Risk Policy Officer

Vacancy Number: 1821

Job Profile

Under the supervision of the Director, Market Risk, Operational Risk & Policies (MOP), the Risk Policy Officer develops, implements and maintains the OPEC Fund’s risk management framework comprising of policies, processes, and methodologies, and supports the development of the IT infrastructure for risk management, all in accordance with the institutional risk framework, in order to prevent, minimize, and mitigate risk.

Duties and Responsibilities

Policy development and implementation

• Develops, implements and maintains risk management policies, methodologies, processes, and systems for identification, measurement, mitigation, and reporting of the risks in OPEC Fund’s operations (capital adequacy, credit risk, and provisioning).
• Produces the data, analysis and reports required for quarterly risk reporting, financial statements, and rating agency data submissions.

Risk management and analysis

• Develops and enhances risk models and methodologies for measuring various risks in OPEC Fund’s operations.
• Develops, implements and maintains risk rating methodologies and tools for a structured credit risk analysis.
• Ensures the consistency of rating assignments and tests the predictive power of OPEC Fund’s rating tools.
• Develops and maintains OPEC Fund’s tool for Risk-Adjusted Return on Capital (RAROC) pricing of credit transactions.
• Advises on risk policy and methodology matters.
• Supports IT projects and other specialized projects to meet risk management requirements.
• Assists in developing and maintaining risk data and analysis for use by key stakeholders, including member countries, bond investors, rating agencies, and regulators.
• Assists in the administration of the risk management committee, including coordination and preparation on meeting schedules, agenda, materials, and minutes.

Research and analysis

• Researches and analyzes various matters related to risk management to ensure alignment of OPEC Fund’s risk policies and methodologies with industry best practices.

Reporting

• Co-leads the preparation of quarterly and annual risk management report and risk sections of financial statements.
• Co-leads the preparation for data and analysis required for annual rating agency exercise.
• Lead the calculation of Expected Credit Loss calculation.
• Carries out other tasks assigned by the Director, Market Risk, Operational Risk & Policies (MOP).

Qualifications and Experience

• Master’s degree in Accounting, Finance, Economics or equivalent professional qualification.
• A minimum of seven (7) years of relevant banking experience, including at least two (2) years of experience with global or regional banks, fund managers, or multilateral/ bilateral development financial institutions, with focus on development of risk policies, methodologies, and IT systems.
• Fluent in English. Good working knowledge of French, Arabic, German or Spanish is an added advantage.

Competencies

• Excellent analytical and evaluation skills.
• Strong understanding of risk management principles and systems.
• High initiative and able to work independently, as well as with team members, in a collaborative environment.
• Strong interpersonal, teamwork and communication skills with high level of integrity and drive for achieving results.
• Demonstrable ability to work in an international multi-cultural environment, with sensitivity and respect for diversity.