Join Our Mission to Foster Prosperity in AsiaAre you ready to make a difference in the future of Asia and be a catalyst for positive change? We are thrilled to offer a unique opportunity to become an important part of the prestigious Asian Development Bank (ADB). At ADB, our mission is simple yet powerful: to alleviate poverty and promote sustainable development in the Asia-Pacific region. Organizational Setting and Reporting RelationshipThe position of Head, Office of Risk Management, is assigned to the Office of the Head, ORM within the Office of Risk Management (ORM). You will be based at our Headquarters in Manila, Philippines. All reasonable relocation expenses will be covered.You will report to Vice President, Finance and Risk Management and will oversee assigned international and local staff. Your RoleAs the Head of the Office of Risk Management, you will provide strategic leadership in continuously developing, planning, implementing, and overseeing ORM's vision, mission, strategies and work plans. Your role is to ensure the adoption of best practices and the sound, prudent management of credit, market, and operational risks across ADB's operations. Beyond possessing advanced technical expertise in risk management, this position demands a deep knowledge of the development landscape, exceptional leadership skills, and the ability to serve as a reliable business partner, strengthening innovation and collaboration both within the Bank and with key external stakeholders.You will be responsible for: (i) developing, implementing, and overseeing ADB's comprehensive risk management framework to ensure all risks remain within the Bank's risk tolerance; (ii) providing timely reports and expert advice on various ADB-wide risk issues; (iii) developing, enforcing, and monitoring all risk related policies and guidelines; and (iv) managing ADB's capital adequacy framework, including conducting regular stress-testing to validate the institution's risk bearing capacity. You are expected to maintain the effectiveness of ORM as a second line of defense function, foster innovation, promote a robust risk-taking culture, and to proactively keep Senior Management and the Board informed of emerging risk issues and significant portfolio developments. You will:a. Leadership and Strategic ManagementDevelop, articulate, and disseminate the vision, objectives, strategic development plans, and key performance areas of the Office of Risk Management throughout the organization, ensuring alignment with ADB's and office's goals, as well as compliance with ADB overarching strategies.Lead the planning, execution, and oversight of ORM's work plans, while systematically monitoring the quality of deliverables and progress toward both the office's long-term and annual objectives.Provide leadership in identifying opportunities for improvement within ORM's policies and programs, undertaking special projects as needed to increase the office's overall effectiveness.Oversee all aspects of human resource and staff management issues, including recruitment, performance evaluation and enhancement, professional development and training, as well as conflict resolution.Introduce, implement and sustain innovative and best practice approaches to risk management operations.Participate in risk-related meetings, as well as investment, credit, and portfolio risk management meetings organized by ORM.b. Credit Risk AssessmentProvide overall leadership in the identification, assessment, and mitigation of risks associated with all new non-sovereign transactions, including loans, guarantees, and equity investments. Ensure that the approval process for each new transaction fully adheres to established credit policies and guidelines.Lead the assignment of risk ratings and offer independent recommendations regarding risk mitigation strategies, deal structuring, and pricing.c. Credit Portfolio MonitoringProvide overall leadership in applying best practices to the monitoring and reporting of the non-sovereign operations portfolio. Additionally, oversee the management of watch-listed and impaired non-sovereign transactions to protect asset quality and minimize potential losses.Deliver quarterly presentations to the Audit Committee of the Board, highlighting significant portfolio risk developments, market and operational risks, capital adequacy, and other key risk issues.d. Market/Treasury Risk and Operational RiskProvide overall leadership in implementing best practice for managing market and counterparty risks in treasury operations, including overseeing derivative collateral management, and performing valuation of derivatives and borrowings for financial reporting.Oversee the development and ongoing enhancement of the risk management framework for Treasury operations.Participate in the Asset and Liability Committee meetings.Provide overall leadership in the identification and management of operational risks throughout ADB's activities.Lead the development, implementation, and regular review of all risk-related policies, procedures, models, and methodologies to ensure they align with best practices and the institution's evolving needs.Oversee the ongoing development and maintenance of robust risk management IT systems, ensuring they effectively support the Bank's risk assessment and reporting requirements.Provide overall leadership in coordinating the annual review of ADB's credit ratings by rating agencies.Offer expert advice to Senior Management and the Board on critical risk management and capital adequacy issues.e. Operations Management and Staff SupervisionLead internal coordination of the ORM's work program, ensuring seamless collaboration across departments to support ADB-wide decision-making processes.Manage human and budgetary resources, ensuring all ORM staff demonstrate technical excellence, professionalism, and uphold the highest ethical standards.Provide comprehensive leadership and managerial oversight for all activities within ORM.Oversee daily operations by providing clear guidance on operational issues and ensuring adherence to ADB's risk management policies.Effectively manage the performance of teams and individuals by providing clear direction, conducting regular monitoring, and offering constructive feedback to support continuous improvement.Deliver coaching and mentoring teams and individuals, fostering their ongoing learning and professional development.Oversee budget and resource allocation for the office, ensuring optimal efficiency in the use of resources, including staffing and training needs.f. Coordination and Communication with Internal and External StakeholdersPromote effective coordination and proactive collaboration with other departments and internal stakeholders.Foster productive relationships with key external stakeholders and other financial institution counterpartsincluding multilateral development organizations, rating agencies, government regulators, and private sectors entitiesto support the achievement of the office's objectives, goals, and strategies.Provide ongoing updates to Senior Management regarding significant developments, emerging opportunities, and challenges, along with timely, actionable recommendations. QualificationsYou will need:Master's degree or equivalent in business administration, economics or other related fields; or University degree combined with at least 10 years specialized experience in similar organization/s may be considered in lieu of a Master's degree.At least 20 years of relevant experience, with at least 10 years in senior risk management position in a commercial bank, international financial institution and/or multilateral development bank ideally covering project finance, corporate finance, equity and capital markets.In-depth knowledge and experience in risk management policy issues, quantitative analysis, and risk models.Experience in a credit decision making capacity at a senior level and with substantial level/s of authority.Familiarity with risk management in the economies of ADB's developing member countries will be an advantage.Proven skills and working experience in financial and risk analysis of businesses in major industrial sectors from both an equity and debt perspective with particular emphasis on lending in developing countries and analysis based on cash flow modeling.In-depth knowledge of and experience in private sector financial institution's credit processes, with particular emphasis on risk assessment and monitoring system, risk mitigation, risk distribution and portfolio management techniques, syndication and structuring products, pricing methodologies and legal documentation as well as collection and negotiation of distressed loans and impaired equity investments.Experience handling other types of financial risks, such as counterparty credit risks, market and operational risks associated with ADB's treasury and structuring operations.Good understanding of operational strategies/policies, processes and programs of multilateral development organizations; preferably with practical experience in processing private sector transactions (loans, guarantees and equity investments) involving cofinancing or public-private partnerships.Proven track record of delivering clear, persuasive communication and fostering trust with diverse stakeholders, including senior management, board members, and external partners.Proven ability to set the right priorities under tight deadlines with multiple and complex demands.Proven track record to deliver results of high quality, based on: vision, strategic and analytical thinking, innovative approaches, sound judgment and teamwork.Written and verbal proficiency in English.International experience working in development in several countries.Please refer to the link for ADB Competency Framework for M2. BenefitsADB offers a rewarding salary and a comprehensive benefits package. The salary will be based on ADB's standards and comparator markets, taking into account your qualifications and experience.Housing and education allowance (if applicable)Expatriate benefits (if applicable)Relocation (if applicable)Retirement plan (if applicable)Medical and health benefitsPaid leave (including parental)Life and other insurance plansStaff development Additional InformationThis appointment is open to internal and external applicants.This is a fixed-term appointment for a managerial position, initially for a period of 3 years or up to Staff's Normal Retirement Date (NRD), whichever comes earlier, in accordance with Administrative Order No. 2.01 (Recruitment and Appointment). After the initial fixed-term period, ADB may choose to renew the appointment for an additional fixed-term period of up to 3 years or allow it to expire. This decision will be made in the overall interest of ADB, based on factors including, but not limited to, ADB's medium- to long-term plans for the organizational unit, the relevance of the staff's skills to those plans, and the staff's managerial and behavioral competencies. Notwithstanding the length of the initial or any subsequently renewed FT-M, the expiration date of any fixed-term appointment will not exceed the Staff's NRD. There is no limit on the number of renewals up to Staff's NRD. However, this appointment is not convertible to a regular appointment. About UsAsian Development Bank (ADB) is an international development finance institution headquartered in Manila, Philippines and is composed of 69 members, 50 of which are from the Asia and Pacific region. ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. ADB combines finance, knowledge, and partnerships to fulfill its expanded vision under its Strategy 2030.ADB only hires nationals of its 69 members.To view ADB Organizational Chart, please click here.ADB seeks to ensure that everyone is treated with respect and given equal opportunities to work in an inclusive environment. ADB encourages all qualified candidates to apply regardless of their racial, ethnic, religious and cultural background, gender, sexual orientation or disabilities. Women are highly encouraged to apply.Visit ADB Careers FAQ for more information. 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