Risk Officer

World Bank, Chennai, India

Skill Required:, Business Development/ Resource MobilizationFinance and Accounts
Preferred Experience: 
5 years
Closing Date for Applications: 
27th August, 2020

Job Description


Do you want to build a career that is truly worthwhile? Working at the World Bank Group provides a unique opportunity for you to help our clients solve their greatest development challenges. The World Bank Group is one of the largest sources of funding and knowledge for developing countries; a unique global partnership of five institutions dedicated to ending extreme poverty, increasing shared prosperity and promoting sustainable development. With 189 member countries and more than 120 offices worldwide, we work with public and private sector partners, investing in groundbreaking projects and using data, research, and technology to develop solutions to the most urgent global challenges.

The Chief Risk Officer (CRO) Vice Presidency of the World Bank is the core unit responsible for institutional risk oversight, including establishment and monitoring adherence to risk policies and guidelines and risk assessment and reporting to the Board and executive management. Its mission is to enable and support the institution to achieve its goals in a financially sustainable manner. The VPU assists management with identifying and managing Group-wide cross-cutting risks, enhancing risk response decisions, reducing financial and operational surprises and losses, seizing opportunities and improving deployment of capital. The CRO Vice Presidency comprises three Departments: 1) Credit Risk (CROCR); 2) Market & Counterparty Risk (CROMC), and 3) Operational Risk (CROOR).

CROOR which operates under the Group CRO has key responsibilities that cover (i) Operational Risk Management, including Oversight, Challenge and Direction for Operational Risks; (ii) Corporate Insurance Management and; (iii) Business Continuity.

Operational Risk Management:

Operational risk is defined as the risk of loss resulting from inadequate or failed internal processes, people and systems, or from external events (Basel, 2011) and is distinct from the Bank’s risk in operations. The Operational risk unit within CROOR is part of the ‘three lines of defense’ model the Bank has established to manage operational risks - business units are the first line of defense responsible for managing the day-to-day operational risk within their business functions; the operational risk unit is the second line and auditors (internal and external) are the third line of defense and are responsible for providing assurance on the Bank’s operational risk management program. As the second line of defense, the operational risk unit is responsible for providing oversight and guidance to business units to manage operational risks and report to management and the board on the overall operational risk profile of the Bank and the status of risk management efforts.

Roles & Responsibility:

The risk officer will support the Operational Risk Department in the following operational risk related activities:

  • Advise clients on implementing the corporate operational risk methodology.
  • Provide advice and guidance to business units to mitigate or reduce operational risk.
  • Support the Secretariat of the Operational Risk Committee for corporate operational risk reporting.
  • Monitor external operational risk data, prepare daily briefing and monthly update, and share with internal and external clients.
  • Based on external operational risk data, follow up with business units and liaisons as appropriate.
  • Analyze internal and external operational risk data, regulatory updates, observations by Group Internal Audit and present key themes and/or good practices to management and other stakeholders.
  • Support the development of Artificial Intelligence and Machine Language based solutions to monitor and analyze internal and external operational risk data.
  • Periodically, benchmark Bank’s ORM practice with industry good practices to identify areas for improvement.
  • Participate in special projects that help mitigate operational risk.
  • Participate in programs designed to create risk culture across the Chennai office.
  • Perform any other duties or responsibilities consistent with the employee role and assigned by the management.

Selection Criteria

  • Master’s degree or equivalent in a business or finance related discipline.
  • Minimum of 5 years practical experience in an operational risk role.
  • An excellent understanding of risk frameworks, methodologies and regulations such as Basel.
  • Experience in data mining, data analytics and data visualization.
  • Working knowledge of various reporting tools such as Business Objects and Tableau.
  • Knowledge or in-depth experience of internal controls is an advantage.
  • Proven experience of working with risk and compliance systems and developing risk reports for management.
  • Outstanding interpersonal skills to interact effectively with colleagues, various levels of client staff and management.
  • Exceptional communication skills, written and oral, including the ability to explain and express views/opinions articulately and confidently.
  • Demonstrate high level of motivation, confidence, integrity, and responsibility.
  • Be a self-starter; take initiative and be able to work autonomously.
  • Willingness to travel on short-term assignments.


  • Deliver results for clients: Demonstrates accountability for achieving results that have a development impact and financial, environmental and social sustainability. Identifies and proposes solutions to mitigate and manage risks.
  • Collaborate within teams and across boundaries: Gives own perspective and willingly receives diverse perspectives. Actively seeks and considers diverse ideas and approaches displaying a sense of mutuality and respect. Integrates WBG perspective into work
  • Lead and Innovate: Contributes new insights to understand situations and develops solutions to resolve complex problems. Adapts as circumstances require and manages impact of own behavior on others in context of WBG’s values and mission
  • Create, Apply and Share Knowledge: Leverages department’s expertise and body of knowledge across WBG to strengthen internal and/or external client solutions. Builds personal and professional networks inside and outside the department unit
  • Make Smart Decisions: Identifies and understands risks and proposes recommendations. Based on risk analysis makes decisions in a timely manner within own area of responsibility, considering the interests and concerns of stakeholders

The Risk Officer position will be based out of WBG Chennai office and will be reporting to the Senior Risk Officer, CROOR. The working hours will be from 12:00 PM IST to 08:30 PM IST.

Poverty has no borders, neither does excellence. We succeed because of our differences and we continuously search for qualified individuals with diverse backgrounds from around the globe.


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