WBG Director, Market and Counterparty 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, focusing on solving the world’s greatest development challenges through collaboration with public and private sector partners, investment in groundbreaking projects, and leveraging data, research, and technology to drive transformative changes globally. For more information, visit www.worldbank.org.

Job Overview:
The WBG Director for Market and Counterparty Risk will lead a multidisciplinary team across the World Bank (WB), International Finance Corporation (IFC), and Multilateral Investment Guarantee Agency (MIGA). This position is crucial for ensuring that the department delivers on its commitments while modeling WBG leadership values and managerial behavior. The Director will be responsible for overseeing the establishment and review of market risk frameworks, models, limits, and policies aligned with each entity’s risk appetite and evolving market conditions. The role requires a deep understanding of financial risk management, including market, counterparty credit, and model risks, and the ability to provide objective oversight while influencing decision-making at the highest levels of the organization. The Director will also ensure that risk-taking activities are consistent with the WBG’s risk appetite, capital adequacy framework, and long-term financial sustainability.

Duties and Responsibilities:
The WBG Director for Market & Counterparty Credit Risk will be accountable for a wide range of responsibilities, including: leading the establishment and review of market risk frameworks, models, limits, and policies; ensuring robust oversight of risks arising from market movements, funding conditions, and liquidity; providing leadership to treasury risk management functions; overseeing the measurement, monitoring, and reporting of market, funding, and liquidity risks; ensuring adherence to counterparty credit risk frameworks; supervising the evaluation and approval of new counterparties; promoting strong collateral management; overseeing model risk governance; leading the design and implementation of risk technology and data infrastructure; representing the second line function in risk governance committees; and managing the department’s budget and resources. The Director will also be responsible for fostering a culture of analytical rigor, collaboration, and continuous improvement within the team, while ensuring that policies, frameworks, and guidelines remain up to date and aligned with WBG’s financial and risk appetite statements.

Required Qualifications:
The ideal candidate for the role of WBG Director for Market and Counterparty Risk will possess a seasoned managerial background with typically at least 15 years of relevant experience leading a world-class market risk function. This includes exposure to fixed income and derivatives markets, market and commercial counterparty credit risk, and treasury risk oversight with a strong quantitative and model-based dimension. A Master’s degree with 15 years of experience or an equivalent combination of education and experience is required. The candidate should have a proven track record of intellectual leadership and effective management of professional staff, demonstrating business judgment and a deep understanding of the broad spectrum of financial risks relevant to Multilateral Development Bank (MDB) rating methodologies. Additionally, the candidate should have excellent communication skills, both written and oral, with the ability to convey complex issues clearly to diverse audiences.

Educational Background:
Candidates must hold a Master’s degree in a relevant field, such as finance, economics, or risk management, along with at least 15 years of experience in a related role. An equivalent combination of education and experience may also be considered. The educational background should provide a strong foundation in financial risk management principles, quantitative analysis, and strategic decision-making.

Experience:
The position requires a seasoned executive with a minimum of 15 years of relevant experience in financial risk management, particularly in leading market risk functions within complex, global financial institutions. The candidate should have a demonstrated ability to lead innovation and cultural change, with a track record of improving risk systems, processes, and operational frameworks. Experience managing stakeholder engagement and interactions with senior leadership is essential, as is the ability to work effectively across boundaries and build consensus.

Languages:
The mandatory language for this position is English. Proficiency in additional languages is preferred but not required. Candidates should possess excellent communication skills to effectively engage with diverse audiences and convey complex information clearly.

Additional Notes:
This 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. Sub-Saharan African nationals, Caribbean nationals, and female candidates are strongly encouraged to apply. The role offers competitive compensation and benefits, aligned with the organization's commitment to attracting and retaining top talent.