Risk Management Specialist

Risk Management Specialist

Job Vacancy | Monday, September 11, 2023

Reference Number 230584
Position Level IS 3/4
Department Office of Risk Management
Division Risk Policy and Architecture Division
Location Asian Development Bank Headquarters
Date Posted Monday, September 11, 2023
Closing Date Monday, September 25, 2023 11:59 p.m. (2359 Manila Time, 0800 GMT)

Overview

Asian Development Bank (ADB) is an international development finance institution headquartered in Manila, Philippines and is composed of 68 members, 49 of which are from the Asia and Pacific region. ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. ADB combines finance, knowledge, and partnerships to fulfill its expanded vision under its Strategy 2030.

ADB only hires nationals of its 68 members.

The position is assigned in the Risk Policy and Architecture Division (RMPA) within the Office of Risk Management (ORM). ORM has a broad mandate and ensures that ADB’s Treasury, Sovereign, and Nonsovereign operations are sustainable by safeguarding ADB’s rating, advising Board and Management on risk issues, and implementing and promoting a strong internal risk culture.

RMPA establishes and maintains policies, procedures, and tools for risk management that are consistent with those of other multilateral development banks (MDBs) and prudent banking principles. The principal responsibilities of RMPA include: (i) establishment and maintenance of best practice policies, methods and procedures for credit, market, and operational risk; (ii) development and maintenance of tools and systems to support enterprise-wide risk management; (iii) maintenance of a ratings desk; (iv) analysis, rating, and monitoring of the creditworthiness of ADB’s sovereign borrowers; (v) data management and (vi) limit monitoring and risk reporting.

To view ADB Organizational Chart, please click here.

Job Purpose

The Risk Management Specialist will support the development and implementation of an integrated climate risk management framework including policies, processes, and tools to assess and report the impact of climate risk on ADB’s balance sheet and operations (sovereign, nonsovereign and treasury). The Specialist will support (i) preparation of climate-related disclosures and reporting and implementing the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), (ii) developing and implementing a comprehensive climate risk management methodology, (iii) assessment of portfolio and financial risk and (iv) general formulation of ADB policies, guidelines and practices on risk and portfolio management.

The incumbent will report to Director, RMPA and may supervise National Staff and Administrative Staff.

Responsibilities

a. Climate Risk

• Supports development and implementation of an integrated climate risk management framework with focus on credit and market risk. Develops and implements necessary processes and tools.
• Performs data management and manages and implements processes and systems required for monitoring and evaluation of financial risk exposure to climate change.
• Models climate scenarios analysis and stress tests.
• Assesses and reports the impact of climate change on ADB’s balance sheet and operations (sovereign, nonsovereign and treasury portfolios).
• Contributes to external reporting on climate change risks to ADB’s financial standing.
• Supports drafting of climate-related disclosure reports.
• Supports activities related to ADB’s interdepartmental working groups involved in climate change and climate risk.
• Supports application and implementation of sustainability and ESG frameworks for sovereign and nonsovereign operations.
• Engages with ADB Management on a regular basis.

b. Financial Risk

• Enhances methodologies, tools, and processes for financial risk assessment.
• Liaises with research and operations departments to synthesize information required for assessments of financed entities.

c. Climate Risk Policy & Architecture

• Supports development, implementation and monitoring of policies, processes, methods and tools for identification, measurement, and management of risk.
• Reviews from a risk perspective policies and proposals prepared by other departments.

d. Knowledge Sharing

• Maintains knowledge of emerging best practices and standards in risk management.
• Provides support in organizing and conducting training to promote an appropriate risk culture in ADB.

e. Staff Supervision

• Supervises the performance of reporting staff, providing clear direction and regular monitoring and feedback on performance.
• Ensures the on-going learning and development of reporting staff.

Qualifications

Relevant Experience & Requirements

A University degree in finance, economics or related field; preferably at post-graduate level or its equivalent.
At least 6 years of relevant international experience in a similar setting e.g., international bank, banking regulator, international financial institution, investment management firm, or other similar institution.
International experience working in several countries.
In depth understanding and practical experience of quantitative and qualitative methods for analysis of climate change risk and financial risk
In depth understanding and practical experience with climate-related disclosure standards and reporting frameworks.
Excellent verbal and written communication skills in English.
*Please refer to the link for ADB Competency Framework for International Staff Levels 3 – 4.