European Bank for Reconstruction and Development (EBRD)
Purpose of Job
Independently analyse and appraise the risks of EBRD’s new and existing portfolio of corporate and project finance debt transactions; identify required due diligence, recommend appropriate risk mitigation measures and transaction structures, including security, covenants, and pricing. Advise bankers and the Bank’s Committees to ensure that banking projects comply with the Bank’s sound banking mandate. The Principal Risk Officer reviews portfolio projects, assigns credit ratings and communicates trends in the portfolio and lessons learned to management and peers for their broader strategic decision-making and bottom-up stress-testing. The Principal Risk Officer is responsible to lead and coach junior Credit Managers, analysts and junior bankers rotating through Corporate & Project Finance Credit Risk Management Team.
There will be a requirement for the successful candidate to be placed upon joining the bank on a short term assignment to London for a period of 1 year.
Risk Management is the Bank’s second line of defence, which is responsible for the independent identification, reporting and mitigation of risks. The Principal Risk Officer provides advice and presents recommendations to the Operations Committee, Small Business Investment Committee (SBIC)/ approves projects together with the Banking department under Delegated Authority, addressing credit concerns, remuneration, and seeks to minimise losses.
Facts / Scale
- Corporate & Project Finance Credit Team comprises one Director, two Associate Director, Heads, 11 Associate Director, Senior Risk Officers,  Principal/Associate/Analyst Credit Managers, up to  Bankers on rotation. In 2020 CPF staff provided an independent review, approval recommendation and structuring advice for more than 500 corporate and project finance debt proposals, monitored and provided portfolio management recommendations on 850 counterparties representing (as of June 30 2021) a portfolio of €31.1bn and operating assets of €20.3bn.
- Each Principal Risk Officer is responsible, with the support of junior managers, up to ~ 80 projects from inception to final repayment, as well as supporting the Country and FI Credit Risk Team with country portfolio input as required.
Accountabilities & Responsibilities
The Principal Risk Officer will work with varying levels of supervision depending on his/her experience and the relevant task on the following:
- Establish an independent and unbiased view on projects proposed to the Operations Committee / SBIC / under Delegated Authority and make clear recommendations, or approvals, on each proposal.
- Analyse the key risks of each proposal and advise on risk mitigation measures, structures, tenor, security, covenants and condition precedents, to the project teams and, via credit notes. Review integrity and anti-money laundering issues to ensure compliance with internal guidelines and advise on referral to the Office of the Chief Compliance Officer as required. Be versed in climate risk issues that has an effect on new and existing operations, including risk mitigation and reputational issues. Appraise the validity and reliability of key assumptions of each proposal, including via involvement in the commissioning and review of independent due diligence and travel.
- Ensure projects comply with any relevant risk guidelines and prudential limits set by the Bank, and that appropriate ratings are assigned for probability of default and loss given default. Have the ownership of Risk data in the area of responsibility.
- Exercise independent delegated authority regarding portfolio actions (including certain waivers and amendments), and recommendations to senior management on matters requiring higher level approval (including transfers to corporate recovery, provisions and more significant restructuring, etc.).
- Lead proactive and regularly monitoring of the assigned portfolio counterparties arranged in sector clusters, countries (with a key responsibility for a/ several country/ies across the whole of Corporate & Project Finance Credit Risk Management) and market developments. Actively and constructively engages with Banking and other relevant staff to ensure adequacy of front-line monitoring, coach Banking representatives when appropriate (including rotation in Corporate & Project Finance Credit Risk Management).
- In liaison with Risk Policy and Reporting, Climate Risk and other Credit teams lead sector portfolio reviews and provide input to portfolio stress-tests. Collaborate with other members of staff; especially in the Banking Department, Finance, the Office of the General Counsel and the Office of the Chief Economist to ensure effective cross-departmental and business functioning.
- Participate in various executive Bank committees – including the Operations Committee, SBIC, RiskCom etc.
- Participate and contribute positively to various initiatives within Risk Management or bank-wide.
- Be an agent of credit culture dissemination, including mentoring of bankers on rotation.
Knowledge, Skills, Experience & Qualifications
- Influencing skills in overseeing the Banking team’s structuring of the transaction and articulation of any different views.
- Experience of structuring high yield loans and other financial instruments, in both corporate and project finance.
- May act as the risk expert for specific corporate sectors and provide operational guidelines to the Banking teams and provide input into project selection and prioritisation.
- Knowledge of emerging markets, CIS, CEE and SEMED.
- Deliver clear authoritative conclusions in the context of large volumes and tight timescales. Proven skills and track record in decision-making capacity in credit risk in high risk environments.
- Strong written and spoken communication skills and good Excel knowledge.
- Advanced degree in finance, business, economics or equivalent on the job training.
- Demonstrate developing people management skills for junior staff under his/her coaching/ mentoring responsibility.
- Relevant risk management experience is essential.
- Ability to analyse and size up projects rapidly and to make authoritative recommendations.
- Ability to build rapport and understanding with bankers and gain their respect by presenting sound arguments based on evidence.
- Ability to deliver information in the right format to differing groups by having effective writing and verbal skills.
- Willingness to find and share technical knowledge about international best practice, specific industry, country or projects.
- Solution-orientated approach and a collaborative working style, ability to understand and awareness of the perspectives of others.
What is it like to work at the EBRD?
Our agile and innovative approach is what makes life at the EBRD a unique experience! You will be part of a pioneering and diverse international organisation, and use your talents to make a real difference to people’s lives and help shape the future of the regions we invest in.
The EBRD environment provides you with:
- Varied, stimulating and engaging work that gives you an opportunity to interact with a wide range of experts in the financial, political, public and private sectors across the regions we invest in;
- A working culture that embraces inclusion and celebrates diversity;
- An environment that places sustainability, equality and digital transformation at the heart of what we do.
Diversity is one of the Bank’s core values which are at the heart of everything it does. A diverse workforce with the right knowledge and skills enables connection with our clients, brings pioneering ideas, energy and innovation. The EBRD staff is characterised by its rich diversity of nationalities, cultures and opinions and we aim to sustain and build on this strength. As such, the EBRD seeks to ensure that everyone is treated with respect and given equal opportunities and works in an inclusive environment. The EBRD encourages all qualified candidates who are nationals of the EBRD member countries to apply regardless of their racial, ethnic, religious and cultural background, gender, sexual orientation or disabilities. As an inclusive employer, we promote flexible working.