Principal Operational Risk Officer

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

• The EBRD's mission is to foster the transition to open market-oriented economies and promote private and entrepreneurial initiative in countries from Central Europe to Central Asia and the Southern and Eastern Mediterranean. The organization operates in over 30 countries and employs a diverse workforce of approximately 2,000 employees. The EBRD is committed to sustainable development and aims to support projects that enhance economic growth while promoting environmental sustainability and social inclusion.

Job Overview:
The Principal Operational Risk Officer plays a crucial role in supporting the Associate Director of Operational Risk by fostering a strong risk culture within the EBRD. This position involves implementing the Operational Risk Framework across the organization, ensuring that operational risks are effectively identified, managed, and mitigated. The successful candidate will be responsible for delivering key projects, performing risk identification, and monitoring remediation activities. The role requires a proactive approach to operational risk management, which is essential for meeting business objectives and is recognized as a core competence by various stakeholders, including clients and rating agencies. The Principal Risk Officer acts as a second line of defense, providing independent oversight of risks managed by the business and challenging business areas in their risk assessments and control effectiveness. Additionally, the role involves analyzing incidents and issues, developing dashboards and infographics for risk communication, and providing expert consultancy in risk identification and control design.

Duties and Responsibilities:
The Principal Risk Officer is expected to demonstrate significant independence and decision-making ability while continuously engaging with the business to review and challenge operational risk information. Key responsibilities include: ensuring that businesses identify, manage, mitigate, report, and escalate operational risks in line with EBRD requirements; advising and educating colleagues on their roles and responsibilities regarding operational risk policy; developing and delivering the operational risk plan across departments; representing Operational Risk Management at internal committees; making autonomous decisions based on analysis of incidents and business indicators; conducting root cause analysis of material issues; identifying knowledge gaps and ensuring effective training; supervising the drafting of ORM guidelines; contributing to the development of the Operational Risk Management System; maintaining management information and operational risk reporting; and developing external relationships to stay updated on best practices.

Required Qualifications:
Candidates must possess a degree or equivalent in a risk-related field such as Accountancy, Risk Management, Chartered Financial Analyst, or Chartered Accountant. They should have at least 5 years of experience in operational risk within a financial services organization, along with experience in developing and deploying Operational Risk Management Frameworks and tools. Knowledge of Risk Appetite and Scenario Analysis development and implementation is essential, as well as experience in operational risk reporting and governance. Familiarity with banking products and development bank experience is advantageous. Candidates should be motivated, proactive, and skilled at managing multiple complex tasks efficiently, with strong analytical and problem-solving skills. Excellent oral and written communication skills are required, along with the ability to engage and influence business leaders effectively.

Educational Background:
A degree in a relevant field such as finance, risk management, or accountancy is required. Additional certifications such as Chartered Financial Analyst (CFA) or Chartered Accountant (CA) are beneficial and may enhance a candidate's profile.

Experience:
Candidates should have a minimum of 5 years of experience in risk management, specifically in operational risk within a financial services context. Experience in developing and implementing operational risk frameworks and tools is crucial, as well as familiarity with risk appetite and scenario analysis. Proven experience in operational risk reporting and governance is also necessary, along with a strong understanding of banking products and development bank operations.

Languages:
Fluency in English is mandatory, as the role requires excellent communication skills for presenting to senior stakeholders. Knowledge of additional languages may be considered an asset but is not explicitly required for this position.

Additional Notes:
This position is a regular contract role with a contract length that is not specified. The EBRD promotes a hybrid workplace model that offers flexibility to employees. The organization values diversity and encourages applications from qualified candidates regardless of their background. The EBRD provides a comprehensive suite of competitive benefits and prioritizes employee wellbeing.