VP, Credit Officer
The EMEA Insurance portfolio is an industry sector within Financial Institutions Credit Risk (FICR). FICR is responsible for managing credit risk to a broad range of bank and non-bank financial institutions.
Insurance has been a significant growth area due to key strategic hires in the salesforce focusing on the industry in Corporate Banking and Sales Trading. Furthermore the Bank is looking to leverage the insurance industry as a risk mitigation partner resulting in widening institutional coverage.
Responsibilities
The candidate will be required to support / lead all credit aspects of the portfolio, specifically this would include:
- Primary responsibility for underwriting counterparty credit risk of insurers
- Ensuring timely submission of approval documents and monitoring documents, key risk reviews, and other ad-hoc reports
- Recommending changes to risk ratings in a timely manner
- Ongoing monitoring of the exposure for assigned clients and ensuring compliance with all credit approvals
- Ensuring adherence to prevailing credit policy
- Monitoring and understanding the key risk drivers in the derivative trading book of assigned counterparties generating portfolio sensitivity analysis as required
- Leveraging strong knowledge of the bank's product suite
- Provide terms and/or negotiating where required legal documents, including ISDA/CSA, GMRA etc and loan documentation as necessary
- Review new derivative trades and provide approvals where appropriate
- Working with business partners to develop appropriate client selection
- Completing ad-hoc projects to drive the agenda of FICR and compliance with the Risk Framework
- As a role model for FICR actively engage in growing and developing talent through coaching, mentoring and recruiting
- Maintain a good understanding of the global macroeconomic environment and the key influences on the EMEA Insurance portfolio
Requirements
Essential:
- A solid understanding of the EMEA insurance industry, the key risks and performance drivers
- Very strong credit skills with an ability to underwrite any type of insurance company
- Experience and knowledge of financial traded products to include FX, Equities and Credit derivatives
- Understanding of credit risk sensitivities in the portfolio and risk drivers of the exposures.
- Executive presence with client facing marketing ability. Able to communicate effectively with senior management of our clients and to carry out robust due diligence
- Ability to influence business partners and other stakeholders to the insurance portfolio
- Demonstrated ability to continuously learn and adapt with a proactive can-do attitude to continuous improvement of the individual and risk management process
Desirable:
- Experience gained with an investment bank, or other financial institution as a credit risk manager focusing on the Insurance industry
- Demonstrated ability to lead individuals and a team to the highest level of performance
- Knowledge of senior loans with an ability to structure and negotiate based on the LMA form
- Additional European language skills are an advantage but not essential
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