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Principal Risk Management Specialist / Senior Risk Management Specialist / 230335
Asian Development Bank (ADB)
Office of Risk Management
IS 5/6 Full-time
Close on 24 Apr 2024
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Posted 10 months ago
Job Description

IMPORTANT INFORMATION

This is a re-advertisement. Previous applicants need not apply. Applications received in response to previous posting will be considered together with applications received in response to this advertisement.

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 Credit Division within the Office of Risk Management (ORM). The Division provides advice on deal structuring and risk mitigation and provides credit decision and approval for nonsovereign transactions. 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 implementing and promoting a strong internal risk culture.

To view ADB Organizational Chart, please click here.

Job Purpose

The Principal/Senior Risk Management Specialist will provide guidance on risk assessments and related due diligence work for ADB's nonsovereign transactions, as well as provide risk oversight in the monitoring of existing transactions. The responsibilities of a Principal/Senior Risk Management Specialist include: (i) recommending appropriate risk mitigation measures and transaction structuring including pricing, security arrangement, financial covenants, and other terms and conditions of the transaction; and (ii) providing approval for credit-related waiver and amendment requests, evaluate changes in scope proposals, opine on exit recommendations, etc. The incumbent will also provide support for the formulation of ADB policies, guidelines and practices on risk management and portfolio monitoring.

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The incumbent will report to Director, RMCD1 and may supervise national and administrative staff.

Responsibilities

a. Risk Assessment

• Independently reviews, assesses, and provides recommendations to address key transaction risks, covering, inter alia, sponsor, commercial, industry, reputation and structure risks in proposed financing transactions;
• Provides advice and recommendations to origination teams on appropriate risk mitigation measures, deal structuring, risk adjusted pricing, security and other commercial terms, and financial covenants throughout the risk appraisal process;
• Provides credit notes for all types of nonsovereign transactions with specific focus on project finance and corporate finance structures, but also to include other product types such as financial institutions or equity investments, in both the concept review and final approval stages; and,
• Develops and updates best practice/lessons learnt from transactions in a structured manner for sharing with/training of origination teams; and assesses economic and sector risks, staying up to date with developments in the sectors and transactions.

b. Transaction Monitoring

• Independently reviews monitoring reports of nonsovereign debt and guarantee transactions, and determines the appropriate frequency of the monitoring report based on the specific risk profile of the transaction and recommending appropriate ratings;
• Evaluates and recommends approval for waivers, amendments, and consents related to various proposed changes to loan covenants or shareholder agreements, and terms and conditions in legal documents, restructuring proposals for performing assets, and all changes to the security package for previously approved transactions; and,
• Recommends risk mitigation measures including those relevant to covenant structures, security arrangements, risk defeasance arrangements as applicable to reduce the risk profile of transactions, placing transactions on the Watch List based on increased risks or adverse trends, and recommends transfer of impaired transactions to ORM's Remedial Management Unit.

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c. Others
• Supports ORM Management with guidance on internal and external inquiries related to relevant sectors;
• Participates in selected due diligence missions;
• Provides support for Investment Committee meetings;
• Assumes ad hoc project duties and other forms of assignments, as required; and,
• Provides support to other divisions and units in ORM as and when needed for special projects and tasks.

Qualifications

Relevant Experience & Requirements

• Master's degree in engineering, finance, economics, accounting or other related fields or its equivalent: university degree combined with at least 5 years specialized experience in similar organization/s, may be considered in lieu of a master's degree.
• At least 10 years of relevant experience in an international bank, rating agency, equity fund or multilateral/bilateral development organization, in risk management, deal origination or investment appraisal with specific focus on project finance and corporate finance, but also to include other product type, such as financial institutions, or equity investments.
• Substantial exposure in dealing with credit risk investment and monitoring issues related to complex debt and guarantee transactions, preferably in Asia and the Pacific region.
• Experience in all aspects of credit risk assessments, mitigation, and structuring of debt and guarantee transactions including technical, financial, market, industry, and regulatory risk analysis.
• Detailed understanding of lending and investment practices, banking products, financial modeling, rating methodology, and risk management concepts and methodology.
• Strong knowledge of banking products, financial and risk modeling, stress test methodology, analytical framework for assessing economic capital and loan loss provisioning adequacy, rating methodology, and risk management concepts.
• Excellent written and verbal communication skills in English.
• International experience working in multiple markets, preferably in developing countries.
• Please refer to the ADB Competency Framework for International Staff Level 5 and Level 6.

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.

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