Head of Risk and Financial Management

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 while ensuring a sustainable planet. Founded in 1944, the WBG has grown to include 189 member countries and operates more than 120 offices worldwide. The organization is one of the largest sources of funding and knowledge for developing countries, focusing on solving the world's most pressing development challenges. The WBG collaborates with public and private sector partners, invests in innovative projects, and utilizes data, research, and technology to drive transformative change globally. For more information, visit www.worldbank.org.

Job Overview:
The Head of Risk and Financial Management at the Climate Investment Funds (CIF) will play a pivotal role in providing strategic leadership to ensure that CIF's resources are managed prudently and transparently. This position is critical for aligning financial management with governance decisions and maintaining an optimal capital adequacy trajectory. The successful candidate will oversee CIF-wide risk management and financial planning, leading key financial mechanisms such as the Clean Technology Fund's Capital Market Mechanism (CCMM) and High Leverage Modality (HLM). Reporting directly to the Deputy CEO, the Head will collaborate closely with CIF senior leadership, partner Multilateral Development Banks (MDBs), and the World Bank in its capacity as Treasury Manager and Trustee. This role requires a dynamic leader who can effectively deploy an expanding set of financial instruments while meeting CIF's impact objectives.

Duties and Responsibilities:
The duties and responsibilities of the Head of Risk and Financial Management include:

• Leadership and Engagement: Leading and developing the Risk and Financial Management team, setting work plans, mentoring staff, and ensuring high-quality delivery. Serving on the CIF extended leadership team and participating in relevant internal committees. Representing CIF externally on risk and finance matters in coordination with the Treasury Manager.
• Risk Management: Implementing and periodically strengthening CIF's risk management framework, updating risk policies and procedures. Developing investment criteria and risk thresholds throughout the programming cycle to ensure optimal portfolio risk trajectory. Maintaining risk indicators and appetite thresholds, producing risk dashboards and periodic reports for senior management and the Trust Fund Committee (TFC). Leading portfolio risk analysis, forecasting, and stress testing, and developing tools for streamlined reporting.
• CTF Capital Markets Mechanism (CCMM): Providing input for the effective operation of CCMM, contributing to cash-flow projections, liquidity planning, and financial monitoring. Supporting data quality across MDBs' reporting streams relevant to CCMM.
• Budget and Broader Financial Management: Overseeing budget preparation, approval, and execution, strengthening forecasting and internal controls. Improving disbursement performance and leading operational workstreams affecting financial management, including HLM implementation and private capital mobilization.

Required Qualifications:
The required qualifications for this position include:

• A minimum of 10 years of professional experience in risk management and/or asset and liability management, with a focus on capital adequacy risk management.
• Strong capability in financial modeling, with programming languages considered an asset.
• Demonstrated experience in people management and mentoring.
• Proven ability to support senior decision-making through clear analysis and writing.
• Experience engaging with boards or committees and managing complex stakeholders.
• A Master's degree in finance, risk management, or an equivalent degree.

Educational Background:
Candidates must possess a Master's degree in finance, risk management, or a related field. This educational background is essential for understanding the complexities of financial management and risk assessment in a global context.

Experience:
The position requires a minimum of 10 years of relevant professional experience, particularly in risk management and asset and liability management. Candidates should have a strong focus on capital adequacy risk management and demonstrate a proven track record in managing financial risks effectively.

Languages:
While the job posting does not specify mandatory languages, proficiency in English is typically required for positions at the World Bank Group. Additional languages may be beneficial, particularly those relevant to the regions in which CIF operates.

Additional Notes:
This position is classified as an international recruitment role with a term duration of 3 years. The World Bank Group offers a comprehensive benefits package, 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 opportunity for all candidates regardless of gender, gender identity, religion, race, ethnicity, sexual orientation, or disability.