Lead Risk Specialist

The mission of the Department of Risk Management and Compliance (DRMC) is to develop, manage and update comprehensive risk frameworks, policies and processes; prioritize, monitor and report risks affecting the Green Climate Fund (GCF); and review pipeline and portfolio investments and programs to ensure that they are within the Fund’s risk tolerances,  comply with the Fund’s compliance and risk policies, and achieve optimal risk-reward for the Fund. 

The incumbent will be responsible for: 

• Leading the management of institutional financial and operational risks as a second line of defense, with special focus on solvency, liquidity, funding and operational risk.
• Leading the revision, development, implementation and maintenance of liquidity, market and operational risk management frameworks, tools and methodologies to identify current and emerging risk scenarios.
• Leading the institutional risk management work program to ensure that risk analysis is undertaken on GCF’s Treasury and Finance activities in compliance with GCF’s risk policies and appetite.
• Advising the Chief Risk and Compliance Officer and Executive Leadership Team on market, liquidity and operational risk and economic capital allocation strategies.
• The incumbent will also support the Chief Risk and Compliance Officer to develop strategies and work programs and effectively manage the delivery of DRMC’s institutional risk management programs, nurture collaboration within the DRMC and with Finance, Treasury and other stakeholders in the Secretariat, and perform additional tasks as assigned by the Chief Risk and Compliance Officer.
• Refine, develop, and implement liquidity risk policies, procedures and tools to ensure resilience under normal and stress conditions and recommend strategies for optimal liquidity usage.
• Lead the development and implementation of economic capital models ensuring alignment with GCF’s business objectives, advise management on capital allocation strategies and conduct scenario analysis.
• Refine the Funding Risk policy, develop procedures and provide market risk oversight on exposure to interest rate and foreign exchange risks and stress testing frameworks, and provide insights on mitigants for adverse market movements.
• Develop and implement a framework to assess operational risks that could amplify market or liquidity risks for GCF and monitor key risk indicators to ensure alignment with GCF’s risk appetite.
• Act as a trusted advisor to stakeholders that combines theoretical and practical perspectives in relation to liquidity, market and operational risk identification and mitigation strategies.
• Motivate Team members to excel in their individual specializations while ensuring coherence and teamwork.

Engagement:

• Advocate for risk learning and sharing culture and nurture collaboration within the Fund.
• Develop and lead the team’s resources and its capacity to perform timely and quality assessment on current and emerging risk scenarios.
• Showcase the value of the Team to influence relevant decision-making bodies, including the Management Team and Committees.

Delivery:

• Advise the Chief Risk and Compliance Officer on the strategic direction of the Team and allocation of resources to achieve goals in line with the Fund’s strategy.
• Effectively manage the delivery of liquidity, market and operational risk program, accepting responsibility for outcomes.
• Lead and implement a systematic process to capture and disseminate knowledge, lessons learnt and good practices to strengthen GCF’s risk management processes with a focus on risk assessment and risk monitoring of GCF’s Treasury and Financial Control risks.
• Oversee the implementation of risk monitoring and reporting and preparation of regular and ad hoc risk reports

Requirements (Education, experience, technical competencies required :

• Master’s degree in Finance, Business, Economics, Mathematics or equivalent is preferred.
• At least 13 years of relevant work experience in a major international financial institution or multilateral development bank focusing on emerging markets; or 2 additional years of experience with Bachelor’s degree or equivalent.
• Deep understanding of liquidity, capital adequacy and market risk regulatory and rating frameworks and proficiency with relevant risk management tools and systems.
• Exceptional analytical skills with a strong attention to details and expertise in financial risk modeling, scenario analysis and stress testing.
• Proven track record in successfully developing and/or implementing market and liquidity risk management frameworks and methodologies including risk models and limits is strongly preferred.
• Experience in and good understanding of operational risk is preferred.
• CFA, FRM, or equivalent qualification is preferred.
• Demonstrated ability to lead cross-cutting initiatives across the institution and work across boundaries to build consensus, resolve problems, and foster teamwork.
• Proven experience of effectively managing diverse teams of seasoned professionals is preferred.
• Demonstrated ability to work in a multi-disciplinary and multi-cultural environment.
• Unquestionable integrity and adherence to the highest ethical standards.
• Excellent written and oral communication skills in English are essential for this position; knowledge of another UN language is an advantage.
• Knowledge of climate change and climate finance strategies of multilateral organizations and other international institutions is an advantage.

Source: https://jobs.greenclimate.fund/job/Incheon,-South-Korea-(ICN)-Lead-Risk-Specialist,-Institutional-Risk/1158362201/