Principal Risk Officer

Job Posting Organization:
The International Finance Corporation (IFC) is a member of the World Bank Group, which is one of the largest sources of funding and knowledge for developing countries. Established to focus on the private sector in emerging markets, the IFC operates in over 100 countries and has committed a record $71.7 billion to private companies and financial institutions in fiscal year 202

• The organization aims to mobilize private capital to create markets and opportunities, thereby contributing to the World Bank Group's mission of ending poverty and promoting sustainable development. The IFC's 2030 strategy is centered around enhancing origination and mobilization, adopting new approaches to equity, supporting micro, small, and medium enterprises (MSMEs), and revamping internal operations to better manage risks and foster collaboration across the World Bank Group.

Job Overview:
The Principal Risk Officer will play a crucial role in the Corporate Risk Management Department (CRM) of the IFC, which is responsible for comprehensive risk management at a corporate level. This position involves leading data and credit risk analytics, providing technical advisory and supervision on strategic risk processes relevant to the implementation of IFC’s 2030 strategy. The role requires a deep understanding of finance and risk concepts, as well as regulatory standards, to generate comprehensive analysis and data for internal decision-making and external dissemination. The Principal Risk Officer will supervise technical teams, collaborate with various units within IFC, and work closely with European institutions, including central banks, to ensure effective risk management practices are in place. This position is not only about managing risks but also about contributing to the strategic direction of the organization and enhancing its impact in emerging markets.

Duties and Responsibilities:
The Principal Risk Officer will have a wide range of responsibilities, including: overseeing teams responsible for quantitative analysis related to IFC’s financial performance and investment portfolio; leading scenario analysis and enhancing financial performance forecasting tools; acting as a connector between project contributors to ensure clarity of objectives and deliverables; leveraging technical expertise to troubleshoot issues and resolve challenges; supervising the definition of business requirements for IT implementations; preparing communication materials for stakeholders and senior management; and contributing to strategic departmental initiatives as part of IFC’s 2030 strategy. Additionally, the Principal Risk Officer will lead a team focused on enhancing the Global Emerging Markets Risk Database (GEMs), collaborating with various stakeholders to ensure data accuracy and maximize the information contributed to GEMs.

Required Qualifications:
Candidates must possess an advanced degree (PhD, MSc., or equivalent) in finance, statistics, mathematics, computer science, or engineering, along with a strong technical and quantitative background. A minimum of 12 years of work experience in financial modeling or risk management is required. Candidates should have complete fluency with database management and system-related project management concepts, and familiarity with computer programming is a plus. A sound knowledge of capital markets, financial and credit analysis, and experience with risk-adjusted profitability measures are also essential. Candidates must demonstrate a focus on quality and execution of projects, the ability to handle pressure and meet strict deadlines, and possess excellent written and oral communication skills.

Educational Background:
The educational background required for this position includes an advanced degree in a relevant field such as finance, statistics, mathematics, computer science, or engineering. This educational foundation is critical for understanding the complex financial and risk management concepts that the Principal Risk Officer will be dealing with on a daily basis.

Experience:
The position requires a minimum of 12 years of relevant work experience, particularly in financial modeling or risk management. Candidates should have a proven track record of managing complex projects and providing intellectual leadership in their field. Experience working in multilateral development banks or development finance institutions is considered a plus, as it demonstrates familiarity with the unique challenges and opportunities present in the development finance sector.

Languages:
The mandatory language for this position is English, which is essential for communication within the organization and with external stakeholders. While not required, proficiency in additional languages would be considered an asset, particularly languages relevant to the regions in which IFC operates.

Additional Notes:
This position is a full-time role with a term duration of 3 years. It involves international recruitment, indicating that candidates from various countries are encouraged to apply. The role may require travel to IFC Headquarters and other locations of IFC operations, particularly across Europe. The World Bank Group offers comprehensive benefits, including a retirement plan, medical, life and disability insurance, and paid leave, including parental leave. The organization is committed to diversity and inclusion, ensuring equal opportunities for all candidates.