Reference Number IDB3358
Business Unit: ICIEC
Division: Risk Management Division- ICIEC
Department: Not Applicable
Country: Saudi Arabia
Location: Saudi Arabia - Jeddah
Closing date: 01-Aug-2024
JOB PURPOSE:
1. The role involves conducting extensive research on the economic situations and sustainability risk areas of various countries. This includes, but is not limited to, analyzing country-specific risk profiles, sector-related risks, climate and green investments/projects, ESG (Environmental, Social, and Governance) criteria, and the Sustainable Development Goals (SDGs). The position also requires comprehensive research and reports in these areas.
2. Additionally, the role entails performing regular sectoral reviews, monitoring, and reporting on macroeconomic developments in member states and other countries with ICIEC exposure. It includes assessing obligors' perspectives, particularly regarding ESG parameters, in accordance with ICIEC and IsDB guidelines.
3. The position reports to the Manager of the Risk Management Division (RMD).
KEY RESPONSIBILITIES:
Political Risk (PR) Review
Contribution to Credit Memo:
1. Contributes to underwriting submission notes (credit memo) as applicable and responds to underwriting requests related to country risk, sustainability, and SDG matters.
Political Risk Analysis:
Reviews and validates political risk analyses conducted by the Underwriting team.
Committee Inputs:
Provides insights on country and sustainability risks for the Technical Underwriting Committee and other transaction review forums.
Investment Review:
Reviews and validates fund investment notes from the treasury concerning country risk, sustainability, and country ratings.
Additional Duties:
Reviews/contributes to preparation of Development Effectiveness Report or similar others from sustainability perspectives and perform other related job functions as required by RMD and Management.
Country Risk and Sustainability Research
PR Profile Research:
1. Conducts research and provide PR profiles related risk perils-Non Honoring of Sovereign Financial Obligations(NHSFO), Breach of Contract (BOC), War & Civil Disturbance(WCD), Currency Transfer Restriction(CTR) and Expropriation(EXP) for debtor/buyers’ countries. Update country risk and economic sustainability reports periodically or upon request from Underwriting, Business Development, Treasury, and Management.
Macroeconomic Research:
1. Performs extensive research on macroeconomic indicators, sectorial risk, SDGs, financial institutions, projects, and corporate risks according to internal Risk Management Framework guidelines. Tasks include:
2. Prepares and maintains Country Risk Assessment (CRA) reports and Risk Management Perceptions (RMPs).
3. Quarterly reviews of economic sectors, government diversification programs, and exposure countries.
4. Participates in country rating exercises and providing country reports.
5. Monitors emerging risks, emergency situations, and regulatory changes affecting the Corporation’s exposure.
6. Keeps track of interactions with other Multilateral Development Banks (MDBs).
7. Regularly reviews money markets, inflation policies, public debt, and foreign exchange reserves.
8. Assesses the health of the financial/banking sector.
9. Updates on Anti-Money Laundering (AML)/Combating the Financing of Terrorism (CFT) regulations and international sanctions (e.g., Financial Action Taskforce-FATF).
10. Monitors PR perils data and recommends appropriate actions to the Manager/Management.
11. Aligns projects/transactions with member states development agendas.
12. Provides insights into the Corporation's sustainability and resilience.
13. Integrates sustainability perspectives and ESG considerations into product development and risk management submissions.
14. Regularly consults with subscribed vendors for updated PR data.
15. Conducts comprehensive research on climate change, green financing, ESG, SDGs, and sustainability, producing periodic reports.
16. Acts as the focal point for climate, ESG, SDGs, and sustainability from a risk perspective.
Rating and Risk Models
Country and Obligor Ratings:
Performs ratings of countries (member states and other exposure countries) and financial institutions, obligors/buyers as per internal rating models.
Rating Reviews:
Participates in regular country rating reviews and provides accurate and timely information related to country risk ratings to support Underwriting and Treasury.
Coordination with External IsDBG:
Collaborates with IsDBG relevant departments, third-party resources and economic intelligence agencies.
Contribution to Risk Models:
Provide inputs and contribute to economic capital modeling, stress testing, and risk parameters from a country research and sustainability perspective, both quantitatively and qualitatively.
Monitoring and Reporting:
1. Provides input to review country ratings and report findings to the Risk Management Committee (RMC).
2. Develops, prepares, and reviews analytics related to country/political risk and sustainability for reporting and monitoring purposes.
3. Coordinates the preparation of management and Audit and Risk Committee (ARC) risk reports in conjunction with other internal risk functions.
4. Monitors and reports on economic capital consumption and stress test results, allocation, and optimization programs by country and sector.
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Field of Study
Degree in economics/development economics (preferably econometrics major). International relations/Diplomacy/Statistics/Mathematics or related quantitative fields of Finance or equivalent degree may also apply.
Academic Qualifications and Relevant Experience
Qualification Level Experience
Bachelor’s Degree 9-12 years
Master’s Degree 7 years
Doctorate 4 years
Nature of Experience
1. At least 9 years’ experience in core economics/economic research/economic analysis/development economics/country economic relations fields preferably in MDBs/international development agencies/government sectors/central banks or large international financial institutions, Risk management experience will be an added advantage.
2. Proven track records and experience in political /sovereign/country risk/sustainability analysis, preferably in the aforesaid sectors.
3. Mastery of the global/regional geo-political environment, foreign relations as well as knowledge of government fiscal and monetary policies.
Professional Certifications (as applicable)
Professional certification e.g., Financial Risk Manager (FRM)/Professional Risk Manager (PRM), IRM certification, CFA, Risk Management Assurance (CRMA), sustainability-related certificate or similar is preferred but not essential.
Business Language Skills
Good command of written and spoken English essential, additional languages (Arabic, French) are an added advantage.
KEY PERFORMENCE INDICATORS:
1. Delivery of country risk and rating jobs
2. Timely delivery of risk solutions to internal stakeholders
3. Quality and Accuracy Reports Prepared
4. Timely submission of risk reports
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