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Manager, Counter Party Credit Risk Job Details

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Manager, Counter Party Credit Risk (Ref: 110359)
Sector, Sub Sector: Other
Compliance Type: Regulatory/Compliance
Expertise: -
Company: World Bank
Location: Washington , District Of Columbia
Employment Type: -
Job Description:

Department Mission and Objectives The Corporate Finance Department has two principle areas of responsibility: 1- Risk Oversight: Identifying, measuring and monitoring market risks (including interest/exchange rate/spreads, ALM/funding risks and liquidity risks) and commercial credit risks in IBRD's and IDA's financial operations. Corporate Finance ensures that financial transactions are carried out subject to guidelines and limits consistent with approved risk tolerance and systems capacity; monitors compliance with these guidelines and limits; identifies strategic or policy gaps which could lead to inadvertent risk taking; validates risk and performance measures used by operational risk managers, and; communicates key current and potential risks, and management actions to manage and mitigate those risks, to Senior Management and the Board. 2- Capital and Income Adequacy: Managing the IBRD's capital and earnings in line with the institution's financial policies and development objectives. Corporate Finance supports senior management and the Board in monitoring the Bank's income and balance sheet variables and their vulnerabilities; assigning capital to cover the Bank risks and developing strategies for optimal use of capital; and assuring capacity to understand and resolve issues of income allocation, financial product pricing and capital structure and adequacy. While these have been the broad areas of responsibility of the department for some time, the evolving market context makes the importance and complexity of the work significantly more challenging. The lessons learnt from the financial crisis require incorporation into the frameworks governing the Bank’s asset and liability management (ALM), market risk oversight and commercial credit risk management. The Bank’s policies also need to be reviewed for continued relevance in the post-crisis context, particularly with respect to activities and transactions heretofore considered as low-to-negligible risk. In addition, increased scrutiny on the Bank’s financial policies and processes require reviews to ensure coherence and consistency across IBRD’s various financial policies. Therefore at this juncture, the Corporate Finance department needs to fundamentally review the direction of the Bank’s commercial credit policies to meet the challenges of the post-crisis world and to ensure continued support to IBRD’s future strategy while maintaining IBRD’s traditionally conservative credit policies. 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 5 year renewable term appointment.
Duties and Accountabilities The position of Manager; Head of Commercial Credit Risk will be principally concerned with the first area described above with primary responsibility in the area of commercial credit risk oversight. The position currently involves supervising one senior financial officer and three analysts; additional staffing for the group is under review. Analytical services are currently provided through cross-departmental IT support from the Bank’s Treasury Department. Specific accountabilities will include the following: - Establishing an overall vision/strategy for credit risk management that properly takes into account institutional risk tolerances, internal goals and capabilities, and market realities; driving the development of guidelines/limits, internal policies and procedures to execute this strategy. - Ensuring adequacy and effectiveness of the framework for managing the Bank’s commercial credit risks consistent with Board and Senior Management risk tolerances and approved policies; where appropriate, proposing changes to commercial credit risk management frameworks and policies to improve management efficiency while reflecting the “new normal” post-2008 credit paradigm. - Overseeing evaluation and compliance processes to ensure that the Banks’ Treasury financial operations are carried out within guidelines, benchmarks and procedures consistent with the Bank’s overall commercial credit risk management framework, as well as with Board and Senior Management approved policies; where appropriate, recommending action based on informed opinion and overseeing execution of risk mitigation strategies. - Leading ongoing market and internal business surveillance to identify, measure, and evaluate commercial credit risks; providing regular reporting to Senior Management and the Board on the Bank’s overall commercial credit risk position. - Initiating the development, enhancement and implementation of analytical and monitoring systems for commercial credit using internal and cross-departmental resources. - As required, contributing to issues of financial strategy and policy.
Selection Criteria • Masters degree in finance, mathematics, economics or other relevant discipline. • Diversity of experience directly related to financial risk management or financial services industry experience, including trading, portfolio analysis, treasury oversight and valuation or other relevant experience. • Broad and deep knowledge of international financial markets, products and participants - especially in fixed income and financial derivatives; thorough knowledge of credit rating agency products. • Demonstrated knowledge of standard credit risk assessment techniques, including calculation of potential future exposure, Monte Carlo and VAR analysis and valuation for a wide variety of complex derivatives. • Experience in the production of internal ratings would be a plus. • Understanding of World Bank Group financial and business activities, financial risks, financial markets and their impacts on IBRD finances would be a plus. • Excellent leadership skills, particularly demonstrated in a complex organizational setting with responsibilities for demanding technical responsibilities. • Strong team player with ability to collaborate and innovate on issues relating to business direction and risk management strategy, and problem-solving. • Demonstrated ability to lead and manage large, diverse, and highly technical projects/functions within a complex and demanding work program. • Demonstrated strategic planning skills and a strong record of developing and implementing risk management strategies. • Ability to successfully engage senior decision-makers on complex technical and policy issues. • Excellent interpersonal and communication skills including the ability (i) to present complex and technical issues in simple terms, and (ii) to mentor junior staff. • High degree of self-motivation and drive. • Highest ethical standards. Bank-wide managerial selection criteria: 1) Focusing on the Big Picture and Overall Strategic Framework for Development Identifies and pursues strategic initiatives which provide the greatest value and sustainable impact; balances long and short-term trade-offs; communicates clearly and precisely the development goals and the strategies for achieving them. 2) Inspiring Trust & Passion in the Bank Group's Mission Shows great drive and commitment to Bank mission; helps others understand how their daily work contributes to the Bank's mission and inspires others to proactively meet the Bank's development objectives in partnership with clients. Treats everyone fairly, consistently, and with respect. Maintains high standards of personal integrity. 3) Promoting Client Orientation Balances a responsive and proactive approach to meeting client needs; encourages staff to understand client needs and concerns; ensures provision of customized services and products as appropriate; Responds promptly and effectively to client needs. 4) Drive for Results Makes things happen; is proactive; balances "analysis" with "doing"; sets high standards for self and others; identifies work objectives that are fully aligned with the Bank Group’s mission and goals. 5) Selecting, Coaching, Appraising & Developing Staff Builds a team diverse in gender and nationality; appraises their ability and potential; gives candid and timely performance feedback; rewards desirable behavior; provides support for professional development efforts linked to business objectives; coaches staff to help them perform effectively. 6) Planning & Managing Staff to Achieve Quality Results Develops realistic plans with available human resources; establishes high standards of performance and demonstrates a commitment to excellence; empowers staff by removing obstacles to achieve business goals; focuses on results and delivers what is promised, on time and within budget; takes accountability, i.e., accepts responsibility for successes and failures; holds others accountable; supports others to succeed and acknowledges their contributions. 7) Encouraging Innovation in an Open, Team Based Environment Creates an environment conducive to teamwork, continuous learning and innovation; thinks beyond existing paradigms; builds alliances and promotes open communication and collaboration to achieve joint objectives. 8) Creating an Environment that Supports Continuous Learning & Knowledge Sharing Uses knowledge to equip clients and staff; promotes continuous learning environment; shares knowledge and information; builds partnerships and creates an environment for learning and knowledge sharing. 9) Influencing & Resolving Differences across Boundaries Gains support and commitment from others even without formal authority; resolves differences by determining needs and forging solutions that benefit all parties; promotes collaboration and facilitates teamwork across organizational boundaries; breaks down barriers between units. 10) Promoting Diversity and Inclusion Builds diverse teams and manages differences to achieve business results; demonstrates commitment to D&I through staffing decisions (recruitment, promotion recognition, etc.); respects and values differences; listens with an open mind and enables all staff to actively, visibly contribute; challenges preferences in self and others that may affect workplace decisions; and models behaviors that promote a more inclusive organizational culture.
Job Ref No: 110359