Risk Specialist; Financial and Economic Risks - Office of Risk Management

Job Summary

The IMF is the apex International Organization at the heart of supporting the stability of the International Monetary and Financial System. The Fund is engaged in a significant enhancement of its Enterprise Risk Management (ERM) framework to bring the scope and operations in line with those in other major organizations and international bodies. The scope of the ERM framework covers all activities of the Fund, including surveillance, lending, and CD.

The Office of Risk Management (ORM) is at the center of these efforts and has the lead in developing and supporting implementation of a strengthened ERM framework at the Fund. This includes development of additional methodologies and tools to identify, assess, analyze and monitor risk, including new risk methodologies and techniques, and their use by Area, Functional, and Support departments; and producing reports on the Fund’s risk profile at regular intervals.

ORM is also tasked to highlight areas where additional risk analysis or mitigation efforts are needed and complements risk management policies and practices in operational departments. A key objective is enhanced risk-based decision support across the organization. To enable this, ORM is also responsible for developing Fund training in risk management, strengthening the governance around the risk management function and fostering a culture of risk acknowledgment in the organization.

ORM will also provide an independent challenge of enterprise risk information and assessments of Departments.

To aid in the full implementation and ongoing operational execution of the framework the ORM is looking for a Risk Specialist to work on analysis of economic and financial risks facing the Fund and its members to inform the assessment of the Fund’s enterprise financial risks. The position will also involve analysis of existing financial and economic risks facing the Fund and its membership and the further development and implementation of new metrics and tools to increase ORM’s capabilities to effectively assess and support mitigation of risks in these core areas of the Fund’s operations, and provide aggregate reporting.

• Development of Risk Tools:
  Supporting the development of financial risk assessment tools and practices to analyze and report on financial risks to the Funds balance sheet spanning credit, liquidity and market risks.
• Data & Analytics:
  Contribute to the design and implementation of risk data models, analytics, stress-testing and scenario development, and reporting capabilities, focused on enterprise financial risks.
• Analysis and Reporting:
  Monitoring, analyzing and preparing reports on financial risks within the organization's business units and on a corporate basis.
• Review:
  Support the coordination and preparation of risk-based reviews of country documents for program and systemically important countries.
• Policy Compliance:
  Support assessing that the organization's financial risk management policies, limits, and strategies are in compliance with applicable standards, best practices and strategic imperatives of the organization.
• Relationship Management:
  Support engagement with relevant departments to develop risk analytics and metrics and to help departments identify, treat and report on their key enterprise risks with a focus on financial and economic risks facing departments.

Educational development, typically acquired by the completion of an advanced university degree, or equivalent, in business, accounting, economics, finance, information technology, law, communications, organizational development, or a related field, or a professional certification either as an Accountant (CPA or international equivalent) or as an Auditor (CIA or CISA), supplemented by a minimum of four (4) years of relevant work experience, is required.

Alternatively, a minimum of two (2) years of experience in a related position at Grade A10, or equivalent, is required.

• Excellent analytic and quantitative skills ideally with application to economic and financial risk assessments for sovereigns, performance of IMF programs, and…