Office of Risk Management

The Office of Risk Management (ORM) is an independent - but integral part of Bank’s activities - dynamic, strategic and responsive office leading CDB’s second line function, fully supporting the President, the Senior Management Team and the Board of Directors in the management of all core, non-core and emerging risks across the organization. The ORM, headed by a Chief Risk Officer (CRO), implements, monitors, and maintains an efficient and effective Enterprise Risk Management Framework, supporting CDB’s strategic vision and mandate.

In particular, ORM is responsible for risk oversight and monitoring of risk exposures and enabling clear reporting of CDB’s risk profile. It has to ensure balance and attainment of three key goals simultaneously:

1. Enabling better-informed risk taking by using consistent MDBs risk management best practices across the organization to achieve the Bank’s strategic objectives in the long-term, protect its AA+ credit rating and deliver on its development commitments;

2. Ensuring that fist line risk owners deliver their ‘core’ responsibilities, which include - risk identification, measurement, monitoring, reporting; while providing support in developing and implementing policies/guidelines, methodology, limit/controls setting and monitoring tools in an efficient, accurate, timely and cost- effective manner;

3. Delivering ‘value-adding’ support, including technical and strategic, advisory, report and data analysis and interpretation, which is actively sought and used by the first line Operations Units, Senior Management and the Board.