Risk Officer, Market Risk and Local Currency

Risk Officer, Market Risk & Local Currency Description Build a career with impact. Working at the World Bank Group (WBG) provides a unique opportunity to help countries solve their greatest development challenges. As one of the largest sources of funding and knowledge for developing countries, the WBG is a unique partnership of five global institutions dedicated to ending poverty, increasing shared prosperity, and promoting sustainable development. With 189 member countries and more than 120 offices worldwide, the WBG works 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. The WBG Market and Counterparty Risk Department (CROMC), housed within the WBG Chief Risk Officer (WBG CRO), provides independent second line of defense oversight, assessment, and management of treasury risk across all WBG entities. This function strengthens the Group’s financial risk governance by ensuring that market and counterparty risks are identified, measured, monitored, and managed consistently and effectively across all WBG entities, thereby, ensuring that risk-taking activities are consistent with the WBG’s risk appetite, capital adequacy framework, and long-term financial sustainability The Market and Counterparty Risk Department (CROMC) is responsible for market, liquidity, and counterparty credit risk oversight, assessment, and reporting across the World Bank Group — including IFC, IBRD, IDA, and MIGA. Working in close coordination with the Treasury (TRE), CROMC serves as an independent second line of defense in the implementation of effective risk management practices. CROMC's core responsibilities include: • Market risk oversight across WBG institutions, including Asset Liability Management (ALM), and Liquid Asset Portfolio (LAP) risk oversight • Commercial counterparty credit risk oversight, including credit limit assignment and independent counterparty ratings across WBG portfolios — covering IFC, IBRD, IDA, and MIGA cash and derivative exposures • Daily monitoring and reporting of credit exposures across cash and derivative portfolios, including IFC-specific counterparty risks • Governance of the model risk and validation framework across WBG institutions including IFC • Quarterly reporting to the Board, Audit Committee, MDCFO, and CROVP leadership CROMC is seeking a Risk Officer, Market Risk & Local Currency, to support monitoring, analysis, and reporting of IFC’s market, and local currency risk exposures. The role also carries a significant oversight and mentorship dimension, with the selected candidate expected to guide, review, and develop junior staff across a range of technical risk and treasury functions. Duties and Responsibilities • Conduct detailed analysis of market, liquidity, local currency, and IRRBB sensitivity exposures, including EVE and NII impact assessments across IFC’s investment book and treasury portfolios. • Review capital calculations and oversee back testing exceptions, including investigation, documentation, and escalation, ensuring outputs are accurate and aligned with internal standards and regulatory expectations. • Support the development and enhancement of risk methodologies, including sensitivity analysis, stress testing, scenario design, and risk limit frameworks. • Produce timely and accurate reporting on risk exposures, limit utilization, trends, and emerging vulnerabilities. • Monitor risk parameters to ensure alignment with risk appetite, internal policies, and regulatory expectations. • Prepare memos, procedures, and frameworks for presentation to senior management and Risk Committees. • Contribute to the formulation and periodic review of market risk, local currency, and ALM policies, guidelines, and procedures. • Liaise closely with investment teams on policy-related work, including product design, hedging guidelines, and alignment with IFC’s financial sustainability framework. • Review and analyze waiver requests, including make-whole provisions or exceptions to treasury, market risk, or ALM policies, ensuring consistency, transparency, and appropriate escalation. • Coordinate with Treasury, Controller’s Department, Corporate Portfolio Management, and Credit & Counterparty Risk on ALM topics, derivatives exposures, and local currency initiatives. • Support the Annual Funding Authorization process, including preparation, review, and ongoing monitoring of approved limits and utilization. • Oversee liquidity calculations, ensuring the integrity and timeliness of outputs used in internal and external reporting. • Contribute to the production of ALCO materials and other governance committee reporting. • Support group-level reporting to ensure consistency with organizational standards and timelines. • Enhance risk metrics, dashboards, and reporting tools to improve insight and efficiency. • Assist in preparing materials for committee meetings and other governance forums. • Contribute to the Murex project and other technology-related initiatives. • Actively mentor, guide, and oversee junior staff across market risk, liquidity, and ALM functions, reviewing work output, providing structured feedback, and supporting professional development. • Foster a culture of analytical rigor, accountability, and continuous improvement within the team. Selection Criteria • Master’s degree in finance, economics, mathematics, financial engineering, or a related field. • 8–10 years of relevant experience in market risk, liquidity risk, ALM, local currency risk management, or related financial risk roles. • Strong understanding of financial markets, fixed income, FX, derivatives, and structured products. • Familiarity with emerging market local currency risk issues preferred. • Solid quantitative and analytical skills; familiarity with risk systems or programming (e.g., Python, R, MATLAB, SQL) is an advantage. • Strong written and verbal communication skills, with the ability to present complex analysis clearly. • Ability to work independently and collaboratively across departments. WBG Culture Attributes: 1. Sense of urgency: Anticipate and quickly respond to the needs of internal and external stakeholders. 2. Thoughtful risk-taking: Challenge the status quo and push boundaries to achieve greater impact. 3. Empowerment and accountability: Empower yourself and others to act and hold each other accountable for results. 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.