Quality Assurance Associate Director

Dual-headquartered in New York and London with 50 offices worldwide, Fitch Ratings is a global rating agency dedicated to providing value beyond the rating through independent and prospective credit opinions, research and data. Offering a world of knowledge and experience behind every opinion, we transform information to deliver meaning and utility to investors, issuers and other market participants. Fitch Ratings’ global expertise draws on local market knowledge and spans across the fixed-income universe. The additional context, perspective and insights we provide help investors make important credit judgments with confidence.

Fitch Solutions is committed to delivering value beyond the rating by providing a range of fixed-income products and professional development services to the global financial community. In addition to offering proprietary content, the firm also distributes the ratings, research, financial data and analytical tools of Fitch Ratings. With innovation and experience behind every product and service, Fitch Solutions' flexible offerings are designed to meet the diverse needs of the credit markets.  Fitch Ratings and Fitch Solutions are part of the Fitch Group, a jointly-owned subsidiary of Fimalac, S.A. and Hearst Corporation.

Department Overview:

The European Structured Finance (ESF) Operational Risk Group (ORG) is responsible for rating residential and commercial mortgage loan and Asset Backed Securities servicers in EMEA as well as the continual development of the servicer rating programme and its expansion into new markets and product types.  The team also assists SF analysts across all asset classes with completion of operational reviews in the rating of new transactions and surveillance of existing deals.

A further responsibility for the department includes internal Operational Risk Management (ORM) for ESF.  This is a relatively new accountability for the team and reflects the growing need for internal operational risk management and monitoring of regulatory compliance across the role of rating agencies in structured finance.

The successful candidate will mainly be involved in the team’s internal operational risk management program, but will have the opportunity to develop into other facets of the department’s work over time and if considered appropriate.

Job description:

The Analyst will act as an internal control and monitoring function for ESF, working as a conduit between ESF and colleagues within Fitch’s Global Operations Management team.  The successful candidate will work closely with colleagues in Fitch’s US Structured Finance group with the production of consistent and appropriate reporting templates.

Responsibilities will also include ensuring that ESF is able to produce accurate and timely management information regarding its regulatory position, whilst being able to interpret and investigate anomalies and concerns when they arise.  The role is considered appropriate for an individual with a process driven outlook.  There will be an element of project work for ad-hoc process improvement and efficiency projects, which the successful candidate will be expected to lead.

Responsibilities will include:

•Completion of monthly quality control checks for new structured finance transactions across all asset classes and surveillance work.  This will include the production of timely and relevant reporting to senior management.

•Production of Monthly Operations Report for ESF and continuous enhancement of this report to ensure appropriate and relevant reporting is delivered

•Production and assessment of monthly ‘analyst rotation’ reporting, providing ESF with assurances around this part of the regulatory landscape

•Monitoring of compliance actions and delivery of appropriate solutions to agreed plan / timeline

•Completion of Document Management System checks to ensure analytical teams have met their responsibilities around document processing and filing

•Management of compliance procedures with regard to ESF staff departures – ensuring appropriate and timely responses and outputs are completed when necessary

•Management of ESF’s recusals list, policy and process

•Working on identified process improvement projects whilst ensuring regulatory standards are maintained at all times

•Acting as ESF point of contact for training and recruitment (in liaison with HR).  This will include the continuous development of ESF’s internal training programme and its link with the Fitch Credit Academy

Person Specification:

•Good experience of structured finance and at least 12 months working directly with asset-backed securities (i.e.: mortgages, credit cards, consumer loans, auto finance)

•Basic knowledge of modelling systems

•Basic understanding of operational risk and auditing

•Excellent Excel skills with working knowledge of other Microsoft products.  Previous experience of working with Business Objects would be an advantage

•Good communication skills, particularly the ability to present findings in a concise and dynamic way

•Ability to work in deadline focused environment

•Education to degree level is preferred

Application:

To apply please submit a cover letter and most recent CV including remuneration details, via the enclosed links.

Fitch is an equal opportunity employer that employs people across the full spectrum of society. Fitch works hard to create a workplace with an emphasis on inclusion, innovation and merit. By valuing diversity and equality in our workplace, we believe it adds strength to our business

April 17, 2013 • Tags: , • Posted in: Financial

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