IMPORTANT INFORMATION
This is a fixed term appointment with option to renew for an initial period of three (3) years following Section 3.1 (b) of Administrative Order No. 2.01 (\"Recruitment and Appointment'). This appointment is not convertible to a regular appointment. At the end of the initial period, this appointment may be renewed for a period of up to three years, or not renewed. There is no limit on the number of renewals. This appointment is open to internal and external applicants.
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.
This position is assigned to the Finance Sector Office (SG-FIN) within the Sectors Group (SG). SG aims to deliver impactful sector strategy, initiatives, and integrated solutions that advance ADB's strategic agenda in the region and with ADB's clients. The SG, which is comprised of seven sector offices, supports the delivery of sovereign, nonsovereign, and advisory operations; delivers knowledge services; supports regional departments (RD) and resident missions (RM) in engaging with developing member countries (DMCs); and ensures ADB's technical leadership externally and internally.
SG-FIN leads policy development and dialogue, knowledge management, project quality assurance, sector analytic work, and loan and technical assistance processing and administration in the finance sector including sustainable and climate finance. Key areas of focus are financial inclusion, capital markets and contractual savings, digital finance and innovation, and sustainable finance. Digital finance is an important driver of the rapidly changing finance sector landscape and supports ADB's innovation work, financial inclusion, and other tech-related applications, including climate change.
This position has been created as part of the Workforce Rebalancing Framework, which is a multiyear initiative (2022-2027) aimed at increasing in-house expertise in key operational areas that was previously sourced from consultants through ADB's technical assistance. The goal is to strengthen in-house expertise to enhance the quality of ADB's policy dialogue, operations, and knowledge solutions delivery by collaborating closely with DMC clients. Expected candidates are seasoned experts with strong field experience who can lead policy dialogue and project work with emphasis on providing knowledge solutions.
To view ADB Organizational Chart, please click here.
Job Purpose
The Senior Financial Sector Specialist is expected to oversee the formulation and articulation of finance sector policy and strategies, engaging Developing Member Country (DMC) governments in policy dialogue, conducting ADB's activities to support finance sector policy and reforms, lead and support financial sector operations, engage in knowledge production and dissemination, and undertake other tasks in East Asia, the Pacific, and Southeast Asia.1 The Specialist will assist the Director in overseeing the finance sector workstream and help coordinate and respond to strategic initiatives in the bank, as well as undertaking operational reviews and assessments. The position will support collaboration with ADB's regional and non-sovereign operations departments to accelerate the four shifts in ADB's New Operating Modelโrealizing ADB's ambition to be the region's climate bank; catalyzing private sector development; delivering holistic, knowledge-driven, innovative, and integrated solutions; and modernizing ADB's approach to work by becoming more efficient, agile, and collaborative.
The Senior Financial Sector Specialist will report to the Director, Finance Sector, and may supervise National Staff and Administrative Staff.
Responsibilities
Oversees and supports the development of strategies for the finance sector in DMCs, covering areas such as banking sector, non-bank financial institutions, contractual savings, capital markets, financial infrastructure, financial governance, project finance, public-private partnerships, digital finance, municipal finance, among others, in consultation with relevant government agencies and Resident Missions (RMs). Proposes, develops, oversees, supervises, and supports innovative projects and TAs in the finance sector and related operations on private sector development. Leads and supports work to explore global best practices and new innovations in the finance sector. Leads and supports knowledge production and dissemination. 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. Leads and supports quality assurance and compliance across finance sector lending and non-lending products and operations. Supports the Financial Sector to interface, coordinate, and respond to other departments and offices on operational reviews and evaluations, strategic and procedural issues, development coordination, and other activities. Leads and supports the preparation of Country Partnership Strategies (CPSs) and Country Operations Business Plans (COBPs), as needed. Maintains communications with and represents the Financial Sector in meetings with senior level government staff within the finance sector. Leads and supports regional financial cooperation in ASEAN, subregional cooperation groups, and other regional fora. Participates in external conferences and events and serves as a liaison to industry standard setting bodies. Coaches and mentors teams and individuals within the Financial Sector, and across the department as necessary to ensure their on-going learning and development. Supervises the performance of assigned staff, providing clear direction and regular monitoring and feedback on their performance. Takes other responsibilities and performs other tasks needed by the Financial Sector, the Solutions Group, and ADB.Qualifications
Relevant Experience & Requirements
Master's Degree, or equivalent, in Finance, Economics, or related fields. A university degree in related fields and at least 5 years specialized experience relevant to the position may be considered in lieu of a Master's degree. At least 10 years of relevant professional experience in finance sector development, with good knowledge of the Asia Pacific region and international experience working in several countries. Experience in emerging areas of finance, such as sustainable and climate financing, is a plus. Ability to steer ideas and projects to improve linkages between finance sector development, investment, and financial inclusion. Significant expertise within a specific area of ADB's operations (finance sector), or breadth across multiple areas with in-depth knowledge within one area. Expertise with recognized ability to lead projects and to share knowledge to benefit the broader ADB community. Ability to perform effectively as a mission leader or team leader; proficiency in supervision, coordination, and planning responsibilities over multi-disciplinary team/unit. Ability to effectively mentor and coach team members. High level of maturity and ability to serve as an effective Officer-in-Charge when required. Excellent oral and written communication skills in English. 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. External work experience of at least 2 years within the last 5 years is required. Please refer to the link for ADB Competency Framework for International Staff Level 5.
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.
Please note that the actual level and salary will be based on qualifications of the selected candidate.