Risk Officer

Job Posting Organization:
The United Nations Joint Staff Pension Fund (UNJSPF) is a vital organization that manages the pension assets for the United Nations staff. The UNJSPF is overseen by the Secretary-General of the United Nations, who has delegated the investment responsibilities to the Representative of the Secretary-General for the investment of the assets (RSG). The Office of Investment Management (OIM) is responsible for managing a substantial global investment portfolio exceeding $100 billion, with a significant portion actively managed in-house. The OIM employs a diverse team of professionals from over 30 countries, all based in New York City, and focuses on various asset classes, including global equities, fixed income, private equity, real estate, and infrastructure. The mission of the OIM is to ensure the effective management of pension assets to provide financial security" style="border-bottom: 1px dotted #007bff !important;">security for UN staff members upon retirement. For more information, visit OIM's website at https://oim.unjspf.org/.

Job Overview:
The Risk Officer position is situated within the Risk and Compliance division of the Office of Investment Management. The incumbent will report directly to the Head of Financial and Performance Risk and will play a crucial role in monitoring and identifying investment risks associated with the UNJSPF's portfolio. The Risk Officer will be responsible for preparing and interpreting reports that detail investment risks and will formulate strategies for risk reduction and performance enhancement. This position requires a proactive approach to asset-liability management and involves conducting benchmark studies within the context of a pension fund. The Risk Officer will also assist in policy development by conducting quantitative analyses of the Fund's assets, focusing on the effectiveness of indexed tools and derivatives for hedging various risks. The role includes contributing to the development and enhancement of risk measurement tools such as risk budgets, value at risk, and stress testing methodologies. The Risk Officer will prepare various written outputs, including regular reports on investment risks, performance, and sustainability risks, and will be involved in cross-functional projects that enhance risk management practices across the organization. This position demands a collaborative spirit, as the Risk Officer will work closely with colleagues to facilitate workshops and develop action plans for managing change within the risk team.

Duties and Responsibilities:
The Risk Officer will undertake a comprehensive set of responsibilities, including but not limited to: monitoring and identifying investment risks, preparing and interpreting detailed reports, and formulating strategies for risk reduction and performance enhancement. The incumbent will provide assistance in asset-liability management and conduct benchmark studies relevant to pension fund operations. The Risk Officer will assist in policy development by conducting quantitative analyses on the Fund's assets, focusing on the effectiveness of indexed tools and derivatives for hedging various risks. The role involves contributing to the ongoing development and enhancement of risk measurement tools, including risk budgets, value at risk, and stress testing methodologies. The Risk Officer will prepare various written outputs, such as weekly, monthly, quarterly, and annual reports on investment risks, performance, and sustainability risks. The incumbent will also run Risk Dashboard reports and produce new risk reports as needed. Participation in the development, implementation, and evaluation of assigned programs and projects is essential, as is monitoring and analyzing program/project development and implementation. The Risk Officer will review relevant documents and reports, identify problems and issues, propose corrective actions, and liaise with relevant parties to track follow-up actions. The role requires conducting research, analyzing, and presenting information gathered from diverse sources, and contributing to the preparation of periodic investment performance reports. The Risk Officer will support performance and risk attribution analyses, participate in cross-functional projects, undertake survey initiatives, design data collection tools, and provide substantive support to consultative meetings and conferences. The incumbent will also coordinate activities related to budget and funding, prepare related documents and reports, and perform other duties as assigned by the Senior Risk Officer or Chief Risk and Compliance Officer.

Required Qualifications:
The position requires a comprehensive set of qualifications, including a deep understanding of investment risk management theories, concepts, and approaches. The Risk Officer must possess the ability to identify issues, analyze problems, and participate in their resolution. Proficiency in data collection using various methods is essential, along with conceptual analytical and evaluative skills for conducting independent research and analysis. Familiarity with various research sources, including electronic databases, is crucial. The incumbent must demonstrate the ability to apply sound judgment in the context of assignments, plan work effectively, and manage conflicting priorities. A strong sense of professionalism, accountability, and teamwork is expected, with a commitment to gender perspectives and equal participation in all areas of work.

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

Experience:
The position requires a minimum of five years of progressively responsible experience in investment risk management, investment performance, or a similar technical function for an asset manager or asset owner. Experience in coding with Python or other equivalent programming languages is mandatory. Additionally, at least two years of experience in managing risk for investment portfolios is desirable. Experience in implementing risk systems and integrating sustainable finance or ESG considerations into analytical work is also desirable, including reviewing ESG-related data and metrics to inform planning and decision-making.

Languages:
English is the required working language for this position, as it is one of the two working languages of the United Nations Secretariat, the other being French. Candidates must demonstrate proficiency in English, and knowledge of French is considered an asset, enhancing communication within the UN's diverse environment.

Additional Notes:
This position is full-time and is based in New York City. The role may involve international collaboration, and the organization is committed to recruiting a diverse workforce. Compensation and benefits will be aligned with UN standards, and the position may require the incumbent to engage in various outreach activities, including conducting training workshops and seminars.