Risk Specialist (Financial Risk) - Office of Risk Management

Work for the IMF. Work for the World.

The International Monetary Fund (IMF) is an organization of 190 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.

The Office of Risk Management (ORM) is responsible for creating an enterprise risk management (ERM) approach at the Fund. Strong domain knowledge and experience in ERM is sought to ensure the current team is augmented with seasoned risk management professionals in a variety of institutional settings, including commercial banks and complex enterprises. Risk management experience is occupational experience that leverages the opportunities and uncertainties associated with an organization’s goals and objectives. This includes implementing, developing and leading the risk management practices that enable an organization to make risk-effective decisions that create and sustain value.

The financial risk specialist will be responsible for the leadership, innovation, governance, and management necessary to identify, evaluate, mitigate, and monitor the organization's market, credit and liquidity risks. The selected candidate will liaise with other departments in the Fund, including Finance, Investment Office, Strategy Policy and Review, Surveillance and departmental risk teams.

Major Duties and Responsibilities

• Develops financial risk management tools and practices to analyze and report on market, credit and liquidity risks and to manage risks according to a financial risk management framework and relevant policies.
• Ensures the organization's financial risk management policies, limits, and strategies are in compliance with applicable standards, best practice and strategic imperatives of the organization.
• Supports monitoring all financial risk management activities of the organization.
• Monitors and analyzes market, credit and liquidity risks within the organization's business units and on a corporate basis.
• Leads projects and initiatives to further strengthen the Fund’s framework of policies, guidelines, processes, and systems for managing financial risks.
• Leads and ensures consistency and streamlining in the financial risk management reporting at the Fund Risk Committee, in support of strategic decision making.
• Ensures ORM’s contribution to the Fund’s IFRS9 programs, coordinating risk policy formulation for appropriate credit risk metrics, monitoring and reporting.
• Leads project to consolidate a view of enterprise market risks across investment portfolios and other relevant sources.
• Participates in the development of ERM capabilities to assess the adequacy of Fund resources for lending.
• Authors required financial risk procedure documents.

Minimum Qualifications

Master’s degree, or equivalent, in business, accounting, economics, finance, information technology, law, communications, organizational development or a related field plus four years of relevant professional experience. Alternatively, a bachelor’s degree or equivalent, supplemented by a minimum of 10 years of relevant risk management professional experience.

In addition, the ideal candidate will possess the following:

• Previous experience working with financial risk assessments including sovereign credit risk, VaR, risk metrics (KRIs) and scenario analysis and issue and action management.
• Innovation and professional risk taking. Identify and pursue a vision for innovation opportunities that cross organizational borders or enlist external partners. Sponsor projects that drive innovation and new thinking inside the Fund.
• Proven ability to influence and collaborate with others, initiate action plans, manage change, make impactful decisions and complete challenging assignments.
• Strong background in applied mathematics, statistics and/or financial economics and external risk data.
• Ability to quickly understand systems, situations, pressures and culture within the Fund to facilitate risk identification and assessment of potential failures and how best to achieve business objectives.
• Strong verbal and written communication skills to articulate complex technical ideas to non-technical stakeholders and colleagues.
• Ability to navigate complexity and ambiguity. Demonstrate a high degree of agility, flexibility, and adaptability, and can simplify by translating technical information in a form appropriate for non-technical audiences.

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.

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A11, A12The 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.