Inter-American Development Bank (IDB)

Operational Risk Consultant (Financial Control and Operational Risk Management Unit)

Inter-American Development Bank (IDB)

Job Description

Operational Risk Consultant Financial Control and Operational Risk Management Unit (RMG/ORM) Background Of this search : RMG/ORM coordinates the activities related to the Bank-wide Operational Risk Management Framework (ORMF), and the assessment of the Bank's internal control system to support Management’s assertion on the Bank’s internal controls over Financial Reporting (ICFR). As part of these functions, RMG/ORM is actively identifying and monitoring the operational risks associated with two major IDB initiatives: The Capacity Building, Asset Management, and Advisory (CAsA) pilot project and the Libor Transition Program (LTP). The CAsA pilot project’s main objectives are to help IDB clients to develop or strengthen their portfolio management functions through asset management services. The Libor Transition Program is a multifaced strategy designed to manage the impacts and risks associated with the transition from the LIBOR-based interest rate to different reference rates in the Bank’s financial products. The Team’s mission: RMG/ORM requires a highly motivated operational risk consultant to support ORM’s monitoring of risks and contribute an operational risk perspective to the CAsA and the Libor Transition Programs. What you’ll do: The consultant will work on the following activities: For CAsA: • Monitor the progress of the pilot program, identify, and assess associated operational risks. • Accompany the preparation of operational guidelines and set-up of the specific pilots by providing advice on implementation that adequately addresses the operational risks identified while incorporating well designed internal controls. • Design and implement a process to assess and report on effectiveness of internal controls of the program. • Conduct testing of internal controls for control design and operating effectiveness. • Support operational risk reporting to Senior Management and the Board on risks related to CAsA. For Libor Transition Management: • Identify and assess operational risks associated with the transition, with special focus on the adjustment to processes and systems in Investments, Borrowings, Derivatives, Loans. • Identify and assess operational risks associated with internal controls over financial reporting. • Provide recommendations for risk mitigating actions and implementation of key ICFR controls. • Conduct testing of internal controls for control design and operating effectiveness. • Support operational risk reporting to Senior Management and the Board on risks related to the LTP. Deliverables: The consultant will deliver one or more of the following products for each one of the projects referenced. Other products that might be agreed in accordance with the work program as it evolves in response to RMG/ORM needs. 1. Reports that includes identification and quantification of operational risks associated to the initiatives using the IDB risk assessment taxonomy and methodology. 2. Inputs to operational risk reporting to Senior Management and the Board. 3. Risk and Controls Matrix with detailed list (level 3) of operational risks and controls using the IDB risk assessment taxonomy and methodology. 4. Testing Plan with specific recommendations and rationale for the testing of key controls. 5. Report on implementation results of testing plan. 1. repPrep Payment timeline: The consultant will submit an invoice with a detail of days used and attached deliverables. Invoices could be submitted monthly according to the progress of the deliverables. What you’ll need: • Citizenship: You are a citizen of one of our 48-member countries. • Consanguinity: You have no family members (up to fourth degree of consanguinity and second degree of affinity, including spouse) working at the IDB Group. • Education: Advanced degree in Finance, Accounting or Business Administration. Over 5 years of working experience and expertise built through working with Financial Institutions, in operational risk matters. • Experience: The candidate will have demonstrated experience in operational risk, treasury risk and business process Analysis. Candidate should be well versed on the topic of the LIBOR transition, related industry activities and events. Candidates with the following certifications and/or postgraduate qualifications are preferred: Operational Risk Manager (ORM), Chartered Financial Analyst (CFA), Financial Risk Manager (FRM), Certified in Risk Management Assurance (CRMA), Professional Risk Manager (PRM). • Languages: Excellent written and oral communication skills in English Opportunity Summary: • Consultancy category and modality: Products and External Services Consultant (PEC), Retainer. • Contract duration: 12 months up to 180 days • Place of work: Consultants’ place of residence. • Supervisor: The consultant will be under the supervision of Treasury and Risk Lead Specialist, RMG/ORM. • Requirements: You must be a citizen of one of the IDB’s 48 member countries and have no family members currently working at the IDB Group. Our culture: Our people are committed and passionate about improving lives in Latin-America and the Caribbean, and they get to do what they love in a diverse, collaborative and stimulating work environment. We are the first Latin American and Caribbean development institution to be awarded the EDGE certification, recognizing our strong commitment to gender equality. As an employee you can be part of internal resource groups that connect our diverse community around common interests. Because we are committed to providing equal opportunities in employment, we embrace all diversity and encourage women, LGBTQ+, persons with disabilities, afro-descendants, and indigenous people to apply. About us: At the IDB, we’re committed to improving lives. Since 1959, we’ve been a leading source of long-term financing for economic, social, and institutional development in Latin America and the Caribbean. We do more than lending though. We partner with our 48-member countries to provide Latin America and the Caribbean with cutting-edge research about relevant development issues, policy advice to inform their decisions, and technical assistance to improve on the planning and execution of projects. For this, we need people who not only have the right skills, but also are passionate about improving lives. Additional Information





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