Risk Management - Derivatives Consultant

We improve lives

The IDB Group is a community of diverse, versatile, and passionate people who come together on a journey to improve lives in Latin America and the Caribbean. Our people find purpose and do what they love in an inclusive, collaborative, agile, and rewarding environment.

About this position

At the IDB, the Office of Risk Management (RMG) is responsible for overseeing and strengthening the Bank’s capacity to identify, measure, and manage financial and operational risks. Within RMG, the Treasury Risk Management Group (RMG/RMT) manages risks in the Bank’s Treasury portfolios (investments, funding, derivatives), including analyses and recommendations to adjust risk boundaries in guidelines and policies, strategic asset allocation, quantitative modeling and analytics, risk assessments and stress tests, and risk control, monitoring and reporting.

RMG/RMT is looking for a dynamic, motivated, and specialized derivatives consultant. The candidate will work in coordination with RMT and IDB Group staff on derivatives risk services for IDB Invest under a Service Level Agreement with IDB, including derivatives risk measurement, implementation of system and reporting enhancements, validation of fixed income and derivatives valuation models, swap valuation and collateral management, and derivatives risk monitoring and reporting.

What you’ll do

The consultant will implement work programs and projects, including the functions and responsibilities listed below.

• Collaborate with RMT staff in the assessment and monitoring of derivative portfolio risks, applying metrics and tools for scenario analysis and stress testing to enable senior management to have a comprehensive view of risk positions, market conditions, and the impact of new initiatives.
• Maintain and update a database of key assumptions and market inputs required to run portfolio risk measures including Value-at-Risk (VaR), risk sensitivities, potential credit exposures, and a few other metrics.
• Support staff in the use of the Derivative Counterparty Risk Management (DCRM) system to produce daily derivative risk measures and reports; assist in daily swap valuation and collateral management and communications with derivatives counterparties.
• Contribute to the implementation of new reporting and visualization tools to provide additional risk information and profiles on derivatives portfolios.
• Evaluate and implement enhancements to reports and processes.
• Maintain effective communication with internal clients and collaborate on new initiatives, like the development of risk models for derivatives used in new financial products.
• Conduct research and data analysis to support revisions to risk guidelines and limits, as well as ISDA/CSA collateral and risk mitigation provisions.
• Provide advice and support on the negotiation of ISDA Swap Master Agreements, in coordination with RMG, IDB Invest, and legal department.
• Monitor risks and prepare a summary of relevant market and portfolio developments to be presented at weekly capital market meetings.
• Perform other analyses, reviews and reports as directed by the Head, Treasury Risk Management Group, RMG/RMT, or the Derivatives Risk Manager, RMG/RMT

What you'll need

• Education: Master’s degree in Finance, Business Administration, Economics, Statistics, Computer Science, or other relevant discipline. Strong quantitative background preferred

• Experience: At least 5 years of experience in finance, capital markets, risk management and/or portfolio management with exposure to derivatives a plus. Outstanding analytical and problem-solving skills, with ability to add value to the risk management process through creative thinking and in-depth and disciplined analyses. Strong communication skills, including the ability to draft well-written, coherent analyses and documents for senior management.

• Languages: Proficiency in English spoken and written, is required. Additional knowledge of Spanish is preferable.
  

Requirements

• Citizenship: You are a citizen of one of our 48-member countries . We may offer assistance with relocation and visa applications for you and your eligible dependents).
• Consanguinity : You have no family members (up to the fourth degree of consanguinity and second degree of affinity, including spouse) working at the IDB, IDB Invest, or IDB Lab.

Type of contract and duration

Consultant: International consultant, Full-Time, 14 months (up to 36 months).

What we offer

The IDB group provides benefits that respond to the different needs and moments of an employee's life. These benefits include:

• A competitive compensation package.
• Leaves and vacations : 2 days per month of contract + gender- neutral parental leave
• Health Insurance : the IDB Group provides a monthly allowance for the purchase of health insurance.
• Savings plan : The IDB Group cares about your future, depending on the length of the contract, you will receive a monthly savings plan allowance.
• We offer assistance with relocation and visa applications for you and your family when it applies.
• Hybrid and flexible work schedules.
• Development support: We offer learning opportunities to boost your professional profile such as seminars, 1:1 professional counseling, and much more.
• Health and wellbeing: Access to our Health Services Center which provides preventive care and health education for all employees.
• Other perks: Lactation Room, Daycare Center, Gym, Bike Racks, Parking, and others.

Our culture

We ensure that individuals with disabilities are provided reasonable accommodations to participate in the job interview process. If you require an accommodation to complete this application, please email us at accommodations@iadb.org .