Head of Market and External Managers Risk

Overview

Contribute to asset-liability management and tactical risk allocation.

You have:

• Advanced University Degree in Finance, Mathematics, Systems Engineering, Applied Mathematics, Sciences or related field.
• At least seven (7) years of professional and relevant experience working in an investment institution, in an investment or risk related function, is required.
• Experience in investment performance analytics and market risk management, including scenario analysis, is desirable.
• Experience in multi-period factor-based optimal risk allocation in a pension fund or long-term institutional investor context is desirable.
• Two years or more of experience in data analytics or related area is desirable.
• English is required, with proficiency at UN Level II in Reading, Writing, Listening, and Speaking.

Contract

This is a P-4 contract. This kind of contract is known as Professional and Director staff. It is normally internationally recruited only. It's a staff contract. It usually requires 7 years of experience, depending on education.

Salary

The salary for this job should be between 159,743 USD and 205,956 USD.

Please keep in mind that the salary displayed here is an estimation by UN Talent based on the location and the type of contract. It may vary depending on the organization. The recruiter should be able to inform you about the exact salary range. In case the job description contains another salary information, please refer to this one.

Org. Setting and Reporting

The United Nations Secretary-General is responsible for the investment of the assets of the United Nations Joint Staff Pension Fund (UNJSPF). The Secretary-General has delegated this responsibility to the Representative of the Secretary-General for the investment of the assets of the UNJSPF (RSG). The RSG is, in turn, assisted in this function by the Office of Investment Management (OIM). OIM manages approximately $90+ billion multi-asset class, global investment portfolio, about 85% of which is actively managed in-house. Asset classes under management comprise global equities, fixed income, foreign exchange, private equity, real estate, infrastructure, timber and commodities. OIM’s staff are all based in New York but come from over 40 countries. For more information, please visit OIM's website at https://oim.unjspf.org/. This position is located in the Financial and Performance Risk Team within the Risk and Compliance Section of OIM. The incumbent reports to the Chief of Financial and Performance Risk.

Responsibilities

Under the overall supervision of the Chief, the incumbent will perform the following duties: 1) Contributing to Asset-Liability management within a pension fund context and strategic asset allocation exercises. 2) Providing independent oversight on tactical asset allocation and risk distribution across internal investment teams and external asset managers through a robust risk budgeting framework, without direct involvement in front office decision-making. 3) Analysis of risk for public market asset classes (fixed income, equities, currencies) 4) Create, prepare on a regular basis and analyze risk reports. 5) Monitor and identify risk, interpret reports and formulate risk reduction in accordance with OIM goals. 6) Perform risk-related due diligence and monitoring of external asset managers in public asset classes. 7) Model and integrate risk statistics by conducting research on macroeconomic factors and risk metrics reports to provide quantitative inputs on various investment proposals and existing portfolios of investments. 8) Conduct quantitative analysis of the Fund's assets for the effectiveness and use of indexed tools and derivatives instruments for hedging equity, currency, duration, interest rate, and other risks. 9) Functional owner of the risk data management database and conduct independent risk calculations. 10) Develop and deliver an assessment of portfolio risks of both internally and externally managed investments. 11) Monitor market and external manager risks. 12) Represent the Fund at inter-agency meetings, seminars, etc., on substantive­ relative issues as instructed by Senior risk officer or the Chief, Risk and Compliance. Participate in international, regional or national meetings and provide programmatic/substantive expertise on Portfolio Risk Analysis and Attribution, or holds programmatic/substantive and organizational discussions with representatives of other institutions. 13) Collects and analyzes data to identify trends or patterns and provide insights through graphs, charts, tables and reports using data visualization methods to enable data-driven planning, decision-making, presentation and reporting. 14) Carries out other tasks as may be assigned by Senior risk officer or Chief Risk and Compliance Officer.

Competencies

• Professionalism: Knowledge and experience of investment/market risk measurement, risk budgeting and asset-liability management. Knowledge and understanding of theories, concepts and approaches relevant to this field. Ability to identify issues, analyze and participate in the resolution of issues/problems. Ability to conduct data collection using various methods. Conceptual analytical and evaluative skills to conduct independent research and analysis, including familiarity with and experience in the use of various research sources, including electronic sources on the internet, intranet and other databases. Ability to apply judgment in the context of assignments given, plan own work and manage conflicting priorities. The ability to analyze and interpret data in support of decision-making and convey resulting information to management. Shows pride in work and in achievements; demonstrates professional competence and mastery of subject matter; is conscientious and efficient in meeting commitments, observing deadlines and achieving results; is motivated by professional rather than personal concerns; shows persistence when faced with difficult problems or challenges; remains calm in stressful situations. Takes responsibility for incorporating gender perspectives and ensuring the equal participation of women and men in all areas of work. • Accountability: Takes ownership of all responsibilities and honors commitments; Delivers outputs for which one has responsibility within prescribed time, cost and quality standards; Operates in compliance with organizational regulations and rules; Supports subordinates, provides oversight and takes responsibility for delegated assignments; Takes personal responsibility for his/her own shortcomings and those of the work unit, where applicable. • Teamwork: Works collaboratively with colleagues to achieve organizational goals; solicits input by genuinely valuing others’ ideas and expertise; is willing to learn from others; places team agenda before personal agenda; supports and acts in accordance with final group decision, even when such decisions may not entirely reflect own position; shares credit for team accomplishments and accepts joint responsibility for team shortcomings.

Education

Advanced University Degree in Finance, Mathematics, Systems Engineering, Applied Mathematics, Sciences or related field. A first level university degree in combination with academic qualifications and experience in investment/risk management may be accepted in lieu of the advanced degree. Additional relevant professional qualifications (e.g CFA, CAIA, CQF, CIPM, FRM, PRM) is desirable.

Job - Specific Qualification

Not available.

Work Experience

At least seven (7) years of professional and relevant experience working in an investment institution, in an investment or risk related function, is required. Experience in investment performance analytics and market risk management, including scenario analysis, is desirable. Experience in multi-period factor-based optimal risk allocation in a pension fund or long-term institutional investor context is desirable. Experience in open-group pension fund asset liability studies in public pension funds in the context of factor allocation or strategic asset allocation is desirable. Two years or more of experience in data analytics or related area is desirable.

Languages

English and French are the working languages of the United Nations Secretariat. For this job opening, English is required. The table below shows the minimum required level for each skill in these languages, according to the UN Language Framework (please consult https://languages.un.org for details).

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LanguageReadingWritingListeningSpeakingEnglishUN Level IIUN Level IIUN Level IIUN Level II

Assessment

Evaluation of qualified candidates may include an assessment exercise which may be followed by competency-based interview.

Special Notice

• The United Nations Secretariat is committed to achieving 50/50 gender balance in its staff. Female candidates are strongly encouraged to apply for this position. • Appointment at the United Nations is subject to mandatory adherence to the United Nations Financial disclosure Programme. An appointment to the Office of Investment Management (OIM) of the UNJSPF additionally requires compliance with the rules and regulations pertaining to OIM's Code of Ethics, Personal Securities, Gift and Hospitality policies. • For this position, applicants from the following Member States, which are unrepresented or underrepresented in the UN Secretariat as of 31 July 2025, are strongly encouraged to apply: Brunei Darussalam, Democratic People's Republic of Korea, Dominica, Equatorial Guinea, Grenada, Kiribati, Lao People's Democratic Republic, Liechtenstein, Marshall Islands, Micronesia (Federated States of), Nauru, Palau, Papua New Guinea, Qatar, Sao Tome and Principe, Timor-Leste, Tuvalu, United Arab Emirates, Vanuatu, Andorra, Angola, Belize, China, Cuba, Germany, Guinea-Bissau, Indonesia, Israel, Japan, Kuwait, Libya, Malta, Monaco, Oman, Panama, Paraguay, Saint Vincent and the Grenadines, Saudi Arabia, Singapore, Slovenia, Solomon Islands, Turkmenistan, United States of America.

United Nations Considerations

According to article 101, paragraph 3, of the Charter of the United Nations, the paramount consideration in the employment of the staff is the necessity of securing the highest standards of efficiency, competence, and integrity. Candidates will not be considered for employment with the United Nations if they have committed violations of international human rights law, violations of international humanitarian law, sexual exploitation, sexual abuse, or sexual harassment, or if there are reasonable grounds to believe that they have been involved in the commission of any of these acts. The term “sexual exploitation” means any actual or attempted abuse of a position of vulnerability, differential power, or trust, for sexual purposes, including, but not limited to, profiting monetarily, socially or politically from the sexual exploitation of another. The term “sexual abuse” means the actual or threatened physical intrusion of a sexual nature, whether by force or under unequal or coercive conditions. The term “sexual harassment” means any unwelcome conduct of a sexual nature that might reasonably be expected or be perceived to cause offence or humiliation, when such conduct interferes with work, is made a condition of employment or creates an intimidating, hostile or offensive work environment, and when the gravity of the conduct warrants the termination of the perpetrator’s working relationship. Candidates who have committed crimes other than minor traffic offences may not be considered for employment. Due regard will be paid to the importance of recruiting the staff on as wide a geographical basis as possible. The United Nations places no restrictions on the eligibility of men and women to participate in any capacity and under conditions of equality in its principal and subsidiary organs. The United Nations Secretariat is a non-smoking environment. Reasonable accommodation may be provided to applicants with disabilities upon request, to support their participation in the recruitment process. By accepting a letter of appointment, staff members are subject to the authority of the Secretary-General, who may assign them to any of the activities or offices of the United Nations in accordance with staff regulation 1.2 (c). Further, staff members in the Professional and higher category up to and including the D-2 level and the Field Service category are normally required to move periodically to discharge functions in different duty stations under conditions established in ST/AI/2023/3 on Mobility, as may be amended or revised. This condition of service applies to all position specific job openings and does not apply to temporary positions. Applicants are urged to carefully follow all instructions available in the online recruitment platform, inspira, and to refer to the Applicant Guide by clicking on “Manuals” in the “Help” tile of the inspira account-holder homepage. The evaluation of applicants will be conducted on the basis of the information submitted in the application according to the evaluation criteria of the job opening and the applicable internal legislations of the United Nations including the Charter of the United Nations, resolutions of the General Assembly, the Staff Regulations and Rules, administrative issuances and guidelines. Applicants must provide complete and accurate information pertaining to their personal profile and qualifications according to the instructions provided in inspira to be considered for the current job opening. No amendment, addition, deletion, revision or modification shall be made to applications that have been submitted. Candidates under serious consideration for selection will be subject to reference checks to verify the information provided in the application. Job openings advertised on the Careers Portal will be removed at 11:59 p.m. (New York time) on the deadline date.

No Fee

THE UNITED NATIONS DOES NOT CHARGE A FEE AT ANY STAGE OF THE RECRUITMENT PROCESS (APPLICATION, INTERVIEW MEETING, PROCESSING, OR TRAINING). THE UNITED NATIONS DOES NOT CONCERN ITSELF WITH INFORMATION ON APPLICANTS’ BANK ACCOUNTS.

Potential interview questions