Head of Risk and Financial Management

Head of Risk and Financial Management

Job #: req35685

Organization: World Bank

Sector: Climate Change

Grade: GG

Term Duration: 3 years 0 months

Recruitment Type: International Recruitment

Location: Washington, DC, United States

Closing Date: 3/5/2026 (MM/DD/YYYY) at 11:59pm UTC

Overview

Do you want to build a career that is truly worthwhile? The World Bank Group (WBG) is a unique global partnership of five institutions driven by a bold vision to create a world free of poverty on a living planet. As one of the largest sources of funding and knowledge for developing countries, we help solve the world’s greatest development challenges. When you join the World Bank Group, you become part of a dynamic, diverse organization with 189 member countries and more than 120 offices worldwide. We work with public and private sector partners, invest in groundbreaking projects and use data, research, and technology to bring tangible and transformative change around the globe. For more information, visit www.worldbank.org

The Climate Investment Funds (CIF) is one of the world's largest multilateral climate fund, with $14 billion channeled through six Multilateral Development Banks (MDBs) to 82 countries. CIF financing catalyzes climate action in developing and middle-income countries by funding transformational projects that reduce emissions, build resilience, and accelerate the transition to clean energy and sustainable development.

CIF operates through a unique partnership model that brings together governments, MDBs, the private sector, and civil society. This collaborative approach ensures that climate finance reaches those who need it most while testing innovative solutions that can be scaled globally. As climate challenges intensify and the demand for climate finance grows, CIF continues to expand its instruments and impact. In 2025, CIF became the first multilateral climate fund to access capital markets, unlocking $500 million in private sector capital with the CIF Capital Markets Mechanism (CCMM).

CIF funding, featuring high quality financing and high co-financing ratios, empowers developing countries, lowers risk, enables first-of-their-kind investments, and contributes to transformational change. www.cif.org

The CIF is seeking a dynamic Head of Risk and Financial Management to provide strategic leadership to ensure CIF's resources are managed prudently, transparently, and in alignment with governance decisions and an optimal capital adequacy trajectory. This critical role enables CIF to deploy an expanding set of financial instruments effectively while meeting its impact objectives. Leading the Risk & Financial Management function, you will oversee CIF-wide risk management and financial planning, and lead or support key financial mechanisms including the Clean Technology Fund's Capital Market Mechanism (CCMM) and High Leverage Modality (HLM).

Reporting to the Deputy CEO, you will work closely with CIF senior leadership, partner Multilateral Development Banks (MDBs), the World Bank in its capacity as Treasury Manager and Trustee, and the Trust Fund Committee (TFC).

Duties and Accountabilities

Leadership and Engagement

  • Lead and develop the Risk and Financial Management team, setting workplans, mentoring staff, and ensuring high-quality delivery
  • Serve on the CIF extended leadership team and participate in relevant internal committees
  • Represent CIF externally on risk and finance matters in coordination with the Treasury Manager where relevant

Risk Management

  • Implement and periodically strengthen CIF's risk management framework, streamlining and updating risk policies and procedures
  • Develop relevant investment criteria and risk thresholds throughout the programming cycle to ensure optimal portfolio risk trajectory in line with capital adequacy and liquidity requirements
  • Maintain risk indicators and risk appetite thresholds; produce risk dashboards and periodic risk reports for senior management and the TFC
  • Lead portfolio risk analysis, forecasting, and stress testing; develop tools to streamline and automate risk, portfolio, and disbursement reporting
  • In coordination with the Results and Portfolio Management team, conduct risk reviews for new projects and maintain credit portfolio monitoring tools to track concentrations, portfolio limits
  • Ensure optimal portfolio risk trajectory in line with capital adequacy and liquidity requirements

CTF Capital Markets Mechanism (CCMM)

  • Provide input to support effective operation of CCMM in close coordination with the Treasury Manager and Trustee
  • Contribute to consolidated portfolio cash-flow projections, liquidity planning, and financial monitoring required for CCMM
  • Support data quality and consistency across MDBs' reporting streams relevant to CCMM and resolve material discrepancies as needed

Budget and Broader Financial Management

  • Oversee budget preparation, approval, and execution; strengthen forecasting, performance indicators, benchmarking, and internal controls
  • Improve and monitor disbursement performance; lead or support operational workstreams that affect financial management (including HLM implementation, private capital mobilization measurement, and financial products terms and conditions)
  • Ensure finance-related elements of CIF policies and procedures remain current and fit-for-purpose

Selection Criteria

Required

  • A minimum of 10 years of professional experience in risk management and/or asset and liability management, with a focus on capital adequacy risk management
  • Strong capability in financial modeling (programming languages an asset)
  • Demonstrated people management and mentoring experience
  • Proven ability to support senior decision-making through clear analysis and writing
  • Experience engaging with boards or committees and managing complex stakeholders
  • Master's degree in finance, risk management or equivalent degree

Preferred

  • Experience in debt capital markets (including credit agencies rating process) and/or multilateral development banks
  • Familiarity with concessional finance instruments
  • Experience leading or contributing to institutional budget processes

WBG Culture Attributes

  • Sense of urgency: Anticipate and quickly respond to the needs of internal and external stakeholders.
  • Thoughtful risk-taking: Challenge the status quo and push boundaries to achieve greater impact.
  • Empowerment and accountability: Empower yourself and others to act and hold each other accountable for results.

World Bank Group Core Competencies

World Bank Group offers comprehensive benefits, including a retirement plan; medical, life and disability insurance; and paid leave, including parental leave, as well as reasonable accommodations for individuals with disabilities.

We are proud to be an equal opportunity and inclusive employer with a dedicated and committed workforce, and do not discriminate based on gender, gender identity, religion, race, ethnicity, sexual orientation, or disability.

Learn more about working at the World Bank and IFC, including our values and inspiring stories.

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