Operational Risk Officer

Washington DC – Headquarters

The IDB Group is a community of diverse, versatile, and passionate people who come together on a journey to improve lives in Latin America and the Caribbean. Our people find purpose and do what they love in an inclusive, collaborative, agile, and rewarding environment.

About this position

The Financial and Operational Risk Division is looking for a professional with strong risk management background, specifically in operational risk management, to support IDB Invest management to deploy the operational risk management framework and improve and monitor internal controls in the IDB Invest’s units.

The team

The Financial and Operational Risk Management Division, part of the Risk Management Department, is managing financial and operational risks of IDB Invest. The team is divided into four main groups:

•  Portfolio Management : responsible for overseeing the growth of the portfolio, considering concentrations and other risk parameters, providing portfolio risk guidance to the business areas, managing portfolio limits, RAROC, Economic Capital, Risk Management MIS, reporting and limit controls, and quarterly calculation of provisions under the CECL.
•  Market Risk : responsible for the design, implementation, update, and ongoing execution of the Market Risk and Asset and Liability Management framework. The team identifies, quantifies, and monitors interest rate risk and foreign exchange risk of the balance sheet, and the price risk of the liquid investment portfolio. This group is also responsible for counterparty credit risk management.
•  Model Risk and Capital Adequacy : responsible for the internal economic capital models, rating agencies models, and the model governance framework, including model validation.
•  Operational Risk Management : responsible for assessing and maintaining an appropriate internal control environment, developing, and managing a full operational risk framework as a second line of defense.

What you’ll do

•  The candidate will support the activities related to the implementation of an Operational risk management framework for IDB Invest. The operational risk officer’s main activities will consist of:
•  Support the implementation of the Operational Risk Management framework in IDB Invest units.
•  Provide effective critical challenge of the identification, assessment, treatment, monitoring, and reporting of operational risk within IDB Invest processes, including those related to information technology.
•  Work closely with various levels within IDB Invest to collect, analyze, and document operational risk information.
•  Participate and document the review of new products and services, to assess inherent risk and conformance with the IDB Invest risk appetite.
•  Improve and maintain tools, processes, and documentation related to operational risk framework.
•  Test the design and effectiveness of the operational risk controls to mitigate the risk.
•  Document, review, and monitor the key risk indicators and operational risk incidents as well as manage the operational risk dashboard.
•  Compile and analyze process information to design operational risk reports and provide advice to the business divisions.
•  Participate in critical projects as a subject matter expert and provide guidance on the appropriate process documentation and risk assessment requirements.
•  Support the development and implementation of the qualitative and quantitative methodology of operational risk, to control losses.
•  Design and provide training to IDB Invest employees on operational risk framework.

Education : master’s degree in accounting, economy, finance, engineering, or other related field.

Certifications : CRISC, CISA, CISM, ISO 31000LA, ISO 27001LA, IS22301LA, and ORM are desirable.

Languages : oral and written proficiency in English and Spanish is required; knowledge of Portuguese is a plus.

Systems : Proficiency with Microsoft tools: Excel, Power Point, Visio, Power BI, and Google Analytics. Advanced user of operational risk management and data analytics tools.

Experience: Minimum of 4 years of relevant professional experience (minimum of 8 years desired) in risk management practices implementation at a peer institution, regulatory agency, financial services provider, and international firms. A minimum of 4 years of business processes risk assessment experience. Extensive experience in internal loss data and scenario analysis. Vast experience in process reengineering and optimization. Strong experience in developing and implementing operational risk framework as the second line of defense. Experience in the evaluation of information technology and business continuity risks. Experience applying project management standard methodologies to manage and monitor operational risk projects and operational risk strategies implementation. Experience in the implementation of COSO and ERM frameworks will be considered a plus. Additional experiences in economic capital, market risk, ALM, or credit portfolio management will be considered a plus.

Key skills : Strong analytical capabilities to gather and analyze business data. Proven problem-solving abilities and excellent interpersonal skills to effectively work with project teams and relevant partners. Ability to handle and prioritize multiple projects. Ability to synthesize complex information clearly for a broad range of audiences.

Requirements

Citizenship: No requirements

Consanguinity: You have no family members (up to fourth degree of consanguinity and second degree of affinity, including spouse) working at the IDB Group.

Opportunity Summary:

Type of contract: Fixed-Term International

Length of contract: 3 years.

Starting date: As soon as possible

Location: Washington, D.C. (headquarters)

What we offer

The IDB Group provides benefits that respond to the different needs and moments of an employee’s life. These benefits include: A competitive compensation package.

•  Leaves and vacations : 24 days of paid time off + 8 personal days + sick leave + gender- neutral parental leave.
•  Health Insurance : IDB Group provides employees and eligible dependents with a robust medical benefits program which covers medical, dental, vision, preventive care, and prescription drugs.
•  Pension plan : defined benefit pension plan that provides financial security and support employees in planning for their future.
•  We offer assistance with relocation and visa applications for you and your family, when it applies.
•  Hybrid and flexible work schedules
•  Health and wellbeing: Access to our Health Services Center which provides preventive care and health education for employees.
•  Development support : We offer tools to boost your professional profile such as mentoring, 1:1 professional counseling, training and learning opportunities, language classes, mobility options, among others.
•  Other perks: Lactation Room, Daycare Center, Gym, Bike Racks, Parking, Spouse Career Program, and others.

Our culture

At the IDB Group we work so everyone brings their best and authentic selves to work, willing to try new approaches without fear, and where they are accountable and rewarded for their actions.

Diversity, Equity, Inclusion and Belonging (DEIB) are at the center of our organization. We celebrate all dimensions of diversity and encourage women, LGBTQ+ people, persons with disabilities, Afro-descendants, and Indigenous people to apply.

We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job interview process. If you are a qualified candidate with a disability, please e-mail us at diversity@iadb.org to request reasonable accommodation to complete this application.

Our Human Resources Team reviews carefully every application.

About the IDB Group

The IDB Group, composed of the Inter-American Development Bank (IDB), IDB Invest, and the IDB Lab offers flexible financing solutions to its member countries to finance economic and social development through lending and grants to public and private entities in Latin America and the Caribbean.

About IDB Invest

IDB Invest, a member of the IDB Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and improve economic, social, and environmental development in the region. With a portfolio of $14.1 billion in asset management and 325 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a broad range of industries.

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Additional Information

•  External Opening Date: Jun 8, 2023
•  External Closing Date: Jun 26, 2023
•  External Contact Email: hrsc@iadb.org
•  External Contact Name: HR Service Center
•  Job Field: Risk Management