Principal Risk Officer, Treasury Credit Risk Management (London, GB)

Principal Risk Officer, Treasury Credit Risk Management (London, GB)

Purpose of Job

As part of the Country and FI Credit Risk Management Team, as appropriate for the scope of the individual jobs, independently analyse and appraise risks of EBRD’s new and existing portfolio FI debt transactions, Treasury transactions, or associated risks (including country risks). As appropriate, 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; and communicate 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 were 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.

Treasury Counterparty Risk Team: The job holder will be a key member in a team serving as the focal point of all the key responsibilities for the credit risk management of EBRD’s Treasury operations. He/she will manage the approval and review of all Treasury counterparty limits and transactions (including exposures arising from bond investments, ABS, deposits, derivatives and repo). He/she will provide expert judgement and recommendation on all material Treasury credit risk matters, including counterparty assessment, banking sector analysis in developed countries, limit and urgent trades approvals, excess monitoring, risk reporting, negotiation of the ISDA/CSA documentation, as well as internal policy formulation.

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 ABS Risk and Treasury Counterparty Risk teams primarily support Treasury related operations which account for ca. 50% of EBRD’s balance sheet. These activities are predominantly low risk and largely undertaken to support liquidity management and FX & interest rate risk management. The core Treasury counterparty base is mainly developed market Banks and NBFIs in High Grade countries, with a growing portion of the portfolio relating to higher-risk counterparties located in EBRD’s Countries of Operations. The team covers a broad range of financial markets and traded products including interest rate swaps, foreign exchange and credit/bond instruments, with significant usage of complex, longer dated traded products.

Accountabilities & Responsibilities

The Principal Risk Officer will work under the supervision of an Associate Director and/or Director, but with the level of supervision depending on experience and the task complexity. The role requires the sound judgement and the ability to work unsupervised and exercise decision-making, including under their delegated powers where appropriate. Key responsibilities include:

• Acting as Primary Risk Manager for a portfolio of Treasury counterparties (including high-grade banks, derivative counterparties in our Countries of Operation, sovereigns and public sector entities),
• Monitor, analyse and manage credit risks incurred in EBRD's Treasury activities, including counterparty and product risks (e.g. OTC derivatives, repos, ABS and other marketable securities, and deposits), through annual credit reviews, name-by-name assessments; and product specific risk analysis.
• Provide timely support to Treasury and other business stakeholders in approving transactions and limits under delegated authority or making approval recommendations to relevant authority holders.
• Negotiate credit terms in relevant legal agreements for Treasury counterparties (including ISDA/CSA and GMRA master agreements) in cooperation with the legal department and Treasury.
• Monitor financial market developments and trends across relevant geographies and product segments, assessing regulatory developments, and recommending and implementing changes in EBRD’s risk appetite for Treasury assets where appropriate.
• Ensure limits, exposures, and legal documentation terms are correctly implemented in the risk systems, and support investigation and remediation of limit breaches.
• Develop and update credit policy documents and internal procedures in line with best practice.
• Provide support, mentoring and share knowledge with more junior team members.
• Participate in ad hoc Risk, Group wide and cross-departmental projects and initiatives as required.
• When requested, assist with other tasks identified across the Regional CFI Credit Team to help manage workloads across the entire department.
• 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.

Knowledge, Skills, Experience & Qualifications

Treasury Counterparty Risk Team:

• Bachelor’s or Master’s Degree in a relevant discipline (e.g. Finance, Business or Economics).
• Relevant experience in financial services, preferably in FI Credit Risk or Counterparty Credit Risk.
• Strong knowledge of financial and capital markets and Treasury related products, including OTC derivatives, and funded products, together with the associated documentation and key risk drivers.
• Strong understanding of ISDA documentation and netting and collateral enforceability, including experience negotiating ISDA/CSA terms and managing exposures in jurisdictions where netting enforceability is uncertain.
• Strong understanding of FI counterparty credit risk analysis and best practices (including Banks, Insurance Companies, and complex financial institutions)
• Proven ability to make sound autonomous credit decisions in higher-risk environments.
• Advanced knowledge of excel, PowerPoint and Word. Experience VBA, Power BI and Tableau would be an advantage.
• Excellent stakeholder management skills, as role involves working across various departments .
• Strong written and verbal communication skills and ability to explain complex issues clearly.
• Experience of the securitisation and structured finance market is desirable, but for the right candidate not essential

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).