Senior Risk MGT Specialist (Portfolio), Jeddah, Saudi Arabia

OVERVIEW

JOB PURPOSE

In collaboration with the Manager and Lead, the role is responsible for formulating and quantifying the Bank risk appetite metrics, measuring the Bank risk profile, and recommending any necessary corrective actions. The role contributes to the development of enterprise-wide quantitative risk measurement models, methodologies, and techniques such as FAS 30/IFRS 9 risk modelling, economic capital, risk rating models. The role must provide an independent high-level risk oversight and reporting of the Bank’s financial and non-financial risk profile. The role provides technical guidance to the Portfolio Risk and Reporting team for the undertaking of credit risk management activities at the Bank focusing on developing and implementing appropriate portfolio risk management framework and guidelines, credit risk modelling and risk analytics covering all aspects of Bank-wide risk management. The role also provides technical guidance to the junior team members.

KEY ACCOUNTABILITIES

Portfolio Risk Management and Reporting:

• Prepare the Bank-wide Risk Report covering risk governance, assessment of credit, market and operational risks, and other relevant reports especially analysis, recommendations, and write-up.
• Contribute to the formulation of Bank-wide risk appetite framework (RAF) and ensuring RAF is cascaded down to Bank’s day-to-day business via Target Market and Risk Acceptance Criteria (TM/RAC).
• Review, update and maintain the Bank-wide Exposure Management Framework covering financing operations, treasury and investment activities.
• Develop, review, and maintain an Economic Capital Adequacy Framework and Model and its related guidelines.
• Review, update, and maintain risk models and parameters such as Probability of Default (PD), Loss-Given-Default (LGD), Exposure-at-Default (EAD), correlations, etc.
• Undertake the development, review, and maintenance of IFRS 9 Expected Credit Loss (ECL) methodologies and models and determine the level of impairment and provisions based on IFRS9 for the Bank-wide portfolio.
• Develop and maintain Bank-wide risk adjusted return on capital (RAROC) framework and analytics.
• Develop and implement a stress-testing framework for the Bank’s economic capital adequacy model that enables proactive assessment of the potential impacts of changing market and financial conditions on financial sustainability in the short, medium and longer term and its impact on the credit rating of the Bank.
• Prepare portfolio data for internal and external processing, e.g. submission to credit data pooling consortium of MDBs and International FIs on a periodic basis.
• Monitor the risk profile of sovereign and non-sovereign operations financing portfolio, including asset credit quality and concentration levels, to ensure that risk profile is within the established limits.
• Review and provide feedback on new policies and guidelines drafted by the Finance Complex and Operations-related complexes, particularly relating to credit risk.
• Contribute to the implementation of Enterprise Risk Management (ERM) system, tools and framework.
• Collaborate with the IMDT for the development of information systems that produce reports required for its independent risk reporting to President and BED Committees.
• Assist in the coordination efforts with concerned Departments on all matters relating to ratings of IsDB or instruments for IsDB and along with other Divisions of Risk Management Department including sukuk issuances and providing risk management input for annual reports.
• Support and contribute to the process of Bank’s external rating assessments including preparation and collation of the rating file for each external rating agency.
• Provide support to the Management and relevant units on high level portfolio risks and reporting.

KEY ACCOUNTABILITIES

Operational Excellence:

• Provide technical guidance and review the work delivered by lesser experienced team members.
• Monitor the effective implementation and adherence to respective risk management policies, procedures and controls so that all relevant procedural / legislative requirements are fulfilled.
• Keep abreast of the latest developments, regulations and leading practices in the field and propose any necessary actions.
• Propose and implement process improvements to increase efficiency, effectiveness and compliance of the related operations.
• Contribute to the preparation of work plans and financial budget for the portfolio risk and reporting function and monitor actual expenditure against the approved budget.

ACADEMIC AND PROFESSIONAL QUALIFICATIONS

• Master’s degree in Economics / Finance / Risk Management / Mathematics / Business Administration or related discipline.
• Professional certifications like CFA/PRM/FRM/CQF or equivalent is preferred.
• Minimum 8 years of relevant experience in the risk management function, ideally 3 years in Multilateral Development Banks.
• Languages: English: Mandatory | Arabic: Preferred | French: Preferred

SKILLS & NECESSARY KNOWLEDGE

• Advanced knowledge of Statistical Analysis, Programming Language such as Python / R / SQL, Financial Modeling and Reporting
• Practical experience in implementing frameworks for economic capital and loan loss provisioning
• Good knowledge of Multi-Lateral Development Banks (MDBs) in Credit Risk
• Hands on experiences in developing risk policies and guidelines
• Country risk assessment methodology
• Corporate and Project finance, and Financial Institutions Risk Assessment
• MDBs Ratings Methodologies of the Rating Agencies
• IFRS 9 and Credit Risk Modelling
• Islamic Finance
• Stress Testing
• Governance, Risk and control
• Analytical Thinking
• Problem Solving
• Stakeholders and People Management

ABOUT APPLICATION PROCESS

If you meet the criteria and you are enthusiastic about the role, we would welcome your application. To complete the application you would need the following document(s):

• Resume/CV
• Copy of passport
• Academic certificate

If you are currently an IsDB Regular staff applying for this role and get selected through the competitive selection process; your current contract type and other terms and conditions will remain unchanged.

The Islamic Development Bank (IsDB) does not ask for payments of any kind from applicants throughout the recruitment process (job application, CV review, interview meeting, and final processing of applications). In addition, the Islamic Development Bank does not request information on applicants’ bank accounts. The Islamic Development Bank declines all responsibility for the fraudulent publications of job posts or job offers in its name or, in general, for the fraudulent use of its name in any way whatsoever.