Recrutement d’un consultant pour la division des marchés de capitaux et abonnements, Abidjan, Côte d’Ivoire

REQUEST FOR EXPRESSIONS OF INTEREST

FOR ONE INDIVIDUAL CONSULTANT

AFRICAN DEVELOPMENT BANK

Avenue Jean-Paul II, 01 BP 1387, Abidjan, Côte d’Ivoire 01 BP 1387 Abidjan 01 Cote d’Ivoire Treasury Department, Capital Markets & Subscriptions Division

Title of the assignment : Consultant for Capital Markets & Subscriptions Division

Brief description of the Assignment : Assist with Capital Markets & Subscriptions activities

Department issuing the request : Treasury Department

Place of assignment : Abidjan, Cote d’Ivoire

Duration of the assignment : Six months

Tentative Date of commencement : 1 June 2021

Deadline for applications : 30 April 2021

Applications to be submitted to : Bakary Silue at b.silue@afdb.org

Any questions and requests for clarifications may be sent to : b.silue@afdb.org

Terms of Reference : Please see Annex 1 below.

 

Establishment of the Shortlist: A shortlist of three individual consultants will be established at the end the request of expressions of interest, whereby the applicants will be judged on the following criteria :

• General qualification and suitability for the assignment (20%) ;
• Experience related to the assignment (50%) ;
• Experience with international development agencies or commercial banks (20%) ;
• Language capacity (5%) ;
• Experience in the region (5%).

Please attach updated Curriculum Vitae on the basis of the template below (Annex2)

Annex 1

Terms of Reference for the recruitment of a Consultant in Treasury Department

1. Introduction / Background :

The African Development Bank (“AfDB”) is a regional multilateral development bank whose shareholders include the 54 countries in Africa and 27 non-African countries from the Americas, Asia and Europe. The Bank was established in 1964 with its headquarters in Abidjan Cote d’Ivoire. The Bank’s primary objective is to promote the economic development and social progress of its regional member countries, individually and jointly. The central goal of the Bank’s activities is promoting sustainable growth and reducing poverty in Africa. The Bank thus finances a broad range of development projects and programs.

The AfDB provides financial assistance to its member countries using resources primarily raised in the capital markets. One of the key objectives of the Treasury Department is to support the Bank’s development mandate by raising cost effective resources from the capital markets, which is facilitated by its’ triple A rating by the major rating agencies. The Treasury Department regularly accesses the major capital markets in order to issue debt and takes all necessary measures to increase investor awareness of its financial condition so as to enhance its new issuance and secondary trading activities. Treasury is also responsible for promoting the local currency capital markets.

The primary rationale for lending in local currencies relates to the reduction of foreign exchange or currency risk for the borrower. By providing local currency financing, which may necessitate local currency issuance, the Bank also contributes to the development of local bond markets by establishing reference benchmarks, encouraging best practices and catalyzing a virtuous cycle of long-term savings and development.

2. Objectives of the Assignment :

The Treasury Department is looking for a senior-level consultant that will be responsible for a series of assignments related mainly to local currency funding and local capital market development. The Assignment will entail working with the staff and management of the Capital Markets & Subscriptions Division (FITR.1) of the Treasury Department in supporting the whole local currency eco-system of the Bank

3. Main activities and deliverables :

The assignments are of the following nature :

1. Lead the revision of the 2006 Policy Framework for Bank lending in Regional Member Countries’ currencies with the aim of improving the efficiency of local currency funding ;
2. Assist with the drafting of Local Currency Papers (LCP) for each currency to be introduced as an official bank lending currency ;
3. Assist with Establishing a Medium-Term Note (MTN) Program for approved lending currencies ;
4. Support the conduct of technical studies to determine the progress of capital market development and compare with other countries ;
5. Develop a tool and reporting template, including an investor database, for monitoring capital market development in Regional Member Countries ;
6. Assist in managing the preparation and execution of local currency bond issuances and the associated approval processes ;
7. Work on the inclusion of AfDB’s local currency bonds in global bond market indices to improve market liquidity ;
8. Participate in building relationships with key stakeholders, including local banks, capital market firms, investors, and regulators, at a senior level ;
9. Assist in providing training and knowledge management services to internal and external clients ;
10. Ensure that the Bank’s issuances get the appropriate treatment by local regulators ;
11. Contribute, as necessary, to key work objectives of the division:

• Implement the borrowing program and manage liabilities through borrowing of funds from the capital markets at competitive cost levels for lending to member countries ;
• Administration of resources and subscriptions to the African Development Bank (ADB) ;
• Administration of resources and subscriptions to the African Development Fund (ADF) ;
• Administration of contributions to the Multilateral Debt Relief Initiative (MDRI) ;
• Other miscellaneous items, such as exchange rates management, administrative expense hedge and preparing documents for the credit ratings/ESG rating process or investor relations items.

4. Administration/reporting :

The consultant will report to the Division Manager.

5. Duration of the assignment :

The estimated duration of services is 6 months with the potential opportunity to extend.

1. Required expertise and qualifications : 
2. Master’s degree in Finance, Business administration; Economics, Statistics or related quantitative discipline ;
3. Minimum of five (5) years of professional experience in the International Capital Markets ;
4. Practical experience managing the public bond issuance process, and using derivatives for hedging purposes ;
5. Extensive experience in local currency funding and issuance. A knowledge of African capital markets and specificities would be a plus ;
6. Ability to develop practical and timely solutions, possess and apply knowledge and expertise in appropriate depth ;
7. Good understanding of clients, markets and needs, with a focus on local capital markets ;
8. Innovation, creativity and strong problem solving ability, to the benefit of the Bank’s clients ;
9. Ability to take ownership for projects and ensuring that output is of the highest quality and delivered in a timely manner ;
10. Excellent written and verbal communication skills in English; knowledge of French essential ;
11. Be a national of one of the member countries of the Bank.

7. Remuneration :

Remuneration of the consultant will be a function of the consultant’s experience in accordance with procurement guidelines.

8. Submission requirement :

Please attach an updated curriculum vitae on the basis of the template attached.

Annex 2

Title of the Assignment : Consultant for Capital Markets & Subscriptions Division

Department: Treasury, Capital Markets and Financial Operations (FITR1)

MODEL CURRICULUM VITAE – AFDB BAD PDF