Senior Financial Sector Specialist

Job Posting Organization:
The Asian Development Bank (ADB) is an international development finance institution that was established to foster economic growth and cooperation in the Asia-Pacific region. Headquartered in Manila, Philippines, ADB was founded in 1966 and has grown to include 69 member countries, with 50 of these members from the Asia and Pacific region. ADB's mission is to alleviate poverty and promote sustainable development across its member countries. The organization employs a diverse workforce and is committed to creating an inclusive environment that respects and values the contributions of all employees. ADB combines financial resources, knowledge, and partnerships to achieve its goals, and it operates under its Strategy 2030 framework, which aims to create a prosperous, inclusive, resilient, and sustainable Asia and Pacific. ADB is dedicated to ensuring that everyone is treated with respect and has equal opportunities to work within the organization, encouraging applications from all qualified candidates regardless of their background or identity.

Job Overview:
The Senior Financial Sector Specialist position is a critical role within the Asian Development Bank's Financial Sector Office (FIN) under Sectors Department 3 (SD3). This position is designed for an experienced professional who will contribute to the development and implementation of policies and strategies aimed at enhancing the finance sector in developing member countries (DMCs). The specialist will be responsible for overseeing project identification, preparation, appraisal, and compliance with ADB's operational guidelines during the development and implementation of loans, technical assistance (TA), and non-lending products and services. The role requires a proactive approach to managing the project portfolio, identifying implementation challenges, and executing corrective actions in collaboration with regional teams. The Senior Financial Sector Specialist will also ensure quality assurance of new projects by leveraging the collective knowledge and experience within the sector, thereby contributing to ADB's strategic agenda in the region.

Duties and Responsibilities:
The duties and responsibilities of the Senior Financial Sector Specialist include overseeing and leading the implementation and administration of complex loan, grant, and technical assistance projects that necessitate policy, institutional, and operational reforms. The specialist will administer projects with a focus on sectoral and thematic areas, lead the monitoring and periodic review of project implementation, and ensure compliance with covenants and achievement of annual portfolio targets. The role involves providing guidance to improve portfolio performance, identifying actions needed to resolve project implementation issues, and executing necessary actions to address these challenges. The specialist will actively participate in network activities within the finance sector, engage in knowledge sharing, mentor staff, and stay updated on the latest developments in the field. Collaboration with other development partners is essential to ensure consistency and harmonization of approaches, as well as to facilitate co-financing opportunities. The specialist will also ensure that lessons learned from project administration are integrated into the design of new projects and effectively communicated to stakeholders. Additionally, the role includes supervising reporting staff, providing clear direction, and fostering their ongoing learning and development.

Required Qualifications:
Candidates for the Senior Financial Sector Specialist position must possess a Master's degree in economics, finance, or an MBA. Alternatively, a Bachelor's degree in economics, international development, or business/finance combined with at least five years of specialized experience in similar organizations may be considered in lieu of a Master's degree. The position requires a minimum of ten years of relevant professional experience in project processing, project administration, and sector evaluation, with significant experience in the financial sector. International experience working in multiple countries is essential, and candidates must have at least two years of relevant experience outside ADB within the past five years. Proven leadership qualities and a successful track record in leading teams and coaching staff are critical for this role. A strong knowledge of finance sector operations and experience working with multi-sectoral teams are particularly desirable. Excellent written and verbal communication skills in English are mandatory.

Educational Background:
The educational background required for the Senior Financial Sector Specialist position includes a Master's degree in economics, finance, or an MBA. In cases where candidates hold a Bachelor's degree in economics, international development, or business/finance, they must have at least five years of specialized experience in similar organizations to be considered for the role. This educational foundation is essential to ensure that the candidate possesses the necessary analytical and strategic thinking skills required for the position.

Experience:
The level of experience needed for the Senior Financial Sector Specialist position is substantial, with a minimum of ten years of relevant professional experience in project processing, project administration, and sector evaluation. Candidates must have significant experience specifically within the financial sector, including international experience working in various countries. Additionally, it is required that candidates have at least two years of relevant experience outside of ADB within the past five years, which may include roles as a consultant or contractor. This extensive experience is crucial for the successful execution of the responsibilities associated with this position.

Languages:
The mandatory language requirement for the Senior Financial Sector Specialist position is proficiency in English, both written and verbal. Excellent communication skills are essential for effectively engaging with internal and external stakeholders. While English is the primary language required, knowledge of additional languages may be considered an asset, particularly if they are relevant to the regions in which ADB operates.

Additional Notes:
This position is a fixed-term appointment with the option to renew, initially for a period of up to three years or until the Normal Retirement Date (NRD), whichever comes first. The renewal of the appointment will depend on various factors, including the need for the specific skills and experience of the staff member, sufficient funding for the renewed period, and the staff member's performance and suitability for continued employment. There is no limit to the number of renewals up to the NRD, but this appointment is not convertible to a regular appointment. ADB offers competitive compensation and a comprehensive benefits package, including paid leave, medical and health benefits, life and other insurance plans, staff development opportunities, a retirement plan, and allowances for housing and education if applicable. Expatriate benefits and relocation assistance may also be provided if applicable. This position is crucial to ADB's Workforce Rebalancing Framework (2022-2027), aimed at enhancing in-house expertise previously sourced from the external workforce.