EOI – Treasury Technical Expert – FITR at African Development Bank Group (AfDB) Contract

Job Title:  EOI – Treasury Technical Expert (Individual Consultant for Treasury Department)

Location: Abidjan, Cote d’Ivoire
Department issuing the request: Treasury Department
Duration of the assignment: Six months (potentially renewable)
Tentative Date of commencement: September 2023

Brief description of the Assignment

• The Treasury Department is looking for a senior-level consultant with a multidisciplinary skill set covering fixed income, asset management, debt issuance, Environment Social and Governance (ESG) frameworks for borrowing and investing, risk management and audit.
• The selected candidate is expected to play an active role in the Treasury Department’s project agenda and contribute to regular activities and assigned reviews.

Introduction / Background

• The African Development Bank (“AfDB”) is a regional multilateral development bank whose shareholders include the 54 countries in Africa and 27 non-African countries from the Americas, Asia and Europe. The Bank was established in 1964 with its headquarters in Abidjan Cote d’Ivoire.
• The Bank’s primary objective is to promote the economic development and social progress of its regional member countries, individually and jointly.
• The central goal of the Bank’s activities is promoting sustainable growth and reducing poverty in Africa. The Bank thus finances a broad range of development projects and programs.
• The AfDB provides financial assistance to its member countries using resources primarily raised in the capital markets.
• The Treasury Department is responsible for raising funds from capital markets, managing and investing the Bank’s liquidity and shareholders’ funds, processing and settling all financial transactions and managing the institution’s banking relationships.
• The Bank is rated triple A by the major rating agencies. The Bank’s high credit rating is underpinned by conservative prudential financial policies such as maintaining substantial holdings of liquid assets.

Objectives of the Assignment

• The Treasury Department is looking for a senior-level consultant that will be responsible for a series of assignments related to the development and implementation of strategic projects, such as hybrid capital, alternative fund raising initiatives, ESG related funding and investing, portfolio management system, master fund and reengineering of the Department’s processes.
• The consultant will work under the guidance of the Director of Treasury Department to ensure timely implementation of projects, policies reviews and coordinate activities of the Department with other entities of the Bank Group.

Main activities and deliverables
Primary responsibilities will include the following activities:

• Provide strategic input, advice and contribute to the Department’s strategic projects;
• Coordinate the Treasury Department’s contribution(s) to the formulation / review and implementation of the Bank Group strategic plans and activities;
• Lead capacity development activities in multiple areas including subordinated debt issuance, ESG integration (advice on ESG rating, issuance, structuring, cost effective arbitrage, communication, investing framework), Local currency funding, Benchmark assessment and Assets and Liabilities management;
• Provide financial solutions and analysis to address complicated issues on hedging, liquidity portfolio investment, and interest rate risk management;
• Advise on development and updates related to best practices in terms of policies, guidelines and procedures;
• Work closely with teams on the implementation of IT solutions, ensuring the systems are configured to meet the needs of the treasury functions;
• Draft and/or review notes and analytical reports;
• Ensures technical reviews and analysis on finance related matters;
• Provide technical support during meetings with internal and external parties, taking minutes and preparing summary notes to facilitate follow up and implementation of decisions;
• Provide innovative, creative and strategic thinking to help formulate appropriate actions and or strategies to influence, persuade or support Senior Management;
• Provide comments on papers, notes or Board documents;
• Cultivate collaborative relationships with the Division Managers as well as Treasury Officers within the Department;
• Undertake other assignments as needed or assigned.

Administration / reporting:

• The consultant will report to the direct supervisors on the various assigned deliverables and to the Director of the Treasury Department.

Qualifications and Experience required

• The consultant should possess strong quantitative and analytical skills, have a solid academic and practical understanding of finance and treasury activities, and should be committed to the social and economic development of countries in Africa.

Eligibility criteria for the recruitment are:

• Be a national of one of the member countries of the Bank;
• At least a Master’s Degree in a relevant field of study, such as Economics, Finance, Quantitative Finance, Financial Mathematics or Financial Engineering
• Professional certification such as CFA (Chartered Financial Analyst), FRM (Financial Risk Manager), PRM (Professional Risk Manager) is a plus;
• Ten years of relevant professional experience, preferably with responsibilities in the area of investment management or international debt capital markets;
• Substantial knowledge and experience across a wide array of business, policy and operational topics associated with financial instruments, portfolio management, financial risk hedging, credit rating methodologies, financial risk management, hedging, , , as well as a strong understanding of front, middle, and back office aspects of a well-functioning Treasury Department;
• Strong working knowledge of ESG rating and sustainable debt markets;
• Good knowledge of Multilateral Development Banks’ role, challenges and opportunities;
• Proven ability to manage multiple tasks and lead multiple projects simultaneously and concurrently;
• Ability to work under strong pressure;
• Excellent and proven writing skills in English and/ or French, as well as the verbal skills to communicate complex and technical issues in simple terms;
• High degree of self-motivation, a positive attitude, and the ability to lead and collaborate in a team-based, multi-cultural work environment;
• Professional experience with multilateral development banks, international development agencies, Central Banks and/or top tier asset management entities and commercial banks;
• Work with integrity and abide to the highest ethical standards;
• Competent in the use of Bank’s standard software (Word, Excel, Access, PowerPoint, and web tools) and Treasury systems.

Principal location of the Consultancy:

• The position will be based in Abidjan. However, based on the global impact of COVID-19 on work environments, working remotely can be considered and will be discussed in the later stages of the hiring process.

Establishment of the Shortlist
A shortlist of up to six individual consultants will be established at the end of the of period set for interested consultants to respond to the Expressions of Interest (EIO). Applicants’ submissions will be assessed based on the following criteria:

• General qualifications and suitability for the assignment (20%)
• Relevant professional experience related to the assignment (50%)
• Experience with multilateral development banks, international development agencies, Central Banks and/or top tier asset management entities and commercial banks (20%)
• Language capabilities (5%)
• Professional certification in finance (5%).

Remuneration
The consultant will be paid a competitive monthly rate in accordance with the Bank’s
procurement guidelines.

Application Closing Date
15th July, 2023.

Method of Application
Interested and qualified Consultants should indicate their interest in providing
the above-described services by providing information on their qualifications and experience demonstrating their ability to undertake this assignment (CV, Documentation, References for similar services, Experience in comparable assignments, etc.) to the “Treasury Department” via: [email protected] using “EOI – Treasury Technical Expert – FITR” as the subject of the mail.

Note

• The eligibility criteria, the establishment of a short list and the selection procedure shall be in conformity with the Bank’s Rules and Procedure for the Use of Corporate Consultants.
• Interest expressed by a Consultant does not imply any obligation on the part of the Bank to include him/her in the shortlist.
• Any questions and requests for clarifications may be sent to: [email protected] and: [email protected] .