Principal (Climate Risk)

Posting Date: 23-Mar-2023

Location: London, GB

Company: EBRD

Purpose of Job

The Climate Risk Team is responsible for the overall successful implementation of the Task Force on Climate-related Financial Disclosures (TCFD) principles within the EBRD’s operations.

The Climate Risk Principal will own one of two Risk types (Physical or Transitional Risk) and support on the other risks, within the development of the Bank’s TCFD methodology, its roll out across the Bank and its ongoing maintenance to ensure successful long term implementation.

In doing this they will translate TCFD and evolving regulatory guidelines into the ongoing operations across the bank, including banking project, investment strategies and others. Through sound understanding of how TCFD, industry bodies and regulatory guidelines affect reporting and ongoing operations of the EBRD, the principal, together with guidance from the Climate Risk Team Head, will develop and drive the execution and implementation of the methodologies across EBRD portfolio and pipeline operations.

Under the direction of the AD, Head of Climate Risk, the Principal, Climate Risk will be responsible for ongoing monitoring of key risk names as well as training and supporting for both credit managers and bankers to be versed in climate risk assessments.  As part of their role, the Principal, Climate Risk will lead the initial drafting of the governance documents to ensure Climate Risk Policies responsibilities are properly recorded and approved.  The Climate Risk Principal will also be taking a leading part in shaping and drafting the Bank’s ongoing TCFD and other climate risk reports and initiatives. The Climate Risk Principal will support the data and reporting of the TCFD and help drive implementation and tracking. Becoming a domain expert, they will be a trusted adviser on the subject to the Head of Climate Risk and across the bank supporting strategic initiatives in this space.

Reporting to AD, Head of Climate Risk, the Principal, Climate Risk will demonstrate a high commitment to the bank’s mandate and institutional goals, as well as ability to drive for results, lead strategic thinking and provide leadership with cooperative approach to staff, clients and shareholders.

Accountabilities & Responsibilities

Develop, refine and maintain methodology:

• Develop TCFD approach for all appropriate sectors across the bank in collaboration with all relevant departments (including conducting research and evaluation of best risk management frameworks, external benchmarks and potential external data providers).
• Own the methodologies and support its iterations – write a detailed set of procedures addressing all TCFD-applicable aspects per department (including detailing the responsibilities and accountabilities in a short form risk disclosure reports, define risk materiality and articulate this for all appropriate departments)
• Develop a maintenance framework for all procedures to ensure they are continuously up to date based on external benchmarks and regulatory guidelines, including developing the technical data sets required for tracking, IT systems implications and other operational considerations

Roll out procedures and monitor implementation:

• Own the roll out across relevant departments, including initiating pilots and managing all aspects of the pilot (e.g. lessons learned and implemented)
• Scaling up roll outs based on a limited number of pilots, ensuring continuous feedback loops are translated into rapid adjustments and improvements
• Write clear and high impact guidelines and training materials to accompany Bank-wide roll outs; Lead training effort to help embed the new procedures; own the training materials and ensure they are always up-to-date
• Design performance parameters for Bank-wide roll outs (“scorecard”), monitoring schedules for all relevant sectors of the bank; publish results according to schedule
• Develop and disseminate learnings to improve bank-wide implementation

Develop Domain Expertise

• Continuously review external thought leadership on TCFD and related Climate Risk subjects to maintain domain expertise within the Bank to include articles, reports, and dialogs with other players (including regulatory bodies, other banks etc).
• Produce ongoing output summaries on developments in this field

Support strategy aspects of the TCFD Team

• Feed into the development of a three-year project plan along with appropriate governance framework, quality control systems and reporting timeline
• Help provide high level input to the Bank’s leadership on all TCFD-related matters
• Help develop Bank-wide communication enhancing the profile of TCFD reporting to improve adoption and raise profile
• Support the team’s work with a wide range of internal stakeholders including MD Risk Management, CRO,  and respective committee such as RiskCom, Audit Committee and Board

Knowledge, Skills, Experience & Qualifications

• Ability to handle consistent ambiguity, and cope with complex concepts, quickly translating them to simple messages
• Strong drive and self-starting mentality, able to handle intense workload, getting things done quickly and to a high standard (as befits the very senior stakeholders involved)
• Strong excel skills and ability to quickly analyze financial models introducing new sensitives
• Sound powerpoint skills and expertise in translating complex problems into simple messages and then into professional presentations
• Knowledge of scenario testing and application to a broad data set
• Experience with financial regulators and ability to translate their requirement into practical steps
• Ability to listen to views of business partners and to be sensitive to and understand cultural differences, transition success factors and the complexity of political constraints across the entire footprint of the Bank
• Ability to build effective working relationships with colleagues in a multicultural environment.
• Comfortable working with uncertainty in an evolving field.
• Comfortable under pressure and can manage tight deadlines.
• Strong data base assessment skills, data management and manipulation experience
• Strong organisational and management skills. Ability to manage a number of varied and complex tasks, resilient attitude towards conflicting priorities and challenges.
• Diplomatic communication and negotiation skills suited for a wide variety of people at high level both inside and outside the Bank. ​​​​​​​

• Working as a credit risk manager or a strategy consultant focusing on power and energy, natural resources, heavy industry or a climate risk related field within a leading firm with 5-8 years’ relevant experience.
• Understanding of climate change and how physical and transition risks apply to market and investments
• Sound Familiarity with the TCFD framework and Stranded Assets and climate risk topics.
• Experience with driving processes in a control unit delivering quality outputs.
• Working knowledge of stress testing and applications of regulatory and industry bodies requirements.
• Understanding of risk frameworks and key concepts of risk management including PD and LGD 
• Knowledge of the key risk outputs critical for decision making
• Experience in TCFD, carbon accounting methodologies and relevant standards is preferable.

What is it like to work at the EBRD?

Our agile and innovative approach is what makes life at the EBRD a unique experience! You will be part of a pioneering and diverse international organisation, and use your talents to make a real difference to people’s lives and help shape the future of the regions we invest in. 

The EBRD environment provides you with:

• Varied, stimulating and engaging work that gives you an opportunity to interact with a wide range of experts in the financial, political, public and private sectors across the regions we invest in;
• A working culture that embraces inclusion and celebrates diversity;
• An environment that places sustainability, equality and digital  transformation at the heart of what we do.

Diversity is one of the Bank’s core values which are at the heart of everything it does.  A diverse workforce with the right knowledge and skills enables connection with our clients, brings pioneering ideas, energy and innovation. The EBRD staff is characterised by its rich diversity of nationalities, cultures and opinions and we aim to sustain and build on this strength. As such, the EBRD seeks to ensure that everyone is treated with respect and given equal opportunities and works in an inclusive environment. The EBRD encourages all qualified candidates who are nationals of the EBRD member countries to apply regardless of their racial, ethnic, religious and cultural background, gender, sexual orientation or disabilities.  As an inclusive employer, we promote flexible working and expecting our employee to attend the office 50% of their working time.

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