- City of London
- JN -112023-1951027
- Jan 16, 2024
Global investment bank seeks a Director level Credit Risk Officer as part of its expanding Securitisation business covering a wide range of structured finance products
EMEA and APAC activities of Securitisation Business (Securitised Products Group in EMEA, Asset Finance & Securitisation in APAC) and other Business Lines such as Balance Guaranteed Swap Trading within Primary & Credit Markets of Global Markets, and from time to time other Business Lines within CIB poles and metiers, when RCS is required to either consider credit approval or contribute towards the risk on-boarding decision process for exposures involving securitisation technology or securitised assets.
Core accountabilities of role
Specific responsibilities of a Director, Senior Securitisation Risk Officer are described below:
- Undertake holistic assessment of Credit Requests covering all relevant topics: e.g., a.o., regulatory capital compliance, strategy, rationale, fit with bank's risk appetite, risks including a.o., market, credit, economic, funding, liquidity, operational, reputational, ESG/CSR, jurisdictional, structural risks, stress testing, profitability, internal rating (IR) and global recovery rate (GRR).
o Such reviews are to be undertaken at inception of a file, then at least annually, but potentially on ad hoc basis. Such reviews can also be for new products, activities and envelopes. A written RISK Opinion must be prepared on the basis of such reviews.
o Participate in client Due Diligence visits (seller/servicer/originator).
- The Director, upon relevant authorisation, will be required to perform the role of Securitisation Credit Committee RISK Delegation Holder (Right of Concurrence or credit committee chair), and exercise delegation. Where RCS acts as a contributor to credit committees organised by other RISK Streams, or to the Transaction Approval Committees/New Activity Committees and Fixed Income Commitment Committees processes, the Director will need to present RISK Opinions and relevant recommendations to such forums.
- Perform all necessary RCS credit approval process related roles: i.e. prepare agenda and minutes of credit committees, ensure committee approved regulatory capital parameters and limits are recorded timely in appropriate systems, and disseminate decisions timely.
- Undertake timely and effective escalation to management, adverse risk evolutions at transaction or portfolio level, and other relevant matters concerning compliance with the policies and procedures of the bank.
- Maintain and develop professional relationships with the Business Lines in scope, as well as key stakeholders and contributors across Functions.
- Undertake ad hoc management responsibilities as may be delegated from time to time, including coaching and training junior team members.
General Responsibilities include active contributions:
- To the application, adaptation and continuing improvement of the credit decision processes and policies and procedures framework, and ad hoc projects.
- To RISK Corporate permanent control framework and to Corporate Clients continuum initiatives
- To data quality and to the monitoring of operational risk :
o improving data quality via ensuring the accuracy of key risk parameters (counterparty ratings, GRRs, use of the relevant policies) in minutes & other relevant/applicable systems, and by prompting Business to follow on corrective actions
o communicating to RISK ORC CIB any operational risk incidents (potential fraud, breach of security package, documentation errors…)
- To the continued enhancement of RISK Corporate and RCS monitoring and anticipation capabilities i.e.:
o detect potential threats on the portfolio that falls under his/her responsibility (sectorial/product/country levels, concentrations,…) and identify files for Watch Listing
o contribute to produce dedicated portfolio reviews on Securitization perimeter when requested
o contribute to exposure monitoring process (e.g. any periodic securitization risk reports, …)
o contribute to Risk & Development Policy Committees/RISK Appetite Statement/Strategic Risk Reviews
Stakeholders (with which direct interaction can be expected as part of the role):
- CIB (Capital Markets, Global Markets, Primary & Credit Markets, BNP Paribas Security Services, Global Markets Strategic Oversight Office)
- Functions: RISK, Legal, Compliance, IT & Operations, TAX, Finance, Inspection Generale, Value Preservation Group, as well as RISK SRT Securitisation.
Knowledge, Skill and Experience
Technical experience and skills for Director level hire (Level: Expert):
- Substantial securitisation risk assessment experience (credit, market, counterparty, liquidity..). Experience to have gained from securitisation activities at large international banks (essential) and preferably also from Rating Agencies; covering EMEA and APAC.
- Substantial expertise transversally across a wide range of Securitised Products (ABS, RMBS, CMBS, CLO, Warehouse financing, securitisation swaps*…. and
- …. asset classes (trade receivables, consumer unsecured, resi and commercial, CRE, auto, equipment, NPL/REO, leveraged loans (BSL/MML), with subject matter expertise in at least four asset classes (preferably in leveraged loans, consumer, resi, trade receivables).
- Prior experience in exercising Delegated Lending Authority (DLA) for Securitised Products at a bank is essential.
- Autonomously managing end-to-end transaction review process, including negotiating with the 1stline of defence stake holders.
- Demonstrated experience in running multiple live transactions simultaneously.
- Review of transaction term sheets; financial covenants, loan documentation, corporate balance sheets and financial statements.
- Experience in undertaking client Due Diligence visits, and producing DD reports.
- Familiarity with alternative forms of financing including via repo or collateral exchange.
- Strong experience in practical application of relevant regulatory capital regime for securitisations.
- Strong experience in practical application of Rating Agency criteria and methodology for rating securitisation transactions in a broad range of asset classes.
- Strong experience interrogating Stress Testing models.
- *Securitisation swaps: Interest Rate Swaps, Cross Currency Swaps, Caps; Securitisation derivatives (including balance guaranteed swaps with good understanding of prepayment risk management techniques).
Behavioural for all level hires (Level: Proficient or better):
- Ability to work effectively in a team environment
- Working under high pressure and to tight deadlines; prioritisation skills.
- Strong negotiation skills.
- Good interpersonal and relationship building skills at multi stakeholder level
- Focus on client/commercial/risk sensitivities and risk reward balance.
- Critical thinking and sound judgement.
- High degree of ethical standards
- Self-starter; high levels of initiative and ownership; with an innovative spirit and technological-solutions based mind-set.
Morgan McKinley is acting as an Employment Agency and references to pay rates are indicative.
- Associate Director | Risk Management Recruitment