INTRODUCTION
The Caribbean Development Bank (CDB/the Bank) is seeking to recruit a professional to assume the role of Private Sector Risk Officer in the Office of Risk Management. 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 Chief Risk Officer (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
Reporting to the CRO, the Private Sector Risk Officer (PSRO) will support the first-line function in the development of the private sector financing framework from the second-line risk perspective as financial risk being key risk domain within the Bank’s enterprise risk framework. They will ensure that first-line functions consistently and comprehensively identify, measure, mitigate, monitor and report on private sector credit risks and any related emerging risks. The PSRO will provide support to the CRO, private credit assessment and transaction structuring advice, as well as portfolio review. Furthermore, they will ensure the implementation of CDB’s policies, governance, guidelines, processes, methodologies, models, tools/systems and culture/awareness on private sector credit risk management.
The PSRO will also monitor and report on compliance with policies and guidelines.
The PSRO 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 in accordance with the Bank’s strategic plan, international Multilateral Development Banks’ best practice and the protection of the Bank’s AA+ rating, market confidence and reputation.
KEY RESPONSIBILITIES
The PSRO will be required to:
- Assess non-sovereign credit risks by:
- preparing summary credit notes, advising appropriate credit risk ratings and making recommendations with respect to the further processing of individual transactions.
- ensuring the compliance of risk appetite and portfolio limits and contribute to the effective management of exposures that adversely impact the Bank’s balance sheet.
- regularly reviewing existing transactions and their credit ratings as well as the adequacy of impairment provisions, if required.
- assessing specific risks of proposed individual private sector transactions and recommend appropriate credit enhancement or risk mitigation measures.
- advising operations departments on the correct structuring of transactions with a view to treat risks.
- participating in due diligence missions on new private sector transactions and portfolio review missions on active projects, contributing to a better understanding of risks associated with them and of risk mitigation options.
- advising appropriate pricing terms in consultation with the Finance department and Private Sector Division.
- Participate in the development and updating of private sector risk management policies, guidelines, processes and procedures for their implementation by:
- regularly reviewing the adequacy and appropriateness of policies, guidelines and procedures and proposing amendments as they may become necessary.
- participating in the development and upgrading of private sector risk identification and assessment methodologies and models, including appropriate assessment, monitoring and management of tools and systems.
- Lead portfolio monitoring and reporting by:
- monitoring compliance with existing credit limits, KPIs and thresholds.
- developing and implementing portfolio monitoring processes and tools for early warning risk profile deterioration identification and monitoring, arrears and non-performing restructuring/recovery management.
- establishing and forecasting trends with respect to portfolio risk profile, concentrations and proposing portfolio management initiatives to mitigate concentration risks.
- preparing technical notes and/or papers or conduct studies of interest to the Bank on private sector credit risk and related issues.
- Participate in private sector risk related discussions by:
- attending risk committees, credit committees and Board sessions on private sector projects.
- propagating a risk culture and serving as risk technical focal point.
- supporting the CRO in interacting with internal and external auditors and rating agencies.
- providing training, mentoring and coaching to junior staff, young professionals and the wider ecosystem.
- leading ad hoc assignments related to private sector risk issues and technical working groups.
- 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 the ORM and contributing to enhancing the Bank-wide risk culture.
- Liaise with counterparts at other institutions, particularly MDB’s, to exchange ideas on private sector risk policies and methodologies, and support/provide advice to the CRO in liaising with wider financial community.
QUALIFICATIONS AND EXPERIENCE
The successful candidate must have:
- A Master’s degree or equivalent in a financial or business discipline (finance, banking, accounting, business administration) or other related fields.
- At least five (5) years of experience working in emerging markets and a Multilateral Development Bank and/or Development Financial Institution and/or financial institutions exposure.
- An undergraduate degree with an additional two (2) years of relevant professional experience may be considered in lieu of a Master’s degree.
- Extensive experience in all aspects of private sector (i.e. project finance, corporate finance, financial institutions, SME finance etc.) financial risk assessment, mitigation, structuring of transactions, including technical, financial, country/market/industry, and political/regulatory risk analysis, transaction and portfolio management or monitoring.
- 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 credit risk quantitative and qualitative assessment techniques.
- Project/programme management experience using best practice project management methodology.
The following will be considered an asset:
- Professional certification in Risk Management and/or Finance.
- Detailed understanding of lending practices, financial products, financial modelling and risk management concepts and methodologies.
- Sound experience in private sector portfolio and remedial management.
- A general understanding of economic capital and risk-based performance measures.
- Knowledge and experience in Digital Systems, Artificial Intelligence, Applications and Tools for Risk Management.
FUNCTION SPECIFIC COMPETENCIES
The PSRO must demonstrate the ability to:
- Adopt a holistic approach to risk management according to the best practice MDB’s Enterprise Risk Management Framework.
- Understand all of the Bank’s activities and how they must integrate to achieve the organisation’s strategic goals.
- Challenge others on risk matters and take decisions on the basis of limited information available.
- Effectively apply statistical concepts to analysis.
- Apply strong critical thinking skills.
- Communicate effectively both orally and in writing with proven ability in communicating with senior managers.
- Organise, interpret and present information in meaningful way to diverse audiences.
- Exhibit high ethical standards and an uncompromising sense of integrity.
BEHAVIOURAL COMPETENCIES
The PSRO should demonstrate strong proficiency in the following organisational 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 clear course of action; comfortable making decisions based on partial information; willing to take risks in order 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 the perspective of customers; 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 scale for this Grade 20 role starts at USD81,816 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 June 15, 2026 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.