Principal Legal Counsel (Finance) – African Development Bank

• Position title: Principal Legal Counsel (Finance) – GELC3
• Grade: PL4
• Position N°: 50000650
• Reference: ADB/16/080
• Publication date: 08/07/2016
• Closing date: 28/07/2016
• Country: Côte d’Ivoire

Objectives

The principal objective of the General Counsel and Legal Services Department (GECL) is to provide legal services and advice to the statutory organs of the Bank and the Fund. In addition, GECL provides legal advice on the administration, operations and financial activities of the Bank. GECL ensures that the Bank Group‘s activities and operations are consistent with the constitutive documents and other legal instruments of the Bank Group; policies, and as appropriate, with the norms and principles of international and commercial law and the best practices of international development banking.

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. These activities include the following:

• supporting and advising the Bank’s Treasury in the negotiation and drafting of documentation to effect Bank borrowings in the international capital and money markets, and drafting or reviewing all legal documents required for the implementation of the Bank‘s borrowing strategy and capital markets transactions;
• preparing legal documentation for the Bank’s derivatives and other risk management transactions, negotiating relevant master agreements and  drafting and reviewing individual transaction documents;
• advising on the legal aspects of cash management, bank account agreements, and contracts for the custody or investment of the Bank’s financial resources;
• drafting 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; and  
• providing legal advice on the Bank Agreement, the General Authority on Asset and Liability Management, financial regulations, policies and rules and participating in the work of the Bank’s Asset and Liability Management Committee and its working groups.

Duties and responsibilities

1.   Issue legal opinions on regulatory institutional and financial issues arising from the interpretation and application of the Charter of the Bank; drafting legal documents relating to accession and participation in the Bank and the Fund and the creation of special funds; interpret and apply the Financial Regulations of the Bank;

2.   Prepare all necessary documentation for the Bank’s borrowings in the international capital and money markets;

3.   Review, update and recommend for approval standard documentation, in accordance with market and industry practice, for use in derivative transactions;

4.   To provide advice on contracts for the investment of liquid assets of the Bank and the African Development Fund;

5.   Review, revise and recommend for approval global clearing, custody, execution and repurchase agreements to facilitate the Bank’s investment and risk management transactions;

6.   Propose and design appropriate amendments to the Bank Agreement and other governing instruments, such as the Financial Regulations;

7.   Provide legal advice and assistance through the Division Manager to the Bank and its operating organs on all matters of finance, investments and reporting obligations to internal and external authorities;

8.   Assist the Division Manager in the selection of local counsel to represent the interests of the Bank;

9.   Provide legal advice on matters relating to investments and financial transactions of the Staff Retirement Plan;

10.  Participate in meetings of the working groups of the Asset-Liability Management Committee;

11.  Prepare draft legal opinions for approval by supervisors on Management proposals for the Bank’s financial transactions.

Selection Criteria

Including desirable skills, knowledge and experience

1.   At least a Master’s degree in Law, plus admission to the Bar of (or diploma to practice law in) a member country; or a Bachelor’s degree plus a relevant combination of academic qualification in Law (e.g. Juris Doctor (JD) plus admission to the Bar of (or diploma to practice law in) a member country; 

2.   A minimum of six (6) years  of relevant experience, preferably with an established law firm, international organisation or financial institution;

3.   Competence in Finance Law and International Law;

4.   Competence in the use of Bank standard software (Word, Excel, Access and Power Point, SAP and/or other integrated document management system).

5.     Excellent written and verbal communication skills.  Ability to communicate in both English and French would be an added advantage.

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To apply for this position, you need to be national of one of AfDB member countries.