The Government of Mongolia has received financing from the Asian Development Bank (ADB), Green Climate Fund (GCF) and High-Level Technology Fund (HLT) toward the cost of the Ulaanbaatar Green Affordable Housing and Resilient Urban Renewal Project (AHURP). The objective of the project is to transform the highly climate-vulnerable and heavily polluting peri-urban areas of Ulaanbaatar (ger areas) into low-carbon, climate resilient and affordable eco-districts. More information about the project can be obtained from https://www.adb.org/projects/49169-002/main.
The Municipality of Ulaanbaatar (MUB) will act as Executing Agency, with responsibility for implementation supported by one Project Management Office (PMO) and one Project Implementation Unit (PIU). The “DBM asset management SC” LLC (DBM-AMC) will serve as PIU and will be responsible for the establishment and management of the Eco-district and Affordable Housing Fund (EDAF) and the implementation of the FIL component of the project.
- FINANCE RISK SPECIALIST
- Scope of work
The Finance Risk Specialist/Analyst will be responsible for carrying out overall financial and investment risk management activities of the project under the supervision of the Fund manager and ensure that risk management and compliance operation is conducted in accordance with the policies and procedures of the Government of Mongolia (GOM) and ADB. The Finance Risk Specialist/Analyst will report to fund manager, and if applicable, MUB, Ministry of Finance (MOF) and ADB.
- Detailed Tasks and/or Expected Output
The Finance Risk Specialist/Analyst will report to the Fund manager and perform following duties, but not limited to these only:
- develop the existing risk management practices and ensure greater coordination and more focused risk management across the PIU and EDAF; designing and implementing an overall risk management process for the PIU, which includes an analysis of the financial impact on the PIU and EDAF when risks occur and establishing the level of risk, the PIU are willing to take;
- developing the financial models, payment schedules and risk evaluation of the green bond contracts to be established with qualified commercial banks;
- ensure that EDAF’s operations are adhering to prudential requirements, relevant laws, rules and regulations, provide expert analysis and proposals for risk management and mitigation, provide consistent reports to the fund manager and fund shareholders;
- conducting the due diligence, financial assessment and cash flow analysis of the financial capacity of building developers in accordance with PAM;
- conduct due diligence, risk analysis and assessments on real estate, mortgage loans, land valuations.
- assist the finance, investment and compliance experts foreseen under the Sustainable Green Finance Support consulting package to identify project risks and set up a risk management system /RMS/ to be used during the implementation;
- ensure that the project’s risk management plan is implemented and updated as needed based on the project’s implementation progress; and prepare periodic updates to the risk managements plan under the guidance of the MUB, ADB and Steering Committee and undertake the relevant approval processes for finalization and constantly report to the project stakeholders;
- undertake the setting up of financial and risk management system and application of investment portfolio management and risk management planning and reporting and have responsibility for compiling and preparing the program financial and risk management progress reports as required by ADB;
- provide relevant inputs to the formulation of the project implementation documents;
- ensure that the project’s financial and risk management action plan is implemented and updated as needed based on the project’s implementation progress;
- ensure compliance with the financial covenants of the project and reviewing any new major contracts or internal business proposals and building risk awareness amongst staff by providing support and training within the PIU;
- provide any other risk management related support not mentioned above, but related to the project, as assigned by the Fund manager and executive management;
- Periodic (monthly, quarterly, yearly) financial reports, financial and disbursement plans and other necessary financial management documents;
- Required Qualifications, Skills, Expertise and Experience
- Minimum of Bachelor’s degree in finance, banking and other relevant disciplines; (preferable if candidate is a holder/candidate of FRM, CFA program)
- Minimum of 5 years relevant experience to project implementation, risk management, financial administration, and other related work experience;
- At least 3 years of practical experience in project management or risk management-related work experience in projects financed by ADB and other international financial institutions;
- Experience working to regulatory and project deadlines and maintaining effective strategic partnerships with key stakeholders, internal and external;
- Strong background in and understanding of the governance and compliance obligations of the investment and asset management companies and a solid understanding of project implementation policies and procedures adhered by the Government of Mongolia and ADB;
- Strong commercial and financial awareness in the planning of large-scale complex and varied portfolio.
- Excellent communication, interpersonal and team work skills; and
- Strong oral and written Mongolian and English proficiency;
Application Submission Procedure:
Interested candidate should apply consisting of the following documents, prepared in English and Mongolian language:
- Cover letter explaining the reasons for applying to the position, describing how the candidate’s qualification, skills and work experiences meet the selection criteria
- Curriculum Vitae
- Two reference letters from previous employers, and
- Notarized copies of all diplomas and certificates;
All documents should be enclosed in a sealed envelope that indicates the applied position, and delivered to the below address by 12:00 PM on 28 April 2022.
Attn: Мs. Zolboo Bayarkhuu, Administration division of Development Bank of Mongolia
Address: Sukhbaatar District, Peace Avenue 19 Ulaanbaatar Mongolia
Please note that the submitted documents will not be returned to the applicants. Only short-listed candidates will be contacted.