Senior Risk Specialist

World Bank Group•Washington, DC

3d•Onsite

About The Position

The Senior Risk Specialist (GG) is a high-impact, mid-career professional role that sits at the center of the FRLD's institutional architecture. The post holder will serve as the Secretariat's primary authority on risk management, leading the end-to-end design, implementation, and continuous improvement of the FRLD's Risk Management Framework. The role demands sophisticated judgment, a proven track record in multilateral or international development finance settings, and the ability to translate complex risk considerations into clear, actionable policy guidance. The Senior Risk Specialist will report to the Program Manager for Board Affairs and Governance and will collaborate closely with other Program Managers and the wider Secretariat team to ensure full alignment with the FRLD's mandate and institutional processes.

Requirements

An advanced degree (Master's or equivalent) in risk management, finance, public policy, international development, law, or a closely related field.
A minimum of 8 years of relevant professional experience, with a demonstrated track record in developing or implementing risk management frameworks for multilateral organizations, development finance institutions, or international climate funds.
Deep knowledge of risk management methodologies, standards, and best practices applicable to multilateral financial mechanisms; familiarity with Financial Intermediary Fund (FIF) governance and operational modalities.
Excellent analytical, writing, and communication skills in English, with a demonstrated ability to translate complex technical content into accessible policy documents for non-specialist audiences, including Board members and senior management.
Strong interpersonal and facilitation skills, with a proven ability to build consensus across diverse institutional actors, including government representatives, civil society, and international organizations.

Nice To Haves

Experience with climate finance, loss and damage policy, or UNFCCC processes is a strong advantage.

Responsibilities

Draft, socialize, and finalize the FRLD’s risk related policies and frameworks such as the Risk Management Framework Policy, Risk Appetite Statement, and associated standards, including risk taxonomy, scoring methodology, reporting dashboards, issue management, and incident response protocols.
Ensure the Framework is fit-for-purpose for a multilateral climate fund, drawing on international best practices while accounting for FRLD's unique mandate and stakeholder environment.
Support the Board and its relevant committees in fulfilling their risk oversight responsibilities.
Coordinate risk reviews and prepare Board-facing materials on risk thresholds, exceptions, and escalation decisions.
Maintain a risk register and lead risk control self-assessments (RCSAs) across the Secretariat.
Identify and assess a broad spectrum of risks, including strategic, operational, financial, fiduciary, procurement, safeguard/ESG, reputational, programmatic, and climate-related risks.
Evaluate counterparty risk and residual risk exposure against agreed thresholds.
Provide timely risk intelligence to senior management and the Board.
Design and oversee risk mitigation and action plans, covering avoidance, reduction, sharing/transfer (e.g., insurance, guarantees, contingency instruments), and acceptance strategies that are compatible with FRLD's objectives.
Advise on the adequacy and sequencing of mitigation measures.
Working with the Programming and Country Engagement team, embed risk reviews and approval gates into the project cycle.
Advise the Secretariat on risk-informed design and ensure that risk mitigation measures are assessed, sequenced, and monitored.
Contribute substantive risk inputs to results frameworks and monitoring and evaluation plans.
Develop risk metrics and dashboards; produce periodic risk reports for management and the Board.
Establish and operate early warning and escalation criteria; track risk breaches and corrective actions through to resolution.
Engage with the World Bank, governments, accredited entities, and observer constituencies to maintain situational awareness of the evolving risk landscape.
Deliver training and guidance to Secretariat staff; convene and facilitate relevant communities of practice.