Associate Risk Management Analyst | Asian Development Bank

Associate Risk Management Analyst

Overview

Asian Development Bank (ADB) is an international development finance institution headquartered in Manila, Philippines and is composed of 67 members, 48 of which are from the Asia and Pacific region. ADB's mission is to reduce poverty and promote sustainable economic growth in the region. ADB's main instruments for helping its developing member countries are policy dialogue, loans, equity investments, guarantees, grants, and technical assistance.

ADB only hires nationals of its 67 member countries.

The position is assigned in the Treasury and Operational Risk Unit (RMTO) within the Office of Risk Management (ORM). ORM is responsible for ensuring that ADB's goal of poverty alleviation is sustainable through (i) safeguarding ADB's rating, (ii) advising Board and Management on risk issues, and (iii) promoting a strong risk culture.

RMTO is responsible for (1) the proper management of market and treasury credit risk exposures in ADB; (2) monitoring and measuring the performance of ADB's internally and externally managed investment portfolios; and (3) performing independent middle-office functions of derivative transaction confirmation, position valuation/analysis, and compliance monitoring. RMTO also supports ADB in the management of operational risks through risk identification, measurement, monitoring and reporting.

To view ADB Organizational Chart, please click here.

Job Purpose

The Associate Risk Management Analyst provides technical and operational support in the derivatives collateral management operations of ADB, and the valuation of ADB's borrowing and derivatives portfolios, as well as perform tasks related to counterparty risk monitoring and reporting. The incumbent will report to designated International Staff and senior National Staff.

Responsibilities

  • Assist in providing counterparty derivative valuations for purposes of ADB's collateral management operations. Participate in the regular service reviews with the collateral manager and custodians.
  • Assist in monitoring the various collateral activities as undertaken by the external collateral manager and custodians, including: ADB's collateral calls with counterparties; exchange of collateral; monitoring collateral types and positions; and valuation differences between counterparties and ADB, among others. Prepare relevant valuation, collateral and exposure related reports.
  • Monitor call disputes, valuation reconciliation and failed settlements to help ensure accurate and timely collateralization of ADB's derivative exposures. Maintain a record of operational issues and problems for further resolution.
  • Perform periodic calculation of interest accrual income on cash collateral and prepares invoices on collateral management and custody fees. Assist in coordinating with Treasury for the interest income remittances from and payment of management and custody fees to the collateral manager and/or custodians.
  • Act as one of the focal points of contact in communicating with the collateral manager, collateral custodians and CSA swap counterparties for matters related to the collateral management operations of ADB.
  • Assist in facilitating collateral management system enhancements or migrations implemented by collateral managers and custodians. Perform user testing and reporting validation to ensure changes are properly managed.
  • Provide support in implementing the daily mark-to-market of ADB's derivatives portfolio. Provide operational support in setting up new structured products and exotic derivatives in the valuation and risk management systems.
  • Perform new trade affirmations with derivative counterparties. Prepare necessary documents to facilitate the review of long form confirmations.
  • Assist in facilitating periodic attestation exercises, compliance testing and audits as undertaken by the Controllers team and auditors (internal and external).
  • Assist in coordinating with the other departments/divisions (CTAC, OGC, OAG, TDFD, and TDID) on matters related to swaps and bond valuation and collateral management.

Qualifications

Relevant Experience & Requirements

  • Bachelor's degree in Finance, Mathematics or Statistics; preferably with risk management designation.
  • At least 5 years of experience in Treasury or Risk Management with at least 3 years of experience in counterparty risk/derivatives valuation/trading/risk management or derivative related technology fields.
  • Good knowledge of relevant derivative products, particularly, swap, options and other derivative structures.
  • Solid numerical ability and able to understand financial models for valuation.
  • Good computer skills with sound knowledge of spreadsheets, data functions and macros. Programming experience relating to financial instruments is preferred.
  • Preferably with familiarity and working knowledge of Bloomberg, Reuters and Summit.
  • Able to exercise judgment on matters of confidentiality and those requiring urgent attention especially in the supervisor's absence.
  • Good coordination and interpersonal skills.
  • Excellent written and verbal communication skills in English is required.
  • Please refer to the link for ADB Competency Framework for Administrative Staff levels 1 - 7.

General Considerations

The selected candidate is appointed for an initial term of 3 years.

ADB offers competitive remuneration and a comprehensive benefits package. Actual appointment salary will be based on ADB's standards and computation, taking into account the selected individual's qualifications and experience.

ADB seeks to ensure that everyone is treated with respect and given equal opportunities to work in an inclusive environment. ADB encourages all qualified candidates to apply regardless of their racial, ethnic, religious and cultural background, gender, sexual orientation or disabilities. Women are highly encouraged to apply.

Please note that the actual level and salary will be based on qualifications of the selected candidate.