A candidate must demonstrate comprehensive technical knowledge of credit risk analysis for counterparts in various industries acquired in a major financial institution’s credit team and/or credit rating agency for at least 5 years, covering various types of counterparts including corporates and financial institutions. In particular, a candidate with experience in structuring and analyzing the risks arising from structured finance transactions such as collateral debt obligations and rating struct... more details
Credit Risk Officer
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Job #: |
req27898 |
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Organization: |
MIGA |
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Sector: |
Risk |
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Grade: |
GF |
| Term Duration: | 3 years 0 months |
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Recruitment Type: |
International Recruitment |
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Location: |
Washington, DC,United States |
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Required Language(s): |
English |
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Preferred Language(s): |
Spanish, French |
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Closing Date: |
7/1/2024 (MM/DD/YYYY) at 11:59pm UTC |
Description
Do you want to build a career that is truly worthwhile? The Multilateral Investment Guarantee Agency (MIGA) is a member of the World Bank Group, and our mission is to promote foreign direct investment into developing countries to help end extreme poverty and boost share prosperity. We do that through the provision of political risk insurance and credit enhancement to investors and lenders against losses caused by noncommercial risks. For more information, visit www.miga.org.
The MIGA Finance and Risk Department (MIGFR), which the Risk Analytics team is housed, acts as the custodian of MIGA’s financial integrity with a focus on both income sustainability and balance sheet strength. The Risk analytics team also provides analytical support for the effective implementation of MIGA’s operational work program.
The Credit Team within MIGFR conducts the counterpart credit analysis for state-owned enterprises (SOEs) to support MIGA’s credit enhancement guarantee, Non-Honoring of Financial Obligations by State-Owned Enterprises (NHFO SOE) products, as well as for reinsurance counterparts to manage the risk profile of MIGA’s guarantee portfolio. The Credit Team is seeking a Credit Risk Officer, who will be responsible for assessing, rating, and monitoring the credit risk of (i) sovereign-owned enterprises (SOEs) in developing markets where MIGA considers providing credit enhancement through Non-Honoring of Financial Obligations by State-Owned Enterprises (NHFO SOE) products, and (ii) reinsurance counterparts for whom MIGA uses to promote private capital mobilization and to prudently manage the risk profile of MIGA's portfolio.
Duties and Responsibilities
A candidate must demonstrate comprehensive technical knowledge of credit risk analysis for counterparts in various industries acquired in a major financial institution’s credit team and/or credit rating agency for at least 5 years, covering various types of counterparts including corporates and financial institutions. In particular, a candidate with experience in structuring and analyzing the risks arising from structured finance transactions such as collateral debt obligations and rating structured finance entities is strongly preferred.
In the above context, the selected candidate is envisaged to:
- participate in underwriting teams for new NHFO SOE transactions in which (s)he will provide verbal and written analysis of the credit risk to MIGA resulting from the provision of credit enhancement to financial institutions and corporates under its NHFO SOE product;
- conduct credit due diligence;
- recommend appropriate credit risk mitigants – or enhancements as part of such NHFO SOE transactions;
- submit and present SOE credit risk analyses to relevant MIGA decision-making committees, both verbally and in written form;
- contribute to documents presenting NHFO SOE transactions to MIGA’s Board of Directors for approval;
- contribute to the credit team’s responsibilities of monitoring the credit quality of MIGA’s NH-SOE portfolio;
- conduct an annual or ad-hoc credit risk analysis for reinsurance counterparties and provide a written analysis of the credit rating assessment report; and
- participate in MIGA’s quarterly Reinsurer Counterparty Credit Risk (RCCR) committee to present a credit report and rating recommendation.
Selection Criteria
- Must have a Master’s degree (e.g., MBA, Finance) and at least 5 years of solid and relevant experience in analyzing credit risk, encompassing both financial and non-financial risks of various counterparts, or an equivalent combination of education and experience.
- A direct experience of structuring and analyzing the risks arising from structured finance transactions and rating structured finance entities is strongly preferred.
- Must demonstrate deep technical knowledge of credit risk analysis acquired in a major financial institution and/or credit rating agency.
- Must be a collaborative team player with the ability to stand up under scrutiny and pressure.
- Outstanding analytical abilities.
- Excellent partnering and interpersonal skills, and the ability to establish and develop relationships within the organization and with the reinsurance underwriting team.
- Sensitivity to operate successfully in multi-cultural and highly diverse environment.
- Excellent communication and presentation skills in English, both written and orally.
- Impeccable personal and integrity record.
- Motivated and enthusiastic about the opportunities and challenges of working for a development institution.
- Ability to work independently, prioritize assignments, and provide timely support to internal clients, often under time pressure.
- Excellent organizational skills and be a strong team player.
- Ability to identify relevant sources for information and to apply it to make smart decisions and produce actionable recommendations.
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.
