Alternative Funds Credit Risk Officer, VP
- Recruiter
- State Street
- Location
- Boston, Massachusetts; Clifton, New Jersey; Stamford, Connecticut;
- Salary
- Not disclosed
- Posted
- 19 Sep 2024
- Closes
- 11 Oct 2024
- Ref
- R-757432
- Approved employers
- Approved employer
- Job role
- Accounts payable/receivable, Compliance/risk, Credit control, Financial analyst, Financial planning & analysis, Fund accountant
- Contract type
- Permanent
- Hours
- Full time
- Experience level
- Director
ROLE: Vice President– Alternative Funds – Credit Officer
Manage credit risk for a portfolio of Alternative Funds by conducting credit reviews, performing risk ratings, continuous monitoring, and ad-hoc analyses. Maintain data, characteristics, and risk metrics for funds and counterparties in Risk and Dealing systems to ensure control and accurate exposure reporting.
2. MAJOR RESPONSIBILITIES:
- Undertake credit analysis on a portfolio of Alternative Funds utilizing strategies across multiple lending and trading products (including Revolving Credit Facilities, FX, Sec Fin, Repo, and so forth) for State Street’s direct and custody clients
- Manage a small team of Credit Officers in both the US and non US locations.
- Perform annual risk ratings, utilizing analytics and various metrics, within State Street’s Basel-compliant models
- Ongoing monitoring and management of the credit quality of the client portfolio, identifying trends and recommending action when necessary
- Develop and apply knowledge of risk metrics and characteristics that impact a fund’s relative risk (including strategy, performance, financials, investor base, and historical trends) and utilize in analysis, ratings, and reviews
- Propose adjustments to limit sizes and tenors based on reasoned analysis together with business requirements and utilization history
- Participate in due diligence calls and review annual renewals of existing counterparties
- Support relevant workstreams during the annual Comprehensive Capital Analysis and Review (CCAR) exercise
- Provide monthly/quarterly reporting related to the portfolio for various committees
- Develop strong knowledge and act as a super user of State Street’s Risk systems and principal trading systems, particularly with respect to exposure methodologies, key risks, account and limit structuring, and reporting
- Review and understand limit exceptions reports, investigate causes, propose remediation action, and resolve upon consensus and approval
- Build knowledge of the content and structuring of legal documentation governing trading businesses
- Propose and implement enhancements to the credit approval and risk management processes
- Establish and maintain procedure and working documents
- Establish a close working relationship with the Front Office Business Teams, as well as other internal groups, to ensure effective and efficient communication of all relevant matters
3. REQUIREMENTS:
Education and Experience
- Preferred 7+ years of counterparty credit risk management in a global financial institution, or related experience, with a broad knowledge of credit and capital market products; Bachelor’s Degree required, MBA and/or CFA beneficial but not required.
Skills/Knowledge
These skills will help you succeed in this role
- Critical thinking and analytical skills with the goal of identifying and managing key risks impacting the portfolio, including macroeconomic, market, and counterparty-specific risks
- Ability to manage and train others in multiple locations, design training programs and adopt a globally consistent approach to rating and reviewing the underlying portfolios.
- Ability to establish a close working relationship with the front office business unit and other teams across the organization
- Ability to form and foster strong risk relationships with external counterparties generally through due diligence and other risk-based meetings.
- Strong verbal, written, and presentation skills, particularly important as this position requires that the incumbent presents at a cross-functional committee level as well as to our regulators.
- Self-motivated and able to work independently
- Excellent time-management skills with the ability to prioritize competing demands
- Knowledge of the various fund types and their associated risk profiles essential
- Excellent Excel skills and reporting capabilities
- High level of credit analytical skill sets (qualitative and quantitative)
- Working knowledge of State Street’s credit rating and limit management systems, and credit policies, preferred
- Ability to demonstrate persistence and see tasks through to their conclusion. Able to self-motivate, and thrive in a dynamic environment
Salary Range:
$110.000 - $185.000 Annual
The range quoted above applies to the role in the primary location specified. If the candidate would ultimately work outside of the primary location above, the applicable range could differ.
Job Application Disclosure:
It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.
For further information, and to apply, please visit our website via the “Apply” button below.