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Assistant Manager - Credit Analyst, Commercial Rating and Underwriting
American Express
Wrentham, MA, United States
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American Express is a global services company and the world’s largest card issuer. Our direct relationships with many millions of consumers, businesses and merchants worldwide - combined with our leading edge marketing, information management and rewards capabilities - enable us to offer an array of valuable services that enrich lives, build business success, encourage financial responsibility and create communities of people with common interests.
American Express for 9th consecutive year has been voted among India’s top 10 workplaces by the Great Place to Work institute. In recognition of our consistent performance, we were nominated to the Great Place to Work “Hall of Fame”.
At American Express, we serve customers, not transactions. We’re widely known for providing superior customer service and have been recognized for a number of achievements including being ranked highest in customer satisfaction within the credit card industry by J.D. Power for seven consecutive years.
A career at American Express is rich in experience and offers opportunities to build lasting relationships with our customers.
Come join us and realize your potential.
Description
Overview of the Department
Central Rating and Underwriting (CRU) sits within the Risk and Information Management division and forms the institutional credit risk management function within American Express. The CRU team plays the critical role of assessing and managing the risk of institutional exposures across all business units within American Express, and in all regions globally. Credit exposures are primarily generated through corporate and small business card programs, via merchant service relationships where non-delivery risk exists, and among the securities portfolio held for firm-wide liquidity.
CRU JAPA is led from Singapore covering JAPA (Japan, Asia Pacific and Australia), with direct reporting line into Global Head of CRU in Salt Lake City, USA. In addition to determining the internal credit rating which drives the probability of default of each exposure, CRU also calculates the loss given default of these obligors while underwriting card programs. As a bank holding company, American Express must comply with the highest global banking standards set by Basel and implemented by the bank’s primarily regulatory, the Federal Reserve.
Job Responsibilities
Analyst in CRU are responsible for rating and underwriting credit exposures in their assigned region, industry, and business line. Fundamental analysis incorporates a thorough review of business, financial, industry and country risk coupled with support from internal and external rating model outputs. Assessment includes understanding of the need for credit extension, profitability of the relationship and program structures. CRU analyst interact with various constituents across the firm including front office sales, business unit risk partners, and credit administration to perform their critical role.
Qualifications
Desired Skills:
• Expertise as a credit and underwriting decision maker, dealing with commercial exposures ranging from Small-To-Medium Enterprises (SME) or middle-market to large, multinational institutions
• Experience in determining appropriate credit capacity, structuring of facilities, and risk mitigation techniques
• Thorough understanding of fundamental financial analysis including the ability to review corporate financial statements to determine the ability of the obligor to honor its credit obligations
• Comfort with Indian accounting standards, corporate valuation, and forecasting
• Familiarity with quantitative credit models (such as Moody’s RiskCalc)
• Knowledge of analyzing the outputs from credit models, and identifying any rationale for any deviation found
• Knowledge of public agency ratings, and supporting analysis
• Ability to understand current macroeconomic trends, and making respective sound recommendations to improve the Probability of Default (PD) estimation based on the business cycle
• Experience preparing company-specific and industry-wide credit memorandums
• Excellent judgment in making sound rating and underwriting decisions to maximize profitability and mitigate risk
• 2-4 years’ experience rating and / or underwriting at a leading financial institution, credit insurance or rating agency
• Bachelor’s degree from a top tier university and a degree in finance, accounting, economics, or statistics
• Graduate degree with a finance or business emphasis, or Chartered Financial Analyst (CFA) designation, is a plus
This role may be subject to additional background verification checks.
Please note, salary increases in case of a lateral move are provided only on an exception basis and in line with compensation guidelines.