Manager SRP Unit – African Development Bank Group (AfDB) Jobs

Position title: Manager SRP Unit
 Grade: PL-2 Position N°: 0865 Reference: ADB/10/46 Publication date: 27/04/2010 Closing date: 23/05/2010
Objectives
The Staff Retirement Plan is the African Development Bank’s pension scheme established by Board of Governors Resolution. The Staff Retirement Plan  unit has  the following principal objectives:
  • To administer the Staff Retirement Plan of the Bank, under the direction of the Staff Retirement Plan Steering Committee,
  • To provide the required administrative support for the work of the Steering Committee, the Investment Committee, and the Pension Appeals Committee, and to liaise as necessary with  external parties providing services to the Staff Retirement Plan
Duties and responsibilities

The Manager of the Staff Retirement Plan unit shall have the responsibility for:
  • Performing all the functions of Plan Administrator as prescribed under the Staff Retirement Plan
  • Coordinating the current day-to-day business of the Plan and, subject to the other provisions of the Plan, act as the official representative of the Plan;
  • Playing a lead role in the analysis, formulation, implementation and review of the Bank’s retirement policies and objectives.
  • Coordinating and facilitating the effective functioning of the SRP Steering and Investment Committees; provide secretariat services to Committees, organize regular meetings and follow up on implementation of Committee decisions
  • Receiving all notices, requests and other documents relating to the Plan submitted by the Bank or by any beneficiary under the Plan and submitting  them, with appropriate information and recommendation, to the competent Committee for its decision, unless the authority to decide such matters shall have been delegated to him;
  • Overseeing the maintenance of such records concerning participation in, retirement under, or termination from, the Plan and any entitlement to benefits there under as shall be required for the proper administration of the Plan;
  • Authorizing benefit payments to beneficiaries as entitled by the SRP and following up benefit transfers to respective beneficiaries.
  • Following up transfers of contributions from the members and Bank to the SRP accounts.
  • Authorizing the transfer of excess capital from the SRP fund to the external asset manager for investment.
  • Managing the relationship and coordinating the activities of the SRP’s external technical service providers –scheme actuary, asset manager and ALM and investment specialists-including their selection and engagement
  • Keeping abreast with trends in the pension industry; providing authoritative technical and financial analysis and furnishing to each Committee all such information or interpretations as shall be required to enable each Committee make appropriate and informed decisions in the discharge of their mandate.
  • Preparing, for review and approval by the Committees, an annual report and financial statements of the Plan and the condition of the Retirement Fund and, upon such approval, circulating such report to the Bank and the participants;
  • Compiling and providing all data necessary for regular actuarial valuations of the fund on the basis of guidance and instructions given by the Investment Committee.
  • Managing the liquidity of the Plan and monitoring the financial movements to ensure optimal allocation of cash and makes arrangements of currency allocations for each fund
  • Fostering and maintaining professional partnerships and linkages with other international organizations and negotiating and arranging agreements for the continuation and transfer of pension rights with sister international organizations
Selection Criteria
Including desirable skills, knowledge and experience
  • At least a Masters/Post-graduate Degree in Finance and/or Business Administration.
  • At least 8 years of relevant and progressive professional experience in the areas of financial management, risk management, capital market structure, financial control, and loan administration gained within a major international organisation.
  • Excellent knowledge of the Bank’s policies, guidelines and procedures.
  • Strong sense of interpreting the above policies, guidelines and procedures, and ability to draw personal judgements serving as a basis for appropriate advice to the Vice President.
  • In-depth knowledge of financial management, risk management, capital market structure and functioning, financial control and loan administration.
  • Familiarity with operations activities, particularly in multilateral development financing operations for sovereign and non-sovereign entities.
  • Ability to communicate and write effectively in French and/or English, with a good working knowledge of the other language.
  • Competence in the use of standard software used in the Bank (Word, Excel, Access, Power Point); and knowledge of SAP is highly desirable.
Only applicants who fully meet the Bank’s requirements and are being considered for interview will be contacted. Applicants will only be considered if they submit (preferably electronically, to: recruit@afdb.org) a fully completed Personal History Form (PHF), available from the Bank’s web site, and attach a comprehensive Curriculum Vitae (CV) indicating date of birth and nationality. The President, ADB, reserves the right to appoint a candidate at a lower level. The African Development Bank is an equal opportunities employer and female candidates are strongly encouraged to apply.