Under the guidance of the Head of ORMC, the Senior Risk Specialist is expected to make significant contributions that will lead to an efficient and effective identification, monitoring, and management of risks in funding proposals and funded activities under implementation. S/he will also collaborate with Risk Specialists responsible for program reviews and Enterprise Risk and with colleagues across the Secretariat. S/he will also coordinate the preparation of knowledge management products through the development of case studies, documentation of best practices and/or lessons learnt.

Purpose

• Lead the review of existing and development and launch of new credit and investment risk management policies, procedures, and guidelines.
• Lead the development of credit and investment risk methodologies or models -as required- for an adequate utilization of different financial instruments [e.g. loans, guarantees, (quasi) equity] being employed by the Fund.
• Lead the design -in conjunction with others within/out of the Fund- of effective risk analytics to measure, quantify and predict investment and credit risks. This includes mining any existing big data in the Fund that may be readily available and defining additional data points that warrant collection.

Engagement

• Build, strengthen and manage relationships with peers in the Fund to contribute to the adaptation of credit and investment risk management frameworks and promote credit risk management culture in the Fund.
• Cultivate credit and investment policy best practice through fostering relationships with peer organizations to draw on the latest knowledge and approaches.
• Lead, as relevant to the position, the gathering and/or review of data or inputs from internal stakeholders for the development and implementation of the relevant risk management approaches and methodologies.

Delivery

• Enhance existing and develop new policies, guidelines, procedures, methodologies, tools or models for an adequate utilization of different financial instruments [e.g. loans, guarantees, (quasi) equity].
• For the loan portfolio, specifically assume the coordination of the implementation of the Fund’s credit risk management framework, including any actions related to credit risk rating, limits, provisioning and/or write-offs, and for estimating expected credit losses (ECL) and the computation of adequate credit provisions.
• For the equity portfolio, specifically define any necessary tools or methodologies for assessing and mitigating valuation risks and other risks associated with this instrument.
• Develop and implement stress testing methodology and periodic portfolio monitoring reports to senior management considering results from risk analytics.
• Prepare knowledge management products through the development of case studies, documentation of best practices and/or lessons learnt, including capacity building within ORMC and across the Fund.
• Perform other tasks assigned by the Head of ORMC.

Requirements:

• Advanced university degree in finance, economics, engineering, business administration or other relevant field; or a bachelor’s degree with additional 2 years relevant experience.
• Eleven (11) years of relevant experience with an international financial institution or multilateral development bank.
• Proven track record in successfully developing and implementing credit and investment risk policies, methodologies and analytical tools is required.
• Experience of covering various financial instruments, loan, guarantee and equity, is preferred.
• CFA or FRM certification or any other equivalent certified qualification is preferred.
• Experience with developing countries or with multilateral development banks (including their risk frameworks and/or risk policies) is an added advantage.
• Exposure to climate change financing and knowledge of Fund’s working modalities is an added advantage.
• Excellent analytical, problem-solving and negotiation skills, as well as an ability to work under pressure and tight deadlines.
• Proven relationship management & interpersonal skills complemented by an ability to work in a multicultural environment and excellent ability to articulate & present ideas well both in writing & orally to a diverse audience of stakeholders at technical & strategic levels.
• Unquestionable integrity and adherence to the highest ethical standards.
• Excellent written and oral communication skills in English are essential for this position; knowledge of another UN language would be an advantage.