Purpose of Job
As part of the Country and FI Credit Risk Management Team, the job holder will be required to independently analyse and appraise risks of EBRD’s new and existing portfolio Financial Institutions debt transactions. As appropriate, the job holder will be required to conduct the following: identification and execution of required due diligence, recommendation of appropriate risk mitigation measures and transaction structures, including security, covenants, and pricing; review of portfolio and new proposed projects; preparation of analytical data; communication of trends in the portfolio to allow broader strategic decision-making and bottom-up stress-testing; recommendation of portfolio management actions, review of country risk; approval of counterparty, transaction or sovereign ratings; setting of counterparty limits, approval of transactions where appropriate under delegated powers. The Principal Risk Officer will coach and supervise Associate Risk Officers and Analysts as well as junior bankers rotating through the team.
Background
Risk Management is the Bank’s second line of defence, which is responsible for the independent identification, reporting and mitigation of risks. The Principal Risk Officer provides analytical support and recommendations to his/her management in the Country and FI Credit Risk team, feeding into final recommendations to the Operations Committee, Small Business Information Review Committee, or approval of projects together with Banking under Delegated Authority for Banking transactions and exercising delegation granted under the Treasury Credit Process for Treasury transactions.
Facts / Scale
The Country and FI Credit Risk Management Team comprises one director, 8 Associate Directors, 7 Principal Risk Officers and 5 Associates and other staff on rotation or on internship. The staff are organised into five sub-teams: two FI Credit Risk Teams, a Country Risk Team, an ABS Risk Team and a Treasury Counterparty Risk Team. The Principal Risk Officer role sits within one of the FI Credit Risk Teams). The FI Credit Risk Teams are responsible for transaction structuring advice, transaction approval and credit risk portfolio management for over 270 bank and non-bank financial institutions within the EBRD’s Countries of Operation.
Accountabilities & Responsibilities
The Principal Risk Officer will work under supervision of the Associate Director and/or Director, but with varying levels of supervision depending on his/her experience and the relevant task. He/She is expected to demonstrate considerable ability to work un-supervised and exercise their own decision-making ability, using their delegated powers where appropriate:
- Establish an independent and unbiased view on projects proposed to the Operations Committee / SBIC / under Delegated Authority and make clear recommendations, or approvals on each proposal.
- Analyse the key risks of each proposal and advise on risk mitigation measures, structures, tenor, security, covenants and condition precedents, to the project teams and, via credit notes. Review integrity and anti-money laundering issues to ensure compliance with internal guidelines and advise on referral to the Office of the Chief Compliance Officer as required. Appraise the validity and reliability of key assumptions of each proposal, including via involvement in the commissioning and review of independent due diligence and travel.
- In liaison with other units in Risk, Banking and Office of Chief Economist, lead the country portfolio reviews.
- Ensure projects comply with any relevant risk guidelines, prudential limits set by the Bank, and that appropriate ratings are assigned for probability of default and loss given default. Have the ownership of Risk data in the area of responsibility.
- Exercise independent delegated authority regarding portfolio actions (including certain waivers and amendments), and recommendations to senior management on matters requiring higher level approval (including transfers to corporate recovery, provisions and more significant restructuring, etc.).
- Lead proactive and regular monitoring of the assigned portfolio counterparties, countries and market developments. Actively and constructively engage with Banking and other relevant staff to ensure adequacy of front-line monitoring and coach and mentor Banking when appropriate (including through Banking staff rotation in Country and FI Credit Risk Management).
- In liaison with Risk Policy and Analytics and other Credit teams lead periodic FI sector portfolio reviews as requested by the Team Director and provide input to Bank-wide and Regional stress-tests. Collaborate with other members of staff; especially in the Banking Department, Finance, the Office of the General Counsel and EPG to ensure effective cross-departmental and business functioning.
- Participate in various executive Bank committees - including the Operations Committee, SBIC, RiskCom etc. Support the presentation of transactions and initiatives to the Board as appropriate.
- Participate and contribute positively to various initiatives within Risk Management or bank-wide. Be an agent of credit culture dissemination, including through work with bankers or economists or others on rotation.
Knowledge, Skills, Experience & Qualifications
FI Credit Risk Team:
- Advanced degree in finance, business, economics or equivalent on the job training.
- Influencing skills in challenge to the Banking team’s selection, structuring and portfolio management of the transaction and ability to articulate different views.
- Substantial experience of analysing financial institutions.
- Excellent financial modelling and financial accounts knowledge.
- Knowledge of emerging markets in the Bank’s countries of operation.
- Ability to deliver clear authoritative conclusions in the context of large volumes and tight timescales.
- Proven skills and track record in autonomous decision-making capacity in high risk environments.
- Strong written and spoken communication skills.
Behaviours
The Principal Risk Officer is expected to:
- Analyse and size up projects rapidly and to make authoritative recommendations.
- Build rapport and understanding with colleagues on the team and in other departments.
- Build trust with stakeholders by presenting sound arguments based on evidence.
- Deliver information in the right format to differing groups by having effective writing and verbal skills (also through clarification of scope of any assignment).
- Find and share technical knowledge (on international best practice, specific industries, countries, banking and treasury products and individual projects or transactions) with colleagues.
- Display a solution-orientated approach and a collaborative working style, reflecting understanding and awareness of the perspectives of others.
What is it like to work at the EBRD?
Our agile and innovative approach is what makes life at the EBRD a unique experience! You will be part of a pioneering and diverse international organisation, and use your talents to make a real difference to people's lives and help shape the future of the regions we invest in.
The EBRD environment provides you with:
- Varied, stimulating and engaging work that gives you an opportunity to interact with a wide range of experts in the financial, political, public and private sectors across the regions we invest in;
- A working culture that embraces inclusion and celebrates diversity;
- An environment that places sustainability, equality and digital transformation at the heart of what we do.
Diversity is one of the Bank’s core values which are at the heart of everything it does. A diverse workforce with the right knowledge and skills enables connection with our clients, brings pioneering ideas, energy and innovation. The EBRD staff is characterised by its rich diversity of nationalities, cultures and opinions and we aim to sustain and build on this strength. As such, the EBRD seeks to ensure that everyone is treated with respect and given equal opportunities and works in an inclusive environment. The EBRD encourages all qualified candidates who are nationals of the EBRD member countries to apply regardless of their racial, ethnic, religious and cultural background, gender, sexual orientation or disabilities. As an inclusive employer, we promote flexible working and expecting our employee to attend the office 50% of their working time.
Please note, that due to the high volume of applications received, we regret to inform you that we are unable to provide detailed feedback to candidates who have not been shortlisted (for further consideration).