Asian Development Bank

Senior Investment Specialist

Asian Development Bank

Job Description

Reference Number: 210034 Position Level: IS 5 Department: Private Sector Operations Department Division: Office of the Director General, PSOD Location: Asian Development Bank Headquarters Date Posted: Friday, January 22, 2021 Closing Date: Sunday, February 21, 2021 11:59 p.m. (2359 Manila Time, 0800 GMT) IMPORTANT INFORMATION: Close relatives1 of ADB staff, except spouses of international staff, are not eligible for recruitment and appointment to staff positions. Applicants are expected to disclose if they have any relative/s by consanguinity/blood, by adoption and/or by affinity/marriage presently employed in ADB.

1Close relatives refer to spouse, children, mother, father, brother and sister, niece, nephew, aunt and uncle Staff on probation are not eligible to apply. Applicants for promotion must have served at their position for at least one year and must have normally served at their personal level for at least two years immediately preceding the date of the vacancy closing date. Applicants for lateral transfer must have served at their position and personal level for at least one year immediately preceding the date of the vacancy closing date (reference A.O. 2.03, paragraphs 5.8 and 5.9).

In the event that the staff appointed to a new category (i.e. from AS to NS, or from NS to IS) is rated at 2 or lower in the first two performance reviews after appointment at the new level, they will return to the level occupied immediately prior to their appointment in the new category.

This is a special fixed-term appointment for a period of three (3) years following Section 3.1 (c.) of Administrative Order No. 2.01 ("Recruitment and Appointment'). This appointment is not convertible to a regular appointment. It may be extended on exceptional basis for a further fixed period at the option of ADB. This appointment is open to internal and external applicants.

If the successful candidate is an ADB staff member holding a regular appointment, his/her regular appointment will be converted to a special fixed-term appointment. A special fixed-term appointment will automatically and without prior notice expire at the end of the term.

Overview

Asian Development Bank (ADB) is an international development finance institution headquartered in Manila, Philippines and is composed of 68 members, 49 of which are from the Asia and Pacific region. ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and The Pacific, while sustaining its efforts to eradicate extreme poverty. ADB combines finance, knowledge, and partnerships to fulfill its expanded vision under its Strategy 2030.

ADB only hires nationals of its 68 members.

To view ADB Organizational Chart, please click here.

The position is assigned to the Business Development Team (BDT) under the Office of the Director General (OPSD) of Private Sector Operations Department (PSOD). BDT is a strategic initiative of PSOD, to explore, identify, coordinate and process early-stage developmental initiatives that contribute to the long-term project pipeline of PSOD. The team focuses on the upstream work of creating long-term value and bankable projects across sectors and countries. BDT is responsible for the implementation of ADB Ventures, a new facility that will support and invest in startups offering impact technology solutions that contribute to the achievement of the Sustainable Development Goals (SDGs) in Asia and the Pacific. PSOD provides investment capital to private sector entrepreneurs, corporates and project sponsors, as well as financial intermediaries, such as banks, throughout developing Asia and the Pacific. It catalyzes, structures, and funds investments in privately held and state-sponsored companies across a wide range of industry sectors. Its emphasis is on commercially viable transactions that generate financial returns while also delivering on ADB's organization-wide mission to promote environmentally sustainable and inclusive economic growth. To learn more about PSOD, watch the video on " Working with ADB on Private Sector Financing".

Job Purpose

The Senior Investment Specialist will lead and be involved in (i) upstream work of creating long-term value and bankable projects, and (ii) investment activities of ADB Ventures, including deal origination across ADB's developing member countries (DMCs), due diligence, deal execution, portfolio management, as well as the fund management and Administration. The incumbent will report to Deputy Director General, PSOD and may supervise national / administrative staff and consultants.

Responsibilities

Mainstreaming ADB Ventures into PSOD operations

  • Leads the operation of ADB Ventures Investment Fund 1, that will contribute to the pipeline of high-impact non-sovereign projects.
  • Leads the identification, incubation and scaling of innovative technology solutions, that increase the development inclusiveness and effectiveness of ADB's operations.
Investment responsibilities

  • Leads the sourcing of new investment opportunities and builds a high-quality investment pipeline, including by leveraging personal networks and relationships.
  • Evaluates opportunities for investment, assesses investment risks, analyzes financial data, and performs business and investment valuation.
  • Leads and manages the full investment life-cycle from due diligence, close process, pre and post funding Lead to follow-on funding and exit management.
  • Leads the development of the fund investment strategy, the Analysis of markets and sectors, and tracking of investment trends and deals.
  • Leads portfolio companies on various management, strategy and funding issues, including taking board seats at portfolio companies, as appropriate.
  • Networks and interacts with entrepreneurs, advisors, other investors, corporates and other key stakeholders in the Asian impact tech ecosystem.
  • Manages day-to-day fund operations and administration, including overseeing portfolio and impact monitoring and management and investor/donor reporting.
  • Develops and implements processes for efficient and effective management of ADB Ventures Investment Fund 1 including the overall administration of the fund. (Note: ADB Ventures Investment Fund 1, the facility's first fund, has a target size of $50 million and will invest in early-stage enterprises with technology solutions contributing to SDG-impact, with a strong focus on addressing Climate Change and empower women. The fund has a 17-year fund life, allowing ADB to invest patient capital into cleantech, fintech, agricultural technology, and health technology solutions.)
  • Leads the development, fund-raising and management of other, including future, ADB Ventures activities and funds as may be required.
Strategy and Planning

  • Contributes to the development of policy and strategies for ADB's developmental goals for the private sector in consultation with relevant stakeholders.
  • Coordinates work with other departments on project related and Strategy Policy matters.
Knowledge Sharing

  • Networks and interacts with broader ADB operations and ADB senior management as required.
  • Acts as an ambassador for PSOD, BDT, ADB Ventures and its portfolio companies and represent their respective interests at tech and investment conferences, industry events, and in the press.
  • Participates in and contributes substantially to relevant learning events and other activities for advocacy, dissemination, and knowledge building.
  • Drafts, reviews, and provides comments on project, policy, and other papers related to private sector development and operations.
  • Maintains and shares knowledge of emerging best practices in the market.
Staff Supervision

  • Takes the role of project team leader and supervises the work of team members for individual transactions.
  • Supervises the performance of reporting staff, provides clear direction and regular monitoring and feedback on performance.
  • Ensures the on-going learning and development of reporting staff.
Qualifications Relevant Experience & Requirements

  • Master's degree or equivalent in business, finance, accounting, marketing or other related areas; a university degree combined with specialized experience in similar organization/s may be considered.
  • Minimum 10 years relevant experience with venture capital (VC) and support of early-stage technology businesses.
  • Proven experience in managing venture capital funds, including fund administration and reporting.
  • Proven experience across the VC-investment cycle, including deal origination, conducting end to end due diligence, deal execution and portfolio management.
  • Extensive experience with building and managing new teams, including setting-up and implementing processes.
  • Experience in startups and technology, particular in cleantech, agritech, fintech and healthtech preferred.
  • Experience with impact-focused technology investments, including use of impact investment lenses and monitoring.
  • Evidence of a well-developed ecosystem of established relationship with entrepreneurs, investors, corporates and other key stakeholders in developing Asia.
  • Excellent written and verbal communication skills in English is required.
  • Please refer to the link for ADB Competency Framework for International Staff Level IS5.
General Considerations

ADB offers competitive remuneration and a comprehensive benefits package. Actual appointment salary will be based on ADB's standards and computation, taking into account the selected individual's qualifications and experience.

ADB seeks to ensure that everyone is treated with respect and given equal opportunities to work in an inclusive environment. ADB encourages all qualified candidates to apply regardless of their racial, ethnic, religious and cultural background, gender, sexual orientation or disabilities. Women are highly encouraged to apply.

Please note that the actual level and salary will be based on qualifications of the selected candidate.

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