JOB RESPONSIBILITY AND REQUIREMENTS
POSITION TITLE: Senior Risk Associate
CATEGORY: Professional
WORK TYPE: Full time
DEPARTMENT: Risk Management Department
REPORTS TO: Risk Manager
CONTRACT DURATION: 3 years
JOB DESCRIPTION AND OBLIGATIONS SUMMARY
The Turkic Investment Fund (TIF / Fund) aims to become a catalyst for socio-economic development and integration of the Turkic countries, and a flagship organization for the promotion of sustainability, intra-regional trade and connectivity via investments across various sectors with a focus on debt financing, equity investments, and other structured/hybrid financial instruments.
The Senior Risk Associate will be a core member of the Risk Management Department, a second line of defense function with responsibility for the management of financial and non-financial risks, including ESG risks. The Risk Management Department provides independent risk assessments of all financing and investment proposals and ensures that risk-taking activities align with the Fund’s mandate, risk appetite, and international standards.
In this role, reporting directly to the Risk Manger, the Senior Risk Associate will work closely with all departments to develop and implement the Fund’s enterprise-wide risk management framework, including risk identification, assessment, monitoring, reporting, underwriting, and strategic risk advisory. The role has a key emphasis on credit and counterparty credit risks, market risk, and other financial and non-financial risks, as well as includes a key mandate to embed ESG and climate risk considerations into the Fund’s operations.
MAIN DUTIES AND RESPONSIBILITIES:
Enterprise Risk Management and Policy Framework Development
- Assist the Risk Manager in establishing and enhancing the Fund’s enterprise risk management framework across all risk categories, including credit and counterparty credit risks, market risk, liquidity risk, FX risk, ESG, and operational risk.
- Take a lead role in the drafting and implementation of risk-related policies, directives, procedures, and operational manuals, ensuring full alignment with industry standards and TIF’s strategic objectives.
- Support the development of capital adequacy, expected credit loss, stress testing, economic capital, and risk appetite frameworks, including modeling and quantification of physical and transition climate risks.
Transaction Risk Assessment
- Act as a primary reviewer of financing and investment proposals, with particular emphasis on quantifying financial risks and identifying non-financial risks.
- Assess transaction structures and counterparties, analyze the key risks of each financing and investment proposal and advise transaction/project teams on risk mitigation measures and transactions’ terms and conditions enhancements (covering adequate risk-reward, tenor, security, covenants and condition precedents) in line with the Fund’s risk appetite and investment strategy, and via independent risk assessment memos (credit notes) the Management and Board level committees.
- Collaborate with the Investment, Finance, Treasury and Compliance teams to ensure that risks are properly integrated into due diligence and decision-making, including socio-economic impact assessment and screening for climate alignment and resilience. Appraise the validity and reliability of key assumptions of each proposal, including via involvement in the commissioning and review of independent due diligence outcomes.
- Support the integration of socio-economic impact and ESG-related risk factors into all underwriting, monitoring, and reporting processes. Contribute to the implementation of TIF’s socio-economic impact mandate and ESG Policy and ensure relevant disclosures align with international reporting standards.
Risk Monitoring & Reporting
- Monitor risk exposures across the financing and treasury portfolios, including sectoral, geographic, credit, liquidity, market, and climate-related concentration risks, in alignment with the Fund’s Risk Appetite Statement.
- Contribute to periodic risk reporting to the General Director, Management and Board-level committees, and the Board of Directors, including IFRS 9-compliant expected credit loss analysis, liquidity and FX risk metrics, capital adequacy indicators, and dashboards covering key financial and non-financial risk indicators.
- Support the assessment of credit risk parameters (PD, LGD, EAD) and monitor portfolio staging in accordance with IFRS 9 and internal risk classification methodologies.
- Assist in monitoring, stress testing, and scenario analysis of market and liquidity risks inherent in treasury activities, including fixed-income investments, FX positions, and interbank placements.
- Contribute to the assessment of capital adequacy and solvency metrics, such as RWA, regulatory and economic capital, ensuring compliance with internal policies and rating agency expectations.
- Assist in the enhancement of early warning systems to identify emerging risks including deteriorating counterparty creditworthiness, liquidity gaps, market volatility, or breaches of capital and risk appetite thresholds.
Advisory and Collaboration
- Provide proactive risk advisory services to business units, including input on structuring risk mitigation instruments, covenants, and climate adaptation/mitigation measures.
- Build productive relationships with Finance, Treasury, Compliance and Investment teams to ensure seamless risk data exchange, risk identification, risk measurement, and reporting.
- Be an agent of credit culture dissemination, including via active engagement with and on-the-job training (as relevant) on the enterprise-wide risk management framework to respective Investment, Finance, Treasury and Compliance teams.
EDUCATION AND PROFESSIONAL QUALIFICATIONS:
- Bachelor’s degree in Finance, Risk Management, Economics, Statistics, or a related field.
- Professional certification such as FRM, CFA, PRM or an equivalent qualification, or a Master’s degree in a relevant field (e.g., finance, economics, risk management, or quantitative disciplines) is considered a strong asset.
EXPERIENCE:
- Minimum 5–8 years of experience in risk management or asset-liability management functions within banks, financial institutions, multilateral development banks, consulting firms, or rating agencies.
- Demonstrable experience in credit and counterparty credit risks, or market risk is essential.
- Proven experience with Basel standards, EBA regulations, and IFRS 9, including capital adequacy, risk governance, and familiarity with rating agencies’ disclosure requirements.
- Experience in ESG risk integration into risk assessment and decision-making processes is an advantage.
- Experience in emerging markets, particularly in the Fund’s member states, is an advantage.
SKILLS AND COMPETENCIES:
- Strong financial and quantitative skills, with expertise in risk quantification and modeling, financial analysis, and stress testing and scenario analysis.
- Advanced Excel skills and strong report writing and presentation preparation abilities for senior management and Board audiences are essential. Programming experience in Python or R is an advantage.
- Excellent command of English (written and spoken); knowledge of other languages relevant to the Fund’s operations region is an asset.
- Exceptional interpersonal and communications skills, with the ability to present complex technical matters in a clear and accessible manner to nontechnical audiences, including senior leadership with varying levels of technical expertise.
- Able to prioritize and deliver under tight timelines in small, multi-functional teams.
- High ethical standards, integrity, and professional discretion in handling sensitive matters.
