Risk Management Specialist
Job Vacancy | Tuesday, July 11, 2023
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 implementing 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 will (i) assess country and sovereign risk from a lender’s perspective; (ii) work with departments across organization lines to synthesize relevant information leading to the rating of sovereign creditworthiness; (iii) assess the strength of financial systems and systemic risk from a sovereign perspective; (iv) support the risk assessment of public and private nonsovereign borrowers by providing assessments of industry, sector and regulatory risk; (v) enhance the methodology and process for country and sovereign risk assessment; and (vi) work within general policies, principles and goals, working directly with clients.
The incumbent will report to Director, RMPA. The incumbent may supervise national, and administrative staff.
Responsibilities
a. Sovereign and Country Risk Assessment
• Undertakes ADB´s sovereign risk assessments and related due diligence.
• Monitors the credit quality of ADB´s sovereign borrowers and sovereign portfolio.
• Analyzes relevant macroeconomic and industry trends.
• Enhances methods, tools, and procedures for sovereign risk analysis and monitoring.
• Supports the assessment of nonsovereign borrowers and portfolio credit quality by providing assessments of industry, sector, and regulatory risk.
• Enhances the procedures for industry, sector, and regulatory risk analysis.
• Enhances the procedures for financial sector stability assessments.
• Undertakes periodic and ad hoc preparation of risk outlooks relevant for ADB’s management and for external consumption.
• Liaises with ADB’s research and operations departments to leverage internal information relevant for assessments of country, sector, and industry risk.
• Reviews policy and transaction proposals prepared by other departments with regard to country, sector, and industry risk.
• Other duties include:
o Conducts briefings to senior Management and Board;
o Leads or supports special projects to meet risk management requirements; and,
o Provides guidance on country and sovereign risk management matters.
• Uses various analytic, quantitative, and qualitative methods in working on the above.
b. Policy and Systems
• Participates in the development, implementation and maintenance of best practice policies, methodologies, and systems for identification, measurement, mitigation, and management of the risk in ADB's lending and treasury operations.
• Supports the production of the quarterly Risk Management Report.
• Supports the development, implementation and maintenance of methods and tools for a structured credit risk analysis process, and capital requirement.
• Supports the interaction with international rating agencies.
• Interprets policies and provides guidance to staff on risk management matters.
c. Nonsovereign Risk Assessment
• Supports the assessment of the nonsovereign portfolio and borrower credit quality by providing assessments of industry, sector, and regulatory risk.
• Undertakes the assignment of Banking Industry Country Ratings, cooperating with relevant parts of ADB.
d. Knowledge Sharing
• Remains abreast of new developments relating to risk within the financial industry, including regulatory environment, rating agencies, and theoretical disciplines.
• Supports the maintenance of relationships with other multilateral development banks in order to share information on policies, and methodologies used for country and sovereign risk assessment.
• Maintains knowledge of emerging best practices and standards in risk management.
• Supports in organizing and conducting training to promote a risk culture in ADB.
e. Staff Supervision
• 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
• A University degree in Finance, Economics or related field, preferably at post-graduate level or its equivalent.
• At least 6 years of relevant experience working with country and sovereign risk analysis and/or relevant related areas, including international work experience working in several countries,, in a similar setting e.g., international financial institution, credit ratings agency, international bank, export credit agency, credit insurance provider or other similar institution.
• Deep analytical capacity, including experience with analytical tools.
• Excellent verbal and written communication skills in English.
• Solid understanding and experience in both quantitative and qualitative methods for sovereign and country risk analysis, and financial sector stability analysis.
• Ability to work in a multicultural and highly flexible team environment that relies heavily on cross-functional interaction.
• Strong project management and execution skills, including the ability to effectively drive complex, multifaceted matters to conclusion in an aggressive timeframe.
• Please refer to the link for ADB Competency Framework for International Staff Level 3.
General Considerations
The selected candidate, if new to ADB, 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.
