Reference Number: 230505

Position Level: IS 6

Department: Sectors Group

Division: Finance Sector Office

Location: Asian Development Bank Headquarters

Date Posted: Thursday, August 31, 2023

Closing Date: Thursday, September 14, 2023 11:59 p.m. (2359 Manila Time, 0800 GMT)

IMPORTANT INFORMATION:

•  Effective 1 September 2023, the term “Standard Fixed Term Appointment” is updated to “Fixed Term Appointment with Option to Regularize.”
•  This change does not involve any modifications to the appointment terms.

This is a re-advertisement. Previous applicants need not apply. Applications received in response to previous posting will be considered together with applications received in response to this advertisement.

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.

The position is assigned to the Finance Sector under the ADB’s new Sectors Group (SG-FIN). SG-FIN supports financial sector development through sovereign initiatives to develop financial markets and enhance financial stability. Key areas of focus are financial inclusion, capital markets and contractual savings, digital finance and innovation, and sustainable finance. Sustainable finance is a primary focus of ADB and will need to be strengthened going forward to specifically incorporate initiatives through the financial sector focusing on disaster risk management and climate change adaptation and mitigation, as well as gender initiatives.

To view ADB Organizational Chart, please click here.

Job Purpose

The new sustainable finance team will contribute to the development of sustainable finance in the financial sector. It will directly support the regional teams in SG-FIN as well as other specialist teams by contributing to the formulation and articulation of finance sector strategies and policies supporting sustainable finance projects in developing member countries. The sustainable finance team will also process and implement projects with the regional teams.

The Principal Sustainable Finance Specialist will lead and develop the new sustainable finance team. The incumbent will provide strategic advice on sustainable finance issues including climate finance policy framework and capital market instruments for operations, innovative financing models, regulatory capital, and the development of resilient and inclusive financial markets. He/She will have a financial sector and sustainable finance experience and will lead in developing, implementing, and advising transactions using financing approaches to help catalyze the investments required for supporting ADB operations in gender inclusion, climate mitigation and adaptation, transition finance, and other related fields in the regions. He/She will also liaise with other parts of ADB, including private sector operations, to develop projects, products, and participate in broader policy dialogue and sustainable finance issues, including Paris Alignment. In addition, he/she will lead ADB’s engagement with international agencies in the sustainable finance space such as ICMA and GFANZ and explore how the relationship can be leveraged for operational purposes.

The incumbent will report to the Senior Sector Director of SG-FIN and have matrix reporting lines to the Regional Directors in SG-FIN. The incumbent may also supervise National Staff and Administrative Staff.

Responsibilities

a. Operational Work

•  Leads development of sustainable finance team in SD-FIN, including hiring of staff and consultants. Mentor and coach team members.
•  Jointly leads (with regional teams) processing of climate finance related operations including policy-based lending (PBL), financial institution loans (FILs), and contingent disaster financing (CDF).
•  Establishes good working relationships with regional teams and other specialized teams in SD-FIN, as well as other teams in SG.
•  Develops strategy and identifies executable programs across multiple subsectors in sustainable financing (e.g., gender or green/blue thematic bond issuances, green housing finance), and prioritize projects.
•  Works with SD-FIN regional teams and resident missions, supports country strategy partnerships, program development, and project execution at the country level to apply innovative financing approaches and to deliver sustainable financing through the finance sector in DMCs.
•  Provides policy advisory support to DMCs and relevant ADB teams in scaling up sustainable financing through the finance sector at a country level, including engagement with government and the private sector.
•  Conducts technical reviews on design and implementation of ADB’s investments in climate finance.
•  Works closely with teams to oversee the capacity development within ADB and DMCs on integrating climate elements to finance sector operations and implementation of projects.
•  Participates in meetings and consultations pertaining to climate financing and related infrastructure finance with ADB stakeholders including government counterparts and actively contribute new and/or innovative approaches to policy and operational issues.
•  Collaborates with the Climate Change and Sustainable Development Department (CCSD) in initiating measures to create market incentives towards greening of economies including aligning regulatory capital initiatives to support decarbonization of economies across Asia and the Pacific.
•  Collaborates with CCSD to develop synergy and cross fertilization on new initiatives to mobilize funding for climate change.
•  Coordinates across ADB, especially with the Private Sector Operations Department (PSOD) to achieve a “One ADB” approach to incorporating global best practices and new innovations in finance sector development.

b. Knowledge Management and Collaboration with External Partners

•  Identifies and develops knowledge products aligned to SD-FIN operations and write blogs and other media pieces on issues and challenges faced by the finance sector in climate and gender finance as well as innovative approaches to address them.
•  Leads capacity development of ADB staff in SD-FIN, as well as DMCs, on matters related to sustainable finance.
•  Participates in activities undertaken by ADB with knowledge partners, multilateral development banks and other international organizations in the area of climate finance in coordination with the other relevant ADB departments.
•  Leads and contributes to the preparation of briefing notes, speeches and other documentation as required to support management participation in regional and global platforms related to sustainable development goal finance.
•  Leads and organizes knowledge dissemination brown bags on sustainable finance for the finance team as well the Sector Group.

Qualifications

Relevant Experience & Requirements

•  Master’s degree in finance, business administration, sustainable finance, or related fields. A university degree in related fields and at least 5 years specialized experience relevant to the position may be considered.
•  At least 12 years of relevant professional experience including international work experience in sustainable finance operational work including climate finance.
•  Strong understanding of financial institutions and sustainable finance with practical experience in developing countries.
•  Expertise with recognized ability to lead projects and to share knowledge.
•  Ability to steer ideas and projects to improve linkages between finance sector development and sustainable finance and communicate to private sector and governments.
•  Strong team leadership skills with experience in mentoring and coaching team members. Ability to perform effectively as a team leader or team member; proficiency in supervision, coordination, and planning responsibilities over multi-disciplinary team/units.
•  Excellent capabilities in relationship management, strong client and impact orientation, effective communication skills, strong problem solving and solution-oriented approaches, strong ability for collaboration and teamwork, and a high degree of responsiveness and reliability.
•  Excellent written and verbal communication skills in English.
•  Please refer to the link for ADB Competency Framework for International Staff level 6.

General Considerations

The selected candidate, if new to ADB, is appointed for an initial term of 3 years.

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.