Work for the IMF. Work for the World.

The Corporate Services and Facilities (CSF) Department of the International Monetary Fund (IMF) is looking to hire a Procurement Officer (Risk Management). This is a fixed term position.

The selected candidate will work within the Third-Party Risk Management (TPRM) Section of the General Services Division which is responsible to identify, assess, report, and manage third party vendor risks.

The Procurement Officer (Risk Management) plays a key role in the Fund wide implementation of the Third-Party Risk Management (TPRM) Program.

The Procurement Officer (Risk Management) would assess, evaluate, and mitigate procurement risks prior during the bid process, vendor onboarding and ensuring that appropriate controls are in place prior to contract signature/ award. Provide expertise in reviewing risks including operational, legal, reputational, financial and technology when dealing with existing and potential vendors

Under the supervision of the Section Chief (TPRM), the Procurement Officer (Risk Management) will establish strong working relationships with subject matter experts (SME)s, the Information Technology Department, the Legal Department, the Office of Risk Management and project managers to establish a strong third-party risk management culture within the Institution.

Main Duties and Responsibilities

• Coordinate management of third-party risk and due diligence by ensuring that appropriate risk assessments are completed
• Help identify, measure and communicate operational and third-party risks for new and existing vendors
• Maintain accurate records of third-party risks and liaise with ORM and other key stakeholders on periodic reporting to ensure awareness of the risks for the Fund stemming from high risk contracts.
• Provides subject matter expertise and support for the upcoming deployment of the integrated procurement and risk tool
• Act as a focal point for Funds insurance program in close coordination with the insurance broker. Ensure timely completion of claims processes, reporting and insurance program renewal
• Evaluate vendors to determine risk tier
• Perform financial risk assessment for vendors and analyze financial statements
• Ensure that adequate, appropriate and current third-party risk documentation is maintained
• Develop corrective action plans and effectively manage change when required
• Provide risk oversight and document vendor risk analyses
• Assist procurement, project managers and business sponsors with RFP development and due diligence documentation
• Provide guidance and training to stakeholders on TPRM program requirements and continuous improvement for procurement processes, risk assessments and other operational activities
• Work with other functions to understand, support and/or advise in development and implementation of     controls that mitigate risks
• Provide support creating policies, procedures and governance documents for TPRM processes
• Perform other duties as assigned

Minimum Qualifications

Educational development, typically acquired through the completion of an advanced university

degree in risk management, legal, business administration, compliance, audit, finance, economics, legal, procurement/contract management, or a related field of study; or a university degree, or equivalent, supplemented by a minimum of six years of relevant professional experience.

In addition, the successful candidate must have:

• Prior experience in conducting/setting up of third-party risk management processes
• Broader knowledge of risk management areas such as Operational Risk and Enterprise Risk, ideally evidenced through a professional certification
• Familiarity with procurement process, contract negotiation, invoice processing or legal terms review preferred
• Strong understanding of financial risks related to vendors
• Facilitation and conflict management skills that enable effective working relationships and efficient interactions by work groups or teams
• Ability to communicate succinctly and develop communication strategies across multiple stakeholder groups
• Self-motivated, ability to work independently, strong organizational skills
• Relevant risk management certification is a plus
• Proficient in Word, Excel, Outlook, PowerPoint

This vacancy shall be filled by a 3-year Term appointment in accordance with the Fund’s new employment rules that took effect on May 1, 2015. 

A regular staff member who is selected to fill the vacancy will maintain their open-ended status. If the selected candidate is a contractual employee, they will be offered a Term staff appointment. Staff members already on a term appointment will continue their current term but may receive an extension provided that their current term appointment has not already been extended. 

Department:

Hiring For:

The IMF is committed to achieving a diverse staff, including age, creed, culture, disability, educational background, ethnicity, gender, gender expression, nationality, race, religion and beliefs, and sexual orientation.