Senior Financial Sector Specialist

23 May, 9:00 p.m. to 24 May, 1:00 a.m. (Manila time)The ADB Career and Employment System will be unavailable during this time due to a system maintenance activity.

Candidates are advised to complete necessary transactions prior to the scheduled downtime. Job DescriptionDescriptionJoin Our Mission to Foster Prosperity in AsiaAre you ready to make a lasting impact on 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 RelationshipThe position of Senior Financial Sector Specialist (Insurance) is assigned to the Financial Sector Office (FIN) within Sectors Department 3 (SD3).

SD3 aims to deliver impactful sector strategy, initiatives, and integrated solutions that advance ADB's strategic agenda in the region. SD3, which is comprised of the Finance Sector Office (FIN), Human and Social Development Sector Office (HSD) and Public Sector Management and Governance Sector Office (PSMG): delivers or supports sovereign, nonsovereign, and advisory operations; delivers knowledge services; supports regional departments (RDs) and resident missions (RMs) in engaging with ADB's developing member countries (DMCs); and ensures ADB's technical leadership internally and externally,FIN leads policy development and dialogue, knowledge management, project quality assurance, sector analytic work, and loan and technical assistance (TA) processing and administration in the financial sector. You will be based at our Headquarters in Manila, Philippines.

You will report to Senior Director, Financial Sector and will supervise junior team members. The selected candidate will be appointed with the title "Senior Financial Sector Specialist". Your RoleAs a Senior Financial Sector Specialist (Insurance), you are expected to oversee the formulation and articulation of finance sector policy and strategies, engaging Developing

Member Country (DMC) governments in policy dialogue, conducting ADB's activities to support finance sector policy and reforms, lead and support financial sector operations, engage in knowledge production and dissemination, and undertake other tasks in the regions. You will be assigned to a thematic team covering capital markets, insurance and contractual savings. The focus of this position will be on insurance and contractual savings.

As such, you will develop projects, design and implement technical assistance, and knowledge products in coordination with FIN's regional teams. You will collaborate with ADB's regional and non-sovereign operations departments. You will:Oversee and support the development of strategies for the finance sector in DMCs, covering the areas of contractual savings and insurance in consultation with FIN team members, relevant government agencies, and Resident Missions (RMs).

Lead and coordinate across ADB, especially with the Private Sector Operations Department (PSOD), to achieve a "one ADB" approach to incorporating global best practices and new innovations in finance sector development. Serve as the focal point for the Sector, leading coordination with other departments and offices on operational reviews, evaluations, strategic and procedural issues, development coordination, and other activities. Maintain communications with and represent the Financial Sector in meetings with senior-level government staff within the finance sector.

Propose, develop, oversee, supervise, and support innovative projects and TAs supporting insurance sector and contractual savings markets development and related operations on private sector development. Lead and support work to explore global best practices and new innovations in the finance sector with a focus on insurance and contractual savings. Develop and implement insurance and pensions sector development strategies in accordance with international standards to diversify the financial sector and ensuring long term financial stability and resilience against financial shocks.

Enhance insurance offerings by integrating disaster risk assessments using enhanced risk modeling data to reduce the protection gap. Design innovative insurance products, pilot them for scale-up, and utilize digital technology (Insurtech). Lead and support knowledge production and dissemination.

Support the preparation of Country Partnership Strategies (CPSs) and Country Operations Business Plans (COBPs), as needed. Analyze and assess the financial performance of insurance companies and their investment portfolios, focusing on linking savings with capital market development and crowding in long-term funds for investments in resilient infrastructure. Participate in external conferences and events and serve as a liaison to industry standard-setting bodies.

Perform other duties as may be assigned and reflected in staff's workplan. QualificationsYou will need:Master's Degree, or equivalent, in Finance, Economics, or related fields; or University degree and at least 5 years specialized experience relevant to the position can be considered

At least 10 years of relevant professional experience in finance sector development, preferably with a multilateral bank, with good knowledge of the Asia Pacific region and international experience working in several countries. Experience in merging areas of finance, such as sustainable development and/or contractual savings. Ability to steer ideas and projects to improve linkages between finance sector development, investment, and financial inclusion.

Expertise with recognized ability to lead projects and to share knowledge to benefit the broader ADB community. Ability to perform effectively as a mission leader or team leader; proficiency in supervision, coordination, and planning responsibilities over multi-disciplinary team/unit. Excellent oral and written communication skills in English.

Excellent capabilities in relationship management, strong client and impact orientation, effective communication skills, strong problem solving and solution-oriented approaches, strong ability for collaboration and teamwork, and a high degree of responsiveness and reliability. Two years of relevant experience outside ADB within the past five years is required. Years as an ADB-engaged consultant or contractor are considered experience outside of ADB.Please refer to the link for ADB Competency Framework for Technical International Staff Level 2.

ADB offers competitive compensation and a comprehensivebenefits 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 PlanPaid leave (including parental)Medical and health benefits

Life and other insurance plans

Additional InformationThis position is crucial to the Workforce Rebalancing Framework (2022–2027), a strategic initiative aimed at enhancing ADB's in-house expertise previously sourced from the external workforce. The role seeks seasoned experts with substantial field experience capable of leading policy dialogue, and projects focused on delivering knowledge solutions. Successful candidates may occasionally undertake short-term assignments in other groups or departments when required.

This is a fixed term appointment with option to renew for an initial period of 3 years following Section 3.1 (b) of Administrative Order No "Recruitment and Appointment').

This appointment is not convertible to a regular appointment. At the end of the initial period, this appointment may be renewed for a period of up to three years, or not renewed. There is no limit on the number of renewals.

This appointment is open to internal and external applicants. About UsAsian 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 its

Strategy To view ADB Organizational Chart, please click here . ADB seeks 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.

Primary LocationDepartment : Sectors Department 3Division : Finance Sector OfficeStaff Category : Technical International (HQ)Job PostingJob Posting: 22-May-2025, 6:50:27 AMClosing Date (Period for Applying) - External