Principal Risk Officer - Market Risk

 Description

IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities. Our mission is to leverage the power of the private sector to end extreme poverty and boost shared prosperity on a livable planet.

The Corporate Risk Management Department (CRM) is responsible for comprehensive risk management at a corporate level, including Market  Risk, Credit & Counterparty Risk, Risk Strategy, Model Risk, Data Analytics, Enterprise Risk, Operational Risk, and Business Continuity. 

CRM is currently seeking a Principal Risk Officer, Financial Risk to lead the Market and Liquidity Risks functions. This role involves conducting a thorough risk analysis, generating policies, procedures, and comprehensive market risk reports, collaborating closely with other departments such as Treasury, Operations, and Accounting, and overseeing a team of risk professionals.

The Principal Risk Officer, Market and Liquidity Risk will report to the CRM Director and will be part of the CRM Leadership Team. 

Duties and Accountabilities

The Principal Risk Officer, Financial Risk will:

•  Lead and manage the CRM Market and Liquidity Risk (CRMMR) team, ensuring the achievement of objectives and workplan through effective hiring, performance management, mentoring, and career guidance.

•  Coordinate with various stakeholders across IFC, including Treasury, Credit and Investment Risk, Corporate Portfolio Management, the Controller's department, and other regional and industry departments, to support the financial sustainability and risk management activities of the Corporation.

•  Develop and implement robust risk management strategies and frameworks to proactively identify and mitigate Market Risks and ensure that IFC meets the highest standards of liquidity.

•  In coordination with the Credit & Counterparty Risk team, proactively identify and mitigate risks in the derivatives and liquid asset portfolio, ensuring robust Treasury policies.

•  Strengthen, lead, or collaborate with other CRM teams in designing risk policies for balance sheet management, ALM and local currency initiatives.

•  Generate detailed market risk reports, providing accurate and timely information on risk exposures, trends, and potential impacts.

•  Conduct comprehensive risk analysis, utilizing advanced risk modeling techniques and tools to assess the potential impact of various risk factors.

•  Monitor risk parameters and ensure strict compliance with IFC's risk appetite and internal policies.

•  Contribute to due diligence with rating agencies for their assessment of IFC's ratings, serving as an expert on rating agency methodologies and analytics.

•  Provide independent oversight and assessment of market risks within IFC's trading and banking portfolios.

•  Act as a source of expertise for IFC's management team, Board, staff, and external partners (including rating agencies and investors) on aspects of IFC's financial sustainability frameworks, including those related to the G20 Capital Adequacy Framework Review.

•  Build a network of external relationships with other Multilateral Development Banks (MDBs) and stakeholders in the field of risk management.

•  Lead teams conducting regular risk assessments to identify potential risks and vulnerabilities.

•  Monitor key risk indicators and develop early warning systems to alert senior management to emerging risks.

•  Stay updated on industry best practices and emerging trends in financial risk management, incorporating relevant insights into IFC's risk management framework.

Selection Criteria

•  Master's degree in finance, economics, or a related field, with a minimum of 12 years of relevant experience.

•  Extensive experience in financial risk management, with a strong focus on Market and Liquidity Risks.

•  Proficiency in Financial risk modeling techniques and tools, with the ability to analyze complex risk factors and assess potential impacts.

•  Strong understanding of financial markets, products, and instruments, including derivatives and structured products.

•  Familiarity with financial risk management frameworks and practices; knowledge of IFC policies, procedures, guidelines, and financial instruments is a plus.

•  Excellent written and oral communication skills in English, including the ability to present technical issues in a clear and concise manner and engage with senior-level audiences.

•  Ability to develop senior-level relationships and build networks within and outside IFC.

•  Excellent leadership and people management skills, openness to feedback, and ability to guide staff towards problem-solving.

•  Strong track record in providing intellectual leadership, managing and developing talent, and motivating staff.

•  Sound business judgment, with a demonstrated ability to deliver results under short timetables and high-pressure environment.

•  Commitment to maintaining the highest ethical standards.

•  Strong interpersonal, relationship-building, and diplomatic skills.

•  Meet Bank-wide managerial selection criteria, including courage of convictions, leading the team for impact, influencing across boundaries, fostering openness to new ideas, and building talent for the future.

The World Bank Group offers comprehensive benefits, including a retirement plan; medical, life and disability insurance; and paid leave, including parental leave, as well as reasonable accommodations for individuals with disabilities.

We are proud to be an equal opportunity and inclusive employer with a dedicated and committed workforce, and do not discriminate based on gender, gender identity, religion, race, ethnicity, sexual orientation, or disability.