Close relatives1 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.
1 Close relatives refer to spouse, children, mother, father, brother and sister, niece, nephew, aunt and uncle
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. 2.03, paragraphs 5.8 and 5.9).
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 two performance reviews after appointment at the new level, they will return to the level occupied immediately prior to their appointment in the new category.
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 within the Office of Risk Management (ORM). The Division provides advice on deal structuring and risk mitigation, and provides credit decision and approval for nonsovereign transactions. ORM ensures that ADB’s goal is sustainable by safeguarding ADB’s rating, advising the Board and Management on risk issues and promoting a strong risk culture.
To view ADB Organizational Chart, please click here.
The Principal Risk Management Specialist will provide guidance on risk assessments and related due diligence work for ADB’s nonsovereign transactions, as well as provide risk oversight in the monitoring of existing transactions. The responsibilities of a Principal Risk Management Specialist include: (i) recommending appropriate risk mitigation measures and transaction structuring including pricing, security arrangement, financial covenants, and other terms and conditions of the transaction; and (ii) providing approval for credit-related waiver and amendment requests, evaluate changes in scope proposals, opine on exit recommendations, etc. The incumbent will also provide support for the formulation of ADB policies, guidelines and practices on risk management and portfolio monitoring.
The incumbent will report to the Division Director and may supervise national and administrative staff.
a. Risk Assessment
Independently reviews, assesses, and provides recommendations to address key transaction risks, covering, inter alia, sponsor, commercial, industry, reputation and structure risks in proposed financing transactions;
Provides advice and recommendations to origination teams on appropriate risk mitigation measures, deal structuring, risk adjusted pricing, security and other commercial terms, and financial covenants throughout the risk appraisal process; and
Provides credit notes for all types of nonsovereign transactions with specific focus on project finance and corporate finance structures, but also to include other product types such as financial institutions or equity investments, in both the concept review and final approval stages;
Develops and updates best practice/lessons learnt from transactions in a structured manner for sharing with/training of origination teams; and assesses economic and sector risks, staying up to date with developments in the sectors and transactions.
b. Transaction Monitoring
- Independently reviews monitoring reports of nonsovereign debt and guarantee transactions, and determines the appropriate frequency of the monitoring report based on the specific risk profile of the transaction and recommending appropriate ratings;
- Evaluates and recommends approval for waivers, amendments, and consents related to various proposed changes to loan covenants or shareholder agreements, and terms and conditions in legal documents, restructuring proposals for performing assets, and all changes to the security package for previously approved transactions; and
- Recommends risk mitigation measures including those relevant to covenant structures, security arrangements, risk defeasance arrangements as applicable to reduce the risk profile of transactions, placing transactions on the Watch List based on increased risks or adverse trends, and recommends transfer of impaired transactions to ORM’s Remedial Management Uni
- Assists ORM Management with guidance on internal and external inquiries related to relevant sectors;
Participates in selected due diligence missions;
Provides support for Investment Committee meetings;
Assumes ad hoc project duties and other forms of assignments, as required; and
Provides support to other divisions and units in ORM as and when needed for special projects and tasks.
Relevant Experience & Requirements
- Master’s degree in engineering, finance, economics,accounting or other related fields or itsequivalent: university degree combined with specialized experience in similarorganization/s, may be considered in lieu of a master’s degree.
At least12 years of relevant experience in an international bank, rating agency, equityfund or multilateral/bilateral development organization, in risk management,deal origination orinvestment appraisalwith specific focus on project finance and corporate finance, but also toinclude other product type such as financial institutions, or equityinvestments.
Substantial exposure indealing withcredit risk investment and monitoring issues related to complex debt andguarantee transactions preferably in Asia and the Pacific region.
Experiencein all aspects of credit risk assessments, mitigation, and structuring of debtand guarantee transactions including technical, financial, market/industry, andregulatory risk analysis.
Detailedunderstanding of lending and investment practices, banking products, financialmodeling, rating methodology, and risk management concepts and methodology.
Strongknowledge of banking products, financial and risk modeling, stress testmethodology, analytical framework for assessing economic capital and loan lossprovisioning adequacy, rating methodology, and risk management concepts.
Excellentwritten andverbal communicationskills in English.
Internationalexperience workinginmultiple markets, preferably in developing countries
Please refer to the link for ADBCompetency Framework for International Staff Level 6.
The selected candidate is appointed for an initial term of 3 years.
ADBoffers competitive remuneration and acomprehensive 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 withrespect and given equal opportunities to work in an inclusive environment. ADBencourages 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.
Pleasenote that the actual level andsalary will be based onqualifications and experience of theselected candidate.