Chief Investment Officer at African Development Bank

Duties and responsibilities

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

• Monitor the financial and operational performance of impaired investments and effect execution and implementation of agreed workout strategies to ensure optimal recoveries whilst seeking to minimize any write-offs;
• Prepare regular reports and back-to-office reports as required on all investment resolution activities;
• Identify lessons learned to disseminate SNOU’s workout and recovery experience to other investment departments within the Bank to assist Portfolio Management to identify warning signs in projects at an earlier stage;
• Preparation of financial forecasts and perform and review cash flow analysis to determine the debt carrying capacity of project companies 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);
• Lead internal multi-disciplinary teams when conducting 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 and review complex financial and valuation models with sensitivities as required;
• Prepare detailed 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 Credit Risk Committee and Management Committees including recommended strategies to resolve and optimize problem investments whilst understanding the need to protect the over-arching developmental mandate of the Bank and to minimize any reputational fall-out.
• To work on any specific ad-hoc project that is request for the Chief Investment Officer to be engaged in to add value to the Bank.

Selection Criteria

• A Master’s degree or equivalent in Economics, Business Administration, Finance or related discipline.
• Professional qualifications in Accounting, Legal or Banking are a strong advantage.
• A minimum of seven (7) years of relevant progressive experience.
• Demonstrable and extensive 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, non-performing investments or loan portfolios.
• Ability to quickly understand the underlying issues and inherent risks of specific project investments under review and advising on the most appropriate course of action and the associated consequences, risks and costs of each action proposed;
• Diverse experience both geographically and sectorally, of investing and divesting across different types and sizes of businesses and projects. International investment and recovery experience is a must. Understanding cultural sensitivities is also key to this role;
• Ability to assess the effectiveness and efficiency of incumbent management teams, making recommendation on how to change or improve teams in investee companies;
• Knowledge and experience in valuation of listed and unlisted equities and ability to assess proposed exit strategies for problem projects. Experience with Private Equity Funds, adding value to investments and/or Project Finance would be an advantage;
• Strong analytical and modelling abilities and ability to lead transactions from inception to completion would be an advantage;
• Sound business judgment, with creative problem-solving skills and ability to think laterally in order to solve complex business and financial problems. Ability to build effective client and other relationships (both internally and externally);
• Advanced corporate negotiating and influencing skills in workout, restructuring and investment environments.
• 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.