ย
The International Fund for Agricultural Development (IFAD) is an international financial institution and a specialized United Nations agency dedicated to eradicating rural poverty and hunger. It does so by investing in rural people. IFAD finances programmes and projects that increase agricultural productivity and raise rural incomes, and advocates at the local, national and international level for policies that contribute to rural transformation.ย
The Office of the President and Vice-President of IFAD (OPV) oversees the Corporate Services Support Group (CSSG) and supervises the Protocol Unit. The CSSG comprises the: (a) Office of the General Counsel (LEG) ; and (b) Office of Audit and Oversight (AUO), reporting to the President; (c) Office of Strategic Budgeting (OSB); (d) Quality Assurance Group (QAG); (e) Change, Delivery and Innovation Unit (CDI); and (f) Office of Enterprise Risk Management (RMO), reporting to the Vice-President; and (g) Ethics Office (ETH), a stand-alone unit reporting administratively to the Vice-President.ย
The Office of Enterprise Risk Management (RMO) is a dynamic, strategic and responsive service provider, leading IFAD's second line of defense by fully supporting the management of all risks across the organization. The RMO implements, monitors, and maintains an efficient and effective Enterprise Risk Management programme, supporting IFAD's strategic vision and mandate. The RMO aims to enable better informed risk taking by using consistent risk management best practices across the organization to achieve the Fund's objectives in the long-term and deliver on its development commitments. The Office is responsible for oversight and monitoring of risk exposures and enabling clear reporting of IFAD's risk profile.
The Risk Officer reports to the Lead Financial Risk Officer and works under the overall strategic guidance of the Associate Vice-President, RMO.ย
Job Role ย
Risk Officers at this level are seasoned professionals reflecting an in-depth, broad understanding of applicable regulations, standards and methods as well as IFAD's financial regulations, rules and transactional procedures in one or more financial risk occupations including but not limited to asset liability management and capital adequacy.
Position specifics: The Risk Officer ย (Private Sector & Climate Finance) will support a robust second line of defence at IFAD to achieve adequate risk management and contribute to the Private Sector investments and Climate Finance initiatives.ย
Key Functions and Results ย
1. RISK BUSINESS PARTNER: The Risk Officer is a credible, trusted partner to the client offices served and the Department/Division/Unit where assigned. S/He supports the Fund's risk strategy and plans, as well as models a commitment to financial integrity by acting as a responsive and constructive service provider with a focus on results. The Risk Officer provides seasoned verbal and written advice and guidance to supervisors and staff on financial regulations, rules and procedures, facilitating a mutual understanding of roles and fiduciary accountabilities in direct support of integrity in the recommendations and timelines for corrective actions with responsible officers, drafts audit reports for the entire assignment or portion of the assignment, monitors the implementation status of agreed recommendations, prepares working papers for review by the lead auditor or reviews working papers prepared by junior staff or external experts auditors. The Risk Officer (Finance) ย accountabilities are: (a) Assess, monitor and report on IFAD's capital adequacy policy based on an Assess, monitor and report on IFAD's capital adequacy policy based on an internal capital adequacy model and rating agency Risk Adjusted Capital Methodology (b) Design forward-looking simulation and stress testing models of IFAD's capital structure to ensure capital adequacy understanding the intricacies of the institution's risk exposures (c) ย Monitor and update the Fund's strategic capital adequacy limit setting and monitoring, leverage ratio policies, credit quality of the portfolio, funding and counterparty concentration, in a comprehensive capital adequacy and exposure management framework in line with the organization's risk appetite (d) Conduct asset liability management related analysis and make recommendations on the asset and liability structure, interest rate, duration, currency, liquidity and other potential mismatch positions (e) Coordinate and partner proactively with IFAD's divisions involved in the design of asset and liability management planning and monitor the actual results and implemented strategies to drive IFAD towards its financial and operational targets (f) Support the implementation of system enhancements to improve data accuracy and analysis capabilities related to the risk function and asset liability related projects (g) Proficient knowledge of financial concepts and quantitative tools pertaining to fixed income valuation, risk and performance measurement (h) Identify, measure and monitor the Fund's financial positions, risk exposures and performance for the funding, investment and hedging activities carried out by Treasury, including the preparation of related reports to Senior Management and relevant committees as needed (including Audit Committee, Executive Management Committee, Executive Board, Enterprise Risk Management Committee, etc.). (i) Lead the preparation of data and analysis for the rating review exercise with credit rating agencies (k) Participate in technical working groups on financial projections, pricing, funding and liquidity supporting the Lead Financial Risk Officer with technical leadership/capacity development initiatives and awareness campaigns.
2. FINANCIAL MANAGEMENT: The Risk Officers are seasoned professionals with the capacity to interpret and apply a broad range of industry best practices, international and IFAD financial policies, rules and regulations as well as standards and techniques. Activities performed by Risk Officer at this level may include (a) maintaining the financial procedures relating to the assigned operation; (b) preparing information for internal financial and risk reporting, and for IFAD's Annual Financial Statements, as applicable; and (c) preparing timely, substantive replies to internal and external audit observations concerning the assigned financial operation.ย
3. PARTNERSHIP BUILDING: Risk Officers contribute to the development of financial and risk policies through simulations and enhancement of financial models; build simulations on a range of likely scenarios reflecting IFAD's current and future resources and financial positions, analyse simulation results and identify key inputs for information on resource mobilization priorities/opportunities; analyse trends in financial data to assess relevance of existing models; recommend changes to underlying assumptions to promote alignment with current and future operating realities; maintain linkages between financial model development and projections of balance sheet and income statements; ensure integration with the structure of IFAD's balance sheet and income statement; and enhance current financial models including integration with other excel-based information in collaboration with team colleagues.
4. AGENT OF CHANGE: The Risk Officer understands and contributes in applying the principles of change management and proactively serves as a role model for transformation and positive change. S/He has a general knowledge of results based management, enterprise resource planning (ERP) and information technology. At this level the Risk Officer contributes to change, working with the manager in consulting inter-organizational and internal risk management colleagues, IFAD senior management and outreaching client offices to build understanding of risk management practices, and to ensure open and regular communications pertaining to current and planned changes in the Fundโs risk management standards, regulations and rules. He/She might supervise the work of junior unitโs staff to ensure the achievement of divisional objectives.
5. MANAGERIAL FUNCTIONS:The Risk Officer is accountable for integrity, transparency, and equity in the personal use of assigned IFAD resources, including equipment, supplies and, as applicable, staff supervised. This includes People Management through supporting the Lead Risk Officer with technical leadership/capacity development initiatives and awareness campaigns. UN and IFI documentation & processes, Knowledge of the relevant policies, rules, regulations and guidelines on document processing and distribution within the UN and other IFIs.
Position specific: ย The Risk Officer ย (Private Sector & Climate Finance) supports the Fund's risk strategy and plans in the area of Private Sector Investments and Climate Finance.The Risk Officer assesses and identifies risk of individual private sector transactions, recommends a credit rating and advise on any potential mitigation measuure applicable. The Risk Officer assist in the formulation, review and update of guidelines and procedures relating to the private sector portfolio. This includes the development and review of methodologies, process and system to manage the credit risk. The Risk Officer monitors and report exposure limits inlcuding related IFRS9 metrics in collaboration with the Accounting Division. The Risk Officer also assit in dealing with any risk related to Climate Change that might impactโs operations and its loan portfolio.
Key Performance Indicators ย
Risk Officers work in an independent and rigorous risk management function and are accountable, under the Lead Officer supervision, for producing various reports to stakeholders and others interested in the activities of the Fund. S/He contributes to achieve RMO work plan goals and objectives also through the preparation of new and/or modified versions of existing policies, practices and techniques. Based on a thorough knowledge of finance and risk principles, concepts and systems, the Risk Officer independently performs the full range of tasks assigned. The supervisor may be consulted in the analysis of complex and/or precedent setting cases to ensure consistency in the interpretation and application of regulations and rules and to document such decisions. The work typically requires the identification of the need for changes to risk policies, as well as the authoritative interpretation and application of risk policies, rules and regulations to a broad range of complex casework. The Officer's responsibilities also include supporting the supervisor in key decision-making initiatives. The key performance indicators for Risk Officers at this level include both technical and behavioural results. Accurate performance of assigned finance/risk operations, technical quality in terms of both substantive depth and adaptive relevance to client needs and customer service approach to problem resolution.
Working Relationships ย
Internally, Operational Risk Officers are the Fund's technical experts. Contacts extend throughout the organization and include Country Office staff, internal audit officers and evaluation officers. Risk Officers are required to explain, clarify and implement financial plans and decisions taken or procedural changes planned to ensure accuracy, completeness and integrity of financial data and reporting. ย S/He may need to be performed in collaboration and coordination with other organizational units to ensure the effective implementation of risk management rules and procedures.External work relationships, if and when required by the Lead Officer, Supporting the Lead Officer, s/he may need to be in direct contact with external auditors and counterparts in other IFI and UN organizations, which normally requires a potential exchange of information with externa. They are also delegated authority to make commitments on routine aspects of the assignment.
Job Profile Requirements ย
Organizational Competencies:
Level 1:
Building relationships and partnerships - Builds and maintains effective working relationships Communicating and negotiating - Communicates effectively; creates understanding between self and others Demonstrating leadership - Personal leadership and attitude to change Focusing on clients - Focuses on clients Learning, sharing knowledge and innovating - Continuously seeks to learn, shares knowledge & innovates Managing performance and developing staff - Managing time, resources and information - Manages own time, information and resources effectively Problem-solving and decision-making - Demonstrates sound problem-solving and decision-making ability Strategic thinking and organizational development - Personal influence Team working - Contributes effectively to the teamEducation:
Level - Advanced university degree from an accredited institution listed on https://www.whed.net/home.php in a technically relevant area (*). The advanced university Degree may be substituted by a first university degree (Bachelor or equivalent) in the above-mentioned subjects plus at least four additional years of relevant professional experience, over and above the minimum number of years of experience outlined below. Areas - Business Administration, Finance, Risk Management, Banking and other relevant areas.(*) Note: ย For internal candidates, this requirement will be assessed in line with the provisions set forth in the IFADโs Human Resources Implementing Procedures.ย
Experience:
At least five (5) years of progressively relevant experience is required, including work in international IFIs or financial services industry particularly in operational risk and internal control. ย Three (3) years in a multi-cultural organization or national organization providing support on a global scope. Position-specific experience: ย Knowledge and basic experience in project/programme management, using best practice project management methodologyCertifications:
Professional qualification in FRM, IRM, CFA, CIA, CFE or equivalent is a strong preference.Languages:
Required English (4 โ Excellent)ย Desirable: French, Spanish, or Arabic (3 โ Good)ยSkills:
Climate Finance: Finance that aims at reducing emissions, and enhancing sinks ofย greenhouse gasesย and aims at reducing vulnerability of, and maintaining and increasing the resilience of, human andย ecological systemsย to negative climate change impacts IFAD financing strategy: Expertise on the Fund`s governing and financial structure, mandate, long-term business strategy, financial rules and regulations Risk & compliance: Know-how in asset liability management, risk reporting, capital adequacy, quality assurance and compliance (e.g. Anti-money laundering (AML), Know your customer (KYC) processes), etc. UN and IFI documentation & processes: Knowledge of the relevant policies, rules, regulations and guidelines on document processing and distribution within the UN and other IFIs Financial data integrity and financial systems: know-how in systems interface control, core banking system management, data mining and analytics Financial reporting & accounting: Know-how in financial reporting, statutory and other reporting as well as advanced application of IFRS standards, derivatives, loan credit risk, financial regulations, policies, rules and procedures applicable to IFAD and IFIs Risk management (e.g. reputational): Identification and assessment of potential liabilities and risks in IFAD's activities, particularly vis-ร -vis third parties; ability to handle risks via contingency and mitigation strategies Strategy implementation: Ability to lead and manage the development and implementation of medium to longer-term strategies for IFAD / for respective divisions Policies and procedures: Know-how in design, advisory and interpretation expertise in HR policies and procedures, such as payroll and staff regulations (e.g. pensions schemes, benefits and entitlements, social services etc.) Data analysis/architecture: Know-how in the analysis and interpretation of data needs and sources taking into account its operational context, using systems and models to disseminate ensuring integrity, availability to meet reporting and business analytics needs Adaptability: Adaptability and flexibility when facing new or unexpected situations, and to specific constraints and circumstances and managing complex processes Business acumen, private sector knowledge: Outstanding ability to synthesize and simplify complex technical information for a variety of (non-technical) audiences Integrity and ethics: Strong emphasis on acting with honesty, not tolerating unethical behaviour, demonstrating equity, impartiality and sensitivity in exercising authority and interacting with staff, and otherย stakeholders. Conduct must be guided by IFAD core values, the Code of conduct and a high sense of ethics. Interpersonal skills: Ability to deal patiently and tactfully with others (e.g. visitors, clients, callers, etc.), including senior individuals (e.g. high-level meeting participants) Leadership: Group thought leader, sought out by others and providing mentorship and effective guidance to others; Ability to build trust, inside and outside the organization by acting as a role model for IFAD's core values and competencies, and to provide a clear sense of direction, mentorship and effective guidance to the team, strategizing the IFAD's goals, giving the vision, empowering the team and ensuring a positive environment for all. Written communication: Clear, succinct and convincing written communication in the language needed for specific role; highly professional, balanced and diplomatic language (e.g. for drafting of position papers, briefings, etc.) Programme/Project development, management: Know-how in Programme/Project development, implementation, management Private Sector Investment: Expertise in assessing private sector investment proposals, review of transactions and complex facilities and interventions using regular and blended finance, conducting due diligence, and recommending financial/investment decisions accordingly; Proven expertise in deploying financial instrumentsOther Information ย
Applicants should note that IFAD staff members are international civil servants subject to the authority of the President of IFAD. In accordance with IFAD's Human Resources Policy, the President can decide to assign them to any of the activities of the Fund. All International Professional staff members are required to be geographically mobile and positions in the professional category are subject to changes in location at any time in line with strategic priorities and reform initiatives in IFAD.
In the interest of making most cost-effective use of funds and resources, we are only able to respond to applicants who are short-listed for interview. Candidates who do not receive any feedback within three months should consider their application unsuccessful. Candidates may be required to take a written test and to deliver a presentation as well as participate in interviews.
IFAD is an Equal Opportunity Employer and does not discriminate on the basis of ethnic, social or political background, colour, nationality, religion, age, gender, disability, marital status, family size or sexual orientation.
Please be aware of fraudulent job offers. IFAD does not charge any fees at any stage of the recruitment process. Official communication from IFAD will always come from e-mails ending in @ifad.org.
This position is included in IFAD internal reassignment exercise and advertised externally in parallel. Should a suitable staff member be identified during the reassignment exercise and the reassignment decision accepted, the recruitment process will be cancelled. In case no suitable candidate is identified through reassignment, the recruitment process will continue.