About Afreximbank: African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade.
For 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialization and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank is setting up a US$10 billion Adjustment Fund to support countries to effectively participate in the AfCFTA. At the end of December 2023, Afreximbank’s total assets and guarantees stood at over US$37.3 billion, and its shareholder funds amounted to US$6.1 billion. The Bank disbursed more than US$104 billion between 2016 and 2023. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody’s (Baa1), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB). Afreximbank has evolved into a group entity comprising the Bank, its impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure, (together, “the Group”). The Bank is headquartered in Cairo, Egypt.
Job Summary
The role is supposed to help the Bank to achieve its mission “stimulating a consistent expansion of and diversification of African trade so as to rapidly increase Africa’s share of global trade, while operating as a first class, profit oriented, socially responsible financial institution and a centre of excellence in African trade matters” by providing required support to the day to day accounting functions and all processes leading to the preparation of required IFRS compliant financial statements.
Key Responsibilities
The role of the position holder will be to assist in managing the Bank’s (Expected Credit Loss) ECL estimation process including the credit risk (impairment) models and support the preparation of management accounts and statutory financial statements for review and finalisation of the Senior Manager-Finance and the Chief Finance Officer.
- Assist in managing the Bank’s ECL estimation process including the credit risk (impairment) models;
- Review the appropriateness of output from the facility grading models;
- Work with the Finance, Banking Operations, IT, Research, Risk, Credit Quality Assurance and other relevant departments to identify and gather key credit and financial data inputs into the ECL models;
- Assist in operating the ECL models to generate impairment numbers (for inclusion in the Monthly, Quarterly and Annual Reports, Budgets, Investor Update etc.);
- Work with Head of Risk to prepare management commentaries on credit risk performance at agreed intervals;
- Assist in providing the IFRS technical guidance on impairment to the Bank.
- Maintain key interactions with the teams (i.e. Credit risk, Treasury, Banking Operations, Research, Risk, Credit Quality Assurance and IT) involved in the ECL estimation process;
- Initiate and support the enhancement of the ECL models as may be required from time to time;
- Any other duties as may be assigned by senior management;
- Any other duties may be assigned by senior management;
Compliance Responsibilities:
- Understand and adhere to the Bank's AML, Regulatory and Conduct Compliance policies and procedures;
- Report any suspicious or non-compliant activities or matters relating to the Bank’s staff or the customers to the Compliance Department;
- Complete the Annual Compliance Training/Assessment.
Minimum Qualifications
- Must have a degree in accounting, finance or other related fields;
- Relevant post graduate degree or professional qualification is a must
Years & Nature of Experience
- Must have working experience in developing and maintaining IFRS 9 ECL credit models, preferably in the banking sector;
- Minimum 3 years working experience of which at least 3 years work experience in a Big Four accounting firm will be an added advantage;
- Self-motivated and a good team player;
- Ability to lead initiatives, solve problems and succeed in a result-oriented environment;
- Ability to adapt to rapidly changing priorities;
- Proficient in Microsoft-Office suites - Excel, Word and PowerPoint etc;
- Ability to communicate and function in a culturally diverse and change oriented setting;
- Excellent verbal and written communication skills in English or French;
- Willingness to work long hours where required in order to achieve the Bank's objectives
Technical Competencies
Proficiency
- Demonstrates extensive experience and expertise within their field, operating autonomously and managing an end-to-end process within their area of responsibility. This includes effectively coordinating people and resources.
- Serves as the primary escalation point within Afreximbank for technical queries in their area, delivering finalized technical materials and solutions.
Leadership Skills
- Acts as a subject matter expert, offering technical guidance to colleagues throughout Afreximbank while upholding necessary integrity standards.
- Coaches, motivates, and mentors junior colleagues, fostering their professional growth.
- May hold formal line management responsibilities for a select group of junior professionals and clerical staff. Identifies and addresses team training needs, preparing and delivering training programs as directed by senior management.
Interpersonal Skills
- Builds and maintains effective working relationships internally and externally across various organizational levels.
- Influences decision-making at the functional level and may assist in external negotiations.
- Communicates complex technical information clearly and concisely to diverse audiences to drive results.
Problem Solving & Business Impact
- Tackles non-routine and occasionally complex problems using critical analysis, technical knowledge, and previous experience.
- Acts with flexibility as an escalation point for technical issues faced by junior colleagues.
- Contributes significantly to their function by managing a specific area or sub-function, influencing functional strategy and policies, and providing technical expertise, advice, and guidance across the organization.
Supporting Afreximbank Mandate
- Possesses a comprehensive understanding of Afreximbank’s products and services and their contribution to the bank’s values and mission.
- Holds a solid knowledge of the continent’s political, economic, and trade landscape, providing well-informed opinions both internally and to external counterparts.
- Identifies practical methods to cascade Afreximbank’s values and mission to junior colleagues and external parties.
Afreximbank’s Core Values:
- Commitment to Africa and supporting the emancipation and empowerment of Africans;
- Uncompromising integrity;
- Passion for Learning and Drive;
- Teamwork;
- Trust and Respect for the Individual;
- Innovation, Excellence and Flexibility;
- Professionalism and Responsiveness.
