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 2 (RMCD2) within the Office of Risk Management (ORM). RMCD2 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 Board and Management on risk issues and promoting a strong risk culture.
To view ADB Organizational Chart, please click here.
The Senior Risk Management Specialist leads in (i) providing assessments and related due diligence work on ADB’s new equity investments and recommends appropriate risk mitigation measures and transaction structuring inputs including, but not limited to, valuations, return requirements, covenants, and other terms and conditions of the transaction; (ii) monitoring and review of ADB’s existing direct and indirect equity investments with particular emphasis on conducting annual reviews, establishing the valuations of investees, ensuring limit compliance, reviewing waiver and amendment requests, and providing divestment advice; and (iii) supporting the formulation of relevant ADB policies, guidelines and best practices on equity valuations and portfolio management.
The incumbent will report to Director, RMCD2 and may supervise national and administrative staff.
a. Risk Assessment and Valuation
- Assesses the viability of equity investment proposals, presents findings and recommendations for key transaction risks, covering, inter alia, sponsor, commercial, and structures risks in proposed financing transactions;
Ensures reliability of key assumptions for financial modeling, quantitative cash flow analysis based on technical, commercial, legal, regulatory, financial, institutional, governance, managerial, safeguards, fiduciary and capacity considerations;
Provides advice and recommendations to deal origination teams on appropriate valuation, deal structuring, return expectations and other commercial terms throughout the risk appraisal process; and
Provides credit notes for nonsovereign transactions in both the concept review and final approval stages.
b. Transaction Monitoring
- Independently reviews monitoring reports of nonsovereign equity transactions, and determines the appropriate frequency of the monitoring report based on the specific risk profile of the transaction and recommending appropriate ratings;
Reviews proposed valuations in terms of appropriateness of methodology and accuracy throughout the transaction life, and comments on the feasibility of proposed hold and/or exit recommendations in the monitoring reports;
Assigns an appropriate risk category to a private equity fund investment based on an assessment of risk factors, including the impact of foreign exchange and the other macro-risk developments, compliance with investment objectives, investment track record, fund manager capability, reasonableness of valuations, key value drivers, overall quality of the investment portfolio, exit prospects, corporate governance, and key man risk, inter alia;
Evaluates and recommends approval for waivers, amendments, and consents related to various proposed changes to loan covenants and terms and conditions in legal documents, restructuring proposals for performing assets, and all changes to the security package for previously approved transactions;
Recommends risk mitigation measures including those relevant to shareholder rights, covenant structures, security arrangements, risk defeasance arrangements as applicable to reduce the risk profile of transactions; refers impaired transaction to ORM’s Remedial Management Unit and provides support for work-outs of impaired equity transactions to maximize the recovery of invested capital.
- Assumes ad hoc project duties and other forms of assignments including but not limited to (i) providing coaching and mentoring to reporting staff and ensuring their on-going learning and development; (ii) providing support and inputs in the review and updating of ADB’s policies, guidelines and practices on risk management; (iii) sharing knowledge of emerging best practices; and (iv) providing support in organizing and conducting risk training to promote risk culture in ADB.
RelevantExperience & Requirements
- Master’sdegree or equivalent in finance, business administration, economics or otherrelated field. University degree combined with specialized experience insimilar organization/s may be considered in lieu of a Master’s degree.
Atleast 8 years of relevant experience in an international bank, private equityfund, hedge fund, and/or multilateral/bilateral development organization in theareas of equity origination, equity portfolio administration, risk managementand investment appraisal.
Excellentknowledge and demonstrated track record in all areas of valuations and riskmanagement of equity transactions; and proven ability to capture substantialrisk considerations of transactions under review.
Experiencein valuation and pricing of early stage, pre-initial public offering and listedequities and ability to assess proposed exit strategies; and excellentknowledge and practical experience in different price discovery processes.
Experiencewith private equity funds as well as a strong network of contacts with privateequity funds in the region.
Familiaritywith risk management frameworks, and relevant risk-related policies.
Strongproject management and execution skills, including the ability to effectivelydrive complex, multifaceted matters to conclusion in an aggressive timeframe.
Excellentwritten and verbal communication skills in English.
Internationalexperience working in development in several countries.
Please refer to the link for ADB Competency Framework for InternationalStaff Level 4and 5.
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 thateveryone is treated with respect and given equal opportunities to work in aninclusive environment. ADB encourages all qualified candidates to apply regardlessof their racial, ethnic, religious and cultural background, gender, sexualorientation or disabilities. Women are highly encouraged to apply.
Pleasenote that the actual level and salary will be based on qualifications of theselected candidate.