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Credit Risk Officer
2 months ago
Credit Risk Officer - VP Level
Investment Bank
NYC – Midtown - Hybrid 2-3 days/ week onsite
$175-$195K+ base +bonus
Job Summary
Leading Investment Bank in midtown Manhattan is seeking a Credit Risk Officer to oversee credit risk management for all north American operations. Will work directly with front office to conduct credit risk analysis and risk mitigation for all new and existing clients across all sectors. Will monitor and change limits and counterparty credit ratings, monitor and take action on margin call escalations and monitor compliance of credit terms and data integrity of credit risk systems. Will be hybrid schedule, onsite 2-3 days/ week in midtown office.
Must Have:
- Min 5+ years Credit Risk Management in financial industry
- Strong working knowledge of risk metrics including VaR, PFE and stress testing.
Preferred:
- Insurance and/or Municipalities credit risk is preferred
- Strong product knowledge across derivative and financing products preferred
Job Description:
- Effective credit risk management (evaluation of risk/exposure management) of credit risk within the North America Financial Institutions
Key Accountabilities
- Maintain integrity of credit risk function whilst ensuring that the team continues to fully support Front Office relationship and sales staff.
- Conduct due diligence and write credit papers for new clients, annual reviews.
- Where sector difficulties or client specific difficulties are identified, provide hands-on support to the team to ensure that appropriate action is taken to mitigate credit risk.
- Action on requests from stakeholders across the bank.
- Change in limits and counterparty credit rating following Credit approval.
- Maintain data integrity of appropriate Credit Risk systems and ensure they reflect the approved sanction.
- Approve utilization of sanctioned limits within discretion and resolve credit risk limit excesses.
- Monitor and action on margin call escalations.
- Monitor compliance with credit terms in trading/legal documents and resolve/escalate breaches.
- Ensure that the approvals are within the defined Limits and Mandate and Scale set for the sector.
Stakeholder Management and Leadership
- Act as a primary point of contact within assigned Subsector for the various front office business, sales and other internal stakeholders.
- Liaise with support functions across Investment Bank and Corporate Bank where appropriate for Legal; Compliance; Operations; Collateral Management etc. in support of approval and managing the credit risk associated with each client.
- Perform counterparty/borrower due diligence, including participation in conference calls/meetings with client senior management, Relationship Executives, and Sales personnel.
- Take ownership of problems to provide solutions and ensure they are addressed.
Decision-making and Problem Solving
- Determine risk appetite for specific funds clients.
- Make decisions quickly on trade approvals and requested margin levels.
- Approve deal structures and credit sensitive terms in legal documents.
- Analyse various risk metrics including PFE, VaR, stress test results, sensitivities and gross balances and ensure risk levels are appropriate.
Requirements:
- Bachelors Degree (BA/BS)
- 5+ years of experience in Financial Institutions credit risk management
- Knowledge of Insurance and/or Municipalities credit risk is preferred
Desirable skills:
- Possess a high degree of self-motivation, the ability to drive for results, and track record of setting and achieving goals and meeting schedules. Proactively solves problems.
- Possess strong analytical skills with attention to detail, ability to provide big picture decision making.
- Strong working knowledge of risk metrics including VaR, PFE and stress testing.
- Strong product knowledge across derivative and financing products.
- Strong interpersonal, verbal and written communication skills, and ability to clearly articulate complex concepts and ideas.
- Knowledge of ISDA and other relevant master agreement documentation and credit terms