Risk Officer
Washington DC, United States
JOB DETAIL
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. For more information, visit www.ifc.org.
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
• Contribute to the ongoing enhancement of IFC’s Economic Capital and Stress Testing models.
• Conduct corporate, geographic, sector-specific, or individual stress tests.
• Create and apply test cases to ensure the correct implementation of IFC’s risk model.
• Contribute to analyzing and determining the economic capital treatment for new products and initiatives, such as the expansion of local currency lending and mobilization initiatives.
• Maintain relationships with other departments to facilitate management of IFC’s financial risks and development of effective tools for risk-based decision making.
• Support the estimation and validation of IFC’s risk parameters such as default probabilities (PD), loss estimates (LGD), and exposure (EAD).
• Support internal clients for questions on economic capital treatment.
While the position’s main responsibilities will be in the areas of economic capital and stress testing, the candidate is also expected to work closely with other CRM teams on other risk-related assignments as required.
Selection Criteria
• A Master’s or higher degree in statistics, mathematics, or quantitative finance (or equivalent skills);
• At least 5 years of work experience in a quantitative role within a financial institution;
• Experience handling large economic and financial data sets (for example, using SQL, Python, Excel, or other statistical applications) as well as developing and applying statistical approaches to gain information and answer specific questions based on the available data;
• Experience building or working with quantitative models, preferably in areas such as stress testing, economic capital, credit risk, market risks in the banking book, rating models, or the estimation of risk parameters (such as PD, LGD, or CCF);
• Experience with developing, implementing, and operating portfolio risk models is considered a plus;
• Experience with current regulatory practices (Basel, US GAAP, IFRS) is considered a plus;
• Good written and oral communication skills, including the ability to document complex analyses and statistical results in straightforward terms;
• A strong work ethic and a solid team player to work in the international and multicultural work environment within CRMCA and across the IFC; organizational skills and the ability to multitask, meet tight deadlines, and work efficiently in multicultural teams;
• 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.
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