THE YOUNG PROFESSIONALS PROGRAM OF THE ASIAN INFRASTRUCTURE INVESTMENT BANK
OF THE YP PROGRAM
- SELECTION PROCESS
What is the AIIB Young Professionals Program?
A Young Professionals Program (“YPP” or “Program”) has been established this year to recruit and develop a cadre of outstanding Young Professionals (“YPs”) in the early stages of their careers to contribute to the realization of the Bank’s mission. The AIIB’s mission is to i) foster sustainable economic growth, create wealth and improve infrastructure connectivity in Asia by investing in infrastructure and other productive areas; and ii) promote regional cooperation and partnership. The selected YPs’ skill sets, academic experiences, motivation and passion will complement the expertise and experience of the Bank’s seasoned mid-career and senior staff.
Selected YPs will work with the Bank’s staff to develop, enhance and leverage their professional skills and expertise while acquiring hands-on experience. Working with clients in Asia’s public and private sectors, YPs will gain a deep understanding of, and broader perspectives on the Region’s infrastructure development and financing challenges and opportunities. AIIB is a new and dynamic organization. As it grows and matures as an institution, its first cohorts of YPs will have unique opportunities to contribute to the realization of its mandate, and to help to shape its institutional development. During the Program, the YPs will receive mentoring, training, career guidance and development opportunities to enable them to grow and develop professionally.
With the launch of the YPP in 2017, the first batch of YPs will work primarily in the Bank’s investment operations, policy and strategy, and finance/treasury/risk departments. Applicants who wish to pursue careers in other specialized areas (e.g., communications, legal affairs, administration, etc.) should apply through the Bank’s regular recruitment channels.
The Bank is currently in the second year of operations and is, itself, going through the process of on-boarding a sizeable segment of its career professional staff, nurturing its corporate culture and refining its modus operandi. Against this backdrop, the Program will therefore be considered as being pilot in nature during the first 3 years. Program implementation will be monitored annually, with technical adjustments made, as appropriate to institutional requirements, during the pilot phase. A comprehensive structural review and evaluation would be carried out after the Bank has gained 3 years of implementation experience.
Who are we looking for?
The Bank seeks candidates who:
- are committed to and passionate about the Bank’s mission
- are motivated self-starters and independent thinkers
- possess excellent quantitative, analytical and problem-solving skills and the ability to think conceptually
- can explain complex ideas - orally and in writing - succinctly and persuasively
- demonstrate effective interpersonal and teamwork behaviors
- have sound judgement
- can operate successfully in a multi-cultural organization.
The following criteria must be met:
- Age: YPs must be under age 32 (i.e. born on or after October 1, 1985). No exceptions will be made to this age limit.
- Education: a minimum of an MBA/Master’s degree or equivalent from an internationally recognized institution. Degrees in finance/banking; business administration; economics; energy; transportation; engineering; urban planning; water and sanitation; environmental management; telecommunications, accounting; and public policy, are preferred.
- Experience: a minimum of 2 years full-time, relevant professional work experience (excluding summer jobs and internships). Work experience in regional integration initiatives; urban planning; energy, including renewables and energy efficiency; transportation, including roads, railways, ports, and airports; roads; environmental management, telecommunications; water, sanitation and waste management; and other infrastructure-related fields is valued.
- Communications: The Bank’s working language is English. Successful candidates should be fully fluent in both written and oral English and have excellent communications skills. YPs must be able to produce English language documentation at the standard expected in an international organization. Shortlisted applicants will be required to take an English language proficiency test. Proficiency in other Asian regional languages is valued.
- Expertise: Specialization in a field such as investment banking, project and micro/macro-economic analysis, treasury management, strategy and policy development, risk analysis, etc.Candidates with experience in areas which will support AIIB’s institutional priorities, i.e. sustainable infrastructure, cross-country connectivity and private capital mobilization, are encouraged to apply.
The Program will focus its recruitment efforts on identifying YPs with strong skills that can be immediately put to use, and professionally developed during the Program tenure and beyond.
Candidates should satisfy any national military service obligations, if applicable, before applying or must obtain a deferment of at least 3 years.
What do we offer?
Contract: YPs admitted to the Program will be offered a two-year contract with a competitive salary and benefit package. The first year of the Program is probationary. Upon successful completion of the full two-year Program, based on performance and institutional needs, high-performing YPs may be offered a 3-year renewable staff contract.
Insurance Programs: YPs and their families will be provided options of comprehensive medical, dental, vision and wellness benefits. The Bank also provides basic life and accident insurance to all YPs at no cost, and YPs can elect optional life insurance plans.
Pension Plan: YPs are entitled to retirement benefits under the defined contribution plan. Upon separation from the Bank, a lump sum will become payable to the YPs based on eligibility.
Flexibility Allowance: At entry, YPs will receive a flex allowance of 2/3 of $50,000. Following successful Program completion YPs who are offered 3-year renewable staff contracts will receive the 1/3 flex allowance balance.
Location Premium: The location for service by the YPs is the AIIB Headquarters in Beijing. YPs will be provided location premium as a supplement to compensate for working and living in Beijing. Currently it is expressed at 18% of base salary.
Grade Level: YPs will enter as an entry-level professional (Grade 6) in the Bank. Upon successful completion of the two-year Program, YPs who are offered 3-year renewable staff contracts may be promoted to Grade 7.
Features of the YP Program
Rotations: The YP Program will last two years. The Program will comprise 3 rotational assignments of approximately 8 months each. During those assignments YPs will be exposed to a range of tasks and activities primarily in the investment operations; policy and strategy; and financial/risk/treasury departments.
YPs are expected to perform at a professional level and demonstrate mastery of core technical competencies from entry-on-duty. Each YP assignment will be tailored to the YP’s skills set and areas of expertise. YPs will work under the supervision and guidance of managers and senior technical staff. At least one of the 3 rotations will be in the Bank’s Investment Operations Department.
- During the rotational assignments in the Investment Operations Department, YPs will be exposed to and work on investments in various stages of the project cycle. YPs may participate as full team members using their expertise and skills in such areas as project identification and fact finding, appraisal, the review and approval processes, and implementation supervising. YPs will also be exposed to the Bank’s environmental and social assessment framework, project financial and economic investment analyses, as well as procurement and disbursement principles and processes.
- In the Policy and Strategy field, assignments may focus on country programming, profile, sectoral and sub-sectoral analytics and needs assessments, and engagement with AIIB’s partners, and other stakeholders.
- YPs may also undertake assignments with the Bank’s Financial and Risk complex, supporting its treasury, financial policy, and risk functions.
Depending on institutional need, and individual skills sets, YPs may occasionally take a rotational assignment in other Bank departments (e.g., Administration, the Corporate Secretariat, Communications, Human Resources, and the Office of the General Counsel).
Upon Program graduation, it is anticipated that the majority of the successful YP graduates will take-up regular assignments in the Investment Operations, Policy and Strategy, or Finance and Risk areas.
Training: YPs will receive an intensive orientation to the Bank i.e. on its institutional foundation, policies, practices, corporate culture, and staff regulations and rules. During rotational assignments, YPs will receive on-the-job training and gain experience under the supervision and guidance of seasoned experts. YPs will be eligible to participate in the Bank’s in-house training programs and course offerings. In rare circumstances, on a case-by-case basis, external training in a specific area may be considered.
Mentorship: Upon joining the Bank each YP will be assigned an individual mentor (a member of the Bank’s senior staff) who will provide informal support, counsel and mentoring to help the YP adjust to the Bank and also to living in Beijing. Mentorship will continue throughout the duration of the Program.
Performance Assessment: Each rotational assignment will have a clearly defined developmental plan with specified performance goals. Overall performance will be assessed through a fair and transparent process. The Bank’s Performance Management Framework equips managers with the tools to support staff in reaching their full potential. YP performance will be evaluated in broad alignment with the performance measurement system that is applied to the Bank’s regular staff.
In exceptional circumstances, a YP may be requested to remain in the Program for an additional rotational assignment for further professional development and assessment.
What is the selection process?
The selection process will be managed by the Human Resources Department through competitive processes.
For the pilot 2017 Program, 8 – 12 YPs will be offered admission to the Program. In subsequent years, Program intake size will be proposed for Board approval in the Bank’s annual Business Plans.
During the pilot phase, only one YP will be selected per nationality. Given the small YP intake size during the pilot phase, the Program will contribute to the Bank’s staff diversity but it will not be the primary channel for broadening its overall diversity profile. As the Program matures and grows, depending on institutional need, consideration could be given to strategic YP recruitment initiatives, including special attention to recruitment of under-represented nationalities.
|April 10– May 31, 2017||- Application period
- Select campus visits
|May 31, 2017||- Application deadline|
|June 2017||- Review of all applications (Video pre-screening interviews may be conducted)|
|July 2017||- YPP interviews (Finalists will be invited to Headquarters for interviews)
- Exams and assessments will be conducted
|August 2017||- Decision and offers communicated|
|November 2017||- Entry-on-board of first batch of YPP recruits|
The application process for the 2017 Young Professionals Program is now closed.