Director, Credit & Enterprise Risk

Job Profile:

The Director, Credit & Enterprise Risk is a senior leadership role within the Risk Management Department, responsible for leading credit risk oversight across sovereign and non-sovereign operations at both transaction and portfolio levels, while supporting broader enterprise risk integration, portfolio resilience, and institutional risk management initiatives.

The role provides strategic and technical leadership on credit risk assessment, internal risk ratings, portfolio quality, sovereign risk analysis, country and sector exposures, pricing, restructurings, expected credit loss assessment, and credit risk governance. The position supports the Chief Risk Officer in maintaining robust and forward-looking credit risk management practices aligned with best MDB practices.

The role also contributes to broader institutional priorities, including capital adequacy, portfolio resilience, rating agency engagement, and risk governance.

Duties and Responsibilities:

Credit Risk Leadership

•    Lead credit risk oversight across sovereign and non-sovereign operations, covering both new transactions and existing portfolio exposures.
•    Oversee independent credit assessments, internal risk ratings, pricing reviews, and risk recommendations.
•    Review and provide independent risk clearance and recommendations for all new transactions, as well as material portfolio actions, including restructurings, waivers, and impaired asset strategies
•    Ensure robust analysis of sovereign risk, country limits, sector exposures, concentration risks, and portfolio vulnerabilities.
•    Lead the administration of the Credit Committee, ensuring integrity, governance, and efficient, well-documented decision-making.
•    Provide independent challenge on transactions, portfolio actions, and risk-taking proposals.
•    Design, validate, and maintain internal credit rating models and methodologies for sovereign, project finance, financial institution, and corporate counterparties.
•    Ensure credit risk frameworks incorporate environmental, social, and governance (ESG) considerations and climate risk dimensions consistent with MDB best practices

Portfolio Monitoring, Expected Credit Loss & Risk Metrics 

•   Oversee portfolio monitoring, including watchlist exposures, waivers, restructurings, impaired assets, and recovery actions.

•    Oversee expected credit loss (ECL) assessments, ensuring robustness, consistency, and alignment with applicable accounting standards (IFRS 9) and institutional policies.

•    Recommend timely mitigating actions where portfolio risk indicators approach approved thresholds.

•    Support stress testing, scenario analysis, and credit loss analytics to assess portfolio resilience.

•    Lead the development and implementation of an early warning system (EWS) and watch-list process for deteriorating credits.

•    Support integrated portfolio and enterprise risk assessment across key risk drivers and emerging institutional risks.

•    Contribute to institutional risk dashboards, risk aggregation frameworks, and enterprise risk reporting initiatives.

Credit Risk Policies, Guidelines & Methodologies 

•    Lead the development, enhancement, and implementation of credit risk policies, guidelines, methodologies, and analytical frameworks.
•    Ensure alignment of credit risk frameworks with institutional strategy, risk appetite, stakeholder expectations, and best MDB practices.
•    Periodically review and enhance internal risk rating methodologies, ECL frameworks, portfolio monitoring tools, and concentration risk approaches.
•    Support consistent application of credit risk policies and methodologies across sovereign and non-sovereign operations.
•    Monitor evolving MDB, accounting, and rating agency practices relevant to credit risk management.
•    Lead the development and implementation of credit risk appetite, tolerance levels, and risk limits in coordination with key stakeholders.

Capital Adequacy & Balance Sheet Risk

•    Contribute to capital adequacy analysis, portfolio resilience assessments, and balance sheet optimisation initiatives.
•    Assess the implications of lending growth, portfolio composition, and risk migration on capital adequacy and risk appetite metrics.
•    Support analytical work related to concentration risk management, portfolio quality trends, and risk-adjusted returns.
•    Lead portfolio optimization and diversification initiatives consistent with institutional strategy and risk appetite.

Rating Agency & External Risk Engagement

•    Support engagement with international credit rating agencies on credit risk, portfolio quality, provisioning, and credit risk governance matters.
•    Contribute to analytical preparation for annual rating reviews.
•    Liaise with external auditors on credit risk-related audit matters, including internal rating methodology, ECL assessment, and exposure classifications.
•    Maintain awareness of evolving MDB and rating agency methodologies.
•    Build constructive relationships with peer MDBs and external stakeholders on credit risk topics.

Risk Governance, Reporting & Institutional Support

•    Support the CRO in maintaining robust second-line risk governance practices.
•    Contribute to risk-related submissions to Senior Management and Governing Board committees.
•    Oversee preparation of credit risk and portfolio risk reports, ensuring high quality, timeliness, and actionable insight.
•    Promote consistency, transparency, and discipline in credit risk decision-making.
•    Support coordination across risk domains to promote a consistent enterprise-wide view of institutional risks.
•    Support development of risk culture and technical capability within the Risk Management Department.
•    Oversee the implementation and ongoing enhancement of credit risk management systems (e.g., credit rating platforms, loan management systems, risk aggregation tools).

 Carries out other tasks assigned by the Senior Director, Chief Risk Officer

Qualifications and Experience:

• Master’s degree in business administration, economics, risk management, or a related field from a recognized institution.
•  CFA, FRM, PRM, or equivalent professional qualification is desirable
• Minimum 15 years of relevant credit risk experience, including sovereign and/or non-sovereign financing with leading multilateral development banks or global financial institutions
• Minimum 5 years of experience in a AAA-rated multilateral development bank in relevant risk management roles
• Preferably, at least five years of experience with global or regional banks, fund managers, or multilateral/ bilateral development financial institutions
• Fluent in English. Good working knowledge of Arabic, French or Spanish is an added advantage.

Leadership Competencies:

• Inclusive Leadership & People Management - Ability to lead and manage diverse teams effectively, fostering an inclusive culture where every team member feels valued and empowered, cultivating a collaborative environment, driving team performance, and supporting professional development through mentorship and equitable opportunities.
• Cultural Sensitivity - Ability to lead teams by understanding, respecting, and adapting to cultural differences in a global organization, fostering inclusive communication, collaboration, and relationships while strategically leveraging cultural insights to enhance organizational effectiveness and drive success.
• Strategic Planning and Execution - Ability to develop and implement effective strategies that align with OPEC Fund’s long-term goals, utilizing relevant tools to set clear objectives, allocate resources efficiently, and monitor progress to ensure the successful execution of strategic initiatives, driving organizational growth and sustainability.
• Managerial Accountability and Responsibility - Ability to take ownership of decisions and actions, ensuring alignment with OPEC Fund’s values and objectives, applying relevant principles to establish clear accountability structures, set performance standards, and maintain transparency in reporting and decision-making processes.
• Ethical Decision-Making - Ability to make decisions that uphold the highest standards of integrity and ethical conduct, adhering to OPEC Fund’s code of conduct, and ensuring that choices are principled, transparent, and aligned with the Fund’s mission and values, fostering a culture of trust and responsibility.
• Conflict Resolution - Ability to effectively manage and resolve conflicts to maintain a harmonious and productive work environment, using relevant strategies to identify underlying issues, and facilitating mutually beneficial solutions, ensuring that conflicts are resolved constructively and relationships are strengthened.