Manager, Sovereign Risk

World Bank Group•Washington, DC

10d•Onsite

About The Position

The World Bank Group (WBG) Chief Risk Officer (CRO) Vice Presidency is responsible for Group-wide institutional risk oversight, including risk policies, guidelines, assessment, and reporting. The Credit Risk Department (CROCR) within the CRO VPU provides country risk ratings for all WBG entities, banking sector country risk ratings, and corporate sector country risk ratings for IFC. It ensures the World Bank's credit risk exposure aligns with stakeholder risk appetite and maintains the triple-A credit rating requirements for IBRD and IDA. The department manages country credit risks in IBRD and IDA's loan and guarantee portfolios, oversees Capital Adequacy Frameworks and prudential country credit risk management policies, and develops risk-transfer mechanisms. The Sovereign Risk Team within the department assesses and monitors individual country risks and global/regional development trends affecting WBG countries.

Requirements

Master’s or PhD degree in Economics or another relevant field.
A minimum of 12 years of directly relevant professional experience.
Seasoned macro economist with broad and deep experience with developing country economics and credit risk analysis.
Deep understanding of factors affecting World Bank client countries’ country credit risks, including IBRD and IDA’s Preferred Creditor Status.
Ability to guide staff on macroeconomic modeling work, including on stress testing.
Familiarity with the World Bank’s country engagement model and financial instruments.
Knowledge of sovereign debt issues, including debt restructuring.
Conceptual and strategic thinker who also grasps technical details and nuances.
Ability to develop sound and practical methodologies and policy frameworks.
Excellent communication skills: ability to write and speak clearly, succinctly, and convincingly for various audiences.
Strong interpersonal and diplomacy skills: ability to build effective partnerships with a wide range of internal and external stakeholders, including resolving conflicting views and forging consensus.
Strong leadership, managerial, and organizational skills.
Ability to effectively plan and allocate resources to deliver team’s work programs in a timely manner with high quality, including responding to unexpected urgent tasks.
Commitment to innovations and process improvement, including utilizing the latest new technologies.
Interested and skilled in people management and building a high-performing team.
Excellent work ethic and results focus, with a “can do” attitude.

Nice To Haves

Previous experience working in the World Bank or another MDB’s country operations is desirable.

Responsibilities

Oversee the Sovereign Risk Team and its work program, reporting to the Director of the Credit Risk Department.
Supervise a team of professional staff.
Lead the department’s country risk rating work and ensure high-quality delivery, including assessing country credit risks and assigning internal credit ratings.
Ensure rating methodologies are robust, clear, up-to-date, and meet all WBG entities’ requirements.
Oversee country rating processes, ensuring high-quality analysis and consistent application of methodologies.
Manage rating group discussions and derivation of final rating recommendations.
Engage with external auditors on country risk ratings.
Improve the efficiency and effectiveness of the country risk rating process.
Monitor global and regional development trends impacting country risks, including conducting stress tests and assessing implications for country risk ratings.
Monitor countries vulnerable to crises, including payment arrears to the World Bank.
Serve as Secretariat to the Short-Term Risk Monitoring Group meetings and oversee report preparation.
Participate in Paris Club meetings and brief members on economic situations in countries of interest.
Oversee country creditworthiness assessments and ensure robust methodologies and processes.
Contribute to IBRD Country Exposure Management processes, assessing country limits reallocation requests.
Support country teams in managing country exposures.
Prepare high-quality briefings for Senior Management.
Develop effective dashboards, reports, and tools.
Contribute to other department, VPU, and corporate initiatives and goals.
Model exemplary WBG leadership values and managerial behavior.
Drive and encourage technical excellence within the team by creating an environment of learning and innovation.
Coordinate and support management in developing and implementing staffing strategies, staff learning and development, career progression, and talent and performance management.