Risk Manager

INTRODUCTION

The Caribbean Development Bank (CDB/the Bank) is seeking to recruit an experienced professional to assume the role of Risk Manager (RM). The RM will provide support, and report to the Chief Risk Officer (CRO) on the effective implementation of the Enterprise Risk Management Framework. The successful candidate will be based at CDB’s headquarters in St. Michael, Barbados. 

THE OFFICE OF RISK MANAGEMENT 

The Office of Risk Management (ORM) is a dynamic, strategic and responsive office leading CDB’s second line function, fully supporting the Bank and the Board of Directors in the management of all risks across the organisation. ORM, headed by a CRO, implements, monitors, and maintains an efficient and effective Enterprise Risk Management Framework, supporting CDB’s strategic vision and mandate.

In particular, ORM is responsible for risk oversight and monitoring of sovereign and non-sovereign risk exposures and enabling clear reporting of CDB’s risk profile. It has to ensure balance and attainment of three key goals simultaneously:

• • Enabling better-informed risk-taking by using consistent MDBs risk management best practices across the organisation to achieve the Bank’s strategic objectives in the long-term, protect its AA+ credit rating and deliver on its development commitments;
  • Ensuring that first line risk owners deliver their ‘core’ responsibilities, which include: risk identification; measurement; monitoring; and reporting, while providing support in developing and implementing policies/guidelines, methodologies, limits/controls setting and monitoring tools in an efficient, accurate, timely and cost-effective manner; and
  • Delivering ‘value-adding’ support, including technical and strategic, advisory, report and data analysis and interpretation, which is actively sought and used by the first line operations units and senior management.

THE ROLE

The RM will lead the upgrade and management of the credit and project risk management framework as core financial risk within the enterprise risk framework. They will ensure that first line functions consistently and comprehensively identify, measure, monitor, mitigate, and report on credit and project risks and any related emerging risks. The RM will provide support to the CRO, in sovereign, non-sovereign, credit counterparty, project and portfolio risk process and the update and implementation of CDB’s policies, governance, guidelines, processes, models, tools/systems and culture/awareness on credit and project risk management.

The RM will also be expected to contribute to the effective adoption of the holistic approach to enterprise risk management and effective implementation of the strengthened Enterprise Risk Management Framework.

KEY RESPONSIBILITIES

The job will require the RM to:  

• Provide strategic and technical leadership in Credit and Project Risk Management to safeguard CDB’s AA+ credit ratings.

• Lead and manage the comprehensive end-to-end diverse credit and project processes, including but not limited to, sovereign, non-sovereign, credit counterparty and project risks, attending credit and financial risk committees, and providing decision-making in identifying, assigning risk rating, measuring, pricing and mitigating credit risk as well identifying, assessing and mitigating project risks.

• Ensure compliance with risk appetite and portfolio limits and contribute to the effective management of exposures that adversely impact the Bank’s balance sheet.

• Develop and continually update predictive analytics based on CDB risk patterns and contribute effectively to stress testing and scenario analysis.

• Lead the reforms, development, implementation of credit and project risk strategy, appetite, country/counterparty/portfolio exposure limits, and policies to ensure sound banking management of credit risk in pursuit of the Bank’s strategic objectives.

• Lead the review and improvements of risk models and methodologies, and undertake special projects to enhance its efficiency and effectiveness, safeguard CDB's AA+ rating and be compliant with best practice.

• Provide guidance to project origination and analyst teams on using the most appropriate rating and scoring models and inputs therein and approves the final credit ratings for individual transactions and the project risk scorings.

• Provide guidance to ensure best practice and timely monitoring and reporting of credit quality of the Bank’s portfolio, including early-warning assessments of problem transactions to safeguard assets quality and minimise losses

• Lead the enhancement and preparation of periodic reports for internal and external stakeholders on credit and project risks, key portfolio risk developments, and oversight of the Bank’s capital adequacy framework from credit and enterprise risk perspective.

• Build and coach the credit and proiect risk team, managing junior staff and ensuring the achievement of ORM’s mission, roadmap and workplan objective; coordinating and sharing information with the other units of ORM.

• Contribute effectively to the embedding of risk management principles within the Bank by leading the design and delivery of targeted Bank-wide training and awareness sessions periodically based on the training programme’s timelines.

• Monitor and evaluate the Bank’s performance in the application of risk in its decision-making process and propose continuous improvements.

• Lead by example and become an effective and trusted risk partner for the first and third line functions, ensuring technical competency, professionalism and high ethical standards in ORM and contributing to enhancing the Bank-wide risk culture.

• Liaise with counterparts at other institutions, particularly MDB’s, to exchange ideas on credit and project risk policies and methodologies, and support/provide advice to the CRO in liaising with rating agencies and the wider financial community.

EDUCATION AND EXPERIENCE

The RM must have a comprehensive credit and development-related project risk management background and be able to apply that knowledge in addition to their practical skills in performing complex independent tasks.  It is expected that the RM will be able to contribute constructively to the implementation of new policies, systems and processes.

The successful candidate shall have:

• • A Master’s degree or equivalent in financial or numerical discipline (engineering, finance, economics, accounting), or other related fields.
  • Seven (7) years’ experience working in emerging markets and Multilateral Development Banks and/or Development Financial Institutions and/or financial institutions exposure of which at least three (3) should be in a supervisory role.
  • Candidates with only a Bachelor’s degree shall be required to have nine (9) years’ relevant experience.
  • Experience in all aspects of risk assessment, mitigation, structuring of transactions, including technical, financial, country/market/industry, developmental and political/regulatory risk analysis.
  • Experience in delivering risk measurement and management for diverse stakeholders.
  • A proven ability to lead others in research, data analysis and analytical modelling, in the use of  quantitative and qualitative risk assessment techniques.
  • Project/programme management experience.

The following would be considered an asset:

• Professional certification in Risk Management and/or Internal Audit
• Solid experience of credit and project risks
• Detailed understanding of lending practices, financial products, financial modelling and risk management concepts and methodologies
• Sound experience in sovereign, private sector, credit counterparty, development-related project risk and/or portfolio management
• A general understanding of economic capital and risk-based performance measures
• Knowledge and experience in Digital Systems, Applications and Tools for Risk Management

Function-specific Competencies

The RM should demonstrate strong proficiency in the following competencies:

• Ability to adopt a holistic approach to risk management according to the best practice MDB’s Enterprise Risk Management Framework.

• Ability to understand all of the Bank’s activities and how they must integrate to achieve the organisation’s strategic goals.

• Ability to effectively apply statistical concepts to analysis.

• Ability to demonstrate strong critical thinking skills.

• Ability to organise, interpret and present information in meaningful way to diverse audiences.

• Strong written and verbal communication skills with proven ability in communicating with senior management.

• Ability to conduct other detailed research and analysis that can result in constructive findings that would form the basis for addressing the root cause of problems.

BEHAVIOURAL COMPETENCIES

The RM should demonstrate a strong proficiency in the following core competencies:

Acting as a Champion for Change

Actively identifies problems and opportunities for change and implements solutions where appropriate. Maintains effectiveness when experiencing major changes in work tasks or the work environment; and supports people in their efforts to try new things.

Acting Decisively

Moves quickly to make decisions and commits to a straightforward course of action; comfortable making decisions based on partial information; willing to take risks to maintain momentum; shows a strong bias toward action.

Acting Strategically

Aligns day-to-day activities around broader organisational goals and objectives; prioritises resources based on the strategic objectives of the organisation; recognises and rewards people based on how their actions support the broader needs of the organisation.

Championing Customer Needs

Calls attention to issues that impact customer satisfaction; views situations from customers' perspective; encourages people to think about customers when making decisions and develops and sustains productive customer relationships.

Communicating Effectively 

Consistently communicates with clarity and thoroughness to optimise audience understanding. Communicates information in a clear, concise, and timely manner. Demonstrates effective speaking and presentation skills.

Delivering High Quality Work 

Critically reviews work processes to ensure quality; addresses problems that could impact quality; makes sure project deliverables and services meet all requirements and expectations; does not make the same mistakes twice.

Displaying Technical Expertise

Keeps his/her technical skills current; effectively applies specialised knowledge and skills to perform work tasks; understands and masters the technical skills, knowledge, and tasks associated with his/her job; shares technical expertise with others.

Driving for Results

Bottom-line oriented and pushes self and others to achieve results. Keeps current on project status; makes sure people are aware of project status and what they need to do to keep things moving; redirects project resources and activities to overcome setbacks; elevates project concerns to senior levels of leadership when appropriate.

TERMS OF APPOINTMENT

This role is a full-time position with the successful candidate being contracted on a two-year basis in the first instance, with the possibility of renewal.  The salary is competitive and commensurate with qualifications and experience.  The salary for this Grade 21 role starts at USD107,856 per annum net of taxes.  The benefits package includes a pension plan, life and medical insurances.

Before you proceed to apply, please consider the following requirements: 

• You must be a national of one of CDB’s member countries.
• You will be required to produce evidence of any educational and professional qualifications to support your application if you are selected for an interview.
• All appointments are subject to satisfactory background checks and references.

CDB fully respects the need for confidentiality of information supplied and assures you that we will not discuss your background and interest with anyone including references, without your prior consent.

The deadline for submission of applications is December 31, 2025 at 11:59 pm AST. 

The Caribbean Development Bank is an equal opportunity employer and values diversity. We encourage all qualified candidates to apply regardless of their racial, ethnic, religious, cultural background, gender, sexual orientation, or disabilities. Women are strongly encouraged to apply.

The Bank provides reasonable accommodation to individuals with disabilities who participate in the job application or interview process. Please contact us to request such accommodation.