Director, Policy & Market and Operational Risks

Reports to: Chief Risk Officer 
Deadline: February 10, 2023

Job Profile

The Director, Policy & Market and Operational Risks (PMOR) will lead the planning, implementation, and supervision of PMOR work program in line with OPEC Fund’s strategies, policies, and business plan. PMOR key responsibilities include risk policy and methodology development as part of OPEC Fund’s comprehensive risk management framework, market and operational risk management, risk reporting, expected credit loss assessment, risk related IT system development and implementation, and work activities related to OPEC Fund’s credit ratings.

Duties and Responsibilities

Policy development and implementation

• Oversees development, implementation, and maintenance of risk policies, processes, methodologies, and IT systems for managing all major risks in OPEC Fund’s operations.

Market and operational risk management and analysis

• Leads and oversees assessment, mitigation, monitoring, and reporting of major risks in treasury operations (market, credit, counterparty, ALM, and liquidity risks) and operational risks across all units at OPEC Fund.
• Leads and oversees development and implementation of risk analytics for managing market and credit/counterparty risks in treasury operations.
• Oversees performance measurement of the liquidity portfolios against set objectives, policies, and benchmarks.
• Oversees development and implementation of valuation models for treasury liquid assets, borrowings, and related hedging transactions.
• Leads and oversees development and implementation of workshops on assessment and mitigation of operational risks, including business continuity plan.
• Oversees development and implementation of IT systems for market and operational risk management.
• Oversees administration of Risk Management and Asset and Liability Committees.
• Oversees review of OPEC Fund’s asset allocation strategy taking into account liquid asset investment objectives, risk appetite, and risk/return profile of different asset classes.
• Oversees assessment of quarterly and year-end expected credit losses in line with approved provisioning policy and guidelines.
• Oversees preparation of materials for use in annual reviews of OPEC Fund’s credit ratings as well as responses to queries or information requests from rating agencies.
• Oversees development and preparation of annual and quarterly risk management reports.

Stakeholder management and engagement

• Works closely with other departments within the bank to promote risk culture and improve risk compliance.
• Develops and maintains relationships with key external stakeholders, including treasury counterparties, external fund managers, development financial institutions, and rating agencies.

• Carries out other tasks assigned by the Chief Risk Officer.

Qualifications and Experience

• Master’s degree in Accounting/ Finance/ Economics or equivalent professional qualification.
• A minimum of 15 years of banking experience.
• Preferably, at least five years of experience with global or regional banks, fund managers, or multilateral/bilateral development financial institutions with specific experience in market risk, fixed income portfolio management, operational risk, and policy development.
• Fluency in English. Good working knowledge of French, Arabic, German or Spanish is an added advantage. 

Skills and Competencies

• Demonstrable knowledge of risk management concepts and principles in the context of highly rated multilateral development financial institutions, covering capital adequacy, liquidity, credit risk, market risk, operational risk, asset and liability management, and provisioning.
• Good understanding of lending and investment practices, banking products, and rating agency methodology.
• Strong interpersonal, teamwork and analytical skills, as well as high level of integrity and drive for achieving results.
• Well-versed in applying analytical and problem-solving skills to complex situations. 
• Ability to work within a multi-cultural and multi-disciplinary team.
• Ability to work under pressure.