Principal Risk Management Specialist

IMPORTANT INFORMATION:

Close relatives¹ of ADB staff, except spouses of international staff, are not eligible for recruitment and appointment to staff positions. Applicants are expected to disclose if they have any relative/s by consanguinity/blood, by adoption and/or by affinity/marriage presently employed in ADB.

¹ Close relatives refer to spouse, children, mother, father, brother and sister, niece, nephew, aunt and uncle

Staff on probation are not eligible to apply. Applicants for promotion must have served at their position for at least one year and must have normally served at their personal level for at least two years immediately preceding the date of the vacancy closing date. Applicants for lateral transfer must have served at their position and personal level for at least one year immediately preceding the date of the vacancy closing date (reference A.O. 2.03, paragraphs 5.8 and 5.9).

In the event that the staff appointed to a new category (i.e. from AS to NS, or from NS to IS) is rated at 2 or lower in the first two performance reviews after appointment at the new level, they will return to the level occupied immediately prior to their appointment in the new category.

Overview

Asian Development Bank (ADB) is an international development finance institution headquartered in Manila, Philippines and is composed of 68 members, 49 of which are from the Asia and Pacific region. ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. ADB combines finance, knowledge, and partnerships to fulfill its expanded vision under its Strategy 2030.

ADB only hires nationals of its 68 members.

The position is assigned in the Treasury and Operational Risk Unit (RMTO) within the Office of Risk Management (ORM). ORM has a broad mandate and ensures that ADB’s Treasury, Sovereign, and Nonsovereign operations are sustainable by safeguarding ADB’s rating, advising Board and Management on risk issues and implementation and promoting a strong internal risk culture.

RMTO is responsible for the proper management of market and treasury credit risk exposures in ADB; monitoring and measuring the performance of ADB’s internally and externally managed investment portfolios; and performing independent derivative transaction confirmation, position valuation/analysis, and overall limit compliance monitoring. RMTO also supports ADB in the management of operational risks through risk identification, measurement, monitoring, and reporting across ADB.

To view ADB Organizational Chart, please click here.

Job Purpose

The Principal Risk Management Specialist designs, develops, implements, and maintains an integrated operational risk management framework in coordination with relevant departments across organizational lines. The position (i) leads in operating the framework within ADB’s various departments to consistently and comprehensively identify, measure, monitor, mitigate, and report operational risk and provides leadership in client relationships across ADB with a stewardship on organizational resilience as well as outsourcing, third party supply chain, and project/consultant procurement risks; (ii) leads in the formulation of ADB policies, guidelines and practices on risk management; (iii) works within general policies, principles and goals, working directly with clients; (iv) leads in the application of operational risk management tools in the identification and assessment of operational risks; and (v) provides leadership in the dissemination of operational risk information to Management.

The incumbent will report to Advisor, RMOD and Head, RMTO and will supervise national and administrative staff.

Responsibilities

a. Risk Management

• Leads in developing, implementing, and maintaining policies, guidelines, and processes to identify, measure, monitor, mitigate, and report operational risk in ADB HQ and field/satellite offices.
• Maintains a strong stewardship across ADB’s organizational resilience as well as outsourcing, IT Security, third-party supply chain and project procurement/consultant risk. Provides an independent risk management oversight (second line of defense) to ensure an integrated and holistic view of organizational resilience and third-party risks.
• Defines requirements and monitors the application of effective implementation and maintenance of operational risk processes and tools.
• Develops, maintains and contributes to a loss database in line with the operational risk framework.
• Identifies and engages process owners and relevant stakeholders to facilitate targeted deep dives, special reviews and any additional directives from senior leadership,
• Provides subject matter expert guidance, challenge and oversight to organizational resilience, third party, project procurement/consultant risk owners in the conduct of their transaction, control and monitoring activity. Designs and develops relevant analytical tools and processes to support the monitoring and reporting of operational risk events.
• Develops a good working relationship with other departments to ensure that the framework is effectively bought in and implemented across all relevant areas.
• Promotes the application of advanced risk analytics available to measure and monitor operational risk exposures and capital requirement.
• Leads in the implementation and maintenance of analytical systems and reporting requirements of operational risk to enhance the timeliness, completeness, and accuracy of information to end-users via report automation, query access to data, and web-based reporting solutions.
• Leads in the project management of system implementations, data warehousing projects and other specialized projects to meet operational requirements.
• Performs treasury risk related functions as assigned and reflected in the incumbent’s work plan.

b. Policy and Methodology

• Monitors and escalates issues relevant to the Operational Risk Management Framework.
• Leads in providing support and inputs in the review and updating of ADB’s policies, guidelines, and practices on operational risk management to maintain good practices.

c. Knowledge Sharing

• Provides Leadership in the dissemination of operational risk information to Management.
• Maintains knowledge of emerging best practices, new Basel standard and other international standards in operational risk management.
• Serves as a resource person and provides support in organizing and conducting risk training to promote a risk culture in ADB.

d. Staff Supervision

• Provides leadership and support to reporting staff.
• Supervises the performance of reporting staff, providing clear direction and regular monitoring and feedback on performance.
• Ensures the on-going learning and development of reporting staff.

Qualifications

Relevant Experience & Requirements

• Master’s Degree, or equivalent, in finance, accounting, business administration, economics or related fields; University degree in finance, accounting, business administration, economics, or related field, combined with specialized experience in similar organization/s, may be considered in lieu of a Master’s degree.
• At least 12 years of relevant experience in risk and operational risk management, preferably in international financial institutions or multilateral/bilateral development organizations.
• Understanding of risk management principles, methodologies and tools, and governance principles and activity in a financial services environment.
• An excellent understanding of third-party supply chain risk, international procurement, IT Security, and organizational resilience. Fluid understanding of third-party risk management principles, international procurement and organizational resilience, including experience with control definition and application of controls in a business context.
• Proficiency in operational risk data management and analysis.
• Relevant financial services sector experience and knowledge of financial industry regulatory environment related to Operational Risk and to a lesser extent Treasury Risk.
• Proven track record in the development and deployment of operational risk measurement models.
• Understanding operational risk characteristics including the development of Operational Risk monitoring tools including Deep Dives, Operational Risk Self Assessments, Scorecards, Key Risk Indicators (KRIs) and operational risk capital modeling.
• Demonstrated project management expertise and experience in operational risk systems.
• Strong written and verbal communication skills with proven ability in communicating with senior managers.
• Possess strong communication and relationship building skills.
• International experience working in several countries.
• Please refer to the link for ADB Competency Framework for International Staff Level 6.

General Considerations

The selected candidate is appointed for an initial term of 3 years.

ADB offers competitive remuneration and a comprehensive benefits package. Actual appointment salary will be based on ADB’s standards and computation, taking into account the selected individual’s qualifications and experience.

ADB seeks to ensure that everyone is treated with respect and given equal opportunities to work in an inclusive environment. ADB encourages all qualified candidates to apply regardless of their racial, ethnic, religious and cultural background, gender, sexual orientation or disabilities. Women are highly encouraged to apply.

Please note that the actual level and salary will be based on qualifications of the selected candidate. #li-dni