Senior Risk Officer

Job Posting Organization:
The World Bank Group is a prominent global institution established to provide funding and knowledge to developing countries. It is a unique partnership comprising five institutions, dedicated to eradicating extreme poverty and fostering shared prosperity. With a membership of 189 countries and over 120 offices worldwide, the World Bank collaborates with both public and private sector partners to invest in innovative projects. The organization leverages data, research, and technology to devise solutions for pressing global challenges, making it one of the largest sources of financial and intellectual resources for development. For more information, visit www.worldbank.org.

Job Overview:
The Senior Risk Officer position is situated within the Operational Risk Department (CROOR) of the World Bank. This role is critical for individuals with over 10 years of practical experience in operational risk management. The officer will be responsible for leading risk-related initiatives and enhancing operational risk management practices across the organization. The role involves oversight of operational risks, development of methodologies for risk reporting, and collaboration with various business units to ensure effective identification and prioritization of risks. The Senior Risk Officer will also be tasked with providing training on operational risks and evaluating risk issues related to new products, thereby playing a vital role in the Bank's overall risk management strategy.

Duties and Responsibilities:
The Senior Risk Officer will have a diverse set of responsibilities, including: supporting first line of defense functions in operational risk management; enhancing the risk management framework; coordinating risk management initiatives; interacting with selected functions on operational risk matters; overseeing first line of defense functions; monitoring internal and external risk profiles; leading risk management initiatives; designing and implementing training strategies to strengthen risk culture; supporting secretariat functions for risk governance bodies; guiding business units in identifying and managing risks; facilitating quarterly operational risk reporting; managing relationships with internal audit; conducting research on operational risk trends; developing internal communication strategies; and advising senior management on technical operational risk issues. The role requires a proactive approach to risk management and collaboration across various teams within the Bank.

Required Qualifications:
Candidates must possess a Master’s degree or equivalent in a business or finance-related discipline. A minimum of 8 years of practical experience in risk management is essential, particularly in an operational risk function within complex organizations in the financial services sector or major multilateral organizations. Familiarity with risk frameworks, methodologies, and regulations such as Basel, ISO, and COSO is required. Experience in managing risks in regulated environments and exposure to emerging technologies like AI is highly desirable. Candidates should also have a proven track record in writing risk reports for senior management and risk committees, as well as implementing operational risk methodologies in banking or financial services contexts. Strong interpersonal skills and exceptional communication abilities are crucial for effective collaboration and stakeholder engagement.

Educational Background:
The educational background required for this position includes a Master’s degree or equivalent in a relevant field such as business, finance, or risk management. This advanced education is critical for understanding the complexities of risk management in a global financial context and for developing the analytical skills necessary for the role.

Experience:
The position requires a minimum of 8 years of practical experience in risk management, particularly in operational risk roles within complex organizations. Candidates should have experience in the financial services industry or in major multilateral organizations, demonstrating a solid understanding of risk frameworks and methodologies. Hands-on experience with governance risk and compliance tools is also essential, along with a proven ability to implement operational risk reporting effectively.

Languages:
The mandatory language for this position is English. Proficiency in additional languages is considered a plus, as it may enhance communication with diverse stakeholders and facilitate collaboration in a global environment.

Additional Notes:
This position is a full-time role with a term duration of 3 years. It involves international recruitment, indicating that candidates from various countries are encouraged to apply. The World Bank Group offers a comprehensive benefits package, including a retirement plan, medical, life, and disability insurance, as well as paid leave, including parental leave. The organization is committed to diversity and inclusion, ensuring equal opportunities for all applicants regardless of gender, identity, religion, race, ethnicity, sexual orientation, or disability.