The Senior Credit Risk Officer assesses, monitors and reports on risks of new and existing private sector transactions, undertakes portfolio monitoring and reporting, prepares quarterly risk management reports, develops credit risk policies in accordance with OPEC Fund’s strategy and institutional risk framework to prevent and mitigate risk.
Duties and Responsibilities
Credit Appraisal and Monitoring
- Ensure OPEC Fund’s credit risk policies, procedures and guidelines are applied to new transactions and existing portfolio. Implement OPEC Fund’s risk appetite set by the Board, contributing to OPEC Fund’s financial sustainability and development objectives.
- Assess the risks of new and existing private sector debt, guarantee and equity transactions in line with the credit approval and monitoring process.
- Provide recommendations to project teams on risk issues, key due diligence items, deal structuring and appropriate risk mitigation measures, determine accurate risk ratings for public and private sector obligors in accordance with internal rating methodologies, pricing / valuation and risk-return analysis, key terms and conditions and financial covenants, during the transaction approval stage and post-disbursement for waivers / consents and monitoring reviews.
- Prepare objective, well-reasoned and independent risk assessments and credit notes for new transactions, to ensure full disclosure and understanding of risks in the approval and monitoring process.
- Provide well-reasoned credit decisions on waivers, amendments and consents for key transaction terms and conditions, covenants, and any other transaction undertakings.
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- Review and provide independent credit opinions on annual monitoring reports for existing transactions, assess and determine updated risk ratings.
- Ensure portfolio quality is maintained with timely identification of credit risks, project challenges and portfolio trends. Maintain accurate credit and facility ratings to reflect risks, and updated credit watch lists. Assist in portfolio monitoring and monitoring compliance of exposure limits, diversification/concentration limits, portfolio weighted risk ratings and risk-adjusted return on capital (RAROC).
- Manage impaired transactions and work closely with business unit in debt restructuring, including undertaking of financial analysis and projections, negotiations with borrowers, coordination with other lenders, and preparation of recovery strategy and proposal for submission to the Credit Committee.
- Develop / enhance OPEC Fund’s credit risk policies and risk appetite frameworks, risk processes and IT risk systems.
Reporting
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- Prepare and submit Credit Notes for new transactions to the Credit Committee.
- Prepare credit decisions / credit commentary on Waivers, Amendments and Consents and Annual Monitoring Reports.
- Prepare inputs for monthly Nonperforming Loan Report to the Credit Committee and quarterly to the Risk Management Committee.
- Maintain updated Credit Watch lists and submit to Risk Management Committee quarterly.
- Contribute to the quarterly risk management report, develop risk policies, and administer Credit Committee meetings.
- Carry out other tasks assigned by the Director, Credit Risk.
Qualifications and Experience
- Master’s degree in Accounting / Finance/ Economics or equivalent professional qualification
- A minimum of 12 years of international banking experience in project finance, financial institutions and corporate lending
- Preferably, 10-12 years of experience with multilateral/bilateral development financial institutions, global or regional banks with a focus on assessing credit risk, enhancing processes and IT systems
- Fluent in English. Good working knowledge of French and/or Spanish is a plus.
Competencies
- Bright, reliable and self-motivated. High initiative and able to work independently, as well as with team members, in a collaborative environment.
- Strong interpersonal, teamwork and analytical skills with high level of integrity and drive for achieving results.
- Demonstrable ability to work in an international multi-cultural environment, with sensitivity and respect for diversity. Excellent verbal and written communication skills.
- Extensive knowledge in credit risk management areas including assessment of individual loans and guarantees, and/or equity investments in the context of credit approval and monitoring process, monitoring of portfolio risks, and management of impaired transactions.
- Excellent analytical and evaluation skills. Good knowledge of credit rating and pricing methodologies, and excellent understanding of lending and investment practices, banking products and impairment and provisioning.
