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Vice President – Credit Review Officer
Finance & Investment Industry Company
New York, NY, United States
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Description
Company Profile
Company (the Firm) is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments and individuals from more than 1,200 offices in 43 countries. As a market leader, the talent and passion of our people is critical to our success. Together, we share a common set of values rooted in integrity, excellence and strong team ethic. The Firm can provide a superior foundation for building a professional career - a place for people to learn, to achieve and grow. A philosophy that balances personal lifestyles, perspectives and needs is an important part of our culture.
Department Profile
Internal Audit Department (IAD) is responsible for validating whether the Firm operates in a controlled environment with appropriate risk-management processes. Auditors evaluate the adequacy and effectiveness of the Firm’s internal controls using a risk-based methodology developed from professional auditing standards. IAD assists in monitoring the Firm’s compliance with internal guidelines set for risk management and risk monitoring, as well as external rules and regulations governing the industry. IAD is comprised of Business, Risk Management, Compliance, Finance and Technology audit teams.
Credit Review Group (CRG) is an expert function within the Risk Management audit team and is staffed with subject matter experts in credit risk management.
Background on the Position
As a Vice President in CRG, the incumbent will report to one of the Executive Directors in the group. The candidate will demonstrate:
• subject matter expertise in credit risk management and an ability to analyze complex credits and evaluate quality of credit underwriting for different counterparty types
• good knowledge of economic, regulatory, financial, industry, and other factors that may impact Company’s credit portfolio.
• the ability to effectively communicate thematic issues concerning risk, controls, and corporate governance identified during credit reviews and provide recommendations for improvements based on leading industry practices
• ability to plan and execute Credit Reviews and work with multi-locational teams
• good knowledge of Credit Review practices, including a familiarity with industry best practices.
Qualifications
Primary Responsibilities
• Planning and executing credit reviews; including managing staff to ensure efficient and effective use of resources
• Interaction with regulators, including making presentations on matters relating to Credit Review, and on closure verification of regulatory Matters Requiring Attention (MRA)
• Participation in Credit Risk Management (CRM) committees, as required
• Continuous monitoring of specified credit portfolios, through periodic meetings with CRM and review of management reports
• Supporting other Audit groups with subject matter expertise in the area of credit.
• Mentoring and developing the talent of the junior staff members in CRG
• Staying current on all credit related regulatory matters
Skills Required
• Possess the ability to analyze credit risk across all industries and business sectors, including the mechanics behind complex transactions and structured deals (e.g., complex derivatives, leveraged loans, and SPVs)
• Demonstrates familiarity with restructuring, refinancing and distressed credits (e.g., work out situations and DIP financing)
• Understand the drivers behind credit risk rating tools and models and has the ability to identify conceptual model weaknesses
• Have a good understanding of all relevant regulations, industry practices
• Have a sound understanding of the overall credit process including underwriting, monitoring, portfolio management and problem credit management
• Ability to communicate well both in writing and verbally, at meetings
• Possess at least 10 years or more of financial industry experience, preferably in a large commercial or investment bank in credit review or credit risk management.
• Will have appropriate advanced educational or professional qualifications, MBA/CFA/GRM etc.