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Principal, Risk Officer (Equity)

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Posting Date: 25-Feb-2019

Location: London, GB

Company: EBRD

Requisition ID 14806
Office Country United Kingdom
Office City London
Division Risk and Compliance Group
Dept. / Bus. Group Risk Management
Business Unit Equity Risk Management
Contract Type Regular
Contract Length
Posting End Date 25/03/2019 

 

Risk Management is the Bank’s second line of defence, which is responsible for the independent identification, reporting and mitigation of credit, equity and market risks. The Principal Risk Manager provides advice to Banking and presents recommendations to the Operations Committee, Equity Committee, Small Business Investment Committee (SBIC) and the Risk Committee.

 

The Principal Risk Officer will independently analyse and appraise the risks of EBRD’s new and existing portfolio equity, quasi-equity and mezzanine transactions. Identify required due diligence, validate structure and pricing, value creation plans, exit strategy and market risk mitigation. Challenge bankers and the Bank’s Committees to ensure that banking projects comply with the Bank’s sound banking mandate. The Principal Risk Officer reviews portfolio projects, validates fair value assessments and communicates trends in the portfolio and lessons learned to management and peers for project selection, broader strategic decision-making and bottom-up stress-testing.

 

Risk Management is the Bank’s second line of defence, which is responsible for the independent identification, reporting and mitigation of credit, equity and market risks. The Principal Risk Manager provides advice to Banking and presents recommendations to the Operations Committee, Equity Committee, Small Business Investment Committee (SBIC) and the Risk Committee.

 

Accountabilities & Responsibilities

 

The Principal Risk Officer will work with varying levels of supervision depending on his/her experience and the relevant task on the following:

  • Establish an independent and unbiased view on equity proposals presented to the Operations Committee / SBIC and make clear recommendations on each proposal. Prepare and communicate equity risk notes at each stage of approval.
  • Analyse the equity case and structure, entry valuations, value creation plan and realism of exit assumptions. Review integrity and anti-money laundering issues to ensure compliance with internal guidelines and advise on referral to the Office of the Chief Compliance Officer as required. Appraise the validity and reliability of key assumptions of each proposal, including via involvement in the commissioning and review of independent due diligence and travel.
  • Ensure projects comply with relevant valuation methodology and guidelines. Have the ownership of Risk data in the area of responsibility.
  • Exercise independent delegated authority regarding portfolio actions (including certain waivers and amendments), and recommendations to senior management on matters requiring higher level approval (including capital increases, exits, transfers to corporate recovery, etc.). 
  • Lead proactive and regularly monitoring of the assigned portfolio counterparties, product and market developments. Actively and constructively engage with Banking and other relevant staff to ensure adequacy of front-line monitoring, coach Banking when appropriate (including through their rotation in Equity Risk Management).
  • In liaison with other Risk teams lead equity portfolio reviews and provide input to equity portfolio stress-tests. Collaborate with other members of staff; especially in the Banking Department, Finance, the Office of the General Counsel, the Office of the Chief Economist and Banking Equity to ensure effective cross-departmental and business functioning.
  • Participate in various executive Bank committees - including the Operations Committee, SBIC, the Equity Committee and the Risk Committee.
  • Participate and contribute positively to various initiatives within Risk Management or bank-wide. 
  • Be an agent of commercial equity culture dissemination in the Bank.

 

Knowledge, Skills, Experience & Qualifications

 

  • Strong influencing skills in challenging Banking’s equity strategy, asset selection, structuring and portfolio management.
  • Substantial experience, or within six months of starting the job good knowledge of, equity analysis, relevant markets and best practice. 
  • Knowledge of financial institutions and/or funds sector.
  • Ability to serve as an equity risk expert for equity investments including through provision of operational guidelines to Banking teams. 
  • Knowledge of emerging markets, ideally CIS, CEE and SEMED.
  • Capability of delivering clear conclusions in the context of large volumes and tight timescales. Proven skills in decision-making capacity in credit and equity risk in high risk environments.
  • Strong written and spoken communication skills and superior financial analysis skills.
  • Advanced degree in finance, business, economics or equivalent on the job training.

 

Challenges

 

The Principal Risk Manager is expected to face frequent challenges in his/her role including:

  • Conflicting stakeholder demands.
  • Market volatility and economic/political uncertainty.
  • Lack of reliable information and uneven quality standards.
  • Tight time schedules.
  • Effective communication with Banking across different time zones and multi-dimensional functional matrix structure.

 

Behaviours

 

The Principal Risk Manager is expected to be influential, provide well-judged advice and guidance across the entire business:

  • Ability to analyse and size up projects rapidly and to make convincing recommendations.
  • Ability to build rapport and understanding with bankers and gain their respect by presenting sound arguments based on evidence.
  • Ability to deliver output in the right format to differing groups by having effective writing and verbal skills (and through clarification of scope of assignments, where required).
  • Willingness to develop any equity technical skills required through self-study.
  • Willingness to find and share relevant technical knowledge and business contacts with colleagues.
  • Solution-orientated approach and a collaborative working style, ability to understand and awareness of the perspectives of others.

 

 

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.


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