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 Remedial Management Unit, Office of the Head (RMOD) within the Office of Risk Management (ORM). RMOD-RMU is responsible for risk monitoring, reporting, and management of remedial and impaired transactions within the private sector operations portfolio, including evaluating reviews of existing transactions, reviewing waiver and amendment requests, identifying impaired transactions, and establishing specific provision levels for impaired transactions. ORM has a broad mandate and ensures that ADB’s Treasury, Sovereign, and Nonsovereign operations are sustainable by safeguarding ADB’s rating, advising Board and Management on risk issues, and implementation and promoting a strong internal risk culture.
To view ADB Organizational Chart, please click here.
The Remedial Management Officer provides analytical support to a team of Remedial Management Specialists managing nonperforming debt and guarantee transactions and impaired equity investments, from reception to final resolution; and in overseeing the watchlist portfolio.
The incumbent will report to Advisor, RMOD, and Head, RMOD-RMU and/or designated international staff.
a. Corporate Recovery
- Analyzes nonperforming and impaired, or potentially nonperforming and impaired transactions, including financial and legal due diligence and analysis; interacts with accountants, legal and financial consultants, and with senior management of obligor/investee; constructs financial and valuation models as required.
- Assists in determining, documenting, and presenting best course of action in terms of recovery strategy (e.g., turnaround, restructuring, sale, liquidation, or any combination thereof) in the form of a workout strategy to the respective approval authority within ADB.
- Supports the execution of approved workout strategy, as required.
- Assists in facilitating the transfer of assets deemed nonperforming, or impaired, or in risk of becoming nonperforming or impaired, from operational departments in a structured and documented fashion, if deemed necessary.
- Contributes to the preparation of updated reports for each nonperforming or impaired transaction for reporting to ADB’s Investment Committee.
- Independently prepares financial forecasts and performs cash flow analysis and projections to determine the debt carrying capacity of borrowers and return potential for equity investments.
- Assists in (i) determining appropriate rating and accrual status for debt transactions and establishes fair value for impaired equity transactions; and (ii) calculating loan loss provisions and equity impairment estimates for nonperforming or impaired transactions.
- Participates in relevant quarterly governance meetings relating to watch list and impaired accounts, as needed.
- Assists in preparation of, use of, and updated submissions for the Investment Recovery Budget, as well as assists in implementation and maintenance of relevant documentation.
- Contributes to the preparation of lessons learned papers and presentations to disseminate workout experience to other divisions/units in ADB.
- Analyzes and processes monitoring reports, waiver, amendment, and consent requests for impaired transactions.
b. Remedial Accounts
- Assists in identifying assets in the early stages of stress that require elevated risk monitoring designation.
- Assists in monitoring the progress and recommending appropriate changes in ratings and designation for debt transactions and in establishing fair value for stressed equity transactions.
- Assumes ad hoc project duties and other forms of assignments including but not limited to (i) performing special duties assigned by Advisor, RMOD and Head, RMOD-RMU with respect to ORM-wide initiatives; (ii) coordinating the preparation of the unit’s work program and budget requirements; (iii) providing support to other divisions and units in ORM; and (iv) providing support in the planning of various initiatives designed to facilitate RMOD-RMU’s growth.
- Performs other tasks as assigned and as reflected in the incumbent’s work plan.
Relevant Experience and Requirements
- Bachelor’s degree in Economics, Finance, Accounting, or relevant fields of study preferably with advanced training.
- At least 8 years of relevant experience in major commercial / investment banks or consulting firms prior to joining ADB; preferably in the area of corporate recovery, restructuring, or special operations.
- Proven ability to undertake background research and analytical work, collect and organize data and information, apply computer skills in analyzing and developing data, and prepare notes, papers and reports.
- Understanding of and hands-on experience with distressed assets and workouts.
- Prior work experience with financial institutions, project finance, corporate finance, and private equity funds would be advantageous.
- Prior work experience with debt, structured, direct equity, and indirect equity transactions would be advantageous.
- Familiarity with financial models, risk rating tools, loan pricing instruments, equity valuation models, and developments in the area of risk management.
- Advance computer skills with sound knowledge of common word-processing, spreadsheets, powerpoint, graphics software used within ADB, financial modeling and macro.
- Strong analytical and creative problem-solving skills.
- Excellent written and verbal communication skills in English.
- Please refer to the link for ADB Competency Framework for national staff levels 1-2.
The selected candidate 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.