Associate Risk Officer- Credit & Counterparty Risk

Job Posting Organization:
The World Bank, a member of the World Bank Group (WBG), is a global organization that aims to address the world's most pressing development challenges. Established to support economic development and reduce poverty, the World Bank operates in 145 countries with over 182 offices worldwide. The organization employs a diverse workforce committed to investing in people, strengthening markets, and delivering scalable, data-driven solutions that generate more and better jobs and improve lives. The World Bank's mission is to end extreme poverty and promote shared prosperity, focusing on sustainable development and inclusive growth.

Job Overview:
The Associate Risk Officer position within the International Finance Corporation (IFC) is a critical role that focuses on counterparty and credit risk management. The successful candidate will join a dynamic international team responsible for monitoring derivatives exposure and conducting quantitative risk analytics. This role is essential in ensuring effective risk management practices are in place, particularly in the context of derivatives and structured finance products. The Associate Risk Officer will be involved in various tasks, including monitoring and analyzing derivatives exposures, implementing Basel counterparty credit risk standards, and providing credit risk sign-off on limit monitoring. The position requires a strong analytical background and the ability to assess new products and structured transactions, making it vital for the organization's risk management framework.

Duties and Responsibilities:
The duties and responsibilities of the Associate Risk Officer include:

• Exposure Monitoring & Reporting: Contributing to the daily monitoring, analysis, and reporting of counterparty credit risk exposures, including Potential Future Exposure (PFE), Expected Exposure (EE), and Exposure at Default (EAD).
• ISDA / CSA Management: Maintaining and analyzing ISDA Master Agreements and Credit Support Annexes, performing comparative analyses, and resolving counterparty credit issues.
• Basel Capital Standards: Monitoring and assessing Basel capital standards relevant to counterparty credit risk and supporting their incorporation into risk measurement and governance practices.
• Analytics & Automation: Developing and enhancing reporting dashboards and applying advanced analytics to improve risk surveillance.
• New Product Assessment: Assessing counterparty credit risk for new products and providing analytical input to transaction reviews.
• Senior Management Reporting: Preparing risk assessments and presentations for senior management and governance committees.
• Structured Products Analysis: Conducting quantitative analysis of structured and securitized products, evaluating risk-return trade-offs, and preparing analytical materials for management.
• Local Currency Risk Frameworks: Supporting the development of local currency risk frameworks and monitoring tools.

Required Qualifications:
Candidates must possess a Master's degree in Finance, Economics, Statistics, Mathematics, Financial Engineering, or a related quantitative discipline. Additionally, at least five years of relevant experience in derivatives valuation, counterparty credit risk, or credit risk modeling is required. A strong understanding of counterparty exposure and valuation concepts, including PFE, EE, EAD, CVA, and FVA, is essential. Candidates should also have strong programming skills in Python, R, MATLAB, or SQL, and the ability to communicate complex quantitative analyses clearly to both technical and non-technical audiences. Collaboration skills are crucial, as the role requires working across various teams within the organization.

Educational Background:
The educational background required for this position includes a Master's degree in a quantitative discipline such as Finance, Economics, Statistics, Mathematics, or Financial Engineering. This advanced education is necessary to equip the candidate with the analytical skills and knowledge required to perform complex risk assessments and analyses effectively.

Experience:
The position requires at least five years of relevant experience in fields such as derivatives valuation, counterparty credit risk, or credit risk modeling. This experience should ideally be gained within an investment bank, multilateral development bank, rating agency, or similar financial institution. Candidates with strong quantitative skills but limited experience in securitized products are also encouraged to apply, indicating that the organization values potential and the ability to learn over strict adherence to specific experience requirements.

Languages:
The mandatory language for this position is English. Proficiency in additional languages is preferred but not explicitly required, indicating that while English is the primary language of communication within the organization, knowledge of other languages may be beneficial in a global context.

Additional Notes:
This position is classified as an Open-Ended Staff role, indicating that it is not tied to a specific contract duration and may offer long-term employment opportunities. The recruitment type is international, suggesting that candidates from various countries are encouraged to apply. The World Bank Group offers comprehensive benefits, 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 opportunities for all candidates regardless of gender, religion, race, ethnicity, sexual orientation, or disability.