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Risk Management Specialist/Senior Risk Management Specialist / 210135
Asian Development Bank (ADB)
Office of Risk Management
Grade: IS 4/5, Unspecified
Job Expired 17 May 2021
Expired
Added 2 months ago
Job Description

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.

1 Close 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.

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.

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ADB only hires nationals of its 68 members.

The position is assigned in the Credit Division 2 (RMCD2) within the Office of Risk Management (ORM). RMCD2 provides advice on deal structuring and risk mitigation and provides credit decision and approval particularly for corporate finance transactions and equity investments. ORM has a broad mandate and ensures that ADB’s Treasury, Sovereign, and Nonsovereign operations are sustainable by safeguarding ADB’s rating, advising Board and Management on risk issues and the implementation and promoting a strong internal risk culture.

To view ADB Organizational Chart, please click here.

Job Purpose

The Risk Management Specialist/ Senior Risk Management Specialist will (i) lead in providing assessments and related due diligence work on ADB’s new equity investments and recommend appropriate risk mitigation measures and transaction structuring inputs including, but not limited to, valuations, return requirements, covenants, and other terms and conditions of the transaction; (ii) lead the monitoring and review of ADB's existing direct and indirect equity investments with particular emphasis on conducting annual reviews, establishing the valuations of investees, ensuring limit compliance, reviewing waiver and amendment requests, and providing divestment advice; and (iii) provide support for the formulation of relevant ADB policies, guidelines and best practices on equity valuations and portfolio management.

The incumbent will report to Director, RMCD2 and may supervise national and administrative staff.

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Responsibilities

a. Risk Assessment and Valuation

  • Leads in assessing the viability of equity investment proposals, presents findings and recommendations for key transaction risks, covering, inter alia, sponsor, commercial, and structures risks in proposed financing transactions.
  • Ensures reliability of key assumptions for financial modeling, quantitative cash flow analysis based on technical, commercial, legal, regulatory, financial, institutional, governance, managerial, safeguards, fiduciary and capacity considerations.
  • Provides advice and recommendations to deal origination teams on appropriate valuation, deal structuring, return expectations and other commercial terms throughout the risk appraisal process.
  • Provides credit notes for nonsovereign transactions in both the concept review and final approval stages.

b. Transaction Monitoring

  • Independently assesses and reviews monitoring reports of nonsovereign equity transactions, and determines the appropriate frequency of the monitoring report based on the specific risk profile of the transaction and recommending appropriate ratings.
  • Leads the review of proposed valuations in terms of appropriateness of methodology and accuracy throughout the transaction life, and comments on the feasibility of proposed hold and/or exit recommendations in the monitoring reports.
  • Assigns an appropriate risk category to a private equity fund investment based on an assessment of risk factors, including the impact of foreign exchange and the other macro-risk developments, compliance with investment objectives, investment track record, fund manager capability, reasonableness of valuations, key value drivers, overall quality of the investment portfolio, exit prospects, corporate governance, and key man risk, inter alia.
  • Leads the evaluation and recommendation of approval for waivers, amendments, and consents related to various proposed changes to loan covenants and terms and conditions in legal documents, restructuring proposals for performing assets, and all changes to the security package for previously approved transactions.
  • Recommends risk mitigation measures including those relevant to shareholder rights, covenant structures, security arrangements, risk defeasance arrangements as applicable to reduce the risk profile of transactions; refers impaired transaction to ORM's Corporate Recovery team and provides support for workouts of impaired equity transactions to maximize the recovery of invested capital.

c. Others

  • Assumes ad hoc project duties and other forms of assignments including but not limited to (i) providing coaching and mentoring to reporting staff and ensure their on-going learning and development; (ii) providing support and inputs in the review and updating of ADB's policies, guidelines and practices on risk management; (iii) sharing knowledge of emerging best practices; and (iv) providing support in organizing and conducting risk training to promote risk culture in ADB.

Qualifications

Relevant Experience and Requirements

  • Master’s degree in finance, business administration, economics, or other related fields. University degree in finance, accounting, business administration, economics or related fields, combined with specialized experience in similar organizations, may be considered in lieu of a Master’s degree.
  • At least 8 years of relevant experience in an international bank, private equity fund, hedge fund, and/or multilateral/bilateral development organization in the areas of equity origination, equity portfolio administration, risk management and investment appraisal.
  • Excellent knowledge and demonstrated track record in all areas of valuations and risk management of equity transactions; and proven ability to capture substantial risk considerations of transactions under review.
  • Experience in valuation and pricing of early stage, pre-IPO and listed equities and ability to assess proposed exit strategies; and excellent knowledge and practical experience in different price discovery processes.
  • Experience with private equity funds as well as a strong network of contacts with private equity funds in the region.
  • Familiarity with risk management frameworks, and relevant risk-related policies
  • Strong project management and execution skills, including the ability to effectively drive complex, multifaceted matters to conclusion in an aggressive timeframe.
  • Excellent written and verbal communication skills in English.
  • International experience working in development in several countries.
  • Please refer to the links for ADB Competency Framework for International Staff Level 4 and 5

General Considerations

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The selected candidate 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.

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