Chief Risk Officer

The International Fund for Agricultural Development (IFAD) is an international financial institution and a specialized United Nations agency dedicated to eradicating rural poverty and hunger. It does so by investing in rural people. IFAD finances programmes and projects that increase agricultural productivity and raise rural incomes, and advocates at the local, national and international level for policies that contribute to rural transformation. 

The Office of Enterprise Risk Management (RMO), comprising two main units, the Operational Risk and Programme Delivery Risk Management Unit and the Financial Risk management Unit, is a dynamic, strategic and responsive service provider, leading IFAD's second line of defence by fully supporting the management of all risks across the organization. The RMO implements, monitors, and maintains an efficient and effective Enterprise Risk Management programme, supporting IFAD's strategic vision and mandate. The RMO aims to enable better informed risk taking by using consistent risk management best practices across the organization to achieve the Fund's objectives in the long-term and deliver on its development commitments. The Office is responsible for oversight and monitoring of risk exposures and enabling clear reporting of IFAD's risk profile.

The mission of RMO is to monitor IFAD’s risk environment across all of its risk generating areas and oversee the design and implementation of the ERMF. RMO helps IFAD accomplish its Strategic Framework by bringing a consistent approach to monitoring and improving the risk Management process. RMO supports IFAD’s strategic objectives and sustainable financial position from a risk perspective, especially the commitment to defend IFAD’s credit rating.

The Chief Risk Officer reports directly to the President

Chief Risk Officers are responsible for managing a division or office with a focus on strategic leadership, innovation and management. Most typically as a member of a departmental management team, they are responsible for managing and supervising the delivery of a division's programme of work within an allocated budget.

As the Chief Risk Officer, the incumbent supervises the risk managers and has management responsibility for the risk management teams. The incumbent serves as the senior executive in charge of the second-line-of-defence risk team and oversees risk management for all Level 1 risk domains, including strategic, financial, programme delivery operational, and cross-cutting risks such as reputational and legal. The incumbent has the independence and stature to challenge first-line risk management.
 
The Chief Risk Officer is a member of the Executive Management Team with a corporate responsibility for the Fund.

1. STRATEGIC PROGRAMME DIRECTION AND IFAD’S MISSION: The Chief Risk Officer (CRO) leads the work of IFAD’s Office of Enterprise Risk Management by providing strategic leadership and guidance to staff on IFAD’s mandate.  The CRO also guides the direction in the development and interpretation of major policies, regulations and rules, and systems that govern the work of a division and ensure they support divisional goals and objectives within the overall Fund mandates and strategies. They also serve as trusted business/programme advisors with a significant role in authoritative policy advice within the Fund at the senior management level as well as in policy dialogue in their representational activities. 

2. ORGANIZATIONAL CHANGE AND POLICY STRATEGY: The Chief Risk Officer acts as a champion for change, promoting and endorsing solutions to intractable challenges and has an entrepreneurial and creative approach to developing new, innovative ideas that will stretch the organization and push the boundaries within the industry. They encourage evidence-based knowledge generation and its dissemination in all activities and contribute to resource mobilization activities and to evidence-based policy making at the international, national, and local level to advocate for the extreme poor and food insecure in rural areas. The CRO advocates the Organization’s policy positions and expands the Organization’s external visibility and positioning. In order to promote organizational change and keep abreast of technology advancement they set clear priorities for the Office and lead by example.

3. CORPORATE DEVELOPMENT AND RESULTS BASED MANAGEMENT: The Chief Risk Officer leads and contributes to the corporate development effectiveness agenda and plans, monitors and leads IFAD’s collaboration with its institutional partners and member countries on resource mobilization and corporate partnerships, in accordance with agreed priorities, approved programme/budgets, strategic objectives and corporate policies. They promote the development of rigorous evaluations, reviews, analysis, and lessons to inform IFAD’s lending and non-lending portfolio (including country programme strategies, policy engagement initiatives, etc.), particularly on issues surrounding food security, agriculture, and rural development. The CRO oversees the development and implementation of the annual programme and budget of the Office in the context of IFAD’s Strategic Framework and IFAD Replenishment Commitments and provides guidance in the assessment and reporting of corporate impacts of IFAD’s funded project. 

4. REPRESENTATION AND EXTERNAL RELATIONS: The Chief Risk Officer develops and maintains political and business relationships with key donor Member States and strong collaboration with strategic partner organisations, including borrowers, bilateral and multilateral development agencies, UN agencies, funds and programmes, international financial institutions (IFIs), non-governmental organizations and academic institutions, which among other partnership priorities, can help drive mobilisation of resources from the financial sector and private sector as desirable. CROs serve as designated representatives of the Fund in official United Nations committees and networks, and in IFls, multilateral and bilateral meetings, symposia, fora and Global conferences upon request of the President, and build organizational networks with peers in major private, public and international institutions. 

5. MANAGEMENT OF RESOURCES: Chief Risk Officers are responsible for ensuring the transparent, equitable, and efficient management of IFAD's resources, including human, financial, and material resources. This includes managing staff through workforce planning, recruitment, performance management, and career development. They are also responsible for managing the division's budget, ensuring accountability and fiduciary integrity. Additionally, they are responsible for managing material resources and promoting knowledge and content management to achieve innovative outcomes and cost-effective processes. Chief Risk Officers also leverage information technology to improve business results, reporting processes, and client services. 

The key responsibilities of the Chief Risk Officer include:

• Providing intellectual and technical leadership in the area of risk and overall control of the delivery of risk management-related activities.
• Leading the second-line-of-defence independent risk management team, which assesses aggregate risks being assumed by the Fund, challenges the effectiveness of first-line controls, enables the monitoring of such controls, and reports independently to the President and Vice President on aggregate levels of risk across IFAD.
• Ensuring the development and implementation of an adequate Enterprise Risk Management Framework and other risk-related policies, frameworks, and initiatives across the Fund. Assumes responsibility for the annual review and maintenance of the Enterprise Risk Management (ERM) policy.
• Overseeing the risk management programme and practices across the organization. The incumbent is also responsible for the integration of risk concepts and priorities into strategic planning.
• Strengthening IFAD’s overall risk culture by fostering accountability in the implementation of risk management strategies, risk identification and mitigation activities, by ensuring regular ERM training and consistent ERM communications. Fosters appropriate risk management frameworks to support innovative solutions and new business opportunities.
• Ensuring, together with the other internal stakeholders, the defence and improvement of IFAD’s Credit Rating (currently AA+).
• Championing discussions and dialogues on risk-related matters with internal and external stakeholders, including credit rating agencies and fostering an environment of measured risk taking.
• Taking responsibility for and authorizing any changes to the enterprise risk taxonomy documents.
• Overseeing aggregate risk exposures and progress of mitigation efforts against IFAD's primary risks, enabling clear reporting of IFAD’s aggregate risk profile against Executive Board- approved appetite levels, in the context of IFAD's strategic objectives.
• Managing the development and implementation of the division’s annual work programme and budget.
• Leading and managing the risk team within the division and closely collaborating with other relevant teams, providing oversight of and coordination on risk matters across all risk domains.

Chief Risk Officers establish IFAD's priorities and provide leadership to division-level programme and operational management activities, ensuring a results-based approach to meeting assigned goals and objectives.

Leadership activities include the optimal utilization of human, financial, technology, and material resources for greater efficiency and effectiveness.

The Chief Risk Officer is responsible for IFAD's efficient enterprise risk management, providing strategic risk management leadership and assisting the President and Vice President.

The Chief Risk Officer works with the executive management team to establish risk management goals and strategies, overseeing their implementation to ensure IFAD's sustainability in delivering risk management services in support of IFAD-funded programs and projects. 

Chief Risk Officers are responsible for building and maintaining strong working relationships both within and outside of IFAD. Internally, they provide strategic advice to senior management and collaborate with other divisions to ensure effective coordination of programme planning and activities. Externally, they develop strategic partnerships with a range of institutions, including borrowers, development agencies, UN agencies, and non-governmental organizations, for the purpose of programme cooperation, knowledge sharing, policy dialogue, and resource mobilization. Chief Risk Officers also represent IFAD in official committees, meetings, and conferences, and build organizational networks with peers in major private, public, and international financial institutions. 

As a member of IFAD’s ’s senior management, the Chief Risk Officer, supports the President and Vice President in providing vision and risk management oversight, as well as risk reporting to governing bodies.

Organizational Competencies:
Level 2:

• Building relationships and partnerships - Builds and maintains strategic partnerships internally and externally
• Communicating and negotiating - Acquires & uses a wide range of communication styles & skills
• Demonstrating leadership - Leads by example; initiates and supports change
• Focusing on clients - Contributes to a client-focused culture
• Learning, sharing knowledge and innovating - Challenges, innovates & contributes to learning culture
• Managing performance and developing staff - Manages wider teams with greater impact on others and on the organization
• Managing time, resources and information - Coordinates wider use of time, information and/or resources
• Problem-solving and decision-making - Solves complex problems and makes decisions that have wider corporate impact
• Strategic thinking and organizational development - Staff in management and/or strategic leadership roles
• Team working - Fosters a cohesive team environment

Education:

• Level - Advanced university degree (Master's or equivalent) from an accredited institution listed on https://www.whed.net/home.php in a job related field (*). A PhD would be an asset.
• Areas: Finance, Accounting, Business Management, Risk Management, Banking Economics, or other relevant areas. 
• Risk management – relevant certifications (IIA, ACFE, CFA) would be an asset.

(*) Note:  For internal candidates, this requirement will be assessed in line with the provisions set forth in the IFAD’s Human Resources Implementing Procedures. 

Experience:

• At least 15 years of substantive relevant experience at an international level in an institution, which could include multilateral development banks and/or international financial institutions, UN agencies or other development finance-related organizations.
• A thorough understanding of the risk landscape for International Financial Institutions (IFls) and Multilteral Development Banks (MDBs).
• Demonstrated leadership experience with strategic vision and proven skills to manage a complex organization with staff of diverse cultural backgrounds in multiple locations. 
• Extensive and proven managerial experience with a focus on people management. 
• Progressively responsible management experience in senior level positions.

Languages:
Required: English (4 - Excellent)
Desirable: French, Spanish and/or Arabic (3 – Good) 

Skills:

• IFAD governance & mandate: In depth knowledge of IFAD`s governance structure, mandate, strategic priorities and technical work
• IFAD partners: Knowledge of IFAD's partners' functioning and mandate, such as the public sector (e.g. governments and policy, institutions and system), non-state actors (NGOs, CSOs, Foundations, etc.) and private sector actors
• Strategy implementation: Ability to lead and manage the development and implementation of medium to longer-term strategies for IFAD / for respective divisions
• Policy dialogue: Know-how in the representation of IFAD as a trusted and strategic partner, advocating and promoting IFAD's mandate and vision; effective consultations with IFAD counterparts - like ministries and governmental bodies at all administrative levels, donors, civil society
• Change management: Role modelling, anticipation of key risks & conflicts and formulation of contingency plans/solutions, action-oriented
• Confidentiality & Discretion: Establishes self and division as trusted advisor to internal stakeholders by maintaining high level of discretion and confidentiality in assignments; demonstrates sound judgement when dealing with sensitive and/or confidential matters; drives good governance and is a "Culture Carrier" demonstrating IFAD institutional conscience through his/her work.
• Corporate approach: Ability to bring in corporate vision and priorities into one's area of work (e.g. budgeting going beyond simple budgetary considerations, taking into account strategic priorities)
• Integrity and ethics: Strong emphasis on acting with honesty, not tolerating unethical behaviour, demonstrating equity, impartiality and sensitivity in exercising authority and interacting with staff, and other  stakeholders. Conduct must be guided by IFAD core values, the Code of conduct and a high sense of ethics.
• Political acumen: Ability to conduct sound political analysis and understand complex environments, providing options and advice
• Specialized communication skills: Ability to negotiate on behalf of IFAD and drive for creative and pragmatic solutions in complex negotiations with key partners, both public and private sector
• Evidence-based policy: Know-how in the formulation of concrete and actionable policy recommendations based on hard evidence (going beyond simple data interpretation)

Position Specific Skills:

• Group thought leader, sought out by others and providing mentorship and effective guidance to others; ability to build trust, inside and outside the organization by acting as a role model for IFAD's core values and competencies, and to provide a clear sense of direction, mentorship and effective guidance to the team, strategizing the IFAD's goals, giving the vision, empowering the team and ensuring a positive environment for all. 
• Risk & compliance: Know-how in asset liability management, risk reporting, capital adequacy, quality assurance and compliance (e.g. Anti-money laundering (AML), Know your customer (KYC) processes), etc.
• Risk management (e.g. reputational): Identification and assessment of potential liabilities and risks in IFAD's activities, particularly vis-à-vis third parties; ability to handle risks via contingency and mitigation strategies.

Applicants should note that IFAD staff members are international civil servants subject to the authority of the President of IFAD. In accordance with IFAD's Human Resources Policy, the President can decide to assign them to any of the activities of the Fund. All International Professional staff members are required to be geographically mobile and positions in the professional category are subject to changes in location at any time in line with strategic priorities and reform initiatives in IFAD.

In accordance with IFAD’s provisions, all new staff members will normally be placed at the first step in the grade level for which they have been selected. For information on IFAD’s remuneration package, please visit IFAD’s compensation and benefits page on our website. Applicants are invited to use the ICSC compensation calculator to estimate the salary and benefit entitlements.  See here.

Candidates may be required to take a written test and to deliver a presentation as well as participate in interviews.

In the interest of making most cost-effective use of funds and resources, we are only able to respond to applicants who are short-listed for interview. Candidates who do not receive any feedback within three months should consider their application unsuccessful.

IFAD is an Equal Opportunity Employer and does not discriminate on the basis of ethnic, social or political background, colour, nationality, religion, age, gender, disability, marital status, family size or sexual orientation in line with its IFAD Diversity, Equity and Inclusion (DEI) Strategy and IFAD policy to preventing and responding to sexual harassment, sexual exploitation and abuse

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