World Bank Group Regional Chief Risk Officer - Jobs in South Africa
World Bank Group Regional Chief Risk Officer - Jobs in South Africa
DescriptionIFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets.
We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries
Duties and Accountabilities
Responsible for risk service delivery and management of CIR work program within the Region.
Accountable for the setting of and ensuring compliance with service standards, including timeliness, input quality, and impact in the Region.
Ensure adherence to the "Credit Client Service Framework."Risk representative on the MEA Region leadership team.
Act as the counterpart to regional and industry directors, monitor and review regional pipeline and performance of the portfolio in the Region, understand drives of performance, and how risks are managed.
Monitor and address issues relating to country and sector exposure.
Responsible for resolving disagreements between investment departments and CIR, approving exceptions and operational decisions, and providing input for escalations in Region referred to Director CIR and Risk & Finance VPU.
Provide feedback to Director CIR, IFC Risk and Finance, and senior management as needed on the quality of investments made in the Region, communicate and coordinate new initiatives relevant to specifics risks and/or business opportunities in their Region, such as Fragile and Conflict Situations (FCS) and International Development Association (IDA).
Serve as a member of the credit and risk leadership team. Provide the Credit Director and IFC's Risk and Finance VPU strategic input, support, and leadership in resolving complex, priority, and/or strategic initiatives for the department, VPU, and/or corporate initiatives.
Serve as the first point of call for all escalations in Region (new business and portfolio), determination of the need for further escalation to Director CIR or Risk & Finance VPU and provide expert input to resolve highly complex and contentious issues in new transactions and portfolio in the Region.
Provide input on all escalations in Region to Director CIR and IFC Risk & Finance VPU, including ensuring the effectiveness of communication of matters escalated.
Lead together with relevant Regional and Industry Directors the quarterly portfolio reviews.Work with Credit Officers, Special Operations (CSO) and Portfolio Managers to ensure challenging projects and trends in the portfolio are identified in a timely manner, credit watchlists are up to date, and projects are transferred in a timely manner to Special Operations (CSO), credit and facility ratings adequately reflect risks, Equity valuations are adequate.
Responsible for coordinating activities between CIR and Corporate Risk Management (CRM), Special Operations (CSO), IFC Controller (CNT), Portfolio Management (CPM), and Economic Department.
Supervisor of regionally-based CIR staff
(including the Insurance Unit) and co-supervisor of other CIR staff working on the Region remotely.
Provide vision, leadership, and strategic direction to the risk team in the Region and support senior and junior credit officers to facilitate the development of skills required for career progressions within credit risk and to develop them into future risk management leaders. Mentor Associate Credit Officer Program (ACOP) and Credit Officer Development Program (CODP) staff and junior credit officers.
Represent CIR in relevant quarterly country risk rating meetings, and coordinate with Economic Department ad hoc macro reviews/ country visits for difficult situations and stress tests.
Keep abreast
of regional macroeconomic, debt and equity markets, political, legal, and business trends and their potential impact on IFC's new business investments and ensure dissemination.
Lead reviews and discussions of credit and equity standards, credit policies and guidelines deal acceptance criteria and business process improvement.
Lead complex, priority and/or strategic initiatives for the CIR and the Risk & Finance VPU, including process improvement, development of new or review of existing policies, and risk tools.
Lead knowledge management initiatives to identify and disseminate best practices.
Act as a credit officer for the products/sectors of responsibility (including sectors, transactions and/or products that are more innovative, risky and/or complex or require specialized expertise).
Support the development and delivery credit and equity training programs for IFC staff to disseminate expertise and best practices.
Work closely with the other RCROs to ensure consistency of approach and principles in promulgating risk management practices.
Ensure coordination with relevant credit risk departments of major IFIs in the Region, including attendance and organization of knowledge management events.
Selection Criteria
Advanced degree (at least Masters) in finance, business, law, economics, international affairs, or similar fields.
At least 20-25 years of experience working for a major financial institution focusing on Emerging Markets of which at least 10-15+ years of increasing responsibility in a credit risk related function covering all debt and equity products and multiple sectors.
At least 15+ years of experience developing and operating under debt and equity risk policies, parameters and procedures and debt, and equity investment structuring guidelines. Demonstrated ability to instill risk culture and innovate risk systems, guidelines, and processes.
Experience delivering debt and equity training programs and developing teaching materials would be a plus.Demonstrated exposure to and understanding of the MEA region.Knowledge of French would be a plus.
Skills and Competencies
In-depth experience in and exposure to most sectors and all products.
Thought leader in all aspects of risk management with the proven capability of innovating risk systems and processes and instills a risk culture.
Exceptional understanding of Region, and authoritative knowledge of IFC credit and risk policies and practices and internal credit risk models
.Recognized internally and externally as a leader in and authority on credit and risk-reward structuring across financial instruments, transaction types, and industries in the Region.
Exceptional ability to anticipate issues at the portfolio and transaction level and provide advice on wide-ranging new and highly complex portfolio projects, have broad regional exposure, and/or have other strategic importance.
Sought out by senior management for expertise and advice on credit risk and risk-reward issues based exceptional expertise and judgment.In depth understanding of priorities and activities of Corporate Risk Management (CRM), Special Operations (CSO), IFC Controller (CNT), and Portfolio Management (CPM) to seamlessly carry out coordination role.
Highest standards of integrity.Ability to remain focused on protecting IFC's long-term interests.
Able to stand his/her ground when appropriate, listen effectively to discover when it is not appropriate, and deliver difficult messages with sensitivity at all levels, including counterparts and top management.Proven ability to build effective relationships with other parts of the WBG and the risk management function at other IFIs and financial institutions.
How to Apply
For more information and job application details, see; World Bank Group Regional Chief Risk Officer - Jobs in South Africa
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