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Company Info

Large organization

The OPEC Fund for International Development is a multilateral development finance institution established in 1976. Our 12 Member Countries are:  Algeria, Ecuador, Gabon, Indonesia, the Islamic Republic of Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, the United Arab Emirates, and the Bolivarian Republic of Venezuela.

200 + Employees

The OPEC Fund for International Development is a multilateral development finance institution established in 1976. Our 12 Member Countries are:  Algeria, Ecuador, Gabon, Indonesia, the Islamic Republic of Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, the United Arab Emirates, and the Bolivarian Republic of Venezuela.

1). Head, Ethics and Integrity Function

Location: Austria

Department/Unit: Risk Management / Ethics and Integrity Function

Employment type: Fixed Term Contract

Job Category: Professional
Grade Level: G

Job Profile

  • The Ethics and Integrity Function has been established within the Risk Management Department to support the OPEC Fund’s objective of strengthening its institutional integrity risk management resources.
  • The incumbent will have an established reputation for integrity, confidentiality and organizational ethics, and the ability to assess sensitive matters with objectivity and consideration for the individuals concerned. In establishing the Ethics and Integrity Function, the incumbent will be expected to develop an ethics and integrity policy framework and oversee its impartial implementation.
  • This framework will adhere to the Fund’s policy of aligning with industry best practices, particularly those of peer multilateral development banks.
  • Reporting to the Chief Risk Officer, Risk Management Department, the incumbent will play a pivotal role in upholding the Fund’s ethical and integrity standards.

Responsibilities
Regulatory Frameworks:

  • Review and enhance codes of conduct for all Employees of the OPEC Fund and monitor implementation to ensure high ethical standards in the OPEC Fund’s culture.
  • Review and enhance policies, guidelines, and methodologies on the prevention of, and controls to mitigate, integrity breaches.
  • Develop rules and procedures for the submission of allegations of corrupt or fraudulent practices with respect to projects financed by the Fund and allegations of misconduct by staff members.
  • Establish and implement a whistle-blowing and protection from retaliation policy, accounting for internal and external whistleblowers.

Due diligencies:

  • Identify, manage, and monitor integrity risk within the Fund and oversee all such related matters.
  • Conduct integrity due diligence on projects financed by the Fund and stakeholders that the Fund works with, including entities involved in the implementation of such projects.
  • Ensure operational compliance for Know Your Customer, Anti-Money Laundering, counter-terrorist financing, tax evasion, and business practices.
  • Monitor and advise management on sanctions issued by international bodies and national authorities.

Advice, Support and Learning:

  • Review and provide clearance/advice on conflicts of interest.
  • Develop learning material and interventions that raise awareness of issues on ethics and integrity to help foster a respectful and safe workplace.

Investigations and dispute resolution:

  • Conduct investigations on allegations of corrupt or fraudulent practices with respect to projects financed by the Fund and allegations of misconduct by staff members.
  • Support the informal dispute resolution mechanisms, offering mediation/conciliation and other informal dispute resolution options.
  • Carries out other duties relevant to the role as may be assigned by the Chief Risk Officer.

Qualifications

  • Master’s degree in Business Administration, Public Administration, Law, Finance or a related field. A first-level university degree in combination with two additional years of qualifying experience may be accepted in lieu of the advanced university degree.
  • A minimum of 15 years relevant professional experience, of which five years should have been in an international environment.
  • Experience in advising senior management on sensitive ethics related matters is required.
  • Experience in dealing with senior staff and ability to work with people of diverse technical and cultural backgrounds is essential.
  • Professional qualifications such as Certified Public Accountant or Certified Fraud Examiner is an advantage.
  • Certifications in investigations is an added advantage.
  • Certification in conflict resolution is an added advantage
  • Fluent in English. Good working knowledge of Arabic, French or Spanish is an added advantage.

Competencies
Subject Matter Knowledge:

  • The in-depth understanding and expertise in specific fields relevant to the OPEC Fund’s operations and the individual’s role.

Cross-Cultural Sensitivity:

  • The ability to take into account the variety of the human experience and how it contributes to the workplace and to demonstrate  respect for diverse cultures and viewpoints.

Decision making:

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  • The ability to analyze information comprehensively to make well-informed decisions; assess both immediate and long-term ramifications.

Effective Planning and Follow Up:

  • The ability to set clear goals and priorities; skillfully organize tasks for efficiency; consistently follow through on commitments and plans.

Problem Solving Ability:

  • The ability to identify issues adeptly, delve into root causes, and devise pragmatic solutions; demonstrate ingenuity and resourcefulness in overcoming challenges.

Sense of Responsibility:

  • The ability to demonstrate ownership and accountability in tasks and outcomes; uphold reliability and commitment to fulfilling responsibilities.

Application Closing Date
17th June, 2024.

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2). Senior Risk Management Officer

Location: Austria
Contract Type: Fixed Term Contract
Job Category: Professional
Grade: G

Job Profile

  • Under the supervision of the Advisor to the Chief Risk Officer, this position is responsible for planning and implementing highly strategic risk initiatives across the organization that aim to improve capital adequacy, operations planning and creditworthiness.
  • It requires close co-ordination with and understanding of the perspectives of the rating agencies S&P and Fitch, peer AAA-rated multilateral development banks (MDBs), and other departments.

Duties and Responsibilities
Risk Ratings:

  • Prepares the data templates to be submitted biannually (S&P Global Ratings) or annually (Fitch Ratings). Contributes to the preparation of annual presentations to rating agencies.
  • Develops expertise in rating agency methodologies. Stays up to date on changes to these methodologies and advises on the consequent implications for the OPEC Fund.

Risk Transfers:

  • Serves as Secretary on inter-departmental Working Groups, such as the working group to implement sovereign and non-sovereign risk transfers to meet the strategic objectives of improving the weighted average risk rating (WARR) of the loan portfolio and complying with rating agency targets for portfolio diversification.
  • Liaises with AAA-rated MDBs, insurance counterparties and rating agencies for the implementation of risk transfers.
  • Prepares materials for the Risk Management Committee endorsement and Governing Board approval of risk transfers.

Disbursements Model:

  • Develops and continuously improves a quantitative model to enable long-term operations planning to provide guidance on the required Commitments, broken up by type, needed to achieve organizational growth targets

OCR General Capital Increase & SCR Replenishment:

  •  Contributes to risk analysis for highly strategic institutional exercises related to the possible Replenishment of Special Capital Resources (SCR) and a General Capital Increase for Ordinary Capital Resources (OCR).

Qualifications and Experience

  • Master’s Degree or equivalent in either Business Administration, Finance, Accounting, Economics or related fields.
  • Minimum of 10 years of investment, treasury, and/or risk management experience with global or regional banks, fund managers, or multilateral/bilateral development financial institutions with specific experience in institutional credit ratings, risk transfers and quantitative modelling. Experience in a AAA-rated multilateral development bank is particularly relevant.
  • Fluent in English.

Competencies:

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  • Subject Matter Knowledge – The in-depth understanding and expertise in specific fields relevant to the OPEC Fund’s operations and the individual’s role.
  • Collaboration and Teamwork – The ability to effectively work with colleagues, stakeholders and partners to achieve shared goals.
  • Decision Making – The ability to analyse information comprehensively to make well-informed decisions; assess both immediate and long-term ramifications.
  • Problem Solving Ability – The ability to identify issues adeptly, delve into root causes, and devise pragmatic solutions; demonstrate ingenuity and resourcefulness in overcoming challenges.
  • Sense of Responsibility – The ability to demonstrate ownership and accountability in tasks and outcomes; uphold reliability and commitment to fulfilling responsibilities.

Technical competencies:

  • Extensive knowledge of financial concepts and quantitative tools of risk measurement and reporting, particularly in relation to credit ratings, risk transfers, and MDB operations.
  • Project Management
  • Full competency in MS Word, Excel and Power Point.

Application Closing Date
3rd July, 2024.

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3). Financial Management Officer

Location: Austria
Employment type: Fixed Term Contract
Department: Financial Operations Department / Treasury Unit

Job Profile

  • The Financial Management Officer contributes to the effective implementation of various critical policies and guidelines in support of the execution of efficient liquidity, asset-liability and debt management operations.
  • The incumbent is also expected to contribute to the review and risk assessment of investments, including new instruments.
  • Furthermore, the officer is expected to assist the Function Head in managing the Staff Retirement Fund (SRF).

Duties and Responsibilities
Policy development and implementation:

  • Contributes to the review of Liquidity, Asset and Liability Management, and Treasury Risk Management policies and monitors implementation/compliance.
  • Contributes to the formulation of investment guidelines for Treasury portfolios and SRF and monitors implementation/compliance.
  • Assists in the review and risk assessment of investments, including new instruments.

Data collection and analysis:

  • Performs research and analysis related to OPEC Fund’s Treasury portfolios and SRF and prepares reports thereof.Assists in the review and risk assessment of investments, including new instruments.
  • Monitors and analyzes various risk measures on the balance sheet such as liquidity gaps, asset liability mismatches, interest rate exposure, and FX exposure.
  • Analyzes various portfolio data to calculate and monitor equity duration of the balance sheet.
  • Analyzes Treasury portfolios’ performance, liquidity and credit quality; and monitors compliance with relevant OPEC Fund policies.
  • Carries out liquidity analysis/modeling to inform debt management and cash flow planning decisions.
  • Assists in carrying out long-term projections of OPEC Fund’s financial operations.
  • Carries out scenario analyses to simulate effects of interest rate changes on the assets and liabilities.

Stakeholder management and engagement:

  • Analyzes OPEC Fund’s asset liability profile and coordinates with Risk Management to ensure compliance with the ALM policy. Assists in managing relationship with OPEC Fund’s investment consultant to enhance Treasury portfolios and SRF investment strategies and reporting.
  • Supports other Finance Department units/functions with planning, reconciliation and transaction related issues.
  • Assists in overseeing the OPEC Fund’s SRF mandate and evaluate manager performance.

Reporting:

  • Provides regular and ad-hoc analyses and reports to Management, the Governing Board and the Audit and Risk Management Committee.
  • Prepares and reviews relevant sections of quarterly ALM reports.
  • Assists in preparing Pension Committee reports on SRF performance and attribution.
  • Assists in liaising with the OPEC Fund’s actuary in preparing Staff Retirement Plan actuarial valuation reports.
  • Undertakes miscellaneous projects related to the Treasury portfolios and SRF.
  • Carries out other tasks assigned by the Assistant Treasurer – Head, Financial Management and/or Treasurer that are related to the responsibilities of Treasury.

Qualifications and Experience

  • Master’s Degree in Business Administration, Finance, Economics or related fields or a related field.
  • A minimum of five years relevant professional experience, preferably three years of which should have been in an international financial institution.
  • Professional financial qualification (e.g. CFA, FRM) is desirable.
  • Strong quantitative/numerical skills with experience interpreting data.
  • Robust analytical skills are required.
  • Proficiency in Microsoft Office suite, including Word, Excel and PowerPoint.
  • Skills on database related programming (SQL, JAVA, Python, Power BI and etc.) is highly desirable.
  • Fluent in English. Good working knowledge of Arabic, French, German or Spanish is an added advantage.

Competencies:

  • Subject Matter Knowledge – The in-depth understanding and expertise in specific fields relevant to the OPEC Fund’s operations and the individual’s role.
  • Ability to Work Under Pressure – The capacity to remain composed, focused and productive when facing tight deadlines, high-stakes situations and demanding workloads.
  • Collaboration and Teamwork – The ability to effectively work with colleagues, stakeholders and partners to achieve shared goals.
  • Customer Centricity – The ability to focus on comprehending and addressing customer needs; consistently deliver exceptional service and foster strong, lasting customer relationships.
  • Decision making – The ability to analyze information comprehensively to make well-informed decisions; assess both immediate and long-term ramifications.

Deadline: 9th June, 2024.

How to Apply: Interested and qualified candidates should use the links below to apply:

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