The Wholesale Credit Analytics and Solutions team (WCAS) is responsible for implementing key credit risk practices across Wholesale businesses, and ensuring consistency in methodologies within Wholesale Credit Risk. WCAS’ areas of responsibility include Traditional Credit Product stress testing, developing the firm's authoritative wholesale credit risk parameter data set, reserve/allowance management, development and implementation of an economic credit capital model, the construction and integration of credit and capital limits, risk grading methodology, and the provision of strategic advice and solutions to the originating businesses.
The Wholesale Allowance team within WCAS is responsible for defining the Allowance methodology, producing, analyzing and validating the Wholesale portfolio allowance for held-for-investment loans and lending related commitments. The allowance-related analyses and reports are used by audiences both internal and external.
The Wholesale Allowance Team seeks a strong VP to join the allowance SME team tasked with implementing the Current Expected Credit Loss (CECL) framework, models, reporting, analytics, and operating model. The candidate will be responsible to (i) develop command of CECL and various internal modeling frameworks to inform decision making, (ii) opine on model usage, assumptions, output, backtesting, and implementation, (iii) engage stakeholders to answer methodological questions and inform the operating model, and (iv) coordinate many implementation tasks associated with a large scale project. Candidates should possess strong quantitative acumen, knowledge of credit risk and/or financial services accounting (PCI or SOP 03-3 strongly preferred), and an understanding of technology and business process implementation. Successful candidates must demonstrate intellectual curiosity to ask meaningful questions, drive to complete medium term tasks without daily supervision, and should be highly organized.
- Support implementation of Current Expected Credit Loss (CECL) for the Wholesale portfolio (non-retail products)
- Lead project sub-components from methodological considerations through implementation
- Demonstrate command of wholesale loss forecast models, model execution framework, reporting platform, data sourcing, and control framework
- Liaise with technology, model development, model review, accounting policy, and external audit, as necessary
- Analyze and understand the wholesale loan portfolio, including: mark-to-market valuation, loss given default, exposure on facility, obligor grades, probabilities of default, and loan durations.
- Strong knowledge of credit risk or credit accounting
- Strong quantitative / analytical skills
- Excellent communication skills (oral and written)
- Strong organizational skills with the ability to handle multiple initiatives / work streams simultaneously
- The ability and motivation to take initiative and solve problems independently
- Proven ability to develop collaborative relationships with key internal partners to achieve objectives
- Large bank experience required
- CFA required