Risk Officer (Derivatives, Credit, Liquidity)

This job is with United Nations, an inclusive employer and a member of myGwork – the largest global platform for the LGBTQ+ business community. Please do not contact the recruiter directly.

Org. Setting and Reporting The United Nations Secretary-General is responsible for the investment of the assets of the United Nations Joint Staff Pension Fund (UNJSPF). The Secretary-General has delegated this responsibility to the Representative of the Secretary-General for the investment of the assets of the UNJSPF (RSG). The RSG is, in turn, assisted in this function by the Office of Investment Management (OIM). OIM manages a $100+ billion multi-asset class, global investment portfolio, about 85% of which is actively managed in-house. Asset classes under management comprised of global equities, fixed income, foreign exchange, private equity, real estate, infrastructure, timber and commodities. OIM’s staff are all based in New York and come from over 40 countries. For more information, please visit OIM's website at https : / / oim.unjspf.org / .

This position is located in the Risk and Compliance Team of OIM. The incumbent reports to the Senior Risk Officer.

Responsibilities Under the overall supervision of the Senior Risk Officer, the incumbent will perform the following duties :

• Manage risk of derivatives and establish limits for the positions.
• Analyze collateral requirements and daily monitoring of the positions using stress test models to estimate margin requirements.
• Ensure accurate and complete review of the risks arising from swaps, repos, forwards, futures, TBAs and any other type of derivative
• Ensure that implementation of the derivatives project is successful, leading the function, and oversee implementation of the credit / counterparty module system.
• As an active member of the derivatives working group representing risk, provides guidance on contracts with counterparties, risk processes and procedures and other documentation in collaboration with legal, operations, investments and other teams.
• Prepare guidelines and policies related to derivative transactions.
• Establish a dashboard for the monitoring of the positions.
• Prepare risk opinions for material derivative transactions, collateral management and other related topics.
• Advice and guide on the proper processes OIM needs to follow when implementing and using derivatives as a risk management tool.
• Develop or introduce internal or external methodologies to support risk assessment as appropriate.
• Under the supervision of the Senior Risk officer, produce and implement a comprehensive credit risk monitoring mechanism for the investments and provide oversight as the second line of.
• Periodically reviews derivative positions, counterparty risk and collateral requirements.
• Represents the Organization at inter-agency meetings, seminars, etc. on substantive-related issues as instructed by the Deputy Director for Risk and Compliance Service.
• Participate in international, regional or national meetings and provide programmatic / substantive expertise on derivatives, or hold programmatic / substantive and organizational discussions with representatives of other institutions.
• Carry out other tasks as may be assigned by the Senior Risk Officer or the Chief Risk and Compliance officer.
• Develop liquidity risk metrics / liquidity risk policy and perform stress testing. Coordinate with the pension administration and portfolio managers on liquidity-related funding.
• Perform the credit risk assessment across the total portfolio and oversee the exposures.
• Contribute to the weekly, monthly, quarterly and annual management and external reporting on the risks in the Fund.
• Ensure alignment with risk policies and lead automation of credit / derivative / liquidity risk reporting and dashboards.
• Mentoring, guiding, and training new team members.

Competencies

Ability to identify issues, analyze and participate in the resolution of issues / problems. Ability to conduct data collection using various methods. Conceptual analytical and evaluative skills to conduct independent research and analysis, including familiarity with and experience in the use of various research sources, including electronic sources on the internet, intranet and other databases.

Ability to apply judgment in the context of assignments given, plan own work and manage conflicting priorities. Shows pride in work and in achievements; demonstrates professional competence and mastery of subject matter; is conscientious and efficient in meeting commitments, observing deadlines and achieving results; is motivated by professional rather than personal concerns; shows persistence when faced with difficult problems or challenges; remains calm in stressful situations. Takes responsibility for incorporating gender perspectives and ensuring the equal participation of women and men in all areas of work.

Develops clear goals that are consistent with agreed strategies; identifies priority activities and assignments; adjusts priorities as required; allocates appropriate amount of time and resources for completing work; foresees risks and allows for contingencies when planning; monitors and adjusts plans and actions as necessary; uses time efficiently.

Education Advanced university degree (Master's or equivalent) in Business Administration (MBA), Finance, Economics, Mathematics or related field is required.

A first level university degree in combination with academic qualifications and experience in investment / risk management may be accepted in lieu of the advanced degree. Additional relevant professional qualifications (e.g CFA, CQF) is desirable.

Job - Specific Qualification Not available.

Work Experience A minimum of seven years of progressively responsible experience working in investment management institutions is required.

A minimum of seven years of direct experience with derivatives in an investment, or risk oversight / risk management role is required.

Experience with computer languages such as Python, R or Risk Management / Investment platforms, such as Bloomberg or RiskMetrics is desirable.

Experience in implementing a derivatives program is desirable.

Languages

English and French are the working languages of the United Nations Secretariat. For this job opening, English is required. There are no additional desirable languages. The table below shows the minimum required level for each skill in these languages, according to the UN Language Framework (please consult

https : / / languages.un.org

for details).

Required Languages

Language

Reading

Writing

Listening

Speaking

English

UN Level II

UN Level II

UN Level II

UN Level II

Assessment Evaluation of qualified candidates may include an assessment exercise which may be followed by competency-based interview.

Special Notice

Saint Vincent and the Grenadines, San Marino,

Saudi Arabia, Singapore, Solomon Islands, Turkmenistan, Russian Federation, United States of America.

United Nations Considerations According to article 101, paragraph 3, of the Charter of the United Nations, the paramount consideration in the employment of the staff is the necessity of securing the highest standards of efficiency, competence, and integrity. Candidates will not be considered for employment with the United Nations if they have committed violations of international human rights law, violations of international humanitarian law, sexual exploitation, sexual abuse, or sexual harassment, or if there are reasonable grounds to believe that they have been involved in the commission of any of these acts. The term “sexual exploitation” means any actual or attempted abuse of a position of vulnerability, differential power, or trust, for sexual purposes, including, but not limited to, profiting monetarily, socially or politically from the sexual exploitation of another. The term “sexual abuse” means the actual or threatened physical intrusion of a sexual nature, whether by force or under unequal or coercive conditions.

The term “sexual harassment” means any unwelcome conduct of a sexual nature that might reasonably be expected or be perceived to cause offence or humiliation, when such conduct interferes with work, is made a condition of employment or creates an intimidating, hostile or offensive work environment, and when the gravity of the conduct warrants the termination of the perpetrator’s working relationship.

Candidates who have committed crimes other than minor traffic offences may not be considered for employment.

Due regard will be paid to the importance of recruiting the staff on as wide a geographical basis as possible. The United Nations places no restrictions on the eligibility of men and women to participate in any capacity and under conditions of equality in its principal and subsidiary organs. The United Nations Secretariat is a non-smoking environment.

Reasonable accommodation may be provided to applicants with disabilities upon request, to support their participation in the recruitment process.

By accepting a letter of appointment, staff members are subject to the authority of the Secretary-General, who may assign them to any of the activities or offices of the United Nations in accordance with staff regulation 1.2 (c).

Further, staff members in the Professional and higher category up to and including the D-2 level and the Field Service category are normally required to move periodically to discharge functions in different duty stations under conditions established in ST / AI / 2023 / 3 on Mobility, as may be amended or revised.

This condition of service applies to all position specific job openings and does not apply to temporary positions.

Applicants are urged to carefully follow all instructions available in the online recruitment platform, inspira, and to refer to the Applicant Guide by clicking on “Manuals” in the “Help” tile of the inspira account-holder homepage.

The evaluation of applicants will be conducted on the basis of the information submitted in the application according to the evaluation criteria of the job opening and the applicable internal legislations of the United Nations including the Charter of the United Nations, resolutions of the General Assembly, the Staff Regulations and Rules, administrative issuances and guidelines. Applicants must provide complete and accurate information pertaining to their personal profile and qualifications according to the instructions provided in inspira to be considered for the current job opening. No amendment, addition, deletion, revision or modification shall be made to applications that have been submitted. Candidates under serious consideration for selection will be subject to reference checks to verify the information provided in the application.

All external candidates recruited in accordance with section ‎2.2 (a) of ST / AI / 2025 / 3 for a fixed term appointment without limitation and all external candidates recruited in accordance with section 2.2. (c) of ST / AI / 2025 / 3 for a fixed term appointment limited to the entity are subject to an initial probationary period of one year under a fixed-term appointment.

Job openings advertised on the Careers Portal will be removed at 11 : 59 p.m. (New York time) on the deadline date.

No Fee

THE UNITED NATIONS DOES NOT CHARGE A FEE AT ANY STAGE OF THE RECRUITMENT PROCESS (APPLICATION, INTERVIEW MEETING, PROCESSING, OR TRAINING). THE UNITED NATIONS DOES NOT CONCERN ITSELF WITH INFORMATION ON APPLICANTS’ BANK ACCOUNTS.

]]>