Chief Investment Officer - African Development Bank

• Position title: Chief Investment Officer - FTRY3
• Grade: PL-3
• Position N°: 500000923
• Reference: ADB/15/018
• Publication date: 17/02/2015
• Closing date: 10/03/2015

Objectives

The role of the Investments Division is to manage all the Bank Group’s Treasury assets with the objective of capital preservation, liquidity maintenance and profitability in accordance with the Bank Group’s Asset-Liability Management (ALM) Guidelines. Currently, the Bank Group manages approximately USD 18 Billion of funds in the Special Drawing Rights (SDR) component currencies (US dollar, Japanese Yen, Pounds Sterling, Euro) and the South African Rand for several entities and accounts, notably: the African Development Bank (ADB), the African Development Fund (ADF), the Nigeria Trust Fund (NTF), the Heavily Indebted Poor Countries (HIPC) Initiative, etc.

Duties and responsibilities

Under the supervision of the Division Manager, FTRY.3, the incumbent will carry out the following functions:

(A) Supervisory Duties:

• Supervise management of Bank’s assets in its liquid currencies, according to the Investment Guidelines of each fund, monitoring and controlling interest rate and credit risk exposures;
• Supervise prompt and efficient placement of time deposits and execution of Foreign Exchange transactions;
• Supervise monitoring of market, economic and political developments and assess their implication for the Bank’s assets and investment strategy;
• Supervise production of all Treasury’s Investment reports (Weekly Market Focus, Monthly, Quarterly Report) presenting performance results and market developments;
• Act as Officer-in-Charge in the absence of the Division Manager.

(B)  Portfolio Management Specific Duties:

• Manage the Bank’s assets versus the specific benchmark(s) or fixed liability schedule with the objective of capital preservation, liquidity maintenance and profitability in accordance with the Investment Guidelines of the specific funds;
• Determine the optimal asset allocation to maximize risk-adjusted returns through the recommendation and implementation of investment products and trading strategies;
• Formulate and implement investment strategies, performing credit and scenario analysis and testing investment decisions and strategies to assess their potential impact on the Bank's liquid assets;
• Monitor and control the risk exposure of the portfolios and manage them within the Bank's investment guidelines and risk parameters. Propose and implement hedging strategies, via the use of derivatives;
• Supervise the portfolio valuation process and perform portfolio analysis, including portfolio performance attribution analysis in liaison with the Risk Management with regard to the verification of such data;
• Lead projects to introduce new financial products to enhance portfolio returns;
• Maintain and manage professional relationships with investment community, dealer counterparties, central banks and other professionals operating in financial markets. Actively seek to establish new market contacts and ensure that the investment team can access all relevant markets at any time;
• Lead advisory services and technical assistance to African Central Banks and other financial institutions on fixed income investment management;
• Make proposals in order to review of the Bank Group’s investment management framework, financial policies, guidelines, benchmarks and procedures. Actively participate in ALCO’s Working Groups.

Selection Criteria

Including desirable skills, knowledge and experience

• A minimum of a Master’s Degree (or its equivalent) in Finance, Economics, Mathematics, Statistics or another relevant quantitative discipline or a relevant professional certification such as Chartered Financial Analyst (CFA);
• A minimum of seven (7) years of relevant and practical experience in International Capital Markets in general and with special emphasis on active management of a complex fixed income portfolio;
• Strong knowledge and understanding of financial instruments, particularly bonds, structured products, derivatives, and risk management concepts;
• Proven credit analysis and financial modelling skills;
• Hands-on experience with Treasury systems such as Bloomberg, Summit / Numerix;
• Excel VBA programming skills;
• Command of standard computer software applications such as Word, Excel, PowerPoint
• Ability to work as a team player with excellent interpersonal skills;
• Strong ability to cope with multiple demands and competing priorities under pressure;
Excellent written and verbal communication in English or French with a working knowledge of the other language

Apply online

Apply for this position

To apply for this position, you need to be national of one of AfDB member countries.

• Submitted by: Division Manager, CHRM.1
• Approved by: Director, CHRM

Only applicants who fully meet the Bank's requirements and are being considered for interview will be contacted. Applicants will only be considered if they submit an online application, and attach a comprehensive Curriculum Vitae (CV). The AfDB President reserves the right to appoint a candidate at a lower level. The African Development Bank is an equal opportunities employer and female candidates are strongly encouraged to apply: www.afdb.org/jobs