African Development Bank Principal Investment Officer Job

African Development Bank Principal Investment Officer Job

African Development Bank is seeking a Principal Investment Officer (SNOU), will utilize in-depth knowledge and experience to deliver resolution strategies for problem projects, and demonstrate strong leadership skills for direct reports in the Unit as well as internal and external interaction and consensus-building.

S/he leverages the prior project knowledge from portfolio managers who can be highly valuable temporary members of a tailored SNOU Jeopardy or Joint Venture team and will bring a new vision and objective thinking to decide on the best path forward for the underperforming project. S/he will lead others in the rapid diagnosis of distressed situations and design and implement optimal rehabilitation and exit strategy; take into account the unique characteristics and issues for each project.

The incumbent may also be invited from time to time to observe the Credit Risk Committee (CRC) investment process and Board Approval process in order to bring his or her experience to the attention of the Bank. S/he will also represent the Bank professionally with external parties, including auditors/advisors/consultants, Government representatives, Co-investors, Central Banks, Regulators, and also at technical and DFI conferences.

Position title: Principal Investment Officer, SNOU

Grade: PL4

Position N°: 50086960

Reference: ADB/21/004

Publication date: 13-Jan-2021

Closing date: 12-Feb-2021

Duty station: Abidjan, Côte d'Ivoire

Duties and responsibilities

Under the supervision and guidance of the Head of Unit (SNOU), the Investment Officer will undertake the following:

  • Monitor the financial and operational performance of impaired projects offer recovery solutions and effective execution and implementation of agreed workout strategies;
  • Prepare regular reports as required on all project resolution activities;
  • Identify Lessons Learned to disseminate SNOU’s workout experience to other investment departments within the Bank to assist Portfolio Management to identify warning signs at an earlier stage and improve quality at entry;
  • Preparation of financial forecasts and perform cash flow analysis to determine the debt carrying capacity of borrowers and the return potential for equity investments, participate in due diligence of companies, and determine document, and present options for approaching investment resolutions (e.g. trade sale, restructuring, refinancing, turnaround, workout, enforcement and insolvency processes, debt for equity swaps or any other rescue approaches);
  • Conduct business reviews to understand the issues facing companies and offering practical solutions; interact with accountants, legal, financial and sectoral consultants; interact with senior management of investee companies; liaise with other co-investors and DFIs and construct financial and valuation models with sensitivities as required;
  • Prepare action plans and different resolution options for each non-performing or impaired investee company for the SNOU Head and other team members to present to the internal CRC including recommended strategies to resolve and optimise problem investments whilst understanding the need to protect the over-arching developmental mandate of the Bank and minimise any reputational fall-out.
  • Prepare internal papers and memoranda for investment proposals.

Selection Criteria

  • A Master’s degree in Economics, Business Administration, Finance, or related discipline.
  • Professional qualifications in Accounting, Legal, or Banking are a strong advantage.
  • A minimum of six (6) years of relevant progressive experience.
  • Formal insolvency practitioner license/membership of professional trade bodies is a strong advantage.
  • Demonstrable track record and professional experience of working either in a workout or recovery team for a bank or financial institution; or having worked for a major accounting or consulting firm advising clients on workouts, restructurings, or non-performing investments or portfolios.
  • Diverse experience both geographically and sectorally of investing and divesting across different types and sizes of businesses. International investment experience is a must.
  • Experience with Private Equity Funds adding value to investments and/or Project Finance would be an advantage
  • Ability to assess the effectiveness and efficiency of incumbent management teams, making recommendations on how to change or improve teams in investee companies.
  • Sound business judgment, with creative problem-solving skills and ability to think laterally in order to solve problems; and the ability to apply innovative approaches and new methods to solve problems while remaining efficient in a fast-paced, changing, and challenging institutional environment.
  • Strong analytical and modeling capabilities and ability to lead transactions from inception to completion.
  • Advanced corporate negotiating and influencing skills in workout and investment situations.
  • Solid experience in project management and cross-functional working with diverse teams.
  • Possess the necessary team skills required to lead specialized teams and analyze actions from the perspectives of multiple stakeholders.
  • Demonstrated ability to make effective and timely, well-determined recommendations or decisions.
  • Strong communication skills and the ability to deliver results that meet the needs and interests of clients within and outside the Institution. Understanding cultural sensitivities is key to this role
  • Ability to operate effectively in a matrix management environment, both as a team leader and team member.
  • Ability to deal sensitively in a multi-cultural environment and build effective working relations with clients and colleagues.
  • Demonstrates integrity, Sound judgment, and the highest ethical standards.
  • Excellent written and verbal communications in English or French, with a working knowledge of the other language.
  • Competence in the use of Bank standard software (Word, Excel, Access, PowerPoint). Ability to provide strategic advice to the Bank on emerging financial and development issues, as well as corporate issues.

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