Principal Risk Management Specialist
Job Vacancy | Wednesday, March 22, 2023
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 2 (RMCD2) within the Office of Risk Management (ORM). The Division provides advice on deal structuring and risk mitigation, and provides credit decision and approval particularly for (i) corporate finance transactions, and (ii) 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 implementing and promoting a strong internal risk culture.
To view ADB Organizational Chart, please click here.
Job Purpose
The incumbent will (i) provide 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 and participating in quarterly review meetings, 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.
Responsibilities
a. Risk Assessment and Valuation
- Independently reviews and assesses 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; and
- Provides credit notes for nonsovereign transactions in both the concept review and final approval stages.
- Transaction Monitoring
- Independently assesses and reviews monitoring reports of equity transactions, and determines the appropriate frequency of the monitoring report based on the specific risk profile of the transaction;
- Independently reviews 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;
- Evaluates and recommends approval for waivers, amendments, and consents related to various proposed changes to terms and conditions in transaction or shareholder documentation and other changes to the previously approved transaction;
- Recommends proceedings including those relevant to effective corporate governance, shareholder rights and structure, capital measures, risk defeasance arrangements as applicable to reduce the risk profile and / or enhance the value of transactions; refers impaired transaction to ORM's Remedial Management Unit and provides support for work-outs of impaired equity transactions to maximize the recovery of invested capital.
- Others
- Assumes ad hoc project duties and other forms of assignments including but not limited to (i) assisting ORM Management with guidance on internal and external inquiries related to relevant sectors; (ii) providing coaching and mentoring to reporting staff and ensuring their on-going learning and development; (iii) providing support and inputs in the review and updating of ADB's policies, guidelines and practices on risk management; (iv) maintaining and sharing knowledge of emerging best practices; and (v) providing support in organizing and conducting risk training to promote risk culture in ADB.
Qualifications
Relevant Experience & Requirements
- Master’s degree or equivalent in finance, business administration, economics or other related fields; or university degree combined with at least 5 years specialized experience in similar organization/s.
- At least 12 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-initial public offering 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 link for ADB Competency Framework for International Staff 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.
