Model Risk Consultant
Location: Washington DC – Headquarters
The IDB Group is a community of diverse, versatile, and passionate people who come together on a journey to improve lives in Latin America and the Caribbean. Our people find purpose and do what they love in an inclusive, collaborative, agile, and rewarding environment.
About this position:
IDB Invest is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social, and environmental development in the region. With a portfolio of $20.9 billion under management and ~500 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries.
The Financial and Operational Risk division is looking for a professional with financial model development and validation background, specifically in asset valuation and asset pricing models, to support IDB Invest management with the governance of model risk. The candidate is expected to be a knowledgeable, proactive, self-starter and actively contribute to the development of automated reports, models, processes, and controls related to the function.
The Financial and Operational Risk Management Division, part of the Risk Management Department, is responsible for managing financial and operational risks of IDB Invest. The team is divided into four main groups:
This position is to work in the Model Risk and Capital Adequacy team, reporting to its lead. The candidate will play a key role in developing and improving the team’s risk management capabilities. The position will require combining risk management knowledge, experience with the building and the verification and challenge of financial models, coding skills, good understanding of IDB Invest’s policies and limits, project management skills to interact with IT and excellent hands-on attitude to develop and improve reports and controls in Excel, Power Point, Power BI. The candidate is expected to have team spirit, proactivity, intellectual curiosity, adaptability, and strong desire to be part of the IDB Invest.
What you’ll do
Primarily on asset valuation models (private equities, debt securities,…) and under little supervision, you will execute the model validation/assessment program prepared by the team lead. This will include, but will not be limited to:
v Collecting and assessing the quality of model documentation produced by model owners (Microsoft Word/PowerPoint and pdf presentations, spreadsheets, codes, etc.);
v Verifying the relevance and the quality of the model data and its sources;
v Evaluating the appropriateness of the model’s conceptual soundness, assumptions or approach and its calibration;
v Replicating the model’s results;
v Proposing and applying testing methods to verify the model’s performance (e.g. model back-testing/benchmarking);
v Producing alternative approaches and benchmarks to challenge the model and its data;
v Identifying model gaps and issues, along with severity and remediation actions;
v Defending the validation findings in Working Group and higher level committees.
v Documenting the Model Validation Templates.
What you’ll need:
Key skills
Requirements
Opportunity Summary:
What we offer
The IDB group provides benefits that respond to the different needs and moments of an employee’s life. These benefits include:
· A competitive compensation packages.
· Leaves and vacations: 2 days per month of contract + gender- neutral parental leave.
· Health Insurance: the IDB Group provides a monthly allowance for the purchase of health insurance.
· Savings plan: The IDB Group cares about your future, depending on the length of the contract, you will receive a monthly savings plan allowance.
· We offer assistance with relocation and visa applications for you and your family when it applies.
· Hybrid and flexible work schedules.
· Development support: We offer learning opportunities to boost your professional profile such as seminars, 1:1 professional counseling, and much more.
· Health and wellbeing: Access to our Health Services Center which provides preventive care and health education for all employees.
· Other perks: Lactation Room, Daycare Center, Gym, Bike Racks, Parking, and others.
Our culture
At the IDB Group we work so everyone brings their best and authentic selves to work, willing to try new approaches without fear, and where they are accountable and rewarded for their actions.
Diversity, Equity, Inclusion and Belonging (DEIB) are at the center of our organization. We celebrate all dimensions of diversity and encourage women, LGBTQ+ people, persons with disabilities, Afro-descendants, and Indigenous people to apply.
We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job interview process. If you are a qualified candidate with a disability, please e-mail us at diversity@iadb.org to request reasonable accommodation to complete this application.
Our Human Resources Team reviews carefully every application.
About the IDB Group
The IDB Group, composed of the Inter-American Development Bank (IDB), IDB Invest, and the IDB Lab offers flexible financing solutions to its member countries to finance economic and social development through lending and grants to public and private entities in Latin America and the Caribbean.
About IDB Invest
IDB Invest, a member of the IDB Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social, and environmental development in the region. With a portfolio of $20.9 billion in asset management and ~500 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries.
Follow us:
https://www.linkedin.com/company/idbinvest/
How to Apply
Step 1: Please re-read this job description from the beginning to the end.
Step 2: Click the APPLY FOR JOB button at the end of this job advert.
Step 3: After going to parent website, please read instructions carefully and ensure you apply as soon as possible.
Good luck!