Managing Director, Risk Management

Job Posting Organization:
The European Bank for Reconstruction and Development (EBRD) is an international financial institution founded in 199

• Its mission is to promote the transition to open market-oriented economies and to foster private and entrepreneurial initiative in countries from Central Europe to Central Asia. The EBRD operates in over 30 countries and employs a diverse workforce of approximately 2,000 employees. The organization is committed to sustainable development and aims to support projects that enhance the quality of life in the regions it serves.

Job Overview:
The Managing Director (MD) of Risk Management plays a crucial role in the EBRD, reporting directly to the Vice President and Chief Risk Officer (VP CRO). This position is responsible for the continuous enhancement of the Bank’s enterprise risk management framework. The MD will advise the VP CRO, Executive Committee, and the Board of Directors on the Bank’s Risk Appetite, ensuring that all material risks are identified, assessed, monitored, and escalated in a timely manner. The MD will lead a team of risk management professionals, ensuring the implementation of the department’s mandate, which includes external benchmarking and the design and implementation of frameworks and standards. The role requires influencing stakeholders and exercising balanced judgment around delegated authority, making it pivotal to the Bank's overall risk management strategy.

Duties and Responsibilities:
The MD is accountable for providing thought leadership in the design and implementation of the Bank’s Enterprise Risk Management Framework. This includes ensuring that risk policies and practices reflect current best practices and are calibrated to effectively manage the risks faced by the EBRD. The MD will lead the risk management staff, focusing on engagement, performance management, coaching, and development. The role also involves strategic talent and workforce planning, fostering open relationships with stakeholders, and contributing to the strategic direction of the Bank. The MD will exercise delegated authority, including approvals of Non-Performing Loan (NPL) restructuring and new financing provisions, and oversee risk reporting and analysis to various committees and external auditors. As a member of the Senior Leadership Group, the MD will champion the Bank’s Behavioral Competencies and Corporate Behaviors, ensuring high standards of integrity and ethical conduct are maintained within the department.

Required Qualifications:
Candidates must possess proven extensive knowledge and experience in managing risks, including credit, market, and operational risk, ideally from key risk roles such as Chief Risk Officer (CRO) or Deputy CRO in similar or larger institutions within the financial services industry. An awareness of the unique challenges faced by development banks and the risks in the countries where the Bank operates is essential. Candidates should demonstrate experience in influencing the strategic direction of an organization, building and leading diverse teams, and driving engagement. Excellent communication skills are required, particularly the ability to address complex issues straightforwardly and present confidently to various stakeholders.

Educational Background:
A relevant degree or equivalent professional experience is required for this position. Candidates should have a strong educational background that supports their understanding of risk management principles and practices.

Experience:
The position requires significant experience in risk management roles, with a proven track record of successfully managing risks in complex environments. Candidates should have experience in engaging with senior management and influencing strategic decisions within an organization.

Languages:
Fluency in English is mandatory, and knowledge of additional languages relevant to the EBRD's operational regions would be advantageous.

Additional Notes:
This is a fixed-term contract for 4 years, with the potential for renewal for an additional 4 years. The position is full-time, and the EBRD promotes flexible working arrangements, expecting employees to attend the office 50% of their working time. The recruitment process is being conducted in collaboration with an external search firm, Russell Reynolds, and candidates should be aware that their details will be shared with this third party. The EBRD encourages applications from all qualified candidates, regardless of their background, and is committed to maintaining a diverse and inclusive workforce.