As Head of Risk Management for the EDFI Management Company based in Brussels, your role is to support this growing company to manage its risks, to define the company’s Risk Management policies and planning. As Head of Risk Management, you will also be involved in the investment project approval process.
Incorporated in 2016 by EDFI, the association of 15 European Development Finance Institutions, EDFI Management Company manages high-impact investment mandates on behalf of the EU out of its office in Brussels. Examples include the ElectriFI and AgriFI facilities. Additional facilities are under preparation. The programmes managed by EDFI MC are complementary to DFIs’ own private sector operations and help build markets in priority areas.
Risk Management is an important responsibility of EDFI MC and the related activities are growing with the financing activities. We are looking for a Head of Risk Management who can implement and further develop these activities. The Head of Risk Management will report hierarchically to the CFO with a direct functional reporting line to the Board of Directors, its Audit Committee and to the Investment Committees of the different facilities under management.
The Head of Risk Management is responsible for the several risk topics at EDFI MC.
Duties and responsibilities include the following:
- Implementing an overall risk management framework for the organisation, including establishing the levels of risk that the company is willing to take (risk appetite), developing risk policies and procedures, maintaining the risk control matrix and preparing periodic risk reporting;
- Ensuring compliance with the risk management related requirements of (EC) Pillar 6 – Financial Instruments (Reviewing and updating Risk policy / strategic framework, Risk governance, Credit risk identification, analysis and monitoring system, Internal risk rating system (IRRS);
- Performing risk assessments and evaluations;
- Maintaining the credit risk framework, including its internal risk rating system, data sources, and related systems;
- Review the level of risk that the company is willing to take;
- Review the risk appetite for the different programs EDFI MC manages;
- Support management and Board of Directors in all risk policy matters;
- Reviewing possible investment mandates, company procurement, and internal business proposals in line with defined risk processes and controls;
- Building risk awareness amongst staff by providing support and training within the company;
- Risk reporting and communications tailored to the relevant audience: Educating the board of directors about the most significant risks to the business; ensuring business heads understand the risks that might affect their operations, e.g. Development of the credit portfolio; ensuring individuals understand their own accountability for individual risks;
- Review business continuity plans;
- Planning and supporting policy and compliance audits, which will include liaising with internal and external auditors;
- Maintaining and updating insurance policies.
- A master’s degree in any of the following subjects: (i) Risk Management, (ii) Management or Business Studies, (iii) Finance or Economics;
- At least 10 years’ experience in a quantitative risk management position within a banking or insurance company or within a (public) Development Financial Institution
- Good understanding of Enterprise Risk Management, COSO, the 3 (or 5) Lines of Defense model and the latest developments in risk management practice;
- Having a keen interest in a broad range of duties within quantitative risk (including credit risk) as well as qualitative (operational) risk
- Experience with reporting tools (knowledge of MS Access is a plus).
- Any Head of Risk Management should come with the following skills:
- Analytical skills and an eye for detail;
- Commercial awareness and empathy;
- Numerical skills;
- Planning and organizational skills;
- Ability to understand broader business issues;
- Courage to signal and address risks arising in the business, and a problem solving attitude to mitigate inherent risks rather than avoid them;
- Communication and presentation skills;
- Interest in development topics;
- Fluency in English (French is a plus).
- A challenging, innovating & European environment with a good team spirit where personal development and growth are encouraged.
- A people focused culture of continuous learning and coaching.
- An attractive and competitive salary package with fringe benefits.