Director Operational Risk Jobs in Great Falls, VA

The World Bank Group is a unique global partnership of five institutions driven by a bold vision to create a world free of poverty on a livable 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 182 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 World Bank Group (WBG) Chief Risk Officer (CRO) Vice Presidency is the core unit responsible for Group-wide institutional risk oversight, including the establishment and monitoring of adherence to risk policies and guidelines as well as risk assessment and reporting to the Board and executive management. Its mission is to enable and support the WBG to achieve its goals in a financially sustainable manner. The VPU assists management with identifying and managing Group-wide cross-cutting risks, enhancing risk response decisions, reducing financial and operational surprises and losses, seizing opportunities and improving deployment of capital.  The WBG CRO Vice Presidency includes the IBRD/IDA, IFC, and MIGA risk teams and covers a wide range of financial and non-financial risks.

The WBG Operational Risk Team is responsible for Operational Risk, Corporate Insurance, integrated risk oversight, and the building of resilience to the disruption of critical systems. The team leads the identification, assessment, and monitoring of risks arising from people, processes, systems, or external events, ensuring that operational risk management frameworks, policies, and controls remain robust, consistent across WBG entities, and aligned with the institution's risk appetite. It provides independent oversight of significant incidents, root cause and predictive analyses through scenario building, and remediation actions, while promoting a culture of accountability and continuous improvement in operational resilience. Through its Corporate Insurance function, the team provides strategic oversight and management of the WBG's corporate insurance programs to mitigate financial exposure from operational incidents, property damage, liability claims, or other unforeseen losses, ensuring optimal coverage, cost efficiency, and alignment with the WBG's overall risk appetite while coordinating with business units to assess exposure and manage claims. Complementing these functions, the team's Integrated Risk Oversight role provides a holistic, institution-wide view of the WBG's risk landscape by aggregating and analyzing operational risks across the WBG, supporting senior leadership and governance bodies with consolidated risk reporting, and ensuring that material risks are identified, prioritized, and escalated in a timely and consistent manner across all WBG entities.

We are seeking a dynamic Manager to establish an integrated WBG Operational Risk Team, reporting to the WBG Operational Risk Director, to lead a joint team to coordinate the development, implementation, and continuous improvement of this program across all WBG entities. The successful candidate will be managing a team of professionals and engaging with a large range of internal clients, both in HQ and our overseas offices including World Bank, IFC and MIGA. Engagement with external clients is also required, particularly for the corporate insurance program. The position will be responsible for the delivery of the overall program as well as proactive thought leadership and innovation as we work to continually enhance the value we provide.

Duties and Accountabilities

The Manager will be responsible for overseeing and managing Operational Risks, Corporate Insurance, and integrated risk oversight across all WBG entities:

Integrate, oversee, manage and deliver the annual operational risk work program for the WBG (including IBRD, IFC, and MIGA) Business Units. The annual program includes risk identification, assessment, and monitoring of risks arising from people, processes, systems, or external events.

Design and oversee scenario development for all risks that could interrupt business continuity in order to plan for and strengthen the resilience of the institution.

Develop, implement, and complement as needed training and awareness programs for staff to ensure they understand their roles and responsibilities in identifying, escalating, and managing operational risks.

Ensure that adequate operational risk controls and oversight mechanisms are in place for external vendors, suppliers, and third parties who provide critical services or products, coordinating with risk partners to evaluate and monitor their operational risk profiles on an ongoing basis.

Oversee operational risk monitoring and prepare quarterly risk reports for senior management and the Board, providing a comprehensive view of the WBG's operational risk profile; establish and monitor key performance indicators (KPIs) to measure the effectiveness of the operational risk program and report on these metrics to management.

Coordinate and communicate with business partners to ensure timely identification, escalation, and prioritization of operational risks and events across HQ, Regions and Country Offices.

Assist senior management in managing key non-financial risks in collaboration with business partners and proactively highlight emerging risks that may affect the WBG's risk profile.

Ensure the preparedness of the WBG to proactively identify and respond to operational risk events across HQ, Regions and Country Offices, driving the program to focus on risk prevention, early warning indicators, and proactive mitigation working with relevant WBG stakeholders.

Assist the WBG Director as secretariat for the Operational Risk Council (ORC) and develop and oversee broader governance arrangements around operational risk management including relevant risk committees and governance bodies.

Work closely with the business continuity, Data Privacy and the entire CRO teams to ensure that operational risk reporting is aligned with WBG requirements and best practices.

Advise senior management on responding to cross-cutting control gaps and issues raised by the Group Internal Audit (GIA), ensuring timely remediation and follow-up.

Develop and implement tools, techniques, processes, and AI solutions that support the anticipation of operational risk events, drive efficiencies, strengthen risk management capabilities, and enhance the quality of operational risk reporting and data analysis.

Coordinate and collaborate with ITS (Information Technology), Treasury (TRE), Controllers (CTR), and other relevant units to ensure that technology and system risks are adequately captured, assessed, and addressed within the operational risk framework.

Monitor and evaluate the adequacy of risk mitigation plans being implemented to address gaps identified through operational risk assessments, or significant incident reviews.

Coordinate response efforts in cases of significant operational risk events, providing oversight of root cause analyses, remediation tracking, and lessons learned across WBG Business Units, Regions and Country Offices.

Review, validate and maintain the corporate insurance portfolio in alignment with the WBG's operational risk exposures, and support the preparation of the annual insurance purchase plan for endorsement by the relevant governance body.

Maintain awareness of industry, regulatory, technology, and control developments related to operational risk management and implement enhancements to the overall program accordingly.

Provide overall strategic direction for all elements of the program with a focus on timely, high-quality deliverables and alignment with the WBG's risk appetite and institutional priorities.

In addition to the above, the Manager is expected to:

Proactively promote teamwork and collaboration within the team, across the department, and with business partners, clients, and senior management, including insurers, brokers, and other external counterparts critical to the corporate insurance program, to foster efficient and effective business operations and client delivery; cultivate networks of professionals in other international organizations (e.g. MDBs and IFIs) and private sector counterparts to share information and bring in the latest external thinking and best practices.

Ensure adequate flow of knowledge and expertise so that clients receive the highest quality support when and where they need it, including capturing and disseminating relevant knowledge appropriately across the institution.

Participate on behalf of the WBG Director Operational Risk in Bank-wide task forces, working groups, and committees, and respond to corporate and external demands directed to the WBG Director Operational Risk.

 People/Talent Management

Model exemplary WBG leadership values and managerial behaviors and reinforces these qualities within the team and staff.

Drive and inspire technical excellence within the team by creating an environment of learning and innovation that attracts and develops the best talent.

Proactively manage and mentor staff to achieve high performance and professional growth, and support their career development

Manage unit staff and agree on respective responsibilities and work programs.