Principal Risk Officer, ICF, London, United Kingdom At European Bank for Reconstruction and Development (EBRD)

Requisition ID


Office Country

United Kingdom

Office City



Risk Management

Contract Type

Short Term

Contract Length

09 months

Posting End Date

Are you a highly skilled and experienced professional in risk management and internal control? Do you have a strong understanding of financial reporting and compliance frameworks? If so, the European Bank for Reconstruction and Development (EBRD) has an exciting opportunity for you to join their team as a Principal Risk Officer for the Internal Control Framework.

We are looking for a controls expert to coordinate EBRD internal controls attestation over Financial reporting. Self starter required who will be responsible for conducting the work, largely by themselves, interacting with a wide group of individuals across different levels and departments in the Bank. Focussing on the teams involved in Financial Reporting (Finance, s Ops, Risk, IT). Part of a broader team responsible for non-financial risk.

About EBRD

EBRD is an international financial institution that supports the development of market-oriented economies in countries from Central Europe to Central Asia and the Southern and Eastern Mediterranean. As a Principal Risk Officer at EBRD, you will contribute to the Bank’s mission of fostering sustainable and inclusive growth by ensuring effective internal controls over financial reporting.

Purpose of Job

As the Principal Risk Officer, your primary responsibility will be to establish, maintain, promote, and improve EBRD’s internal control framework over financial reporting. You will ensure compliance with the COSO 2013 framework, an internationally recognized standard used by SEC registered organizations to comply with the Sarbanes-Oxley Act in the US. By monitoring compliance, you will enable the Bank to assert in its consolidated financial statements that internal controls over financial reporting are designed and operating effectively. You will work closely with the Directors of teams involved in the financial reporting process across the Bank to identify, analyze, and advise on key risks, control issues, incidents data, and mitigation measures.


  •  Manage EBRD’s Internal Control Framework over Financial Reporting, ensuring compliance with the COSO 2013 framework.
  •  Continuously engage with the business to review, challenge, and identify risks related to financial reporting and escalate issues to the ICF Oversight Committee.
  •  Set and maintain the Bank’s Internal Control Framework, including definitions, testing procedures, operational processes, and timetables.
  •  Conduct ongoing reviews of changes in regulation and best practices, proposing and implementing appropriate changes in coordination with the Director ORM.
  •  Conduct detailed risk assessments of financial statements and fraud risks to identify areas of interest for review.
  •  Collaborate with Directors and Associate Directors to identify key risks and controls, challenge their effectiveness, and design more efficient controls when necessary.
  •  Provide training and guidelines to Directors and relevant teams to ensure effective implementation of the ICF methodology and best practices.
  •  Define the scope for independent testing of controls and oversee the testing process, reporting findings, and agreeing on remediation plans.
  •  Identify Bank-level governance controls, map them to COSO principles, and ensure their effective design and operation.
  •  Track, monitor, and report deficiencies through the Operational Risk system, ensuring adequate analysis, appropriate action plans, and escalation if necessary.
  •  Act as a member of the ICF Oversight Committee and ICF Sub Committee, providing governance over the internal control framework.
  •  Liaise with internal and external auditors, as well as business and IT risk and control owners.
  •  Perform additional risk and control activities as required by the Director ORM.


  •  Degree level education or equivalent.
  •  Qualified ACA or experience in Internal Audit, SOX, or COSO.
  •  Previous experience in a control-focused environment, preferably in a financial services organization.
  •  Strong understanding of financial reporting.
  •  Excellent analytical, relationship management, and communication skills.
  •  Ability to work autonomously and pay attention to detail.
  •  Proficiency in Microsoft Visio and Microsoft Office applications.
  •  Business awareness, planning, organizing, and team-working skills.

Join EBRD and contribute to the development of market-oriented economies while ensuring effective internal controls over financial reporting. Apply now as the Principal Risk Officer for the Internal Control Framework by submitting your resume and a cover letter outlining your relevant qualifications and experience. Take this opportunity to make a meaningful impact in a dynamic and international environment.

What is it like to work at the EBRD?

Our agile and innovative approach is what makes life at the EBRD a unique experience! You will be part of a pioneering and diverse international organisation, and use your talents to make a real difference to people’s lives and help shape the future of the regions we invest in.

The EBRD environment provides you with:

  •  Varied, stimulating and engaging work that gives you an opportunity to interact with a wide range of experts in the financial, political, public and private sectors across the regions we invest in;
  •  A working culture that embraces inclusion and celebrates diversity;
  •  An environment that places sustainability, equality and digital transformation at the heart of what we do.

Diversity is one of the Bank’s core values which are at the heart of everything it does. A diverse workforce with the right knowledge and skills enables connection with our clients, brings pioneering ideas, energy and innovation. The EBRD staff is characterised by its rich diversity of nationalities, cultures and opinions and we aim to sustain and build on this strength. As such, the EBRD seeks to ensure that everyone is treated with respect and given equal opportunities and works in an inclusive environment. The EBRD encourages all qualified candidates who are nationals of the EBRD member countries to apply regardless of their racial, ethnic, religious and cultural background, gender, sexual orientation or disabilities. As an inclusive employer, we promote flexible working and expecting our employee to attend the office 50% of their working time.



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December 2023