Director/ Senior Director, CECL Execution

2 weeks ago

Holly Springs NC United States First Citizens Bank Full time
Overview:

The Director/Senior Director – CECL Execution will lead the modeling team responsible for execution of First Citizens Bank’s Allowance for Credit Losses modeling process including leading execution of the models, execution of controls over this key process, and governance of the ACL process.

Reports to FCB Head of Modeling & Analytics and works closely with the Head of Modeling & Analytics, the Chief Data & Analytics Officer, Head of Corporate Accounting and Chief Credit Officers to execute the quarterly business as usual CECL modeling process as well as to set strategy around ACL execution including general process improvement, remediation of any audit/regulatory/model risk issues, enhancements to analytics, and integration FCB’s acquisitions into a combined ACL estimation process.

Responsibilities:
  • Ownership of the CECL calculation engine for all in-scope assets, ensuring alignment with regulatory, audit and model risk management standards and including understanding and proposing improvements to platform configurations and calculation methodologies
  • Coordination with stakeholders and owners of sub functions within the CECL process, including accounting / finance, and model developers/owners within the Modeling & Analytics organization.
  • Oversee CECL team interaction with Model Risk Management, Internal Audit, External Audit and Regulatory bodies including exam coordination, exam response, and issue remediation
  • Advise executive leadership on credit loss methodologies and changes in loan loss reserves.
  • Lead design and implementation of revised end to end ACL estimation process including enhanced reporting and analytics capabilities, reconsideration of key assumptions such as reasonable and supportable periods and reversion techniques, design and implementation of qualitative adjustments/overlays process, redocumentation of key methodologies and assumptions, redesign of governance framework and governance materials
  • Perform in-depth analysis, including trends, variances, macro-variable scenario impact, etc. for the CECL reserve process.
  • Perform scenario analysis, estimating the effects of changes in forecasts and assumptions on expected credit losses on an ongoing basis.
  • Maintain documentation of portfolio data assumptions and collaborate with the enterprise and credit data teams on issues impacting CECL estimation
  • Analyze and document allowance results, including attribution
  • Provide subject matter expertise on CECL-related issues, including providing guidance to management and other team members on the interpretation and application of the standard, in close partnership with the accounting policy team
  • Stay current on industry developments and best practices related to CECL and provide recommendations for continuous improvement of the organization's CECL-related processes and controls
  • Lead cross-functional governance committee to obtain approval of results
  • Collaborate with credit model owners to ensure appropriate model documentation and processes
  • Collaborate with the corporate technology team to ensure systems incorporate appropriate data inputs/assumptions
  • Conceive and execute complex projects across multiple teams, applying change management, influencing and communication skills
  • Perform ad-hoc analysis and special projects as needed
Qualifications:
  • Bachelors or advanced degree and 10 years of experience in Risk Management or Analytics in Financial Services industry and management role OR High School Diploma or GED and 14 years of experience in Risk Management or Analytics in Financial Services industry and management role
  • 10+ years leading quantitative analytics / financial modeling activities
  • Advanced understanding of credit risk performance drivers as well as statistical modeling and analysis concepts and tools
  • Knowledge of risk and controls framework including risk identification and effective control design
  • Experience leading financial transformation activities such as system implementations, process design, consensus gathering, and management of subject matter expert and information technology resources.
  • Experience managing financial close processes with quarterly deadlines and operational/Sarbanes-Oxley Controls requirements.
  • Excellent organization skills with ability to manage quarterly execution as well as progress toward longer term multi-year deliverables
  • Excellent communication and presentation skills

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