ABOUT THE COMPANY:

non profit

JOB SUMMARY

 Description

Do you want to build a career that is truly worthwhile? Working at the World Bank Group provides a unique opportunity for you to help our clients solve their greatest development challenges. The World Bank Group is one of the largest sources of funding and knowledge for developing countries; a unique global partnership of five institutions dedicated to ending extreme poverty, increasing shared prosperity, and promoting sustainable development.

Visit www.worldbank.org.

The Chief Risk Officer (CRO) Vice Presidency of the World Bank is the core unit responsible for institutional risk oversight, including establishment and monitoring adherence to risk policies and guidelines and risk assessment and reporting to the Board and executive management.  Its mission is to enable and support the institution to achieve its goals in a financially sustainable manner.

The VPU assists management with identifying and managing Group-wide cross-cutting risks, enhancing risk response decisions, reducing financial and operational surprises and losses, seizing opportunities and improving deployment of capital.   The CRO Vice Presidency comprises three Departments:  1) Credit Risk (CROCR); 2) Market & Counterparty Risk (CROMC), and 3) Operational Risk (CROOR).
CROOR which operates under the Group CRO has key responsibilities that cover (i) Operational Risk Management, including Oversight, Challenge and Direction for Operational Risks; (ii) Corporate Insurance Management (iii) Business Continuity and Resilience; and (iv) Enterprise Risk Management and Risk Governance.

Operational Risk Management:

Operational risk is defined as the risk of loss resulting from inadequate or failed internal processes, people, systems, or from external events (Basel, 2011) and is distinct from the Bank’s risk in operations.

Business units are the first line responsible for managing the day-to-day operational risk within their business functions; the operational risk unit is the second line and auditors (internal and external) are the third line and are responsible for providing assurance on the Bank’s operational risk management program. As the second line, CROOR is responsible for providing oversight and guidance to business units to manage operational risks and report to management and the board on the overall operational risk profile of the Bank and the status of risk management initiatives.

Roles & Responsibility:

The risk officer will support the Operational Risk Department in the following activities.

Enterprise and Operational Risk Management

• Advise clients on implementing the corporate enterprise and operational risk frameworks.
• Design and lead risk management initiatives that include assessing the risk and developing appropriate risk management strategies that is in line with the Bank’s risk appetite.
• Develop and implement business unit strategy to further enhance risk management capabilities of the business units.
• Guide business units to identify, assess, prioritize, monitor, and report enterprise and operational risks in their functional areas.
• Review adequacy of the risk mitigation measures taken by the units and play the challenge role leveraging industry good practice.
• Review risk submissions from business units and analyze internal and external operational risk data and prepare summary for discussing with the units and various stakeholders.
• Monitor key risk indicators and events that impact the operational risk profile of business units and follow up with business unit liaisons as appropriate
• Support Risk Governance related activities including supporting the secretariat for the ORC.
• Contribute to the preparation of quarterly risk reports prepared for various stakeholders.
• Perform research on various thematic areas to understand operational risk landscape that includes trends, emerging risks, good practices, regulatory changes etc.
• Provide advice and guidance to business units to mitigate or reduce risk.
• Provide support to programs designed to create risk culture across the WBG.
• Participate in designing, testing, and implementing new and current technology solutions.
• Perform any other duties or responsibilities consistent with the employee role and assigned by the management.

The Risk Officer position will be based in Washington DC and will be reporting to the Manager, CROOR.

Selection Criteria

• Master’s degree or equivalent in a business or finance related discipline.
• Minimum of 5 years practical experience in ORM especially in the second line function with additional experience in management consulting firms.
• Expert knowledge on ORM frameworks and processes.
• Experience in guiding business units to implement risk management frameworks and initiatives.
• Exposure to preparing risk reports for various stakeholders.
• Demonstrated experience in analyzing and interpreting data and presenting in a concise manner.
• Working knowledge of Governance, Risk and Compliance systems.
• Working knowledge of various reporting tools such as Business Objects and Tableau.
• Exposure to using Artificial Intelligence and Machine Learning based solutions is highly desirable.
• Proven ability to lead teams and projects.
• Proven ability to learn new areas such as climate, Artificial Intelligence etc.
• Proven ability to deal with confidential matters and with discretion.
• Outstanding interpersonal skills to interact effectively with colleagues, various levels of client staff and management.
• Exceptional communication skills, written and oral, including the ability to explain and express views/opinions articulately and confidently.
• Demonstrate high level of motivation, confidence, integrity, and responsibility.
• Be a self-starter; take initiative and be able to work autonomously.
• Willingness to travel on short-term assignments.
• The flexibility to work outside normal office hours as may be required from time-to-time.

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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