Treasury & Risk Lead/Senior Specialist - Senior Risk Officer
Established in 1959, the Inter-American Development Bank ("IDB" or "Bank") is the main source of financing for economic, social and institutional development in Latin America and the Caribbean. It provides loans, grants, guarantees, policy advice and technical assistance to the public and private sectors of its borrowing member countries. The Office of Risk Management (RMG) is responsible for overseeing and strengthening the Bank's capacity to identify, measure, and manage financial and operational risks. Within RMG, the Treasury Risk Management Unit (RMG/RMT) oversees the management of risks in the Bank's Treasury portfolios, including analyses and recommendations to adjust risk boundaries in guidelines and policies/strategies, quantitative modeling and analytics, risk assessment and monitoring, and risk control and reporting. RMG/RMT is currently looking for a talented Senior Risk Officer to lead and implement initiatives and work programs in the area of investment risk management. Key Accountabilities The candidate will lead the development of innovative and effective risk management solutions to support the Bank's treasury risk management activities in a highly complex and dynamic financial market environment. S/he will be responsible for work programs and projects to help strengthen the framework for measuring, assessing and managing treasury risks, by carrying out the main functions listed below: Develop proposals to formulate effective risk guidelines and limits for IDB's investment portfolio consistent with Board-approved policies, and advise if current risk limits and metrics should be revised in response to changing market conditions or business needs. Lead and coordinate the review and update of the strategic asset allocation framework to guide investment portfolio strategies, working with RMG/RMT and Treasury Division staff. Lead the assessment and monitoring of investment portfolio risks, applying risk measures such as Value-at-Risk, risk sensitivities, and stress testing to enable senior management to have a comprehensive view of risk positions, market conditions, and the impact of new initiatives. Define and enhance stress scenarios for the investment portfolio, and assess their appropriateness to facilitate understanding of extreme risks and associated implications. Manage the approval process for new issuers and/or counterparties in coordination with Treasury and Credit Risk Unit staff. Lead the periodic risk assessment of structured investment products, including asset-backed and mortgage-backed securities. Collaborate with Risk Management and Treasury working groups involved in the analysis of select securities or counterparties of concern, and recommend ways of mitigating risks identified. Lead market surveillance efforts to evaluate developments in global macro-economic factors and relevant asset types and sectors that may impact the risk profile of Treasury portfolios. Lead working groups and teams involved in implementing various risk management projects and initiatives, including new investment products and local currency treasury operations. Manage processes and use of analytical tools by junior staff in carrying out tasks related to investment portfolio performance and risk measurement. Provide technical guidance to more junior staff, coaching and mentoring them to build technical expertise. Build on best practices, and maintain internal networks to enhance risk awareness and expand knowledge in the Treasury and Risk area of expertise. Represent RMG internally and externally. Collaborate with other senior RMG/RMT staff on initiatives and work programs to manage derivative portfolio risks as needed. Work independently with minimal oversight. Qualifications Education: Master's degree in Finance, Business Administration, Economics, Statistics, or a related discipline. Additional Chartered Financial Analyst (CFA) designation preferred. Experience: [i] Minimum of 8 years of relevant experience in Treasury, capital markets, portfolio management, or in managing risks of fixed income and derivative portfolios; [ii] demonstrated experience in investments or derivatives is required, with experience in both areas a plus; [iii] outstanding analytical and problem-solving skills, with a clear ability to add value to the risk management process through creative thinking and in-depth and disciplined analyses; [iv] proven ability to apply broad and deep knowledge of international financial markets and products to address the financial risks of multi-currency investment, funding, and derivative portfolios; [v] seasoned in the use of financial models as well as quantitative techniques; [vi] knowledge of relevant banking regulation, including regulatory frameworks such as Basel II / III; [vii] demonstrated ability to lead project teams and risk management functions; [viii] ability to draft well-written, coherent analyses and proposals to senior management and to engage senior decision-makers on complex risk issues. Excellent interpersonal and communication skills , including the ability to present complex and technical issues in simple terms. Advanced computer skills, with familiarity with specialized risk models or systems a plus. Languages: Excellent writing and communication skills and proficiency in English and any of the other official languages of the Bank (Spanish, French or Portuguese). Core Competences Collaboration, Teamwork and Inclusion: Works cooperatively with others independent of background (eg, gender, ethnic origin, religion, disability, sexual orientation, background, perspective) or organizational role, and takes a team-based and inclusive approach to projects and decision making. Innovation and Creativity: Develops imaginative ideas and solutions through creativity, experimentation and critical thinking. Communication and Influence: Communicates effectively and leverages relationships and strategies to influence others. Client Focus: Understands client needs and provides services that meet their expectations for quality and performance; meets the Bank's expectations for ethical behavior. Technical Competences Quantitative Analysis: Uses analytical tools and mathematical processes to empirically analyze and evaluate data and information. Qualitative Analysis: Investigates beyond numbers through research and intuition to determine the reasonableness of information used for decision-making. Financial Market Knowledge: Understands financial market dynamics, products and economics and their implications for financial and risk management. Financial Operations: Researches, analyzes, inputs and reports information on the origination, execution and monitoring of financial operations. Systems and Applications Knowledge: Leverages systems and applications knowledge to enter data, process transactions, conduct relevant analyses, and generate reports. Risk Awareness: Understands, analyzes, acts on and communicates risks by applying appropriate controls and risk mitigation procedures. Business Acumen: Demonstrates an understanding of own functional area, the business of the Department and the IDB's needs and priorities. Understands and applies knowledge of IDB strategies, business priorities and policies to accomplish goals and execute on business area work program. The IDB offers a competitive remuneration and benefits package. The IDB is committed to diversity and inclusion and to providing equal opportunities in employment. We embrace diversity on the basis of gender, age, education, national origin, ethnic origin, race, disability, sexual orientation, religion, and HIV/AIDs status. We encourage women, Afro-descendants and persons of indigenous origins to apply. Primary Location : HQ-US-Washington DC Job Posting : Feb 17, 2017, 12:00:00 AM Closing Date : Mar 24, 2017, 11:59:00 PM Contact Name - External : Jobs Online Contact Email - External : RMG/RMT is currently looking for a talented Senior Risk Officer to lead and implement initiatives and work programs in the area of investment risk management.