Risk Officer

Closing Date: August 2, 2022

Type of Vacancy:

Details of the Post

The Caribbean Development Bank (CDB or the Bank) is seeking to recruit a national from its member countries to fill the position of Risk Officer in the Office of Risk Management.  The successful candidate will be based at CDB’s headquarters in St. Michael, Barbados.


The Office of Risk Management (ORM) assumes responsibility for the design and administration of the Bank’s risk measurement, monitoring, and control functions. ORM is headed by a Chief Risk Officer (CRO) with responsibility for the development and management of an effective risk management framework.  In carrying out its work, ORM has to ensure balance and attainment of three key goals simultaneously:

  1. Delivery of ‘core’ responsibilities, which include – risk identification, measurement, methodology, approvals, monitoring, reporting, limit setting and controlling in an efficient, accurate, timely and cost-effective manner;
  1. Delivery of ‘value-adding’ support, including technical and strategic, advisory, report and data analysis and interpretation, which is actively sought and used by the business and senior management;
  1. Daily and on-going management of the enterprise risks facing the Bank as these evolve.


Reporting to the CRO, the Risk Officer will assist with the operationalisation of the framework within various departments to consistently and comprehensively identify, measure, monitor, mitigate, and report enterprise risks. The Risk Officer will provide support for the formulation of CDB’s policies, guidelines and practices on risk management.


The Risk Officer will be required to:

  1. Contribute to drafting as well as following policies, guidelines and processes to identify, measure, mitigate, and monitor, the full spectrum of financial and non-financial risks at  CDB;
  1. Contribute to establishing as well as following the requirements for effective implementation and maintenance of enterprise risks utilizing in-house and appropriate industry tools;  
  1. Establish reporting requirements; report frequently and comprehensively on the full spectrum of enterprise risks facing CDB with proposed effective mitigation controls;
  1. Define parameters and embark on extensive financial and non-financial modelling exercises to guide the organisation’s strategic planning and future policy initiatives; 
  1. Conduct rigorous stress testing and scenario analysis on an ongoing basis to better understand gaps and CDB’s preparedness to mitigate anticipated and unanticipated enterprise wide risks;
  1. Design and participate in targeted organisation-wide training and awareness sessions on an on-going basis;
  1. Develop a good working relationship with other departments to safeguard “buy-in”, participation, ownership and implementation by all areas of the organisation;
  1. Select, implement and maintain analytical enterprise wide systems to enhance the timeliness, completeness, and accuracy of information provided to end-users via report automation, query access to data, and/or intranet reporting solutions;
  1. Complete enterprise wide risk assessment of projects and other organisation-wide initiatives to guide the organisation;
  1. Participate in the analysis of risks in country, private and public project appraisals; and attend and contribute to divisional and departmental discussions to support the Risk Manager; 
  1. Act in a supervisory role providing guidance, leadership and support to the Risk Analyst;
  1. Embark on other enterprise wide projects, initiatives and activities as directed by the CRO


The Ideal candidate for this role must have:  

  • A post-graduate degree in a numerate discipline.
  • Five (5) years’ sound credit risk experience
  • Experience in the use of risk quantitative techniques 
  • Proven ability to conduct research, data analysis and mathematical modeling 


Multilateral Development Bank exposure would be considered an asset.


Function-Specific Competencies

The Risk Officer must demonstrate:

  • An understanding of risk management principles, methodologies and tools, and governance principles and activity in a financial services environment.
  • Good understanding of financial and non-financial risk data aggregation; trending; management and analysis.
  • Relevant financial services sector, macro-economic and developmental experience.
  • An understanding financial and non-financial risk characteristics including the scoping and development of risk monitoring, reporting and key risk indicators
  • Project management and sovereign expertise.  
  • Strong written and verbal communication skills with proven ability in communicating with senior managers.
  • Strong communication and relationship building skills.
  • Strong quantitative, mathematical, modelling and statistical skills.
  • A good understanding of regional and international financial regulatory developments.
  • Strong excel macro skills.
  • Strong initiative, entrepreneurial, innovative and value added skills.
  • Supervisory and leadership skills.



This role is a full-time position with the successful candidate being contracted on a two-year basis in the first instance, with the possibility of renewal. The salary is competitive and commensurate with qualifications and experience. The benefits package includes a pension plan, life and medical insurances.

Before you proceed to apply, please consider the following requirements: 

  • You must be a national of one of CDB’s member countries.
  • You will be required to produce evidence of any educational and professional qualifications to support your application if you are selected for an interview.
  • All appointments are subject to satisfactory background checks and references.

CDB fully respects the need for confidentiality of information supplied and assures you that we will not discuss your background and interest with anyone including references, without your prior consent.

The deadline for submission of applications August 2, 2022 at 11:59 pm AST. 

The organisation requires a COVID-19 vaccination for in-person business at the Bank’s headquarters.  Therefore, everyone working in HQ is required to present proof of vaccination status upon hire unless they qualify for a medical or religious exemption, subject to the Bank’s approval.

The Caribbean Development Bank is an equal opportunity employer and values diversity. We encourage all qualified candidates to apply regardless of their racial, ethnic, religious, cultural background, gender, sexual orientation, or disabilities. Women are strongly encouraged to apply.

 The Bank provides reasonable accommodation to individuals with disabilities who participate in the job application or interview process. Please contact us to request such accommodation.

Apply Now

Notice expires at 11:59pm on Tuesday August 2nd, 2022

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