Risk Management Specialist, Country Risk – Islamic Development Bank , Saudi Arabia

The role is responsible for conducting extensive research on country and political risk areas including but not limited to Country specific risk profile, outlook on global political risk and provide input for Underwriting process for making decisions, conducting country rating and review, and rating validation etc.
The position also requires undertaking regular sectorial review, monitoring and reporting of macro-economic developments in member countries as well as exposure countries. The function reports to the Manager of Risk Management Division.

Political Risk Review
• Provides inputs in the submission notes and respond to underwriting requests on country risk matters.
• Reviews and validates political risk analyses exercised by Underwriting.
• Provides inputs of country risk and observation for Technical Underwriting Committee (TUC) and other transactional review forum.
• Reviews and validates the treasury liquid fund investment submissions in relation to country risk and rating as per set internal risk management guidelines.
• Any other related job functions required by RMD and management.

Country Risk Research and Rating
• Undertakes research and specific analysis of Political Risk (PR) Breach of Contracts (BOC), War & Civil Disturbance (WCD), Currency Transfer Restriction (CTR) and Expropriation (EXP) in addition to credit enhancement – Non-honoring of Sovereign Obligation (NHSO) pertaining to Ultimate Risk Country (URC) of debtor/buyers including rating exercises based on the internal models.
• Conducts extensive research on the macroeconomic indicators and general economic environment, sectorial risks e.g. banking and corporate sectors- based on internal guidelines under the purview of Risk Management Framework including but not limited to the following:
o Prepares Country Risk Assessment (CRA) reports and Risk Management Perceptions (RMPs), update and maintain periodically and on need basis.
o Conducts periodic macro-review (at least once in a quarter) on the sectors and concentration of the economy and Government’s economic diversification program.
o Participates in periodic risk review and monitoring of exposure countries as required by Country Risk Framework under the purview of Risk Management Framework.
o Reviews country reports for any emerging and emergency situation or as required by the management.
o Be vigilant on the past experience pertains to the country, current and future outlook of relations with other MDBs in conducting country risk analysis.
o Reviews the general state of the money market/capital market parodically and on need basis.
o Reviews of inflation policy, current account status, public debt, import coverage, Growth at Risk (GaR), monetary and fiscal policy etc.
o Conducts regular review on foreign exchange reserve situation of the government, and in the domestic market currently, way out strategy of the government, sources of foreign exchange inflows to the country etc.
o Reviews the situation of the financial/banking sector and the contributing role of the banking sector including its regular health check etc.
o Regular checking of the latest AML/CFT rules and international body e.g. FATF etc. sanctions or restrictions.
o Keeps record of the latest PRI data on countries and rating changes.
o Records and fact-checks countries’ data on CTR, EXP, BOC and WCD including any sovereign default.
o Updates the information on regulatory changes and potential political influences on the policies that could affect the Corporation’s exposure, whether it is current or upcoming.
• In addition, the position is responsible for the following –
o Develops and implement the methodology for credit/sovereign rating of Countries.
o Undertakes to exercise rating of the countries (MCs and required exposure countries) as per internal rating models.
o Conducts regular review of country rating.
o Reviews periodically the country rating and report to the appropriate committee.
o Coordinates with third-party resources and economic intelligence agencies.
Country Risk Monitoring and Reporting
• Develops/prepares/reviews of the country/political risk related analytics/models for reporting and monitoring;
• Coordinates the preparation of management and board risk reports periodically in conjunction with other internal risk functions; and
• Monitors and reports the economic capital consumption /allocation and optimization program per country /sector etc.

Field of Study
Bachelor/Master’s degree in Economics/Development Economics (preferably econometrics major) is preferred. International relations/Risk Management/Diplomacy/ Statistics /Mathematics or related quantitative fields of Finance or equivalent degree may also apply.
Academic Qualifications and Relevant Experience

Qualification Level
Bachelor’s Degree
Master’s Degree
5-8 years
2 years

Nature of Experience:
At least 3 to 5 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.
Proven track records and experience in political /sovereign/country risk analysis, preferably in the aforesaid sectors.
Mastery in 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) or similar is preferred but not essential. Formal training or certificate on sovereign credit rating methodologies of rating agencies will be a plus.

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