LIBOR Transition Quantitative Consultant ALM, Washington
Organization: Inter-American Development Bank (IDB)
Country: United States
City: Washington
Office: IDB Washington
Closing date: Thursday, 4 April 2024
Post of duty: Washington, DC.
The IDB Group is a community of diverse, versatile, and passionate people who come together on a journey to improve lives in Latin America and the Caribbean. Our people find purpose and do what they love in an inclusive, collaborative, agile, and rewarding environment.
The Treasury Division is looking for a dedicated, energetic and team-oriented professional to fill a consultant position in our Asset Liability Management Team (ALM) working as part of the Libor Transition Program (LTP).
About this position:
The ALM team straddles the balance sheet to help coordinate the strategy of funding, investments, and lending. The Team understands balance sheet risks, closely monitor financial markets, propose the optimal risk position of the balance sheet in order to take advantage of both the balance sheet structure and potential change in interest rates, all within risk appetite and guidelines set by Risk, and execute market transactions to accomplish this.
The Libor Working Group is responsible for assessing the impact and implications of transitioning the bank’s balance sheet from LIBOR to alternative reference rates. A multifaceted strategy has been put together to address the following areas (i.) Internal awareness; (ii.) Impact assessment and project structuring; (iii.) Financial Contracts (Fixed Income, Swaps and Loans) (iv.) Communications (shareholder and country engagement) (v.) Funding and Investment strategy; (vi.) SG and NSG Loans transition; (viii.) Balance Sheet Management and (ix.) Bank Systems and Infrastructure.
What you’ll do:
Provide support in the continual refinement of the strategy and the execution of the Bank’s Libor Transition Program (LTP), responsible for transitioning the Bank’s balance sheet from LIBOR to alternative reference rates.
Perform market risk analyses and generate reports in Balance Sheet Systems (such as QRM, Finastra Summit or Internal Modelling). Build a robust understanding of the interest rate risk and basis risks on the balance sheet using available Balance Sheet Systems. This work will result in standardized analyses and reports available to continually measure evolving interest rate risks on the balance sheet including those transitioned away from LIBOR.
Understand the balance sheet items and how they are modelled in Balance Sheet Systems and should look to identify gaps and areas of improvement. This will require experiential understanding of modelling balance sheet financial risks and interdepartmental collaboration with Risk, Accounting and ITE.
In coordination with the stakeholders in treasury and risk, support the transition of the IDB pricing and valuation from IBOR rates to the new reference rates and ensure curves used for valuation are appropriate. Work with the Treasury System (Finastra’s Summit) vendor on related projects (Curve Modelling, Performance Attribution, FTP, among others).
Implement new/refine existing Interest Rate Risk reports, including AEaR, EVE, Basis Risk, Repricing Gaps, etc
Support any activities emerging from and related to the LIBOR Transition Program.
What you’ll need :
Education: Master’s degree or equivalent in Engineering, Business Administration, Finance, or related disciplines. Phd is a plus.
Experience: 10 years or more experience in modelling of financial products, risk management, fixed income. At least five years of experience in derivatives and market risk analysis including the management of QRM processing and analysis. Knowledge of financial and accounting concepts and proficiency in computer applications.
Languages: Proficiency in Spanish and English, spoken and written, is required. Additional knowledge of French and Portuguese is preferable.
Key skills :
Technical Skills:
Strong analytical and quantitative skills with an academic background in engineering, math or finance.
Soft Skills:
Learn continuously.
Collaborate and share knowledge.
Focus on clients.
Communicate and influence.
Innovate and try new things.
Ability to communicating effectively, both written and verbally, within a professional services business environment
Strong analytical, problem-solving and project management skills are required.
Requirements:
Citizenship : [1]: You are a citizen of one of our 48-member countries with residency or legal permit to work in selected countries (see foot note for selected countries)
Consanguinity : You have no family members (up to fourth degree of consanguinity and second degree of affinity, including spouse) working at the IDB Group.
1 For National Remote Consultant: Argentina, Barbados, Bahamas, Belize, Bolivia, Brazil, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatemala, Guyana, Haiti, Honduras, Jamaica, Mexico, Nicaragua, Peru, Panama, Paraguay, Suriname, Trinidad & Tobago, Uruguay.
Type of contract and duration:
Type of contract: Full Time Consultant (CNS).
Length of contract: 12 months.
Location :100% remotely from place of residence of the selected candidate.
Responsible person: Head of ALM.
What we offer:
The IDB group provides benefits that respond to the different needs and moments of an employee’s life.
These benefits include:
A competitive compensation package.
Leave and vacations : 2 days per month of contract + gender-neutral parental leave.
Health Insurance the IDB Group provides a monthly allowance for the purchase of health insurance.
Savings plan : The IDB Group cares about your future, depending on the length of the contract, you will receive a monthly savings plan allowance.
Hybrid and flexible work schedules.
Health and wellbeing: Access to our Health Services Center which provides preventive care and health education for all employees.
Development support: We offer learning opportunities to boost your professional profile such as seminars, 1:1 professional counseling, and much more.
Our culture:
At the IDB Group we work so everyone brings their best and authentic selves to work, willing to try new approaches without fear, and where they are accountable and rewarded for their actions.
Diversity, Equity, Inclusion and Belonging (DEIB) are at the center of our organization. We celebrate all dimensions of diversity and encourage women, LGBTQ+ people, persons with disabilities, Afro-descendants, and Indigenous people to apply.
We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job interview process. If you are a qualified candidate with a disability, please e-mail us at diversity@iadb.org to request reasonable accommodation to complete this application.
Our Human Resources Team reviews carefully every application.
About the IDB Group:
The IDB Group, composed of the Inter-American Development Bank (IDB), IDB Invest, and the IDB Lab offers flexible financing solutions to its member countries to finance economic and social development through lending and grants to public and private entities in Latin America and the Caribbean.
About IDB:
We work to improve lives in Latin America and the Caribbean. Through financial and technical support for countries working to reduce poverty and inequality, we help improve health and education and advance infrastructure. Our aim is to achieve development in a sustainable, climate-friendly way. With a history dating back to 1959, today we are the leading source of development financing for Latin America and the Caribbean. We provide loans, grants, and technical assistance; and we conduct extensive research. We maintain a strong commitment to achieving measurable results and the highest standards of integrity, transparency, and accountability.
Additional Information
External Opening Date: Mar 22, 2024
External Closing Date: Apr 4, 2024
External Contact Email: hrsc@iadb.org
External Contact Name: HR Service Center
Job Field: Technical Support
To apply for this job please visit iadbcareers.referrals.selectminds.com.