The World Bank

World Bank in Washington, United States

Risk Management Officer

Job #: req19981

Organization: World Bank

Sector: Climate Change

Grade: GF

Term Duration: 3 years 0 months

Recruitment Type: International Recruitment

Location: Washington, DC,United States

Required Language(s): English

Preferred Language(s): Closing Date: 11/30/2022 (MM/DD/YYYY) at 11:59pm UTC

Description

Do you want to build a career that is truly worthwhile? 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 and promoting shared prosperity. With 189 member countries and more than 120 offices worldwide, we work with public and private sector partners, investing in groundbreaking projects and using data, research, and technology to develop solutions to the most urgent global challenges. For more information, visit (link)

The Climate Investment Funds (CIF) – one of the world’s largest multilateral funds – utilizes climate financing to help low and middle-income countries accelerate low-carbon, climate-resilient development. CIF supports an inclusive and just climate-smart future, focusing on diverse partnerships that de-risk green markets and unlock additional investments and financing. To date, 14 contributor countries have pledged over US$11 billion to CIF, which is leveraging an additional US$62 billion in co-financing in 72 recipient countries. Since its start, CIF has worked in the areas of clean technologies, energy access, climate resilience, and sustainable forests. And now, after identifying the next frontier of climate challenges, CIF is investing in five new areas: the transition from coal, climate smart cities, nature-based solutions, industry decarbonization, and renewable energy integration.

The CIF’s success is premised on a solid partnership with national governments, citizen groups and communities, private sector sponsors, the CIF governing bodies, and the five multilateral development banks that serve as co-financiers and implementing agencies of the CIF.

At the center of this collaboration is the CIF Secretariat is a 35-person secretariat hosted by the World Bank which supports the work of the CIF governing bodies including strategy and policy development as well as reporting; manages internal and external institutional relations as well as strategic partnerships; supports program development; delivers a large program of thought leadership, knowledge and learning work; is responsible for portfolio risk management and new private sector capital mobilization modalities and initiatives.

The CIF Secretariat is looking to further strengthen its team through the recruitment of a Lead – Partnerships and External Relations.

Note: If the selected candidate is a current Bank Group staff member with a Regular or Open-Ended appointment, s/he will retain his/her Regular or Open-Ended appointment. All others will be offered a 2-year term appointment. Duties and Accountabilities: The Risk Management Officer is a member of the CIF AU Risk and Portfolio Management Team, reporting directly to the Senior Risk Management Officer. Key responsibilities supporting the risk and portfolio management functions include but are not limited to the following.

  • Construct and perform complex financial modeling of credit risk, cash flows, risk adjusted capital and financial viability of proposed strategic initiatives for raising funds from alternative sources to existing CIF donors
  • Develop quantitative stress tests and scenario analyses to factor in the impacts of various adverse events (e.g. natural disasters, military conflict, pandemics) on credit exposures, project disbursements and loan reimbursements
  • Analyze, forecast and report project disbursements and reflows at a portfolio-level for the ‘CIF’s various programs
  • Perform data analyses and quality reviews and support the development of the ‘CIF’s information management system
  • Oversee the updating and maintenance of key risk metrics and indicators as reported via the ‘CIF’s Risk Management Dashboards to ensure the Trust Fund Committees and Subcommittees maintain access to current risk-related information

  • Draft slides to facilitate reporting of information captured in the semiannual Risk Reports to the Trust Fund Committees and Subcommittees
  • Monitor, update and report credit ratings, probabilities of default, loss given default and expected losses that rating agencies and implementing entities assign to the ‘CIF’s loan recipients
  • Perform stress testing and scenario analyses on the expected credit-related losses associated with ‘CIF loan portfolio
  • Monitor CIF program/subprogram project implementation progress and milestones, and report implementation risk metrics and key risk indicators
  • Liaise with IT, Finance and Accounting, Treasury, the ‘Trustee’s Office, Legal and Implementing Entities to facilitate risk management-related and strategic initiatives
  • Support the identification, prioritization and implementation of key business and workflow improvements in CIFAU work
  • Respond to ad hoc requests from the Senior Risk Management Officer
  • Represent the Risk Management function in internal and external meetings and events as requested by the Senior Risk Management Officer

Selection Criteria

a) Highly proficient in performing complex financial modeling b) Highly proficient with Excel formulas and coding to support financial modeling c) Firm understanding of credit risk and corresponding metrics d) Understanding of economic and risk-adjusted capital concepts e) Direct experience working in a financial capacity with a growing global fund or partnership with multiple donors and implementing entities f) Familiar with accounting and financial reporting concepts g) Excellent communication and presentation skills h) Excellent attention to detail i) Strong work ethic j) Works effectively with considerable autonomy under pressure to deliver high-quality results in a timely manner; ability to relate to people at all levels of an organization with excellent communication, listening, and judgment skills; highly collaborative k) Willingness to work on a diverse array of projects

Education / Experience:

l) Master’s degree related to quantitative or financial mathematics or econometrics and or successful completion of the CFA designation m) Experience working for medium to large, fixed income issuers, or a financial regulator is a plus n) Minimum 12 years of working with capital markets finance, or risk management with significant focus on finance o) Experience working in climate change projects or programs desired p) PRM or FRM designation a plus

The ideal candidate will bring extensive technical finance experience in an international setting.

Note: If the selected candidate is a current World Bank Group Staff Member with a Regular or Open-Ended appointment, they will retain their Regular or Open-Ended appointment. If the selected candidate is a current World Bank Group Staff Member with a Term appointment that expires later than the end date of this appointment, they will retain the duration of their current Term appointment

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.

Tags: capital markets, climate change, climate resilience, climate smart, development banks, econometrics, extreme poverty, financial reporting, information management, natural disasters, parental leave, project implementation, renewable energy, risk management