Senior Financial and Quantitative Risk Officer – PL5  

THE BANK:

Established in 1964, the African Development Bank is the premier pan-African development institution, promoting economic growth and social progress across the continent. There are 81 member states, including 54 in Africa (Regional Member Countries). The Bank’s development agenda is delivering the financial and technical support for transformative projects that will significantly reduce poverty through inclusive and sustainable economic growth. In order to sharply focus the objectives of the Ten-Year Strategy (2023 – 2032) and ensure greater developmental impact, five major areas (High 5s), all of which will accelerate our delivery for Africa, have been identified for scaling up, namely, energy, agro-business, industrialization, integration and improving the quality of life for the people of Africa. The Bank is seeking to build a management team that will lead the successful implementation of this vision.

THE COMPLEX:

The Vice Presidency for Finance oversees the financial management of the Bank Group. This encompasses the Bank Group’s treasury activities, including borrowings from the capital markets and investment activities; controllership functions including financial reporting and loan administration; strategic resource mobilization and the strengthening of the non-statutory financial resources and instruments; the overall asset/liability management for the Bank Group.

THE HIRING DEPARTMENT/DIVISION:

The role of the Financial Management Department (FIFM) is to develop and promulgate policies and guidelines relating to the financial management for the Bank Group. It also ensures internal consistency of all financial policies and guidelines, including those initiated and developed by the other departments in the Bank, as well as monitors and reports on compliance.

The Asset and Liability Management Division is responsible for developing and directing the Asset and Liability Management functions of the Bank Group entities, including financial policies, financial modelling and projections and balance sheet management activities involving risks related to changes in interest rates, exchange rates and the liquidity position.

THE POSITION:

The responsibilities of the Financial and Quantitative Risk Officer are to:

1. Prepare and periodically update financial projections for the ADB, ADF and Nigeria Trust Fund( NTF);
2. Support the Bank Group’s financial and risk management efforts through the production of relevant data, projections, financial analyses and reports;
3. Design, upgrade, implement and maintain the ALM IT Analytics System/Processes and financial models used by the Division to maintain an adequate risk management infrastructure.

KEY FUNCTIONS:

Under the supervision and guidance of the Division Manager, Asset and Liability Management(ALM), the Financial and Quantitative Risk Officer will perform the following:

1. Develop, back-test and run key financial models that help manage the risk profile of the Bank Group’s balance sheet and preserve its net income margin.
2. Liaise with the IT Department for the development or enhancement of the Bank’s ALM IT infrastructure.
3. Contribute to the elaboration of the Bank’s semi-annual Medium-Term Financial Outlook (MTFO) paper and to the Programme Budget Document (PBD).
4. Accountable for the development and production of the quarterly financial projections report contained in the “ALCO pack”, which is the prime set of documents used to make strategic decisions pertaining to the ongoing management of the Bank Group’s balance sheet and the continuing development of margin enhancing operations.
5. Identify and explain variance in financial key indicators.
6. Model the structure of specific/ new products in order to reflect how their profiles would impact the Bank Group’s financial position and overall risk profile.
7. Responsible for the maintenance of the integrity of Risk Management Analytics System/Processes with consideration of data, assumptions, processes and reporting through automation, reconciliation, and documentation.
8. Help prepare background working papers on the Bank’s and Fund’s resource mobilization initiatives such as general capital increases and ADF replenishments.
9. Provide diligent response to analytic requests from senior management.
10. Keep abreast of all ALM risks -related regulatory developments, industry and major MDBs (Multilateral Development Bank) best practices.

COMPETENCIES (skills, experience and knowledge):

1. Hold at least a Master’s degree in a quantitative field (Finance, Statistics, Mathematics, Economics, IT engineering and/or other relevant fields). CFA or FRM/PRM professional qualification is advantageous.
2. Have a minimum of five (5) years with proven track record in the financial field or a related consulting role, with at least 2 years’ experience in forecasting P&L and balance sheet of a financial services / banking entity.
3. Experience with an MDB, with emphasis in financial and quantitative risk.
4. Detailed financial knowledge and a solid understanding of accounting theory, financial and quantitative risks and complex financial instruments
5. Experience in forecasting P&L and balance sheet of a financial services / banking entity
6. Experience with financial projection and balance sheet management software solutions such as FIS Balance Sheet Manager
7. IT data computer experience, maintenance of information systems and specialist knowledge of statistical modelling techniques
8. Problem Solving: Applies business knowledge to the resolution of problems and identifies solutions to the benefit of the client (internal and external) and the organization
9. Operational effectiveness: ability to function effectively with deadlines and whilst under pressure
10. Team Working and Relationships: Works with others to maximize the effectiveness of the team as a whole, sharing the knowledge and workload. Develops strong working relationships with colleagues and contributes to creation of a positive team environment.
11. Good understanding of relational databases and development languages (e.g. SQL, Python).
12. Ability to communicate effectively (written and oral) in English or French, preferably with a working knowledge of the other language.
13. Competence in the use of standard software (Word, Excel, Access, PowerPoint).

THIS POSITION IS CLASSIFIED INTERNATIONAL STATUS AND ATTRACTS INTERNATIONAL TERMS AND CONDITIONS OF EMPLOYMENT.

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