Investment Specialist
Job Vacancy | Monday, May 8, 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 Investment Funds and Special Initiatives Division (PSIS) within the Private Sector Operations Department (PSOD). PSIS is responsible for 1) for investments in and management of private equity funds, 2) execution support/product expertise for direct equity investments/ divestments undertaken throughout PSOD, 3) management of concessional financing relationships and funds, and 4) other special investment initiatives in all ADB developing member countries. PSOD provides investment capital to private sector entrepreneurs, corporates and project sponsors, as well as financial intermediaries, such as banks and private equity funds, 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.
Job Purpose
The Investment Specialist will support the origination, development, due diligence, approval, implementation and management of private sector transactions utilizing third party funds (via equity, debt and/or mezzanine financing instruments). The incumbent will report to Director, PSIS and will supervise national and administrative staff.
Responsibilities
a. Project Processing and Management
- Lead and conduct industry and market research to learn of fund management teams in Asia that align with ADB’s PE investment strategy and mandate for the private sector
- Support and undertake due diligence, risk analysis and mitigation in the structuring of private equity fund investments
- Cultivate and maintain relationships with those fund managers in order to position ADB for potential co-investment opportunities
- Analyze potential fund investment opportunities, including evaluating the fund manager's track record, investment strategy, value-add, and investment team
- Draft and present internal proposals for approval by ADB's Investment Committee and Board
- Support ADB's internal approvals process including interfacing with credit, safeguards, integrity, legal and other teams as well as management and the ADB Board
- Negotiate, structure and complete fund documentation
- Actively manage fund investments post-closing, including monitoring fund financial performance and activities (relating to capital deployment, exits, conflicts of interests, valuation, key person triggers, etc.), supporting fund monitoring (AMRs, QMRs, WACs), ensuring compliance with investment strategy, covenants, environmental and social safeguard requirements, and recommending corrective actions as necessary.
- Prepares technical assistance (TA) papers and applications for TA funding (either as stand-alone TAs or components of investment).
- Attend annual investor meetings for underlying funds
- Support, identify and execute co-investment transactions that support ADB's mission, strategies and policies
- Work closely with the office of risk management (including the remedial group) in addressing fund management performance issues, liquidations and wind-downs
b. Economic, Sector and Thematic Work
- Draft, review and provide comments on project, policy and other papers related to private sector development and operations issues in various themes and sectors
c. Knowledge Sharing
- Participate in and contribute to relevant internal and external sessions, training and conferences and other activities for advocacy, dissemination and knowledge building
- Maintain and share knowledge of international best market practices and global and regional trends in the targeted sectors
d. Strategy and Planning
- Work with division team to help achieve ADB’s PE fund business goals and objectives
- Participate in country teams and missions for planning and programming purposes with particular focus on private sector development and operations and for the identification of investment opportunities in assigned Developing Member Countries of ADB
e. External Liaison
- Facilitates or leads active relationships with commercial lenders and other financial partners in the region, developers, investors and governments; and
- Assesses and structures transactions to maximize the potential for commercial co-financing and catalyzing of additional sources of capital.
f. Staff supervision
- Supervise the performance of reporting staff, providing clear direction and regular monitoring and feedback on performance
- Ensure the on-going learning and development of reporting staff
Qualifications
Relevant Experience & Requirements
- Master's degree, or equivalent, in finance, engineering, business or related fields; or University degree combined with a specialized experience in similar organization/s, may be considered in lieu of a Master's degree.
- At least 8 years of relevant professional experience developing private sector infrastructure, financial services, agribusiness or healthcare equity and/or debt transactions
- International experience working in development in several countries.
- Excellent verbal and written communication skills in English, 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 ethics
- Proactive self-starter, with proven ability to initiate and bring deals to completion
- Sound business judgment, problem solving and commercial instincts
- Excellent organizational, multi-tasking and time management skills with demonstrated ability to work efficiently and meet tight deadlines
- Strong interpersonal skills and ability to work effectively with large, culturally diverse teams at all levels
- Please refer to the link for ADB Competency Framework for International Staff Level 4.
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.
