Principal Remedial Management Specialist at Asian Development Bank

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Full Time

Start Date

Immediate

Expiry Date

16 Dec, 25

Salary

0.0

Posted On

17 Sep, 25

Experience

10 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Remedial Management, Risk Mitigation, Corporate Recovery, Financial Analysis, Legal Due Diligence, Stakeholder Engagement, Valuation Models, Workout Strategy, Negotiation, Debt Transactions, Equity Transactions, Best Practices, Monitoring, Mentoring, Strategy Implementation, Problem Recognition

Industry

International Trade and Development

Description

Join Our Mission to Foster Prosperity in Asia Are you ready to make a difference in the future of Asia and be a catalyst for positive change? We are thrilled to offer a unique opportunity to become an important part of the prestigious Asian Development Bank (ADB). At ADB, our mission is simple yet powerful: to alleviate poverty and promote sustainable development in the Asia-Pacific region. Organizational Setting and Reporting Relationship The position of Principal Remedial Management Specialist is assigned to the Remedial Management Unit (RMOD-RMU) within the Office of Risk Management. You will be based at our Headquarters in Manila, Philippines. You will report to Advisor, RMOD and Head, RMOD-RMU and will oversee technical local staff. Your Role As a Principal Remedial Management Specialist, you will (i) oversee the Watchlist (early identification) portfolio, (ii) formulate and advise risk mitigating / corrective account strategies with Private Sector teams, (iii) oversee strategy implementation to ensure early problem recognition and resolution of stressed exposures, (iv) manage nonperforming debt and guarantee transactions and impaired equity investments, using industry best practices; (v) develop recovery strategies for impaired transactions, secure necessary credit approvals, and provide regular updates on such transactions to ADB's senior management and the Board; (vi) coordinate with internal stakeholders to ensure that implementation of workout strategies is consistent with the broader strategies of ADB in the sector or country; (vii) promote best practices and effectively disseminate lessons learned across ADB; (viii) represent RMOD-RMU in ADB's governance forums; and (ix) serve as OIC during Head, Remedial Management Unit's absence from headquarters. You will: a. Remedial Accounts Identify assets in the early stages of stress that require elevated risk designation. Working with Private Sector teams, develops appropriate risk mitigating or effective exposure reduction strategies. Lead the implementation of approved strategies. Monitor progress and recommend appropriate changes in ratings and designation for debt transactions and establish fair value for stressed equity transactions. Determine the appropriate timing for downgrading to impaired status. b. Corporate Recovery Facilitate the transfer of assets deemed nonperforming or impaired or in risk of becoming nonperforming or impaired, from operational departments in a structured and documented fashion. Conduct financial and legal due diligence and analysis on nonperforming and impaired or potentially nonperforming and impaired transactions, including stakeholder engagement and development of financial and valuation models. Develop, document, and present exit strategy (e.g. sale, restructuring, liquidation, or any combination thereof) in the form of a work out strategy for approval within ADB. Implement approved workout strategy. Initiate and contribute to all phases of the corporate recovery process, including negotiations with the obligor and other creditors for debt or relevant stakeholders for equity. Determine appropriate rating and accrual status for debt transactions and establish fair value for impaired equity transactions. Prepare corporate recovery plans to include recommendations on when to realize losses, release any rights/security interests, and make material changes in transactions. Present updated reports for each nonperforming or impaired transaction to ADB's Investment Committee on a quarterly basis, or more frequently due to a material change. Calculate loan loss provisions and equity impairment estimates for each nonperforming or impaired transaction. Stay current with and promote best practices in early problem recognition, remedial, and recovery operations. c. Others Help refine the Watchlist (early identification) review process for the non-sovereign portfolio. Assume ad hoc project tasks and other forms of assignments including but not limited to providing(i) mentoring to reporting staff and ensure their ongoing learning and development; and (ii) support to other divisions and units in ORM as and when needed for special projects and tasks. You will need: Master's degree or equivalent in finance, business administration, economics or other related fields; or University degree and at least 5 years specialized experience relevant to the position may be considered in lieu of a Master's degree. At least 12 years of relevant experience and demonstrated technical and diverse competence relevant to the assigned areas. Expertise in equity and debt instrument valuations and business operational turnarounds. Substantial remedial and recovery experience across several markets, preferably with experience in Asia. Experience evaluating individual loans, guarantees, and direct and indirect equity transactions under a corporate recovery perspective; and familiarity with industry best practice in corporate recovery and corporate restructuring, with legal frameworks and bankruptcy laws would be an advantage. Written and verbal proficiency in English. International experience working in development in several countries. Please refer to the link for ADB Competency Framework for TI3. Benefits ADB offers a rewarding salary and a comprehensive benefits package. The salary will be based on ADB's standards and comparator markets, taking into account your qualifications and experience. Housing and education allowance (if applicable) Expatriate benefits (if applicable) Retirement plan Medical and health benefits Paid leave (including parental) Life and other insurance plans Staff development Relocation (if applicable) Additional Information This appointment is open to internal and external applicants. This is a fixed-term appointment for an initial fixed period of 3 years. At the end of the initial period, this appointment may, at the option of ADB, be extended once for up to 2 years, converted to a regular appointment, or ended on its expiration date. This decision will be made in the overall interest of ADB that: (a) it will require Staff's particular blend of skills and experience in the foreseeable future; and (b) Staff's performance is satisfactory and they are suitable for further employment. About Us Asian Development Bank (ADB) is an international development finance institution headquartered in Manila, Philippines and is composed of 69 members, 50 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 our Strategy 2030. ADB only hires nationals of its 69 members. To view ADB Organizational Chart, please click here. ADB wants 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. Visit ADB Careers FAQ for more information. #LI-Onsite

Responsibilities

Oversee the Watchlist portfolio and formulate risk mitigating strategies with Private Sector teams. Manage nonperforming debt and guarantee transactions, ensuring early problem recognition and resolution of stressed exposures.