taking the role of team leader to develop capabilities/potential of reporting staff; 2) Tracking the performance of reporting staff; and 3) Ensuring the on-going learning and development of reporting staff
Relevant Experience & Requirements
- Master's degree, or equivalent, in business administration, finance, and accounting or related fields, preferably at post-graduate level or its equivalent. A university degree in business, finance, accounting or related fields combined with a specialized experience in similar organization/s, may be considered in lieu of a master’s degree.
- At least 10 years of experience in investment management with demonstrated ability to manage investment portfolios and client relationships
- Relevant experience in developing private sector climate mitigation and adaptation projects with experience in gender equality
- International experience working in development in several countries
- Excellent oral and written communication skills in English are required, 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)
- Highly motivated and strong work ethic
- Excellent organizational, multi-tasking and time management skills with demonstrated ability to work efficiently and meet deadlines
- Strong interpersonal skills and ability to work effectively with large, culturally diverse teams at all levels
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.
Application link: https://www.adb.org/careers/170498
Deadline for application: 30 April 2018