African Development Bank Group (AfDB) – Established in 1964, the African Development Bank is the premier pan-African development institution, promoting economic growth and social progress across the continent. There are 80 member states, including 54 in Africa (Regional Member Countries). The Bank’s development agenda is delivering the financial and technical support for transformative projects that will significantly reduce poverty through inclusive and sustainable economic growth.
We are recruiting to fill the position below:
Job Title: Chief Legal Counsel – Finance Division
Position Number: 50000661
Location: Abidjan, Côte d’Ivoire
Position Grade: PL3
The Complex
- The President plans, supervises and manages the business of the Bank Group. Under the direction of the Boards of Directors, the President conducts the business of the Bank and the African Development Fund and manages operations and activities in accordance with the Agreements establishing the African Development Bank and the African Development Fund.
- The President supervises several Departments and Units including Office of the President (PRST0); Independent Development Evaluation Department (BDEV); Integrity and Anti-Corruption Department (PIAC); Compliance Review and Mediation Unit (BCRM); Secretariat to the Sanctions Appeals Board; Administrative Tribunal (BATR); Office of the Auditor General (PAGL); Group Risk Management Directorate; General Counsel and Legal Services Department (PGCL); Communication and External Relations Department; Staff Integrity and Ethics Office (PETH) and Office of the Secretary General & General Secretariat.
The Hiring Department
- The role of the General Counsel and Legal Services Department (PGCL) is to provide legal support, legal advice and services to the Boards of the Bank Group, to the President, Vice Presidents, as well as the operational, financial and administrative Departments of the Bank.
- The role of the PGCL is also to protect the interest of the Bank from legal liability and, as necessary, to provide legal defence in cases filed against or brought by the Bank.
- The Finance Division’s main activities are to provide legal and advisory services in the mobilization, investment and management of the financial resources of the Bank.
The Position
- The Chief Legal Counsel – Finance Division ensures the proper interpretation of, and compliance with the various policies, rules and regulations of the Bank in the mobilization, investment and management of the financial resources of the Bank.
Key Functions
Under the supervision and guidance of the Division Manager PGCL 3, the Chief Legal Counsel – Finance Division will:
- Support and advise the Bank’s Treasury in the negotiation and drafting of documentation for the Bank’s borrowings in the international capital and money markets, and draft or review all legal documents required for the implementation of the Bank’s borrowing strategy and debt capital markets transactions (including the issuance of the Bank’s bonds and commercial paper).
- Attend Board of Directors meetings and Senior Management committees directly related to the functions of the incumbent and provide any legal clarifications or assistance that may be required.
- Ensure that the mobilization, investment and management of the Bank’s financial resources comply with applicable Bank rules and policies.
- Prepare and review legal documentation for the Bank’s derivatives and other risk management transactions, negotiate relevant master agreements, including ISDA Master Agreements and Global Master Repurchase Agreements.
- Advise on the legal aspects of cash management, bank account agreements, anti-money laundering (know your customer) initiatives, and contracts for the custody or investment of the Bank’s financial resources.
- Draft and review legal documents concerning membership and subscription to the Bank’s capital, contributions to the African Development Fund and the creation of trust funds and special funds.
- Provide legal advice on the Bank Agreement, the General Authority on Asset and Liability Management, financial regulations, policies and rules and participate in the work of the Bank’s Asset and Liability Management Committee and its working groups.
- Issue legal opinions on regulatory, institutional and financial issues arising from the interpretation and application of the Charter of the Bank; draft legal documents relating to accession and participation in the Bank and the Fund; interpret and apply the Financial Regulations of the Bank.
- Review, revise and recommend for approval global clearing, custody, execution and repurchase agreements to facilitate the Bank’s investment and risk management transactions.
- Support and advice the Bank Group Chief Risk Officer and Asset-Liability Management Committee on the legal aspects of balance sheet optimization activities.
- Undertake such other assignments as required in furtherance of the Department’s mandate.
Competencies (Skills, Experience and Knowledge)
- Hold at least a Master’s Degree in Law or Finance, and admission to the Bar of one of the African Development Bank member countries; or a Juris Doctor (JD) and admission to the Bar of one of the African Development Bank member countries.
- A minimum of seven (7) years of relevant experience in similar jobs, preferably with a reputable international law firm, a legal department of a private or public entity, or an international financial institution with proven technical competence and experiences in the debt capital markets and banking practice.
- High level skills in communication and negotiation as well as the ability to build partnerships with a broad range of clients and deliver results that meet the needs of the Legal Service Department’s work program.
- Having private sector experience will be an added advantage.
- Seasoned knowledge in the current trends of development and familiarity with international law, and related matters within the Bank and other international organizations.
- Capacity to conceive and supervise the negotiation of complex legal documents including ISDA Master Agreements, Global Master Repurchase Agreements, and bond issues (standalone or medium-term note program).
- Ability to work and deal with sensitive issues in a multi-cultural environment and to build effective working relations with colleagues.
- Ability to communicate effectively (written and oral) in English and/or French, preferably with a working knowledge of the other.
Deadline: 23rd April, 2022.
Method of Application
Interested and qualified candidates should:
Click here to apply online
Note: This position is classified international status and attracts international terms and conditions of employment.
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