Principal Risk Officer
Washington DC, United States
JOB DETAIL
Description
IFC—a member of the World Bank—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 in developing countries. In fiscal year 2023, IFC committed a record $43 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit www.ifc.org.
Within IFC, the Corporate Risk Management Department (CRM) is responsible for risk management at a corporate level: this includes Capital Management and Enterprise Risk, Operational Risk and Business Continuity, Treasury Risk and Investment Valuation. CRM’s Capital Management and Enterprise Risk division (CRMCA) measures the current and projected risks in IFC’s investment portfolio to ensure IFC’s ongoing financial sustainability.
CRMCA is conducting a search for a Principal Risk Officer to lead and provide technical supervision on methodologies, tools, and infrastructure, working closely with the CRMCA Manager.
Duties and Accountabilities:
• The Lead Risk Professional will be responsible for providing expertise and leadership in analyzing and mitigating financial risks, ensuring the organization’s financial sustainability, developing risk-based pricing models, and possessing superb quantitative and technical abilities to support risk management efforts.
• Be a source of expertise in Balance sheet optimization, forecasting, pricing, and stress-testing.
• Lead analysis on IFC’s financial sustainability, based on Board and senior management requests, and serve as a source of expertise on different drivers of IFC’s financial sustainability and capital adequacy, including work in connection with the G20 Capital Adequacy Framework (CAF) Review.
• Play a lead role in reviewing and enhancing current models and methodologies in forecasting models, capital adequacy, pricing, and stress testing.
• Play a leading role in the engagement with rating agencies for IFC’s rating, forecasting IFC’s financial position under rating agency methodologies, and acting as a source of expertise on rating agency approaches to rating MDBs.
• Be a mentor to more junior colleagues and provide training and knowledge sharing opportunities within the team.
• Provide technical leadership for the assessments for new investments, including development of approaches for new products, and act as a source of expertise for investment staff.
• Collaborate seamlessly with Treasury Risk to uncover synergistic opportunities.
• Support dissemination of best practices within the department.
Selection Criteria
• Master’s degree in a related field and at least 12-15 years of relevant experience. Related fields of education include Mathematics, finance, data science, business analytics, or economics or an area of expertise specific to a sector, subject matter, or industry specialty. Relevant experience could include a consistent track record in business consulting or investment banking, or operational experience in the sector or technical or professional field.
• Proven experience (at least 12 years) in financial risk management, financial forecasting, risk-based pricing models, and superb technical skills in financial modeling and data analysis.
• Expertise in financial statement analysis and modelling.
• Expertise in Balance Sheet Risk Management.
• Thorough knowledge of IFC or World Bank policies, procedures, guidelines, and financial instruments, is a plus.
• Knowledge of IFC’s portfolio and operations is a plus.
• Excellent written and oral communication skills in English are essential, including the ability to present technical issues in simple and straightforward terms.
• Ability to lead projects and to present results across VPUs.
• Ability to apply a practical approach to problem solving, produce high quality work outputs, effectively prioritize, insatiable curiosity when exploring data, and adaptability to competing and unexpected demands.
• Proficiency in programming languages such as Python, R, or similar for quantitative analysis.
• Demonstrated ability to undertake diverse tasks within rapidly changing and demanding environment on short deadlines.
• Demonstrated ability to work across organizational boundaries and to function effectively both as a team lead, a member of a team and individually as required.
• Should be a self-starter, with a demonstrated high level of initiative and comfortable working in a fast-paced environment.
• Commitment to maintain the highest ethical standards.
• Strong interpersonal, relationship building and diplomatic skills.
• People management skills.
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.
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