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About this position

The Financial and Operational Risk Division (RSM/FOR) of IDB Invest is looking for a professional with strong risk management background, specifically in operational risk management, to support IDB Invest management to deploy the operational risk management framework and improve internal controls in the business units.

RSM/FOR, part of the Risk Management Department, is responsible for managing financial and operational risks of IDB Invest. The team is divided into three main parts:

• Portfolio Management and Risk Data: responsible for overseeing the growth of the portfolio, considering concentration and other risk parameters, providing portfolio risk guidance to the business areas, managing cross-booking allocation and limits, RAROC, Risk Management MIS, reporting and limit controls.
• Market Risk: responsible for the design, implementation, update, and ongoing execution of the Market Risk Management framework. The team identifies, quantifies and monitors interest rate risk and foreign exchange risk of the balance sheet, and the price risk of the liquid investment portfolio. This area is also responsible for capital management, economic capital and counterparty credit risk management.
• Operational Risk Management: responsible for assessing and maintaining an appropriate internal control environment, managing a full operational risk framework as a second line of defense.

What you’ll do

The consultant will support the activities related to the implementation, maintenance, and monitoring of operational risk management processes, especially on finance and treasury operation processes.

Support the development, implementation, maintenance, and periodic enhancement of the Operational Risk Management Framework, policies, standards, methodologies, procedures, tools, and governance arrangements.

Maintain and promote consistent operational risk taxonomy, rating methodology, risk and control language, and documentation standards across business and support functions.

Plan, coordinate, facilitate, and document Risk and Control Self Assessments (RCSAs), including process scoping, risk identification, inherent risk assessment, control identification, control design review, control effectiveness assessment, residual risk determination, and remediation planning.

Perform operational risk assessments for key business processes to identify, assess, monitor and report on key operational risks.

Provide effective challenge and independent second line oversight of risk assessments, risk acceptance decisions, control evaluations, mitigation strategies, and management action plans prepared by the first line of defense.

Review business processes, products, services, data flows, organizational changes, and third party arrangements to identify operational risks, control gaps, critical dependencies, and opportunities for improvement.

Support the development and monitoring of operational risk appetite and tolerance metrics, including escalation criteria, breach assessment, corrective action requirements, and reporting to management and governance bodies.

Develop, maintain, and monitor Key Risk Indicators and early warning indicators; assess trends, threshold breaches, concentrations, and deteriorating risk conditions; and recommend escalation or management action.

Support the identification, classification, recording, analysis, and reporting of operational risk incidents, losses, gains, and near misses, including root cause analysis, lessons learned, and actions to prevent recurrence.

Design forward looking scenario analysis and stress testing exercises for severe but plausible operational events, including the assessment of vulnerabilities, impact pathways, control responses, and mitigation options.

Support oversight of third party and outsourcing risk, including due diligence, risk assessment, criticality and concentration analysis, control expectations, ongoing monitoring, incident escalation, resilience considerations, and exit dependencies.

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Monitor remediation plans resulting from RCSAs, incidents, audits, control reviews, scenario exercises, and other risk activities; challenge overdue or ineffective actions and escalating material concerns.

Prepare operational risk dashboards, risk profiles, committee materials, management reports, and executive summaries that clearly communicate risk exposure, trends, appetite status, incidents, control weaknesses, emerging risks, and required decisions.

Maintain complete, accurate, traceable, and auditable operational risk records, including risk registers, control libraries, incident databases, KRI inventories, issue logs, scenario documentation, and supporting evidence.

Perform qualitative and quantitative analysis of operational risk data and support the effective use of GRC tool, workflow automation, visualization, and data quality controls.

Provide operational risk advice, training, and awareness activities to strengthen risk ownership, control accountability, escalation practices, and risk culture across the institution.

Prepare and communicate risk assessment results, key findings, and emerging risk themes to management and governance bodies to support risk informed decision making and continuous improvement.

What you'll need

Education: Bachelor’s degree in finance, economist, business administration, finance or another related field. CPA, CIA, CRISC, PRM, FRM, CFM are desirable or accounting and COSO internal control certification are a plus. 

Experience: At least 10 years of relevant professional experience in financial and treasury operations, risk management, or auditing, acquired at a peer institution, regulatory agency, financial services provider, or international organization. Experience with risk, audit, compliance, and financial processes, including risks standards, such as GAAS, ISA, AS, ISO, Basel and COSO framework. Demonstrated experience applying operational risk management tools, including Risk and Control Assessments, risk appetite and tolerance monitoring, KRIs, incident and loss-event management, action-plan monitoring, scenario analysis, and risk reporting. Developing and implementing operational risk management programs as second line of defense. Evaluating the design and effectiveness of business controls, testing key controls of critical financial processes involved. Evaluating and monitoring operational risks impacts. Implementing best practices and standards about operational risks, value at risks, and key risk indicators. Experience working with datasets, database and data analytics tools and providing risk training. Advanced user of Microsoft tools: Excel, Power Point, Word, VISIO and operational risk management and data analytics tools.

Languages: Oral and written proficiency in English and Spanish required; knowledge of Portuguese is a plus.

Requirements

Citizenship: You are a citizen of one of our 48 member countries.

Consanguinity: You have no family members (up to the fourth degree of consanguinity and second degree of affinity, including spouse) working at the IDB, IDB Invest, or IDB Lab.

Our culture

At the IDB, we work so everyone brings their best and authentic selves to work while finding their purpose. Our people consistently strive for excellence, and we recognize and celebrate the impact of their contributions.

In our efforts to drive innovation, we intentionally include all voices, cultivate a sense of belonging and champion fairness. We welcome individuals from underrepresented groups to join us and share their unique perspectives.

We ensure that individuals with disabilities are provided reasonable accommodations to participate in the job interview process. If you require an accommodation to complete this application, please email us at accommodations@iadb.org.