Risk Analyst, Washington, United States
Organization: The World Bank
Country: United States
Office: World Bank in Washington, United States
Closing date: Wednesday, 21 December 2022
Job #: req20103
Organization: World Bank
Term Duration: 3 years 0 months
Recruitment Type: Local Recruitment
Location: Washington, DC,United States
Required Language(s): English
Preferred Language(s): Closing Date: 12/21/2022 (MM/DD/YYYY) at 11:59pm UTC
Do you want to build a career that is truly worthwhile? Working at the World Bank Group provides a unique opportunity for you to help our clients solve their greatest development challenges. The World Bank Group is one of the largest sources of funding and knowledge for developing countries; a unique global partnership of five institutions dedicated to ending extreme poverty, increasing shared prosperity and promoting sustainable development. With 189 member countries and more than 120 offices worldwide, we work with public and private sector partners, investing in groundbreaking projects and using data, research, and technology to develop solutions to the most urgent global challenges. For more information, visit www.worldbank.org
Background / General Description: The Chief Risk Officer (CRO) Vice Presidency of the World Bank Group is the core unit responsible for institutional risk oversight, including: (i) developing and updating Enterprise Risk Management (ERM) approach and Framework, strengthening risk governance, (ii) helping articulate risk appetite, (iii) evaluating, monitoring and reporting financial and operational risks, (iv) disseminating risk knowledge and creating risk awareness, and (v) reporting to the Board and executive management. CRO assists management with identifying and managing Group-wide cross-cutting risks, enhancing risk response decisions, reducing financial and operational surprises and losses, seizing opportunities and improving deployment of capital.
The CRO VPU has three departments : (i) Credit Risk Department (CROCR) responsible for ensuring that the Bank’s credit risk exposure is commensurate with the risk appetite of stakeholders and strikes the appropriate balance between financial and development objectives; (ii) Market and Counterparty Risk Department (CROMC) responsible for overseeing market, commercial counterparty credit, and model risks; and (iii) Operational Risk Department (CROOR or the department) responsible for assisting business units in identifying, assessing, and managing operational risks.
The Risk Analyst will be working in the Operational Risk Department (CROOR). The department is responsible for assisting business units in identifying, assessing, and managing enterprise and operational risks (which is defined as risks resulting from inadequate or failed internal processes, people and systems, or from external events). Other focal areas within the department consist of enterprise risk, corporate insurance, business continuity management and resiliency.
The department is looking for an energetic and proactive Risk Analyst to provide research and support to the team in enterprise risk and corporate risk governance and other risk related matters as needed. The position will report to the Manager of the department under the supervision of the senior risk officer.
Note: If the selected candidate is a current Bank Group staff member with a Regular or Open-Ended appointment, s/he will retain his/her Regular or Open-Ended appointment. All others will be offered a 3 year term appointment. Duties and Accountabilities:
The Risk Analyst’s duties and specific accountabilities will include, but are not limited to the following: 1. Enterprise Risk Management (ERM): Work as an integral part of the team in developing and implementing WB’s ERM by providing substantive research, analytical, and statistical assistance in support of ERM activities.
Provide analytical support to the ERM team in the areas of enterprise-wide risk identification, measurement and response
Monitor changes in the risk and regulatory landscape, including the review and in-depth analysis of risk related reports, the monitoring and assessment of the external risk landscape and the understanding of best practices and regulatory requirements in the ERM space.
Coordinate with key business units for assessing, monitoring and reporting key risks
Research and analyze a wide variety of risk topics and issues as needed
Prepare risk reports through compiling, monitoring and analyzing data and key trends, and writing routine reports independently
Coordinate with the units in Finance Partners for updating, monitoring the financial risk appetite and tolerances
Support in the development of risk management related documents, including policies, frameworks.
Prepare materials for management briefings, professional collaborations, advisory engagements and learning events
Document work related to risk management processes in the Bank’s GRC tool (B-wise)
Collaborate with internal team and staff from other risk units and others across the Bank Group
Maintain close contacts and liaise with internal and external counterparts
Keep abreast of best practices pertaining to risk management
Support project management activities
2. Risk Governance: Support the department as it relates to implementing the risk governance framework, including Finance & Risk Committee (FRC), Enterprise Risk Committee (ERC) and New Business Committee (NBC).
Act as first line of contact in the department in responding to internal and external requests and queries
Assist in preparing agenda and materials for the various risk committee meetings
Provide support in preparation of meeting minutes and other follow up documents
Manage the archival system for the various committee meeting materials
Provide logistical support in organizing committee meetings
3. Data Analysis, Visualization and Reporting Risks: Collaborate closely with subject matter experts to work on creating concepts, sketches, iterations and final versions of info-graphics, charts, tables, and other data visualizations as needed.
Analyze large data sets to better understand trends, relationships between variables, and to formulate predictive insights
Design, develop, and deliver risk reports and dashboards
4. Risk Awareness: Provide the necessary support to the department in its risk awareness activities.
Assist in preparation and logistical planning for various events, e.g., conferences, workshops, etc.
Update and maintain the website for the Enterprise Risk Management and Corporate Risk Governance functions and contribute with the department’s and VPU sites.
Contribute to other elements of the broader operational risk work program and undertake ad-hoc duties as required.
A degree in finance, economics, statistics or a related field with at least 2 years‘ of relevant experience. Bachelor’s degree required, Master’s degree preferred.
Understanding of general risk principles and financial concepts
Strong analytical and conceptual skills
Excellent communications skills, both in oral presentations and in writing segments of reports
Demonstrated database skills and experience in analyzing, interpreting, and visualizing data
Strong proficiency with Microsoft Office applications
Ability to work effectively in a team-oriented, multi-cultural environment
Ability to work flexibly and under deadline pressure at times on a range of assignments
Ability to work independently, and to adjust to and prioritize a variety of complex evolving tasks
Strong interpersonal skills and ability to develop effective relations within and outside the Bank Group
Absolute discretion, respect for privacy, and ability to handle sensitive issues, correspondence, and information discreetly
Innovate - Develops innovative solutions
Deliver Results for Clients - Proactively addresses clients‘ stated and unstated needs
Collaborate Within Teams and Across Boundaries - Collaborates across boundaries, gives own perspective and willingly receives diverse perspectives
Create, Apply and Share Knowledge - Applies knowledge across WBG to strengthen solutions for internal and/or external clients
Make Smart Decisions - Interprets a wide range of information and pushes to move forward
World Bank Group Core Competencies
The World Bank Group offers comprehensive benefits, including a retirement plan; medical, life and disability insurance; and paid leave, including parental leave, as well as reasonable accommodations for individuals with disabilities.
We are proud to be an equal opportunity and inclusive employer with a dedicated and committed workforce, and do not discriminate based on gender, gender identity, religion, race, ethnicity, sexual orientation, or disability.
Learn more about working at the World Bank and IFC, including our values and inspiring stories.
Link to the organization’s job posting: https://unjobs.org/vacancies/1669142816723