Director for Policy, Market and Operational Risk at Organization Of The Petroleum Exporting Countries (OPEC)

Location: Austria

Job Profile

• The position is responsible for leading, planning, and overseeing the development and maintenance of risk policies as part of the OPEC Fund’s comprehensive risk management framework and managing market risk and operational risk.
• The risk management framework covers capital adequacy and all major risks in the OPEC Fund’s operations, including liquidity, credit, market, asset and liability (ALM), and operational risks, as well as credit approval and monitoring, risk rating, and loan pricing.

Among the major tasks include:

• Developing and maintaining risk policies;
• Measuring, mitigating, and monitoring market, counterparty, ALM, liquidity, and operational risks;
• Preparing risk reports; and
• Developing and implementing IT support for market and operational risks. The position supervises one senior risk officer and two risk officers.

Duties and Responsibilities

• Lead and oversee the development, implementation, and maintenance of risk policies, processes, methodologies, and systems for managing all  major risks in the OPEC Fund’s operations
• Oversee assessment, mitigation, monitoring, and reporting of major risks in treasury operations, including market, credit, counterparty, ALM, and liquidity risks
• Lead and oversee the development and implementation of risk analytics for managing market and credit/counterparty risks in treasury operations
• Provide advice and recommendations on asset allocation strategy taking into account the OPEC Fund’s liquid asset investment objectives, risk appetite, and risk/return profile of different asset classes
• Oversee performance measurement of the liquidity portfolios against set objectives, policies, and benchmarks
• Provide assistance and advice in relation to external fund managers, including selection, performance measurement, and assessment of investment strategies 
• Oversee the development and implementation of valuation models for treasury liquid assets, borrowings, and related hedging transactions
• Lead and oversee assessment, mitigation, and monitoring of operational risks across all units at the OPEC Fund
• Lead and oversee development and implementation of workshops on assessment and mitigation of operational risks
• Lead and oversee development and implementation of IT support system for storing, monitoring, and reporting operational risk data
• Oversee periodic reviews and enhancements of risk policies, processes and methodologies
• Lead and oversee IT projects and other special projects to meet risk management requirements
• Oversee the development and preparation of the market and operational risk section of the quarterly risk management report
• Work closely with other departments within the bank to promote risk culture and improve risk compliance
• Develop and maintain relationship with key external stakeholders, including treasury counterparties, external fund managers, development financial institutions, and rating agencies
• Carries out other tasks assigned by the Senior Director, Risk Management Department

Qualifications
Education and Experience:

• Master’s Degree or equivalent in either Business Administration, Finance, Accounting, Economics or related fields
• Minimum 15 years of investment, treasury, and/or risk management experience with global or regional banks, fund managers, or multilateral/bilateral development financial institutions with specific experience in market risk, fixed income portfolio management, operational risk, and policy development 

Competencies:

• Extensive knowledge of financial concepts and quantitative tools of risk measurement and reporting, particularly in relation to fixed income portfolio management, funding operations, and operational risk
• Excellent understanding of treasury operations, fixed income portfolio management, cash and derivative markets
• Strong quantitative skills in the area of market and counterparty risk management and derivative
• Excellent verbal and written communication skills in English, including the ability to prepare and deliver coherent presentations; working knowledge of other major languages will be an added advantage
• Excellent interpersonal, analytical, leadership, and supervisory skills, as well as high level of integrity and drive for achieving results
• Proven negotiation and decision-making skills
• Demonstrable ability to work in an international multi-cultural environment, with sensitivity and respect for diversity