Risk Officer

Job Posting Organization:
The United Nations Joint Staff Pension Fund (UNJSPF) is a significant entity within the United Nations system, responsible for managing the pension assets of UN staff members. The UNJSPF was established to provide retirement benefits to UN employees and their families. The Office of Investment Management (OIM), which is part of the UNJSPF, oversees a global investment portfolio exceeding $100 billion, with a diverse range of asset classes including equities, fixed income, private equity, and real estate. The OIM is committed to responsible investment practices and operates with a team of professionals from over 40 countries, reflecting a diverse and inclusive workplace. The mission of the OIM is to ensure the financial security" style="border-bottom: 1px dotted #007bff !important;">security of UN staff members through prudent investment strategies and risk management practices. For more information, please visit OIM's website at https://oim.unjspf.org/.

Job Overview:
The Risk Officer position is critical within the Office of Investment Management, focusing on the management of market risk associated with the UNJSPF's investment portfolio. The incumbent will report directly to the Risk Officer and will be responsible for monitoring and identifying market risks related to public equities and fixed income securities. This role involves preparing and interpreting risk reports, formulating strategies for risk reduction, and enhancing performance within the pension fund context. The Risk Officer will also assist in policy development, conduct quantitative analyses, and contribute to the ongoing development of risk measurement tools such as value at risk and stress testing. The position requires collaboration with colleagues to facilitate workshops and develop action plans for managing risks effectively. The Risk Officer will also engage in outreach activities, conduct training sessions, and provide substantive support for meetings and conferences, ensuring that the risk management framework is robust and responsive to the dynamic investment environment.

Duties and Responsibilities:
The Risk Officer will undertake a variety of responsibilities, including:

• Monitoring and identifying market risks for public equities and fixed income securities, preparing detailed reports, and formulating options for risk reduction and performance enhancement.
• Assisting in asset-liability management and conducting benchmark studies within the pension fund context.
• Contributing to policy development by conducting quantitative analyses on the Fund's assets and evaluating the effectiveness of indexed tools and derivatives for hedging various risks.
• Developing and enhancing risk measurement tools, including risk budgets and stress testing methodologies.
• Preparing various written outputs, including weekly, monthly, quarterly, and annual reports on market risk exposures.
• Participating in the development and evaluation of assigned programs/projects, monitoring their implementation, and proposing corrective actions as necessary.
• Conducting research and analysis to support investment proposals and existing portfolios.
• Designing data collection tools and interpreting survey responses to identify issues and prepare conclusions.
• Providing support for consultative meetings, including proposing agenda topics and preparing necessary documents. 1
• Coordinating budget-related activities and preparing financial reports. 1
• Performing additional duties as assigned by the Risk Officer or Chief Risk and Compliance Officer.

Required Qualifications:
Candidates must possess a strong understanding of market risk management theories and concepts, particularly in relation to equities and fixed income. They should demonstrate the ability to identify and analyze issues, conduct independent research, and apply judgment in various assignments. The ideal candidate will have excellent organizational skills, the ability to manage conflicting priorities, and a commitment to gender equality in the workplace. Professionalism, teamwork, and accountability are essential competencies for this role, as the Risk Officer will work collaboratively with colleagues and take ownership of responsibilities.

Educational Background:
An advanced university degree (Master’s degree or equivalent) in business administration, finance, economics, engineering, computer science, or a related field is required. Alternatively, a first-level university degree combined with qualifying experience may be accepted in lieu of the advanced degree. This educational background is essential for understanding the complexities of market risk management and investment strategies.

Experience:
A minimum of five years of progressively responsible experience in market risk management or a similar technical function within an asset management or asset ownership context is required. Candidates should have experience in coding with Python or other programming languages, as well as at least two years of experience managing risk for equities or fixed income securities. Experience in implementing risk systems is also desirable, as it will contribute to the effectiveness of the risk management framework within the UNJSPF.

Languages:
English is the mandatory working language for this position, with a required proficiency level of UN Level II in reading, writing, listening, and speaking. French is also a working language of the United Nations Secretariat, and proficiency in French is considered an asset, although not mandatory for this role.

Additional Notes:
The position is subject to the authority of the Secretary-General and may require staff to move periodically to new functions in accordance with established rules. The United Nations is committed to achieving gender balance and encourages female candidates to apply. The appointment is subject to adherence to the United Nations Financial Disclosure Programme and compliance with the OIM's Code of Ethics. The recruitment process does not involve any fees, and reasonable accommodations may be provided for applicants with disabilities. Candidates will undergo reference checks and may be invited to participate in assessment exercises and competency-based interviews.