WBG Director, Operational Risk

Job Posting Organization:
The World Bank Group (WBG) is a unique global partnership of five institutions established with the mission to create a world free of poverty on a livable planet. Founded in 1944, the organization has grown to include 189 member countries and operates more than 120 offices worldwide. The WBG is one of the largest sources of funding and knowledge for developing countries, working with public and private sector partners to address the world's greatest development challenges. The organization invests in groundbreaking projects and utilizes data, research, and technology to bring about tangible and transformative changes globally. For more information, visit www.worldbank.org.

Job Overview:
The WBG Director for Operational Risk will lead a multidisciplinary team across the World Bank, IFC, and MIGA. This position is crucial for ensuring that the operational risk management framework is robust and aligned with the institution's risk appetite and long-term operational resilience objectives. The Director will be responsible for overseeing the identification, assessment, monitoring, and reporting of operational risks across the WBG, ensuring that key exposures are escalated to senior management and the Board in a timely manner. The role also involves developing and maintaining a comprehensive operational loss data framework, designing hypothetical scenarios to test operational resilience, and establishing Key Risk Indicators (KRIs) to monitor risk performance. The Director will play a pivotal role in integrating scenario planning into risk assessment and response planning, thereby enhancing the institution's ability to anticipate vulnerabilities and maintain critical operations during disruptions. Additionally, the Director will oversee the corporate insurance portfolio, ensuring it aligns with the WBG's operational risk exposures and business continuity needs, and will provide oversight for the implementation of the WBG Data Privacy Policy across business units.

Duties and Responsibilities:
The WBG Director for Operational Risk will have a wide range of responsibilities, including: Overseeing the identification, assessment, monitoring, and reporting of operational risks across the WBG; developing and maintaining an operational loss data framework; designing and implementing hypothetical scenarios to pressure test operational resilience; establishing and monitoring Key Risk Indicators (KRIs); leading the Risk and Control Self-Assessment (RCSA) Program; coordinating with business partners to manage non-financial risks; ensuring implementation and testing of the WBG business continuity framework; overseeing the development of resiliency plans; integrating scenario planning into operational risk and business continuity; managing the corporate insurance portfolio; providing oversight for data privacy compliance; leading the design and implementation of a unified operational risk data and technology strategy; serving as Secretariat for operational risk governance committees; preparing operational risk reports for senior management; providing strategic direction and coaching to the team; and representing the CROVP in WBG-wide task forces and committees.

Required Qualifications:
The ideal candidate will possess a seasoned managerial background with typically at least 15 years of relevant experience leading a world-class operational risk function within large, complex, or international institutions. A proven ability to lead high-performing teams and deliver strategic results is essential. The candidate should have a Master’s degree with 15 years of experience or an equivalent combination of education and experience. Demonstrated leadership and management qualities, particularly across corporate silos, are crucial. The candidate must have a deep understanding of operational and non-financial risks, including those arising from people, processes, systems, data, and external events, particularly in the context of multilateral or global organizations. A track record of innovation and transformation, with experience enhancing risk frameworks and organizational resilience through process improvement and technology, is required. Strong governance orientation and excellent communication and influencing skills at all levels of seniority are also necessary.

Educational Background:
A Master’s degree is required for this position, along with 15 years of relevant experience or an equivalent combination of education and experience. The educational background should ideally include studies related to risk management, finance, business administration, or a related field that provides a strong foundation for understanding operational and non-financial risks.

Experience:
Candidates should have at least 15 years of relevant experience leading operational risk functions within large, complex, or international institutions. This experience should include strategic leadership roles that demonstrate the ability to manage high-performing teams and deliver results in challenging environments. Experience in scenario planning, crisis management, and business continuity is also essential, ensuring organizational preparedness and effective response to operational disruptions.

Languages:
The mandatory language for this position is English. Proficiency in additional languages may be considered a plus, although specific preferred languages are not listed in the job description.

Additional Notes:
The position is a full-time role with a term duration of 4 years. It involves international recruitment, and the World Bank Group values diversity, encouraging all qualified candidates who are nationals of World Bank Group member countries to apply, regardless of gender, gender identity, religion, race, ethnicity, sexual orientation, or disability. Sub-Saharan African nationals, Caribbean nationals, and female candidates are strongly encouraged to apply.