Risk Management Specialist/Senior 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 Risk Policy and Architecture Division (RMPA) 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.

RMPA establishes and maintains policies, procedures, and tools for risk management that are consistent with those of other multilateral development banks (MDBs) and prudent banking principles. The principal responsibilities of RMPA include: (i) establishment and maintenance of best practice policies, methods and procedures for credit, market, and operational risk; (ii) development and maintenance of tools and systems to support enterprise-wide risk management; (iii) maintenance of a ratings desk; (iv) analysis, rating, and monitoring of the creditworthiness of ADB’s sovereign borrowers; (v) data management and (vi) limit monitoring and risk reporting.

Job Purpose

The Risk Management Specialist/Senior Risk Management Specialist will (i) lead or participate in the design, development, implementation, and maintenance of ADB´s policies, processes, guidelines, and tools for risk management. Interact with relevant departments across organization lines to improve processes, tools and guidelines as appropriate; (ii) specify and develop applications and IT Systems for risk management; and (iii) work within general policies, principles, and goals, working directly with clients.

The incumbent will report to Director, RMPA and will supervise National Staff and Administrative Staff.

Responsibilities

a. Risk Management

• Develops, implements, and maintains risk management policies, methodologies, and systems for identification, measurement, mitigation, and management of the risks in ADB’s balance sheet and operations.
• Enhances ADB’s model and methodologies for capital adequacy assessment.
• Supports the development of applications and information systems for capital, credit, market, and liquidity risk. Improves existing tools as appropriate.
• Consults with operations departments to identify risk issues and develops solutions that satisfy the technical and business need.
• Interprets policies and provide guidance to staff on risk management matters.
• Develops training programs and facilitates training for staff as necessary.
• Researches and analyzes various matters related to risk.
• Reviews and comments on policy and transaction documents prepared by other departments.
• Promotes the application of advanced risk analytics and technology to measure and monitor risk exposures
• Formulates and reviews risk management policies to ensure that appropriate systems, procedures, limits and guidelines are in effect.

b. Knowledge Sharing

• Maintains knowledge of emerging best practices, and new Basel standards in risk management.
• Leads the organization of training to promote a risk culture in ADB.
• Liaises with other multilateral development banks in sharing of information and knowledge on policies, methodologies, and related techniques used in risk management.
• Maintains liaison with other financial and academic institutions to obtain best practices on risk management policies and guidelines.
• Remains abreast of new developments relating to risk within the financial industry, including regulatory environment, rating agencies, and theoretical disciplines.

c. Staff Supervision

• Leads multidisciplinary teams and ensure the overall quality of its work.
• Supervises the performance of teams and individuals, providing clear direction and regular monitoring and feedback on performance.
• Provides coaching and mentoring to individuals and ensures their on-going learning and development.

Qualifications

Relevant Experience and Requirements

• Master´s degree in Mathematics, Engineering, or Finance with additional studies of mathematical/quantitative/statistics subjects. University degree and at least 5 years specialized experience relevant to the position can be considered.
• At least 8 years relevant professional experience from a ratings agency, international bank, export credit agency, international financial institution, or insurance company.
• Experience with developing/working with capital-at-risk/value-at-risk/expected shortfall models, as well as assessing model performance.
• Proven track record of managing portfolio credit risk for commercial entities and understanding of actuarial models would be an advantage.
• Strong analytical and quantitative skills and preferably familiar with the latest data science techniques such as machine learning and stochastic modelling.
• Knowledge of VBA, R, Python and MathLab would be an advantage.
• Excellent analytical capacity, leadership qualities and interpersonal skills.
• A well-developed understanding and interest in both quantitative and qualitative methods for risk analysis
• Experience and interest in statistical methods for assessing risk and model performance.
• Familiarity with the Basel and Solvency frameworks
• Ability to work in a multicultural and highly flexible team environment that relies heavily on cross-functional interaction.
• Excellent written and verbal communication skills in English.
• International experience working in several countries.
• Knowledge of swap valuation models and quantitative tools for fixed income valuation, risk, and performance measurement,
• Please refer to the links for ADB Competency Framework for International Staff Level 4 and 5

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.