Established in 1964, the African Development Bank is the premier pan-African development institution, promoting economic growth and social progress across the continent. There are 80 member states, including 54 in Africa (Regional Member Countries). The Bank’s development agenda is delivering financial and technical support for transformative projects that will significantly reduce poverty through inclusive and sustainable economic growth. In order to sharply focus the objectives of the Ten Year Strategy (2013 – 2022) and ensure greater developmental impact, five major areas (High 5s), all of which will accelerate our delivery for Africa, have been identified for scaling up, namely; energy, agro-business, industrialization, integration and improving the quality of life for the people of Africa.
Job Title: Division Manager, Finance
The President plans, supervises and manages the business of the Bank Group. Under the direction of the Boards of Directors, the President conducts the business of the Bank and the African Development Fund and manages operations and activities in accordance with the Agreements establishing the African Development Bank and the African Development Fund. The President supervises several Departments and Units including Office of the President (PRST0); Independent Development Evaluation Department (BDEV); Integrity and Anti-Corruption Department (PIAC); Compliance Review and Mediation Unit (BCRM); Secretariat to the Sanctions Appeals Board; Administrative Tribunal (BATR); Office of the Auditor General (PAGL); Group Risk Management Directorate; General Counsel and Legal Services Department (PGCL); Communication and External Relations Department (PCER); Staff Integrity and Ethics Office (PETH) and Office of the Secretary-General & General Secretariat (PSEG).
THE HIRING DEPARTMENT/DIVISION:
The role of the General Counsel and Legal Services Department (PGCL) is to provide legal support, legal advice and services to the Boards of the Bank Group, to the President, Vice Presidents, as well as the operational, financial and administrative departments of the Bank. The role of the PGCL is also to protect the interest of the Bank from legal liability and, as necessary, to provide legal defense in cases filed against or brought by the Bank.
The Finance Division’s main activities are to provide legal and advisory services in the mobilization, investment and management of the financial resources of the Bank.
The position of Division Manager – Finance Division is established to achieve the following:
- Lead all legal aspects of financial transactions/institutional issues and ensure the supervision and mentoring of staff under its supervision;
- Ensure the correct interpretation of, and compliance with the various policies, guidelines and regulations applicable to financial transactions/instruments of the Bank,
- Carry out the day to day administrative management of the Division;
- Interact with all institutional entities of the Bank including senior management, management and Board of Directors as the case may be; and
- Attend meetings of the Boards of Directors (formal and committees) and ensure that all legal issues related to financial transactions are adressed.
Duties and responsibilities
Under the supervision and guidance of the General Counsel and Director-PGCL, the Division Manager PGCL 3 will:
- Provide the technical leadership to Counsel delivering legal support for the mobilization, investment and management of the financial resources of the Bank Group.
- Assign work in the Division among Counsel.
- Coordinate the work products of each Counsel with other complexes of the Bank.
- Review and supervise Counsel supporting and advising the Bank’s Treasury in the negotiation and drafting of documentation to effect Bank borrowings in the international capital and money markets, and drafting or reviewing all legal documents required for the implementation of the Bank‘s borrowing strategy and capital markets transactions.
- Review and oversee legal documentation for the Bank’s derivatives and other risk management transactions, negotiating relevant master agreements and drafting and reviewing individual transaction documents.
- Supervise the legal aspects of cash management, bank account agreements, anti-money laundering (know your customer) initiatives, and contracts for the custody or investment of the Bank’s financial resources.
- Take the lead in reviewing legal documents concerning membership and subscription to the Bank’s capital, contributions to, and replenishments of, the African Development Fund and the creation of trust funds and special funds.
- Interpret the Bank Agreement, the General Authority on Asset and Liability Management, financial regulations, policies and rules and participating in the work of the Bank’s Asset and
- Issue legal opinions on regulatory institutional and financial issues arising from the interpretation and application of the Charter of the Bank; drafting legal documents relating to accession and participation in the Bank and the Fund; interpret and apply the Financial Regulations of the Bank.
- Supervise the preparation of all necessary documentation for the Bank’s borrowings in the international capital and money markets.
- Review, update and recommend for approval standard documentation, in accordance with market and industry practice, for use in derivative transactions.
- Advise on contracts for the investment of liquid assets of the Bank and the African Development Fund.
- Review, revise and recommend for approval global clearing, custody, execution and repurchase agreements to facilitate the Bank’s investment and risk management transactions.
- Propose and design appropriate amendments to the Bank Agreement and other pertinent legal instruments, such as the Financial Regulations.
- Support and advise the Bank Group Chief Risk Officer and the Asset-Liability Management Committee on the legal aspects of balance sheet optimization activities.
- Provide legal advice on matters relating to investments and financial transactions of the Staff Retirement Plan.
- Participate in meetings of the Asset-Liability Management Committee.
- In consultation with the General Counsel, conceive and prepare the budget of the division and control the general administrative, strategic policy direction of the Division.
- Handle certain legal issues of a complex and confidential nature in accordance with the instructions from the General Counsel and other Senior Management Staff of the Bank.
- Carry out such other duties as may be assigned by the General Counsel.
- Hold at least a Master’s degree or its equivalent in Law, and admission to the Bar of one of the African Development Bank member countries; or a Juris Doctor (JD) and admission to the Bar of one of the African Development Bank member countries.
- A minimum of eight (8) years of relevant experience in similar jobs, preferably with a reputable international law firm, a legal department of a private or public entity, or an international financial institution with proven technical competence and experiences in international finance and banking practice.
- Solid experience in applying legal knowledge to deliver full scope of strategic legal services in line with the Bank’s requirements.
- Extensive experience of finance with the setting up of complex legal structures to set up investments with multi-stakeholders.
- In-depth knowledge of Bank policies and procedures
- Effective consulting and advisory skills that enable clients and help resolve their legal questions.
- Ability to drive and manage change in line with in line with the Bank’s requirements.
- Ability to be flexible, open-minded and display a high level of integrity.
- High-level skills in communication and negotiation as well as the ability to build partnerships with a broad range of clients and deliver results that meet the needs of the Legal Service Department’s work program.
- Having private sector experience will be an added advantage.
- Client orientation
- Team building and relations
- Stakeholder management
- Ability to manage multiple, simultaneous and shifting demands, priorities and tight deadlines
- High-level skills in communication and negotiation as well as the ability to build partnerships with a broad range of clients and deliver results that meet the needs of the General Counsel and Legal Service Department’s work program.
- Ability to work and deal with sensitive issues in a multi-cultural environment and to build effective working relations with colleagues.
- Ability to communicate effectively (written and oral) in English and/or French, preferably with a working knowledge of the other.