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Type of Role: InvestmentsRisk

Experience Level: VP/Principal/Director

Location: Washington, D.C.

Salary: $102K - $189K

Do you want to build a career that is truly worthwhile? Working at the World Bank Group provides a unique opportunity for you to help our clients solve their greatest development challenges. The World Bank Group is one of the largest sources of funding and knowledge for developing countries; a unique global partnership of five institutions dedicated to ending extreme poverty, increasing shared prosperity, and promoting sustainable development. With 189 member countries and more than 120 offices worldwide, we work with public and private sector partners, investing in groundbreaking projects and using data, research, and technology to develop solutions to the most urgent global challenges. For more information, visit www.worldbank.org

Risk Officer

Job #:req25160
Organization:World Bank
Sector:Risk
Grade:GF
Term Duration:3 years 0 months
Recruitment Type:International Recruitment
Location:Washington, DC,United States
Required Language(s):English
Preferred Language(s):
Closing Date:12/6/2023 (MM/DD/YYYY) at 11:59pm UTC

Description

The office of the Chief Risk Officer (CRO) is responsible for leading the risk management function for IBRD and IDA, with oversight responsibility for financial and operational risks including policy formulation, measurement, monitoring and reporting. The CRO works closely with other risk units in the Bank Group to address cross-cutting issues, support innovation in a sustainable manner and share best practices. It also fosters collaboration in risk management across other MDBs. CRO plays a key role in capital structure and interaction with rating agencies as well as internal and external auditors and Board communication on risk related matters. It consists of Country Credit Risk Department (CROCR), Market and Counterparty Risk Department (CROMC), and Operational Risk Department (CROOR).

The Market & Counterparty Risk Directorate (CROMC) focuses on oversight of risk in three main areas: 1) Market risk, which covers ALM, interest-rate, spread (funding and investments) foreign-exchange risk, and the availability/cost of, or access to, ready liquidity and long-term funding; 2) Counterparty (i.e., no sovereign-lending) Exposure & Liquidity risk, which includes risks to IBRD resulting from changes in creditworthiness of IBRD’s commercial/derivative counterparties, and MTM/liquidity risks of the treasury investment portfolios; and 3) Model risk, which covers financial-risk models, across the WBG excluding IFC, in terms of model, risk, and governance.

The Market & Counterparty Risk Directorate (CROMC) is now looking to recruit a Risk Officer to focus on quantitative risk model development and management.
The position is based in Washington, D.C and will report directly to Andrea Foresti, Market and Counterparty Risk.

Duties and Accountabilities
Key responsibilities will include:

• Contribute to the development and implementation of quantitative risk models and tools;
• Perform diagnostic and analytical tasks to support model development and validation;
• Manage data ingestion, transformation, and storage processes, ensuring data quality and integrity;
• Produce high-quality technical documentation and manuals to support model development and implementation;
• Collaborate with other teams in the execution of projects and daily activities;
• Deliver presentations to both internal and external audiences, clearly communicating complex technical concepts; and
• Stay current with the latest developments in quantitative modelling techniques, identifying opportunities to improve existing models and tools.

 

Selection Criteria

 

• Master’s degree (preferably in Computer Science/Finance) with 5 years of relevant experience or equivalent combination of education and experience;
• Excellent proficiency in C#, SQL, and Python;
• Experience with numerical computing and associated libraries (BLAS/LAPACK, Math.NET Numerics, Numpy/Scipy, Pandas/Polars, Scikit-learn,…);
• Familiarity with statistical techniques and machine learning;
Highly desirable (but not strictly required):
• Proficiency with Numerix products (especially CrossAsset and Oneview);
• Experience with cross-platform development;
• An existing public portfolio (git repo, website,…);
• Experience with the visual display of quantitative information and, in particular, with data visualization and business intelligence tools;
• Basic understanding of financial concepts; and
• Familiarity with other programming languages (F#, Javascript/Typescript, Rust, Java)

WBG Competencies:
• Innovate – Develops innovative solutions
• Deliver Results for Clients – Proactively addresses clients’ stated and unstated needs
• Collaborate Within Teams and Across Boundaries – Collaborates across boundaries, gives own perspective and willingly receives diverse perspectives
• Create, Apply and Share Knowledge – Applies knowledge across WBG to strengthen solutions for internal and/or external clients
• Make Smart Decisions – Interprets a wide range of information and pushes to move forward

 

World Bank Group Core Competencies

The World Bank Group offers comprehensive benefits, including a retirement plan; medical, life and disability insurance; and paid leave, including parental leave, as well as reasonable accommodations for individuals with disabilities.

We are proud to be an equal opportunity and inclusive employer with a dedicated and committed workforce, and do not discriminate based on gender, gender identity, religion, race, ethnicity, sexual orientation, or disability.

Learn more about working at the World Bank and IFC, including our values and inspiring stories.