Our client, a leading financial company is hiring a Wholesale Credit Subject Matter Expert on a contract basis.
Buffalo, NY – temporarily remote.
• Regional Advisory and Project Management role supporting the Risk 2025 and Financial Risk Enhancement Programme (FREP), a multi-year programmed mobilized to fundamentally transform and modernize company approach to managing financial risk management, across the first and second lines of defense.
• Workstream/ Project lead role within the transformation of the Banks risk management & advisory functions to deliver a holistic, forward looking & globally integrated Credit Risk Management capability.
• In collaboration with the Global and other Regional Wholesale Credit Risk teams, design and deliver solutions on a number of Risk Management initiatives including (but not limited to):
1.The simplification of the Global Annual Review Process including the development of Online Smart Templates and the realignment and optimization of the global analysis and approvals process.
2.The roll-out of globally coordinated Sector Reviews across all Regions and development of solutions for Sector Reviews to provide interactive guidance and context for future risk decisions and transactions approvals.
3.The development of a globally integrated Platform for Risk Appetite, Risk Concentration and Cap Management.
4.The design of Risk Profiling solutions for Credit Applications targeting the development of (1) Semi-/Automated Decisioning for basic tasks, (2) Assisted Decisioning for standardized tasks and (3) fast-tracking of specialist tasks to Expert Hubs to optimize Subject Matter Expert capacity.
Principal Accountabilities: Key activities and decision making areas
• The Risk 2025 and FREP programmes have dedicated SME and Project Management Resources in the Whole Credit Risk teams in each of the 3 Key Regions (Asia, EMEA, Americas) as well as at Holdings.
• Provide Subject Matter Expert advice in collaboration with the other Wholesale Risk Teams to design, develop and deliver solutions as part of the FREP programme, ensuring regionally specific regulatory requirements are met.
• Manage processes, infrastructure and resources required to deliver agreed plans and targets.
• Review Policies, Guidelines and Processes strategically targeting the delivery to common and integrated solutions, standardization and consistency, quality enhancement, scale benefits and efficiencies.
• Mobilize expertise of Approvers to enhance Sector Review and Portfolio Management solutions, which in turn can provide context and support for Assisted Decisioning solutions as well as interactive context for future Credit Approvals.
• Help developing an Online Due Diligence Library, which gathers the expertise and experience of Approvers for specific products or situations to help improve future decision quality and consistency, accelerate decision timing and coach future risk managers.
• Provide guidance for IT and system development including Online Smart Templates linking to relevant reference resources (sector reviews, caps, guidelines, policies).
• Coordinate and apply Approvers expertise to identify relevant markers and labels for identification and tracking of high quality, key statistics within the Sector Review and Portfolio Risk Management platforms.
• Be a central point of contact for FREP / Risk 2025 at the Region. Keep project participants focused on delivering globally common / integrated solutions and negotiate compromise and common solutions amongst regions.
• Communicate accountabilities effectively to ensure these are understood by appropriate stakeholders at the Regional/Local level and demonstrate flexibility to work globally across time zones.
• Promote close communication amongst the Regional/Local WCMR functions to understand their strategies, priorities and challenges. Help to ensure that these are managed in line with Global Standards, Group Risk Policy and Risk Appetite.
Role Context: Global Wholesale Credit Risk Management
• Management of Risk (Operational Risk / FIM requirements)
The jobholder is responsible for developing and implementing Credit Risk Policies, Procedures and Standards.
The jobholder is jointly responsible for identification and management of operational risk arising in the Credit Process.
• Observance of Internal Controls (Compliance Policy / FIM requirements)
The jobholder maintains company internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators.
Jobholder is an insider for dealing purposes and subject to strict controls and confidentiality requirements.
Customers / Stakeholders / Teamwork
• Global Wholesale Credit Risk
• Global Portfolio Management
• Regional Wholesale Credit Risk teams globally
• Global Banking & Markets, CMB and Global Private Bank
This resource is for a special project FREP, financial risk enhancement program.
This role will require a lot of self-direction. There is a lot of group connection, many morning calls with London. Need to be able to communicate and work effectively/efficiently with other teams. There will be a lot of picking up of materials and managing self.
Start asap, through end of year 2022 with potential for extension and maybe perm for right person at the right time.
Everyone is remote right now, but the resource needs to be near buffalo.
TOP must-have skills
Background of dealing with large and/or complex financing transactions.
Experience in a Wholesale Credit Risk and/or a Wholesale Business function.
Strong analytical skills and comprehensive knowledge and experience of markets, economics and corporate finance including key wholesale banking products.
Strong communication (verbal and written) and negotiating skills.
7-10 general experience with 3-5 direct credit risk experience. Critical for credit risk and change/transformation experience. This person will need to amend the US ways of working to be more in line with Group procedures. Change background is equally as important as the credit risk experience. Portfolio management, change management, etc.
Bachelor, mast preferred.
Requirements from the Resource
1. Risk Appetite & Concentration Risk
• A framework has been designed for the globally consistent management Risk Appetite, defining approaches to concentration & cap management, sector reviews, how these link into lending guidelines & ultimately credit approvals. Although the framework has been designed in consultation with 1st & 2nd line representatives from the US, in order to implement these changes we will need someone in the region to drive the efforts. Examples of tasks are:
i. An agreement of metrics for measuring sector concentrations. Do regions have metrics they use above & beyond those proposed at group?
ii. Lead the discussion around tooling. PVD vs Local dashboards. Alignment of data / consolidation of dashboards where appropriate.
iii. Sector Data Validation – Assessment of the quality of data in the Portfolio before the dashboard data can be used.
iv. Support the design of a globally consistent Sector Review template.
v. Agreement of roles & responsibilities, as well as working groups for the new framework (essentially the op model element).
vi. Review of existing Caps & Lending guidelines in the regions in the context of the new framework.
• Credit approvals – Alignment with global and regional Policy and actors within that re covenants.
• US alignment to the global solution rather than local solution.
3. Leveraged Lending
• 1 day week required to support the analysis of the Leveraged Lending data captured in the CARM questionnaire. This is to put the analysis of the data together, identify issues (working with group), and working with the team to establish global changes and schedule fixes.