Investment Specialist
Job Vacancy | Tuesday, April 11, 2023
IMPORTANT INFORMATION:
ADB will be rolling-out its operating model which may result in the change of department/group and/or reporting arrangement(s). By proceeding with your application, you acknowledge and accept the possibility of such changes resulting from the new operating model (NOM).
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 Portfolio Management Division (PSPM) within the Private Sector Operations Department (PSOD). PSPM is accountable for the pro-active management, reporting and review of ADB’s growing portfolio of private sector loan, guarantee, and equity, including managing client relationships. PSPM is currently composed of Infrastructure and Financial Institutions teams.
PSOD provides investment capital to private sector entrepreneurs, corporates and project sponsors, as well as financial intermediaries, such as banks, 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. 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.
Job Purpose
The Investment Specialist works directly with clients, taking responsibility for a number of designated accounts within PSPM’s overall portfolio of debt and other investments in infrastructure projects and corporates in developing Asia. The role holder will contribute to the build-out and development of a “best in class” asset and portfolio management function. The incumbent will report to Director, PSPM and may supervise national and administrative staff.
Responsibilities
a. Management of Key Accounts
- Assumes primary account responsibility and relationship responsibility for assigned key accounts; and
- Reviews and/or approves covenant compliance reports, waivers and amendments, annual reviews, ratings, valuation reports, exit proposals and other documents in connection with primary or secondary account relationships.
b. Portfolio Management
- Oversees the monitoring of the financial health and development impact of the portfolio, ensuring that key issues like portfolio and prudential exposure limits are considered and strategic objectives are attained;
- Monitors periodic review and progress reporting of project implementation, compliance with financial covenants, compliance with environmental and social safeguards standards;
- Monitors payment of fees and loan servicing;
- Monitors the tools being used for financial analysis, risk evaluation and review, and measures to mitigate the identified risks;
- Monitors PSOD’s portfolio in terms of composition, size, quality, concentration risk, diversification, credit quality migration, valuation movements, and other criteria;
- Ensures quality and consistency of reports and outgoing communications related to portfolio management;
- Compares exit alternatives and executing approved exit options, which include sell down, hedging, and other exit management measures;
- Assesses the impact of prospective new financings on existing portfolio;
- Oversees the quality of project records management system in ADB’s online document management system or other equivalent systems; and
- Identifies emerging risks and project implementation problems and leading the identification of action plans to mitigate against such risks and may be involved in restructuring, or workout activities.
c. Strategy and Planning
- Prepares and monitors annual portfolio management plans;
- Leads and oversees the development of a sound portfolio management strategy;
- Designs tools, instruments and models to optimize PSOD’s portfolio or a specific component of the portfolio, and executing its optimization strategy effectively; and
- Leads, supervises and participates in a number of initiatives and change projects.
d. Knowledge Center for Governance, Risk Advisory, and Development Impact
- Measures expected development, environmental and social safeguard outcomes in existing and proposed interventions in close liaison with the Private Sector Transaction Support team (PSTS); and
- Leads and manages the portfolio review, credit reviews and extended annual review reports (XARRs) of the portfolio.
e. External Liaison and Knowledge Sharing
- Facilitates active relationships with financial intermediaries in the region, institutional investors and other commercial partners;
- Maintains and shares knowledge of emerging best practices in project/corporate financing, corporate social responsibility, and overall investment management;
- Develops and maintains relationships with the key business leaders in developing Asia; and
- Analyses and reports on market and investment trends.
f. Staff Supervision
- Leads multidisciplinary teams and ensure the overall quality of work.
- Supervises the performance of teams and individuals providing clear direction and regular monitoring and feedback on performance; and
- Provides coaching and mentoring to team and individuals and ensure their ongoing learning and development.
Qualifications
Relevant Experience & Requirements
- At least 8 years of relevant professional experience in commercial financial institutions, including hands-on experience in project administration as well as experience in structuring and processing loans for projects and corporates, analyzing credit risks, syndicating financial transactions and related banking activities
- Master's degree, or equivalent, in business administration, finance, or related fields; university degree in business administration, finance, or related fields combined with 5 years specialized experience in similar organization/s, may be considered in lieu of a master’s degree
- Good understanding of how to conduct advanced credit and valuation analysis in respect of one or all of project and corporate finance transactions; a deep understanding of debt capital markets and products
- Experience in risk management, including rating methodologies, risk categories (market risk, credit risk, operational risk), etc.
- Extensive knowledge and understanding of loan, investment and credit products, including underwriting, pricing, servicing, accounting, exiting, etc. and with particular experience in developing markets
- Ability to lead negotiations with investee companies, borrowers, fund managers, existing and prospective shareholders, sponsors, co-lenders and co-investors
- Experience in dealing with distressed assets will be an advantage
- Strong analytical and structuring capabilities
- Ability to multitask
- Excellent verbal and written communication skills in English, in particular strong ability in business writing
- International experience working in development in several countries
- Please refer to the link for ADB Competency Framework for International Staff Level IS4.
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.
