Senior Investment Specialist, Manila 112 views


Reference Number: 190671

Position Level: IS 5

Department: Private Sector Operations Department

Division: Private Sector Investment Funds & Special Initiatives Div

Location: Asian Development Bank Headquarters

Date Posted: Monday, November 11, 2019

Closing Date: Tuesday, December 10, 2019 11:59 p.m. (2359 Manila Time, 0800 GMT)

IMPORTANT NOTICE:This is a special fixed-term appointment for a period of three (3) years following Section

  • 1 (c) of Administrative Order No.
  • 01 (‘Recruitment and Appointment’). This appointment is not convertible to a regular appointment. It may be extended on exceptional basis for a further fixed period at the option of ADB, if the position continues to be required under the Leading Asia’s Private Infrastructure (LEAP) Fund. This position is coterminous with LEAP Fund. This appointment is open to internal and external applicants.

If the successful candidate is an ADB staff member holding a regular appointment, his/her regular appointment will be converted to a special fixed-term appointment. A special fixed-term appointment will automatically and without prior notice expire at the end of the term.

Close relatives [1] of ADB staff, except spouses of international staff, are not eligible for recruitment and appointment to staff positions. Applicants are expected to disclose if they have any relative/s by consanguinity/blood, by adoption and/or by affinity/marriage presently employed in ADB.

Staff on probation are not eligible to apply. Applicants for promotion must have served at their position for at least one year and must have normally served at their personal level for at least two years immediately preceding the date of the vacancy closing date. Applicants for lateral transfer must have served at their position and personal level for at least one year immediately preceding the date of the vacancy closing date (reference A.O.

  • 03, paragraphs
  • 8 and
  • 9).

In the event that the staff appointed to a new category (i.e. from AS to NS, or from NS to IS) is rated at 2 or lower in the first performance review after staff has completed at least one full year in the new level, they will return to the level occupied immediately prior to their appointment in the new position.

[1] Close relatives refer to spouse, children, mother, father, brother and sister, niece, nephew, aunt and uncle

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: (i) the management of third-party funds from donors including concessional financing, (ii) investments in and management of private equity funds, (iii) execution support for direct equity investments/ divestments undertaken throughout PSOD, and (iv) other special investment initiatives in ADB’s developing member countries.

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 industries. 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. To learn more about PSOD, watch the video on ‘ Working with ADB on Private Sector Financing’.

To view ADB’s Organizational Chart, please click here.

Job Purpose

The Senior Investment Specialist acts primarily as the fund manager for the Leading Asia’s Private Infrastructure (LEAP) fund, a co-financing initiative with the Japan International Cooperation Agency (JICA), designed to finance quality and sustainable private infrastructure in Asia and the Pacific [1]. The incumbent will report to Director, PSIS and will supervise national and administrative staff.

Responsibilities

a. Fund Management

  • Administers and monitors the fund in accordance with the fund documentation, operational guidelines and ADB policies and procedures;
  • Liaises internally to ensure effective fund management with, for example, risk management, legal, safeguards, portfolio monitoring, accounting, treasury, cofinancing, external relations and the strategy and policy department;
  • Works with PSOD’s portfolio management division to support operations in the administration, monitoring, and risk management of projects cofinanced by third parties;
  • Liaises with JICA and maintains relationship to ensure funds are being used as effectively and efficiently as possible in accordance with the fund documentation;
  • Maintains investor communications and generates routine investor and financial reporting preparation and distribution packages;
  • Works with JICA to address any fund management issues, or queries or requests relating to JICA’s approval and support for LEAP eligible transactions;
  • Arranges fund investment committee meetings and other key milestones for transactions as they progress through ADB’s processing cycle;
  • Administers and manages capital call requirements, and manages cash flow including projections;
  • Leads the fund’s annual meeting with donors including preparation and delivery of presentations and documents;
  • Supervises and monitors cash flow, disbursements, reflows, dividends and distributions, expenses, and fund accounting operations;
  • Maintains accurate records of all fund transactions, review of financial and other reports;
  • Supervises account closings and reconciliations, valuation of the fund’s assets and accrual of the fund’s income and expense;
  • Monitors the returns, development metric and other performance measures of the fund;
  • Manages expenses and assigned cost center;
  • Analyzes funding issues and suggests corrective actions;
  • Works with auditors to execute annual financial audits and review statements;
  • Participates in the liquidation and dissolution of the funds required

Project Processing and Administration

  • Works with PSOD’s deal teams to support the origination of a pipeline of eligible private sector infrastructure transactions for the LEAP fund including screening of ADB’s pipeline of non-sovereign transactions;
  • Assesses and structures transactions to maximize the potential for commercial co-financing and catalyzing of additional sources of capital;
  • Undertakes due diligence, risk analysis and mitigation, and supports the negotiation and structuring of transactions utilizing third party funds, and provides inputs to transactions’ documentation (e.g., term sheets, loan agreements, shareholder agreements and guarantees);
  • Supports ADB’s internal approvals process including interfacing with credit, safeguards, integrity, legal and other teams as well as management and the ADB Board;
  • Screens transactions to assess benefits, and adherence to established principles for the use of blended concessional financing: (i) additionality, (ii) crowding-in, (iii) commercial sustainability, (iv) reinforcing markets, and (v) promoting high standards;
  • Authors concessional funding applications and provides inputs into ADB’s transaction processing documents such as concept notes, financing proposals and credit applications;
  • Supports the preparation of Technical Assistance (TA) papers and applications for TA funding (either as stand-alone TAs or components of investment);
  • Participates 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 ADB’s developing member countries;
  • Prepares and presents information packages to relevant fund investment committees;
  • Supervises the processing of transactions and resolves transactional issues;
  • Acts as a member of a separate ADB project team to represent the interest of a third-party funds in ADB’s processing of transactions when needed to manage and reduce potential conflicts of interest;
  • Supports PSIS in ad hoc work as needed

c. External Liaison

  • Liaises with third party fund contributors including JICA to ensure projects are aligned with the appropriate financing mandate and fulfill all conditions under co-financing agreements including approvals as needed, monitoring, evaluation and reporting
  • Handles correspondence and queries

d. Knowledge Sharing

  • Leads, drafts, reviews and provides comments on project, policy and other papers related to private sector development and operations issues in various themes and sectors;
  • Conducts analysis and prepares inputs for strategy and discussion papers on infrastructure and emerging market financing, blended finance and other topics;
  • Provides inputs to ongoing initiatives/discussions with donors about engaging the private sector in infrastructure financing activities;
  • Participates in and contributes to internal and external training and conferences and other activities for advocacy, dissemination and knowledge building relating to third party financing;
  • Maintains and shares knowledge of emerging best practices in fund management

d. Staff Supervision

  • Takes the role of team leader to develop capabilities/potential of reporting staff
  • Tracks the performance of reporting staff and ensures the on-going learning and development of reporting staff.

[1] https://www.adb.org/site/funds/funds/leap

Qualifications

Qualifications

Relevant Experience & Requirements

  • Master’s degree, or equivalent, in business administration, finance and accounting, engineering or related fields; university degree combined with a specialized experience in similar organization/s may be considered in lieu of a master’s degree
  • At least 10 years of experience in investment management with demonstrated ability to manage investment portfolios and client relationships
  • Relevant experience in financing private sector infrastructure projects in emerging markets
  • International experience working in development in several countries
  • Excellent oral 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
  • Highly motivated and strong work ethic
  • Excellent organizational, multi-tasking and time management skills with demonstrated ability to work efficiently and meet 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 levels 5-6.

General Considerations

The selected candidate is appointed for an initial term of three(3) years.

ADB offers competitive remuneration and a comprehensive benefits package. Actual appointment salary will be based on ADB’s standards andcomputation, taking into account the selected individual’s qualifications andexperience.

ADB seeks to ensure thateveryone is treated with respect and given equal opportunities to work in aninclusive environment. ADB encourages all qualified candidates to applyregardless of their racial, ethnic, religious and cultural background, gender,sexual orientation or disabilities. Women are highly encouraged to apply.

Please note that theactual level and salary will be based on qualifications of the selectedcandidate.

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