Risk Officer

 

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), under the Corporate Risk & Financial Sustainability Vice-Presidency, provides corporate-wide portfolio and risk oversight of IFC’s debt, equity, and treasury portfolios, as well as managing IFC’s overall capital position and financial sustainability.  Within CRM, the Risk Strategy (CRMRS) team oversees the corporation’s economic capital framework, risk-adjusted performance measurement, stress testing, climate risk, and ALM. CRMRS is conducting a search for a motivated Risk Officer to join an international dynamic team based in Washington, DC.

Duties and Accountabilities:

• Drive the analysis, review, ongoing enhancement of CRMRS’s risk models, with particular focus on the estimation and allocation of Economic Capital, individual and portfolio-wide Stress Testing, risk-adjusted performance measurement.
• Organize and lead projects to develop models, tools, and policies for risk management across IFC’s investment portfolio and Treasury exposures,
• Conduct IFC’s corporate, geographic, and sector-specific stress tests
• Develop proposals for the economic capital treatment for new products and initiatives, such as expansion of local currency lending and mobilization initiatives.
• Mentor and support junior members of the CRM team
• Maintain relationships with other departments and participate in joint working groups to facilitate management of IFC’s financial risks and development of effective tools for risk-adjusted decision making.
• Collaborate with IFC’s accounting teams on methods and assumptions for quantification of loss provisions under CECL.
• Monitor and analyze the quality of IFC’s rating system, including the maintenance of IFC’s risk parameters for PDs and LGDs.
• While the focus of the position will be on economic capital and stress testing, the candidate is also expected to work closely with other teams within CRM on other risk-related assignments as required. 

 

Selection Criteria

• An advanced degree (such as MSc/MBA or PhD) in finance, economics, or mathematics (or equivalent);
• 8+ years of work experience in risk management, including direct experience with developing and using risk models in the context of stress testing, economic capital.
• Understanding of challenges and risk management framework in private lending operations is considered a plus, such as measuring of risk-adjusted returns, FTP systems.
• Experience with the performance review of rating systems, as well as the estimation/validation of risk parameters (PD/LGD), is considered a plus;
• Experience with loss provisioning under CECL is considered a plus;
• Excellent written and oral communication skills, including the ability to present technical issues in simple and straightforward terms;
• Skills to operate and guide junior staff in the usage of (one or more of) Python, R, Matlab, SQL, or other statistical tools; experience with other programming languages (e.g. VBA, Java) is a plus.
• A strong work ethic and a solid team player to work in the international and multicultural work environment within CRMRS and across the IFC;
• Organizational skills to deliver on complex topics, with tight deadlines;
• Strong interpersonal skills, attention to detail and resourcefulness; 

World Bank Group Core Competencies

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.

Learn more about working at the World Bank and IFC, including our values and inspiring stories.