Job Purpose:
RMCM is responsible for risk monitoring, reporting, and management of the operations portfolios, including ensuring limit compliance, evaluating annual reviews of existing transactions, reviewing waiver and amendment requests, and managing impaired transactions.
The Risk Management Specialist will (i) manage nonperforming debt and guarantee transactions and impaired equity investments, from reception to final resolution in the most time and cost effective way, using industry best practice; (ii) manage nonsovereign and sovereign portfolio risks by analyzing the level and trend of various portfolio risks and report results to senior management and Board members; and (iii) provide support to the credit monitoring team in reviewing existing transactions, processing waiver and amendment requests, valuing private equity funds and direct investments as well as assessing exit strategies and risk categorizations. The Specialist will also provide support for the formulation of ADB policies, guidelines and practices on risk management and portfolio management.
Expected Outcomes
a. Corporate Recovery Function
- Take over assets deemed nonperforming or impaired or in risk of becoming nonperforming or impaired, from operational departments in a structured and documented fashion.
- Analyze nonperforming and impaired or potentially nonperforming and impaired transactions. This includes financial and legal due diligence and analysis; interaction with accountants, legal and financial consultants; contacts with senior management of obligor/investee; construction of financial and valuation models as required; as well as other essential tasks.
- Determine, document and present the best course of action in terms of exit strategy (e.g. sale, restructuring, liquidation, or any combination thereof) in the form of a Problem Account Memorandum to the respective approval authority within ADB.
- Lead in executing the approved workout strategy. Initiate and contribute to all phases of the corporate recovery process in conjunction with all stakeholders involved. Negotiate with the obligor and other creditors as required.
- Monitor classified transactions.
- Prepare corporate recovery plans to include recommendations on when to realize losses, release any rights/security interests, and make material changes in transactions.
- Present updated Problem Account Memoranda for each nonperforming or impaired transaction to ADB's Investment Committee on a monthly basis.
- Calculate loan loss provisions and equity impairment estimates for each nonperforming or impaired transaction.
b. Portfolio Analysis Function
- Analyze and report aggregate risks and trends in the operations and treasury portfolios.
- Develop tools to analyze and monitor portfolio risks.
- Prepare quarterly risk management reports on sovereign and nonsovereign operations with focus on risk exposure and limit compliance, credit monitoring and reviews, capital adequacy and corporate recovery. Prepare other reports as may be necessary.
- Prepare quarterly risk management presentations to the Risk Committee and Audit Committee of the Board, and other special presentations.
- Assess ADB's capital adequacy using stress tests.
- Monitor the operations portfolio's compliance with ADB's limits.
- Provide support for the formulation of ADB policies, guidelines and practices on risk management and portfolio management.
c. Credit Monitoring Function
- Independently review the quality of Monitoring Reports of all nonsovereign debt, guarantee, and equity transactions, and determine the appropriate frequency of the Monitoring Report for each transaction.
- Evaluate the credit risk of loans and guarantees, review proposed risk ratings on the basis of the country, sector, market and financial analysis provided in the Monitoring Reports, and recommend appropriate ratings.
- For equity investments, review proposed valuations in terms of methodology and accuracy, and comment on the feasibility of proposed hold and/or exit recommendations in the Monitoring Reports.
- Evaluate and recommend approval for waivers of and amendments to loan covenants and terms and conditions in other legal documents, restructuring proposals for performing assets, and all changes to the security package for previously approved transactions. Recommend risk mitigation measures including relevant covenant structures, security arrangements, risk defeasance arrangements as applicable to reduce the risk profile of transactions.
- Recommend placing transactions on the Watch List based on increased risks or adverse trends, and, if necessary, recommend a higher risk rating.
- For transactions with a final risk rating of NSO13 and D, recommend transfer of impaired transaction.
- Participate in special reviews of countries, sectors, products, or corporate groups that have elevated risks.
d. Knowledge Sharing
- Maintain knowledge of emerging best practices, and new Basel standards in risk management.
- Provide support in organizing and conducting risk training to promote a risk culture in ADB.
- Prepare relevant reports for Management and Board consumption.
e. Staff Supervision
- Provide leadership and support to reporting staff.
- Supervise the performance of teams and individuals, providing clear direction and regular monitoring and feedback on performance.
- Ensure the on-going learning and development of reporting staff.
Educational Requirements:
- Master's Degree or equivalent, in economics, finance, accounting or related fields. University degree combined with specialized experience in similar organization/s may be considered in lieu of a Master's degree.
- Preferably a Certified Public Accountant (CPA) or Chartered Financial Analyst (CFA)
Relevant Experience And Other Requirements:
- Suitability to undertake the responsibilities mentioned above at the required level.
- At least 8 years of relevant experience in an international bank, multilateral/bilateral development organization, or consulting firm; preferably in the areas of credit and financial analysis preferably with some direct experience in managing corporate restructurings.
- Familiarity with portfolio management concepts and the analytical tools needed to perform the associated analyses.
- Experience in managing corporate and capital restructurings, including but not limited to remedial management activities such as debt re-profiling, recapitalization, pre-and post default operational restructuring, distressed asset management, sale and liquidation.
- Proven ability to evaluate distressed loans, guarantees, and direct and indirect equity transactions. Familiarity with industry best practice in corporate recovery and corporate restructuring.
- Excellent knowledge and demonstrated track record in all areas of credit risk management of individual transactions. Proven ability to capture the essence in terms of risks of transactions under review.
- Familiarity with risk rating methodologies, risk management frameworks, and relevant risk-related policies.
- Experience in valuation of listed and unlisted equities and ability to assess proposed exit strategies, and experience with Private Equity Funds would be an advantage.
- Knowledge of financial institution and project financings/structured finance would be an advantage.
- Strong analytical and creative problem solving skills.
- Excellent interpersonal and communication skills; good memo composition, editing skills, and strong presentation skills.
- Good computer skills with sound knowledge of common word-processing, spreadsheets, power point, and graphics software used within ADB.
- International experience working in several countries
Core Competencies:
Application of Technical Knowledge and Skills
- Regularly shares knowledge on new international best practice trends in comparator situations
- Proactively applies relevant international best practices to own work
- Convinces others to adopt international best practice by explaining the situational relevance and benefits
Client Orientation
- Helps colleagues work effectively with clients in different contexts and from diverse backgrounds and country situations
- Adapts own approach and style when interacting with clients, as opposed to requiring them to adapt
- Draws upon international best practice in exploring solutions with clients
- Confirms the clients' understanding and agreement before progressing
Achieving Results and Problem Solving
- Draws on own and others' multi-country experience to identify viable courses of action when conducting analyses
- Helps internal and external clients achieve quality results beyond presenting problems and precedent
- Highlights possible solutions for project issues based on relevant multi-country and/or multi-client experience
- Regularly contributes insights and experiences to colleagues in the Division to help them achieve quality results
- Overcomes unexpected difficulties and challenges to produce desired outcomes
Working Together
- Maintains collaborative relationships within the Department
- Works effectively with diverse colleagues in own and other Divisions and Departments
- Flexibly alters positions and adjusts previously stated points of view to support the group consensus
- Follows through on team priorities in the absence of a team leader
Communication and Knowledge Sharing
- Checks the audience's level of understanding and awareness of required follow up actions
- Consistently seeks and addresses feedback on own performance
- Creates knowledge products endorsed for wider distribution based on lessons and multi-country experience
- Independently amends and clarifies messages and documents
Innovation and Change
- Actively supports work improvement and/or organizational change by work and deed
- Develops and adopts change plans to support Division initiatives on which one works
- Considers current and future client needs in proposing ideas
- Vocalizes early support for change
- Recommends inputs to new policies, systems and processes in immediate work area
Immediate Reporting Relationships / Other Information:
- Supervisor: Director
- The following staff positions may be supervised by the incumbent:
- Administrative Staff
- National Staff
This is a re-advertisement. Previous applicants need not apply. Applications received in response to previous posting will be considered together with applications received in response to this advertisement.
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