THE HIRING UNIT:
The SNOU provides specialized knowledge and services to resolve distressed and underperforming corporate/project finance loans and equity exposures and assists with the identification and management of problem projects on the Bank’s watchlist.
The SNOU works closely with Portfolio Management and Risk Management to plan, organise, resourrce and implement the activities related to private sector project identification, preparation, appraisal, implementation and portfolio management.
SNOU leads “Jeopardy” projects where there is a risk of loss to the Bank, and supports portfolio management on “Joint Venture” watchlist projects. Restoring positive operations restructuring Balance Sheets and rescheduling loans to match sustainable debt service capacity is the ideal outcome, returning the project to portfolio management. Other outcomes may range from one-time cash settlements to exit (severing the Bank’s relationship before potential adverse PR associated with failure and job losses) debt for equity and warrant conversions of excess unsustainable debt (to preserve the Bank’s upside value after improvements) through to enforcement of collateral and business or asset sales.
SNOU carefully balances purely commercial remedies against the development, social and environmental mandate of the Bank when assessing resolution strategies, whilst managing the overall reputation of the Bank.
In addition to managing the unit’s portfolio of underperforming projects, SNOU also shares key lessons learned and promotes “early warning signs” across front office teams to identify and react to problems when they start, not just when the projects are deeply impaired. This preserves value for the Bank and keeps Non-Performing Loans, loan arrears and provisions to a minimum and assists with improving the quality of investments at entry.
THE POSITION:
The Investment Officer will utilize in-depth knowledge and experience to deliver resolution strategies for problem projects and demonstrate strong leadership skills for direct reports in the Unit as well as internal and external interaction and consensus building.
S/he leverages the prior project knowledge from portfolio managers who can be highly valuable temporary members of a tailored SNOU Jeopardy or Joint Venture team and will bring a new vision and objective thinking to decide on the best path forward for the underperforming project. S/he will lead others in the rapid diagnosis of distressed situations and design and implement optimal rehabilitation and exit strategy; take into account the unique characteristics and issues for each project.
The incumbent may also be invited from time to time to observe the Credit Risk Committee (CRC) investment process and Board Approval process in order to bring his or her experience to the attention of the Bank. S/he will also represent the Bank professionally with external parties, including auditors/advisors/consultants, Government representatives, Co-investors, Central Banks, Regulators and also at technical and DFI conferences..
KEY FUNCTIONS:
Under the supervision and guidance of the Head of Unit (SNOU), the Investment Officer will undertake the following:
COMPETENCIES (skills, experience and knowledge)
THIS POSITION IS CLASSIFIED INTERNATIONAL STATUS AND ATTRACTS INTERNATIONAL TERMS AND CONDITIONS OF EMPLOYMENT.
Should you encounter technical difficulties in submitting your application, please send an email with a precise description of the issue and/or a screenshot showing the problem to: HR Direct HRDirect@AFDB.ORG
Tagged as: AFDB, Investment
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