Vacancy Number: 1981
Department/Unit: Risk Management
Deadline of Applications: July 3, 2024
Required Languages: English
Contract Type: Fixed Term Contract
Job Category: Professional
Grade: G
Job Profile
Under the supervision of the Advisor to the Chief Risk Officer, this position is responsible for planning and implementing highly strategic risk initiatives across the organization that aim to improve capital adequacy, operations planning and creditworthiness. It requires close co-ordination with and understanding of the perspectives of the rating agencies S&P and Fitch, peer AAA-rated multilateral development banks (MDBs), and other departments.
Duties and Responsibilities
Risk Ratings
• Prepares the data templates to be submitted biannually (S&P Global Ratings) or annually (Fitch Ratings). Contributes to the preparation of annual presentations to rating agencies.
• Develops expertise in rating agency methodologies. Stays up to date on changes to these methodologies and advises on the consequent implications for the OPEC Fund.
Risk Transfers
• Serves as Secretary on inter-departmental Working Groups, such as the working group to implement sovereign and non-sovereign risk transfers to meet the strategic objectives of improving the weighted average risk rating (WARR) of the loan portfolio and complying with rating agency targets for portfolio diversification.
• Liaises with AAA-rated MDBs, insurance counterparties and rating agencies for the implementation of risk transfers.
• Prepares materials for the Risk Management Committee endorsement and Governing Board approval of risk transfers.
Disbursements Model
• Develops and continuously improves a quantitative model to enable long-term operations planning to provide guidance on the required Commitments, broken up by type, needed to achieve organizational growth targets
OCR General Capital Increase & SCR Replenishment
• Contributes to risk analysis for highly strategic institutional exercises related to the possible Replenishment of Special Capital Resources (SCR) and a General Capital Increase for Ordinary Capital Resources (OCR).
Qualifications and Experience
• Master’s Degree or equivalent in either Business Administration, Finance, Accounting, Economics or related fields.
• Minimum 10 years of investment, treasury, and/or risk management experience with global or regional banks, fund managers, or multilateral/bilateral development financial institutions with specific experience in institutional credit ratings, risk transfers and quantitative modelling. Experience in a AAA-rated multilateral development bank is particularly relevant.
• Fluent in English.
Competencies
• Subject Matter Knowledge -The in-depth understanding and expertise in specific fields relevant to the OPEC Fund's operations and the individual's role.
• Collaboration and Teamwork - The ability to effectively work with colleagues, stakeholders and partners to achieve shared goals.
• Decision Making - The ability to analyse information comprehensively to make well-informed decisions; assess both immediate and long-term ramifications.
• Problem Solving Ability - The ability to identify issues adeptly, delve into root causes, and devise pragmatic solutions; demonstrate ingenuity and resourcefulness in overcoming challenges.
• Sense of Responsibility - The ability to demonstrate ownership and accountability in tasks and outcomes; uphold reliability and commitment to fulfilling responsibilities.
Technical competencies
• Extensive knowledge of financial concepts and quantitative tools of risk measurement and reporting, particularly in relation to credit ratings, risk transfers, and MDB operations.
• Project Management
• Full competency in MS Word, Excel and Power Point.
