Job Opportunity for Investment Specialist at Asian Development Bank in New Delhi

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.

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 industry sectors. 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 this video.

The position assigned in the Private Sector Portfolio Management Division (PSPM), which is accountable for the pro-active management, reporting and review of ADB’s growing portfolio of private sector loans and guarantees, including managing client relationships. PSPM is currently composed of Infrastructure (including agriculture and social sectors) and Financial Institutions teams.

The specific role will focus on delivering first line of defense portfolio coverage for financial institutions transactions in ADB’s developing member countries especially in India, ensuring the achievement of development effectiveness agenda of PSPM portfolio, and executing dynamic portfolio management strategies necessary to address evolving risk profiles of obligors. A thorough understanding and experience in how to conduct credit analysis and structure around the risks of Emerging Market financial institutions transactions is essential.

Job Purpose

The Investment Specialist will support component parts of the Financial Institution portfolio, depending upon experience, and will contribute to the build-out and development of a “best in class” asset and portfolio management function in the Financial Institution team. The Investment Specialist will be working directly with the FI team of PSPM, taking responsibility for the delivery of development effectiveness for assigned portfolio, execution of active portfolio management strategies, and the overall management of a designated portfolio of Financial Institution accounts in DMC countries especially India. In addition to these specific portfolio management functions, the Investment Specialist will be providing support in the quarterly Development Effectiveness Forum with the goal of providing a clear, accurate, forward-looking assessment of the development effectiveness status of the non-sovereign portfolio to the PSOD Management Team. The Investment Specialist shall also be required to support the quarterly Portfolio Exposure Management Committee which provides a comprehensive analysis of various portfolio issues and recommends approaches to proactively manage evolving portfolio risks. The position will contribute to the build-out and development of a “best in class” asset and portfolio management function.

The staff will report to Director PSPM for technical, policy-related, and operational aspects, and to Country Director, INRM for day-to-day administrative matters. The staff may be required to supervise national and administrative staff in INRM. Engagement with INRM colleagues, across functions, is a requisite of the position, with strong knowledge sharing, and especially involvement in a wide variety of India-focused ADB initiatives.

Responsibilities

Management of Key Accounts

• Assumes primary as well as secondary account responsibility and relationship management for assigned key FI accounts in DMC countries especially India.

• Reviews, recommends and/or approves covenant compliance reports, waivers and amendments, monitoring reviews, ratings and other documents in connection with primary or secondary FI account relationships.

Portfolio Management

• Monitors the progress of project implementation, compliance with financial covenants, and compliance with environmental and social safeguard standards.

• Ensures annual Integrity Due Diligence of projects, sponsors, obligors, and key counterparties in transactions.

• Monitors the risks of the portfolio in terms of composition, size, quality, concentration risk, diversification, credit quality migration, and other criteria.

• Evaluates potential exit alternatives and other risk defeasance measures as needed for PSPM portfolio.

• Assesses the impact of prospective new financings on existing portfolio.

• Oversees the quality of project records in ADB’s online document management system or other equivalent systems.

• Identifies emerging risks and project implementation problems, leads the identification of action plans to mitigate against such risks, and may be involved in restructuring or workout activities.

• Monitoring of payments of fees and servicing of loans.

• Monitoring the tools being used for financial analysis, risk evaluation and review, and measures to mitigate the identified risks.

Development Effectiveness

• Supports the team behind the quarterly Development Effectiveness Forum through close coordination with all deal officers and the Private Sector Transaction Support team (PSTS) on the status of Development Effectiveness goals of all transactions, flagging cases that are underperforming vs targets, undertaking attribution analysis on the drivers of underperformance, and recommending remedial actions where possible. Supports the team in preparing clear communication materials for the benefit of the wider PSOD management team to effectively inform and discuss Development Effectiveness issues in the active portfolio.

• Implements the development effectiveness agenda related to all portfolio clients across PSPM including managing on going monitoring process related to it.

• Measures expected development, environmental and social safeguard outcomes in existing and proposed interventions in close liaison with PSTS; and

• Contribute to Knowledge Management by sharing relevant lessons learned from portfolio management and maintain feedback loops from PSPM to Origination.

• Manage the extended annual review reports (XARRs) of the portfolio, objectively assessing development effectiveness, additionality, work quality and financial performance of transactions, working with the Independent Evaluation Department (IED). =

Strategy and Planning

• Prepares and monitors annual portfolio management plans.

• Supports and contributes to the development of a sound portfolio management strategy.

• Designs tools, instruments and models to optimize PSOD’s portfolio or a specific component of the portfolio and executing its optimization strategy effectively.

• Supports and participates in a number of initiatives and change projects

• Coordinates with other unit teams with a One ADB approach

Knowledge Center for Governance, Risk Advisory, and Development Impact –

• Leads, supports and oversees the coordination and expansion of existing and future programs introducing international best practices at investee companies with regard to corporate governance, credit procedures, risk management, internal controls, and other initiatives.

• Measures expected development, environmental and social safeguard outcomes in existing and proposed interventions in close liaison with the Private Sector Transaction Support team (PSTS).

• Leads, supports and manages the portfolio review, credit reviews and extended annual review reports (XARRs) of the portfolio.

• Contributes actively to governance related forum, such as Development Effectiveness forum as Portfolio Exposure Management Committee, or where required.

• Participates in preparing staff instructions and other materials on mobilization products; and

• Contributes to preparing related in-house seminars and workshops, updates of commercial financing transaction briefs, manuals, brochures and other publications.

External Liaison and Knowledge Sharing

• Facilitates active relationships with financial intermediaries in the region, institutional investors and other commercial partners.

• Contributes and sharing knowledge of emerging best practices in project / corporate financing, corporate social responsibility, and overall investment management.

• Contributes to developing and maintaining relationships with the key business and political leaders in developing Asia especially India.

• Analyzing and reporting on market and investment trends.

Staff Supervision

• Supervises and monitors the performance of the assigned individuals providing clear direction and regular monitoring and feedback on performance and ensure overall quality of work.

• Provides coaching and mentoring to individuals and ensures their ongoing learning and development.

• Creates and leads multidisciplinary teams and ensures the overall quality of work.

Qualifications

Relevant Experience & Requirements

• A University degree in business administration, finance, or related fields; preferably at post-graduate level or its equivalent

• At least 6 years of relevant experience in commercial financial institutions, preferably with a leading international financial institution, investment bank, or consultancy firm; hands-on experience in project administration, structuring and processing loans and equity investments for financial institutions, analyzing credit risks, syndicating financial transactions, financial restructurings, and related banking activities

• Extensive knowledge of risk distribution products and financial markets for such products.

• Experience in development impact assessment, particularly in MDB context

• Experience in efficient deployment of local currency funding solutions

• Deep understanding of debt and equity markets and products, especially targeted to financial institutions; good understanding of advanced credit analysis of financial institutions and experience in risk management including rating methodologies and risk categories (market risk, credit risk, operational risk).

• Experience in the remedial management

• Strong client orientation and demonstrated business development and portfolio aptitude. Proven success in developing client relationships and monitoring investments in emerging markets.

• Balanced business and risk sensibility based on demonstrated strong analytical skills and sound business judgement, with ability to develop innovative solutions.

• Extensive knowledge of loan, investment and credit products, including underwriting, pricing, servicing, accounting, exiting, and with particular experience in developing markets.

• Ability to lead negotiations with investee companies, borrowers, existing and prospective shareholders, sponsors, co-lenders and co-investors in emerging markets.

• Experience in dealing with distressed and problem assets.

• Strong analytical and structuring capabilities; and ability to multi-task

• Excellent people management skills with ability to effectively coach and mentor junior staff and ability to guide towards solution-oriented approaches to problems.

• Demonstrated strong teamwork and communications in a highly diverse and virtual environment.

• Excellent oral and written communication skills in English, in particular strong ability in business writing.

• Relevant work experience in countries in Asia with FI (especially in India) or corporate sector clients will be an advantage

• International experience working in development finance in several countries will be an advantage.

• Please refer to the link for ADB Competency Framework for International Staff Level IS3.

General Considerations

The selected candidate, if new to ADB, 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.