Description

 

Do you wish to construct a profession that’s actually worthwhile? Working on the World Financial institution Group gives a singular alternative so that you can assist our shoppers remedy their biggest growth challenges. The World Financial institution Group is among the largest sources of funding and data for growing nations; a singular international partnership of 5 establishments devoted to ending excessive poverty, growing shared prosperity, and selling sustainable growth. With 189 member nations and greater than 120 places of work worldwide, we work with private and non-private sector companions, investing in groundbreaking tasks and utilizing information, analysis, and know-how to develop options to essentially the most pressing international challenges. For extra info, go to www.worldbank.org

The workplace of the Chief Threat Officer (CRO) is liable for main the chance administration perform for IBRD and IDA, with oversight duty for monetary and operational dangers together with coverage formulation, measurement, monitoring and reporting. The CRO works intently with different danger models within the Financial institution Group to deal with cross-cutting points, help innovation in a sustainable method and share finest practices. It additionally fosters collaboration in danger administration throughout different MDBs. CRO performs a key position in capital construction and interplay with ranking businesses in addition to inner and exterior auditors and Board communication on danger associated issues. It consists of Nation Credit score Threat Division (CROCR), Market and Counterparty Threat Division (CROMC), and Operational Threat Division (CROOR).

The Market & Counterparty Threat Directorate (CROMC) focuses on oversight of danger in three most important areas: 1) Market danger, which covers ALM, interest-rate, unfold (funding and investments) foreign-exchange danger, and the supply/value of, or entry to, prepared liquidity and long-term funding; 2) Counterparty (i.e., no sovereign-lending) Publicity & Liquidity danger, which incorporates dangers to IBRD ensuing from adjustments in creditworthiness of IBRD’s business/spinoff counterparties, and MTM/liquidity dangers of the treasury funding portfolios; and three) Mannequin danger, which covers financial-risk fashions, throughout the WBG excluding IFC, by way of mannequin, danger, and governance.

The Market & Counterparty Threat Directorate is now seeking to recruit a Senior Threat Officer to handle and oversee the mannequin danger and governance group in CROMC. The place is predicated in Washington, D.C and can report on to the Director, Market and Counterparty Threat.

Duties and Accountabilities:
• Lead mannequin validation and management perform for danger and capital fashions. Present updates and report back to the CROMC director;
• Present steering to stakeholders by way of model-risk administration and assist to interpret the framework to the stakeholders;
• Develop relationships with mannequin growth groups to construct and preserve the mannequin stock;
• Seek the advice of with mannequin customers on the design of efficient model-risk administration;
• Carry out mannequin governance perform for fashions within the mannequin stock and guarantee they’re validated in accordance with the present framework, establish mannequin dangers and talk about remediation plans;
• Lead and oversee inner validation of high-risk, or systematically vital, fashions throughout the stock;
• Assess and carry out unbiased scores of all fashions in IBRD’s mannequin stock and summarize to the CROMC director;
• Develop and preserve {industry} contacts to keep up finest practices;
• Mentor junior members of the MRG group; and
• Assist create consciousness of the mannequin governance surroundings throughout the World Financial institution Group.

 

Choice Standards

• Grasp’s diploma with a minimal of 8 years of related expertise in finance, physics, operations analysis, statistics, arithmetic, pc science, engineering (or associated topic areas) with a robust technical and quantitative background;
• Minimal of 8 years expertise in both monetary modelling or danger administration, in addition to working in extremely profitable groups;
• Expertise in both model-risk administration, mannequin validation and management perform roles, or mannequin growth with a significant monetary establishment/or massive firm;
• Glorious group participant with capability to collaborate with colleagues inside and throughout departments, in addition to upwards and downwards; and
• Glorious written and oral communication expertise, together with the power to current advanced and technical points in easy phrases.
• Glorious understanding and expertise with Financial & Regulatory Capital Fashions, Credit score Threat Fashions (PFE, Credit score Capital, Counterparty, CVA, and so forth.), and Market Threat Fashions (VAR);
• Strong understanding and expertise with derivative-valuation fashions and related methods;
• Glorious understanding and expertise with fashions for rates of interest, foreign-exchange, fairness, and structured notes;
• Capability to investigate and perceive advanced monetary devices, fashions and write and/or interpret related code to facilitate the evaluation;
• Superior programming expertise with data of the next: MATLAB, R, Python, S-Plus, SQL, Microsoft Suite, and so forth.;
• Glorious understanding of the markets and data of structured merchandise and derivatives;
• Robust modeling and technical experience with deal with high quality, execution, and assembly deadlines;
• Glorious interpersonal expertise, teamwork, and talent to work together successfully with monetary professionals, mannequin builders and customers, technical specialists, know-how consultants, gross sales/enterprise personnel, and senior managers;
• Expertise with mannequin validation, mannequin danger, and/or growth of quantitative fashions, ideally in a global or a significant monetary companies group;
• Capability to carry out a number of duties and to deal with strain and meet strict deadlines; and
• Understanding of industry-wide danger modelling practices and traits is extremely fascinating.

Competencies:
• Monetary Merchandise – In a position to advise shoppers on the Financial institution’s vary of economic devices and negotiate detailed mortgage / belief fund decisions;
• Threat Administration & Inside Controls – In a position to advise senior administration on technical danger and management points akin to growth of key danger and management indicators, danger tolerances;
• Consumer Orientation – Maintains shopper relationships within the face of conflicting calls for or instructions and gives evidence-based recommendation and options primarily based on sound analysis and data;
• Drive for Outcomes – Identifies the wanted assets to perform outcomes involving a number of stakeholders and finds options to obstacles affecting key deliverables;
• Teamwork (Collaboration) and Inclusion – Exhibits management in guaranteeing the group stays organized and targeted, and actively seeks and considers numerous concepts and approaches;
• Information, Studying and Communication – Leads within the sharing of finest apply, traits, data and classes realized throughout models and with shoppers and companions, articulating concepts verbally and in writing in a transparent and compelling manner throughout audiences of assorted ranges; and
• Enterprise Judgment and Analytical Choice Making – Gathers inputs, assesses danger, considers affect and articulates advantages of choices for inner and exterior stakeholders over the long run.

World Bank Group Core Competencies

The World Financial institution Group presents complete advantages, together with a retirement plan; medical, life and incapacity insurance coverage; and paid depart, together with parental depart, in addition to cheap lodging for people with disabilities.

We’re proud to be an equal alternative and inclusive employer with a devoted and dedicated workforce, and don’t discriminate primarily based on gender, gender id, faith, race, ethnicity, sexual orientation, or incapacity.

Be taught extra about working on the World Bank and IFC, together with our values and galvanizing tales.