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The World Bank · 1 day ago

WBG Director, Market and Counterparty Risk - req35278

Washington, DC

Full-time

Onsite

Director/Executive

15+ years exp

The World Bank Group is a unique global partnership of five institutions driven by a bold vision to create a world free of poverty on a livable planet. The WBG Director for Market & Counterparty Credit Risk will lead a multidisciplinary team to ensure robust oversight and proactive management of market and counterparty risks, aligning with the organization's risk appetite and financial sustainability goals.

International Trade & Development

Responsibilities

Lead the establishment and review of market risk frameworks, models, limits, and policies aligned with each entity’s risk appetite and evolving market conditions

Measuring and monitoring interest rate risk on bonds, loans/commitments, and guarantees relative to risk limits

Measuring and monitoring currency risks relative to risk limits

Measuring and monitoring liquidity risks relative to risk limits

Overseeing derivatives valuation models

Provide leadership to treasury risk management functions through continuously updated policies, guidelines, and market analyses that inform decision-making on liquidity and funding strategies

Oversee the measurement, monitoring, and reporting of market, funding and liquidity risks, ensuring that exposures remain within approved limits and that management actions are timely and effective

Oversee the sizing and management of liquidity portfolios to ensure capital adequacy and financial sustainability, while maximizing the financial development mission

Deliver regular reporting to senior management and the Board(s) on the evolution of market risks, their implications for financial sustainability, and performance against limits

Ensure that analytical tools, models, and methodologies remain fit-for-purpose and reflect best practice

Participate in WB, IFC and MIGA committees, working groups and Task Forces on ALM, liquidity, capital management, and financial risk strategy

Lead the implementation of counterparty credit risk frameworks, ensuring adherence to each institution risk appetite and policy standards

Measuring and monitoring counterparty risks limits in the derivatives portfolio relative to risk limits

Oversee daily and periodic measurement, monitoring, and reporting of exposures to commercial counterparties, including potential future exposure (PFE) and concentration analysis

Supervise the evaluation and approval of new counterparties, ensuring appropriate due diligence, documentation, and mitigation arrangements

Promote strong collateral management, netting agreements, and the effective use of Credit Support Annexes (CSAs) to reduce exposure

Provide timely and independent assessments of counterparty credit risks arising from new products, instruments, or market developments

Report regularly to senior management and the Board on counterparty credit exposures, risk trends, and mitigation strategies

Oversee the governance, validation, and monitoring of risk and valuation models covering all asset classes

Maintain the enterprise-wide model inventory and classification processes, ensuring alignment with the governance framework

Strengthen consistency and quality in model governance across entities, while promoting innovation and continuous improvement

Provide independent reporting to senior management and the Board on model risk exposures, findings, and remediation progress

Champion strong model governance, validation discipline, and independent oversight, ensuring risk models are robust, well-documented, and appropriately challenged

Stay abreast of emerging model risk management practices and ensure ongoing alignment with global standards

Lead the design and implementation of a unified risk data and technology strategy supporting market, counterparty, and model risk management

Ensure that systems and data architecture enable consistent measurement, aggregation, and reporting of risks across all entities

Oversee the development of tools for real-time counterparty credit exposure measurement, counterparty credit limit management, daily risk and performance metrics, and economic capital reporting

Promote data quality, integrity, and governance to support accurate and timely risk reporting

Drive innovation through the application of advanced analytics, automation, and digital tools to enhance efficiency and insight generation

Provide transparent and timely reporting to management and the Board on technology initiatives, data capabilities, and infrastructure risks

Represent the second line function in risk governance committees related to market, counterparty and model risk, ensuring effective coordination, documentation, and timely follow-up of key risk decisions and actions

Oversee preparation and delivery of market, counterparty, and model risk reports to senior management and the Boards of IBRD, IDA, IFC, and MIGA—highlighting key exposures, limit utilizations, emerging vulnerabilities, and mitigation progress

Maintain and periodically review the governance framework for market, counterparty credit, model, and liquidity risk, ensuring clear accountabilities, escalation protocols, and decision-making structures across the WBG entities

Ensure that policies, frameworks, and guidelines remain up to date, coherent across entities, and aligned with WBG’s financial and risk appetite statements

Provide strategic direction, coaching, and feedback to maintain a high-performing, multidisciplinary team of market, counterparty credit risk, model risk, and technology risk professionals

Foster a culture of analytical rigor, collaboration, and continuous improvement, leveraging technology and data analytics to strengthen oversight and efficiency

Develop and oversee the Department’s strategic objectives, work program, staffing plan, and budget alignment with the priorities of the CROVP, CRFVP, and MIGCS

Promote teamwork and knowledge sharing within the department and across WBG Treasury, Finance Partners, and Operations partners to ensure efficient and effective delivery of market and counterparty risk oversight responsibilities

Lead the continuous enhancement of the risk framework, methodologies, and reporting infrastructure to ensure timely, accurate, and actionable information for decision-making

Represent the Market & Counterparty Risk Department and CROMC in WBG-wide task forces, management committees, and cross-institutional working groups, as well as in engagements with other multilateral development banks, regulators, and peer institutions

Maintain strong relationships with rating agencies, ensuring a clear understanding of their analytical frameworks, risk models, and implications for WBG credit ratings

Provide thought leadership on market, liquidity, counterparty, and model risk management, as well as on broader financial risk strategy, capital planning, and balance sheet resilience

Monitor and interpret global market, regulatory, and industry developments, ensuring WBG risk management practices remain at the frontier of best practice

Contribute to innovation by providing early risk input and guidance on new financial instruments, structures, and initiatives

Model exemplary WBG leadership values and managerial behaviors, reinforcing these qualities across the management team and staff

Build and sustain a diverse, inclusive, and high-performing workforce by attracting, developing, and retaining top talent with deep technical expertise

Drive technical excellence by fostering a learning environment that encourages innovation, collaboration, and professional growth

Support the management team in developing and implementing global staffing, deployment, and talent development strategies, ensuring effective succession planning and career progression

Promote a culture of accountability, teamwork, and respect, aligned with WBG’s core values and mission

Manage the Department’s budget and resources to support the effective execution of the Directorate’s strategy and work program

Ensure accountability for delivering agreed objectives through the cost-effective use of financial and human resources, consistent with internal controls and fiduciary standards

Oversee the implementation of robust internal controls and compliance with WBG policies, ensuring transparency and sound stewardship of institutional resources

Ensure that an appropriate risk management framework is in place to meet the department’s objectives—supporting the timely identification, measurement, and mitigation of market, counterparty, model, and infrastructure risks

Qualification

Market Risk ManagementCounterparty Credit RiskModel Risk GovernanceRisk TechnologyFinancial Risk ManagementQuantitative AnalysisStakeholder EngagementLeadershipCommunication SkillsTeamwork

Required

Seasoned manager with typically at least 15 years of relevant experience leading a world class market risk function, including exposure to fixed income and derivatives markets, market and commercial counterparty credit risk, and treasury risk oversight with a strong quantitative and model-based dimension

Master's degree with 15 years of experience or equivalent combination of education and experience

Proven track record of intellectual leadership and effective management of professional staff

Demonstrated business judgment and deep understanding of the broad spectrum of financial risks relevant to Multilateral Development Bank (MDB) rating methodologies

Proven ability to lead innovation and cultural change, with a track record of improving risk systems, processes, and operational frameworks

Proven ability to lead cross-cutting institutional initiatives, work effectively across boundaries, build consensus, resolve complex problems, and foster teamwork

Excellent communication skills, both written and oral, with the ability to convey complex issues clearly to diverse audiences. Capable of listening effectively, standing firm when appropriate, and delivering difficult messages with tact and professionalism at all levels, including with senior management and external counterparts

Experience managing stakeholder engagement and interactions with senior leadership, demonstrating strong interpersonal effectiveness and sound judgment