Credit Risk Officer - MIGFR

Job Posting Organization:
The job posting organization is the Multilateral Investment Guarantee Agency (MIGA), which is part of the World Bank Group (WBG). MIGA was established in 1988 and operates with a mission to promote foreign direct investment in developing countries by providing political risk insurance and credit enhancement. The organization has a global presence with 189 member countries and more than 120 offices worldwide. MIGA plays a crucial role in helping countries address their development challenges by mobilizing private sector investment and providing guarantees that mitigate risks associated with investments in developing markets. The agency focuses on sustainable development and poverty alleviation, working closely with public and private sector partners to implement innovative solutions to pressing global issues.

Job Overview:
The Credit Risk Officer position within MIGA's Finance and Risk Department (MIGFR) is a critical role that involves assessing, rating, and monitoring the credit risk associated with state-owned enterprises (SOEs) in developing markets. The selected candidates will be responsible for evaluating the creditworthiness of SOEs where MIGA is considering providing credit enhancement under its Non-Honoring of Financial Obligations by State-Owned Enterprises (NHFO SOE) guarantee product. This role requires a deep understanding of credit risk analysis and the ability to conduct thorough credit due diligence. The Credit Risk Officers will also support the evaluation of reinsurance counterparties and contribute to broader analytical work related to portfolio monitoring and the maintenance of MIGA's risk limit framework. The position demands collaboration with various teams within MIGA to assess and structure emerging guarantee products and solutions, ensuring that the organization's risk management practices remain robust and effective.

Duties and Responsibilities:
The selected Credit Risk Officers will have a range of duties and responsibilities, including but not limited to: participating in underwriting teams for new NHFO SOE transactions, conducting comprehensive credit due diligence, recommending appropriate credit risk mitigants or structural enhancements, and submitting and presenting SOE credit analyses to relevant MIGA decision-making committees. They will also contribute to the preparation of documents for MIGA's Board of Directors and support the ongoing monitoring of the credit quality of MIGA's NHFO SOE portfolio. In terms of reinsurance credit activities, the officers will conduct annual and ad hoc credit risk analyses of reinsurance counterparties, prepare detailed written credit assessment reports and rating recommendations, and actively participate in MIGA's quarterly Reinsurer Counterparty Credit Risk Committee to present their findings and recommendations. Additionally, they will be expected to contribute to broader analytical work related to portfolio monitoring and the maintenance of MIGA's risk limit management framework, as well as provide support for other risk initiatives as needed.

Required Qualifications:
Candidates must possess a master's degree (e.g., MBA, Finance) and have at least 5 years of solid and relevant experience in credit risk analysis. This experience should include exposure to corporates, financial institutions, state-owned enterprises, and/or reinsurance counterparties. Alternatively, an equivalent combination of education and experience will be considered. Candidates must demonstrate deep technical knowledge of credit risk analysis, ideally acquired in a major financial institution or credit rating agency. Familiarity with rating agency methodologies and experience conducting bespoke corporate and/or SOE credit analyses is essential. The ability to assess transaction-related SOE exposures and reinsurance counterparty risk, particularly in emerging markets, is also required. Exposure to broader portfolio risk monitoring, risk limit framework management, and risk framework governance would be advantageous. A high level of AI literacy applied to risk management is preferable.

Educational Background:
The educational background required for this position includes a master's degree in a relevant field such as finance, business administration, or a related discipline. Candidates with an MBA or equivalent advanced degree will be preferred, as this level of education provides the necessary analytical and strategic thinking skills required for the role. The educational qualifications should be complemented by substantial experience in credit risk analysis and financial assessment, ensuring that candidates are well-equipped to handle the complexities of the position.

Experience:
The level of experience needed for the Credit Risk Officer position is a minimum of 5 years in credit risk analysis, with a strong emphasis on relevant experience in evaluating the creditworthiness of state-owned enterprises, corporates, and financial institutions. Candidates should have a proven track record of conducting credit due diligence and risk assessments, particularly in the context of emerging markets. Experience in working with reinsurance counterparties and familiarity with risk management frameworks will be considered a significant advantage. The role requires candidates to demonstrate their ability to work effectively under pressure and to manage multiple assignments simultaneously, often within tight deadlines.

Languages:
The mandatory language for this position is English, as it is the primary language of communication within the organization. Excellent written and oral communication skills in English are essential for the role, particularly for preparing reports and presenting analyses to decision-making committees. Proficiency in additional languages, such as Spanish or French, is considered a plus and may enhance a candidate's suitability for the position, especially in a multicultural work environment.

Additional Notes:
This position is a local recruitment opportunity 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 creating an inclusive and diverse workforce and does not discriminate based on gender, gender identity, religion, race, ethnicity, sexual orientation, or disability. Candidates should be motivated and enthusiastic about the challenges of working in a development institution and should possess strong personal integrity and professional judgment. The role requires a collaborative team player who can build effective relationships across the organization and work independently while prioritizing assignments.