Associate Risk Officer
- Location: London, England, United Kingdom
- Salary: Competitive
As part of the Corporate & Project Finance Credit Team, the Associate Risk Officer will work individually as well as alongside more experienced credit risk officers to analyse and appraise credit risks of EBRD's new and existing portfolio corporate and project finance debt transactions.The European Bank for Reconstruction and Development was founded in 1991 when communism was crumbling in Europe and ex-Soviet countries needed support to nurture a new private sector and democracy. Today we invest to help build market economies from central Europe to central Asia and the southern and eastern Mediterranean. We are now the largest single investor in our region. Owned by 65 countries and two intergovernmental institutions, we provide project financing for banks, industries and businesses. We also work with publicly owned companies to support privatisation, restructure state-owned firms and improve municipal services. Wherever we are active, we promote policies that bolster the business climate.
Office City: London
Division: Risk and Compliance Group
Contract Type: Short Term
Contract Length: 18 months
Posting End Date: 12 November 2017
Risk Management is the Bank's second line of defence responsible for independent identification, mitigation and reporting of risks.
The Associate Risk Officer through their experience in various forms of lending provides structuring advice and presents clear recommendations to his or her management as required in the Corporate & Project Finance Credit Risk team, the Operations Committee, the Small Business Investment Committee (SBIC) or engages in approval of projects together with the Banking department under Delegated Authority scheme, in the process addressing credit risk concerns, seeking appropriate risk/reward balance, while always seeking to minimise losses.
As part of the Corporate & Project Finance Credit Team, the Associate Risk Officer will work individually as well as alongside more experienced credit risk officers to analyse and appraise credit risks of EBRD's new and existing portfolio corporate and project finance debt transactions. As part of the credit review, the Associate Risk Officer identifies required due diligence, recommends appropriate risk mitigation measures and transaction structures, including security, applicable covenants, and pricing; advises bankers and the Bank's senior management to ensure that projects comply with the Bank's sound banking mandate. Under supervision of the Senior Risk Officer, the Associate Risk Officer reviews portfolio counterparties and projects, assigns and maintains credit ratings via regular reviews, communicates portfolio trends and lessons learned to management and peers for their strategic decision-making process and bottom-up stress-testing.
This is a permanent position based in EBRD's headquarters in London.
The Associate Risk Officer will report to, and work alongside a Senior Credit Officer in the following way, with a focus on financial analysis:
* Establish an independent and unbiased view on credit risks in projects proposed for approval by Banking to the Operations Committee / SBIC / Delegated Authority and make clear recommendations / approvals on each proposal.
* Analyse key credit risks of each proposal; advise on risk mitigation measures, structures, tenor, collateral, covenants and conditions precedent to the project teams and, via credit notes to the EBRD's senior management.
* Ensure projects comply with relevant risk guidelines, prudential limits, and assign ratings for probability of default and loss given default. Have ownership of Risk data in the assigned area of responsibility.
* 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.
* Exercise independent delegated authority (allocated subject to experience and seniority regarding portfolio actions (including certain waivers and amendments)), and recommendations to senior management on matters requiring higher level approval (including transfers to corporate recovery, provisions and more significant restructuring etc.).
* Carry out proactive and regularly monitoring of the assigned portfolio counterparties, countries and market developments. Actively and constructively engages with Banking and other relevant staff to ensure adequacy of front-line monitoring and coach bankers when appropriate (including through Banking staff rotation).
* In liaison with Risk Policy and Analytics and other Credit teams prepare sector portfolio reviews and provide input to sector portfolio stress-tests. Collaborate with other members of staff; especially in the Banking Department, Finance, the Office of the General Counsel and the Office of the Chief Economist to ensure effective cross-departmental and business functioning.
* Contribute to and participate in various executive Bank committees, including the Bank's Operations Committee, SBIC, RiskCom etc.
* 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.
* Participate and contribute positively to various initiatives within Risk Management or bank-wide.
* Amongst peers, be an agent of credit culture dissemination.
Knowledge, Skills, Experience & Qualifications
* Advanced degree in finance, business, economics or equivalent on the job training.
* Extensive experience of analysing high yield loans and other financial instruments.
* First-hand knowledge of operating in emerging markets, including CIS, CEE and SEMED.
* The Associate Risk Officer is expected to be, commensurate with their experience, authoritative and influential, provide well-judged advice and guidance across the entire business.
* Ability to deliver clear conclusions in the context of large volumes and tight timescales.
* Strong written and spoken communication skills and excellent Excel knowledge.
* Ability to analyse and size up projects rapidly and to make confident recommendations.
* Ability to build rapport and understanding with bankers and gain their respect by presenting sound arguments based on evidence.
* Ability to deliver information in the right format to differing groups by having effective writing and verbal skills.
The Associate Risk Officer is expected to face frequent challenges in his/her role including:
* Conflicting stakeholders demands.
* Market volatility and economic/political uncertainty.
* Lack of reliable information and uneven quality standards.
* Tight time schedules.
* Effective communication with resident offices across different time zones.
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.
• Advanced degree in finance, business, economics or equivalent on the job training.
• Extensive experience of analysing high yield loans and other financial instruments.
• First-hand knowledge of operating in emerging markets, including CIS, CEE and SEMED.
• The Associate Risk Officer is expected to be, commensurate with their experience, authoritative and influential, provide well-judged advice and guidance across the entire business.
• Ability to deliver clear conclusions in the context of large volumes and tight timescales.
• Strong written and spoken communication skills and excellent Excel knowledge.
• Ability to analyse and size up projects rapidly and to make confident recommendations.
• Ability to build rapport and understanding with bankers and gain their respect by presenting sound arguments based on evidence.
• Ability to deliver information in the right format to differing groups by having effective writing and verbal skills.