African Development Bank Announces New Management Shakeup

African Development Bank  Group has announced the appointment of Mr. Nourredine Lafhel as Acting Chief Risk Officer, effective 6th April 2020 and Mr. Pepin Vougo as Acting Director, Corporate Information and Technology Department effective 1 April 2020.

Lafhel, a Canadian national, is currently the Sovereign Credit and Market Risk Division Manager (PGRF3), in the Directorate of the Group Risk Management Function of the African Development Bank Group. An experienced risk management professional, Nourredine has more than twenty (20) years of experience in finance and risk management. He is a proven leader in the development of innovative solutions and strategies for balance sheet optimization, capital adequacy and market risk management. He has worked in several continents including North America, Middle East and Africa.

In his role as Division Manager, Nourredine, has had extensive experience in reviewing market risk, sovereign portfolio reports, sovereign credit policy and the Bank's credit policy and graduation. He has been instrumental in defining the Bank's economic capital requirements for market, credit and operational risk. In particular, Nourredine was part of the team that developed the Room to Run initiative - the Bank's innovative $1 billion synthetic securitization deal.

Pepin Vougo has more than 20 years of experience in technology and its application. He is a seasoned executive with depth and breadth of experience in delivering complex technology solutions on an international scale. He benefits from both private sector and MDB experience.

Pepin has been with the African Development Bank for 7 years, first as Infrastructure and Telecommunications Manager and then as Business Solutions Development Manager in charge of the Bank's Application Development portfolio. As well as delivering numerous successful online applications to help digitize the Bank, he led the development of the 2017-2021 Digital Strategy.

Prior to the African Development Bank, Pepin was Deputy Division Chief at the International Monetary Fund (IMF) where he was responsible for IT service delivery to over 100 offices around the world. He oversaw an IT budget of USD 12 million (capital) and USD 11m (operating) and managed a team of over 100 people. He launched important initiatives while at the IMF, delivering major cost-saving successes for the institution, as well as measured improvement in IT client experience and satisfaction.

Before joining the IMF, Pepin's career was in leading private sector companies. He was a Vice-President of Engineering with JP Morgan Chase from 2006 to 2009, in charge of the Global Software & Configuration Management Group supporting over 5,000 developers worldwide. Pepin also led a major workforce reconfiguration exercise, to allow the company to respond to a rapidly changed economic context. Pepin started his career with Symantec, as an Application Integration Engineer. He left as IT Operations Manager for the Information Security and Compliance line of business, supporting over 2000 developers globally.

Pepin holds a Master of Business Administration from St Thomas University in Houston, Texas and a Bachelor of Science in Electrical Engineering from the University of Houston.