I am currently working with a leading bulge bracket bank looking for a Collateral Review Senior Officer that will be responsible for managing the independent review and challenge of the effectiveness of collateral risk management across the Trading and Banking Book. Candidates should have 10+ years of relevant experience in Banking or Trading Book products along with a thorough understanding of complex markets transactions and collateral and a working knowledge of counterparty credit risk, market risk and associated regulations and requirements.
Key Responsibilities:
- Responsible for managing Collateral Reviews that consist of global, regional, or single-country collateral portfolios in the Trading Book or Banking Book
- Review of Trading Book and Banking Book transactions across the institution to determine if collateral structures are appropriate and in line with Policy and regulatory requirements
- Assessment of the quality of assigned collateral portfolios, including identification and evaluation of emerging risks
- Assessment of the quality and adequacy of analysis related to collateral as well as accuracy and appropriateness of Collateral Rating Scorecards
- Analysis of the enforceability and liquidity of collateral depending on jurisdiction, rating and concentration, along with appropriateness of haircuts applied
- Assessment of the effectiveness of the business and risk processes related to collateral and adherence to internal policies to promote leading practices and identify opportunities for improvements
- Preparation of Collateral Assessment Documents in accordance with and at the quality standards required by the Collateral Review Manual and Review Guides
- Approval of portfolio and relationship-level file testing prepared by GRR Analysts and Guest Reviewers
- Evaluation of the appropriateness of Corrective Action Plans resulting from Reviews or Business Monitoring, and subsequent validation of the effectiveness of the same after implementation by the Business
- Accountability for the quality and consistency of work products that include Collateral Assessment Documents, Sample Rationale Documents, and Review Reports created for assigned Reviews
- Support the Head of Collateral Risk Review on regional and/or global Collateral Risk Review tasks
- Proactive communication to Head of Collateral Risk Review and GRR Management of any concerns and/or emerging risks identified
- Regularly interface with senior business and risk managers
Knowledge/Experience:
- Demonstrable financial services experience including 10+ years in either Banking or Trading Book products
- Extensive credit risk and/or capital markets experience in complex securities financing structures, enabling an individual to dissect transactions and understand all the risk components
- Strong knowledge of collateral pledged to support capital market transaction such as OTC derivatives and securities financing transactions including valuation methodology and legal framework for proper documentation and enforceability
- Strong foundation in credit analysis, with ability to assess appropriateness of adjustments to risk ratings and assignment of facility classifications in light of collateral pledged
- Experience with comprehensive terms and conditions and negotiating master agreements, exchange broker agreements, ISDAs, confidentiality agreements and other commodity master agreements
- Understanding of US Basel rules and general accounting practices
- Fully conversant in collateral policy matters
- Ability to work at senior levels and build constructive and effective relationships with peers
- Ability to recognize emerging risks, including operational risks
- Expert in risk analysis and risk management processes for one or more banking or trading product
Skills/Competencies:
- Strong analytical skills, with the ability to recognize emerging and operational risk including identifying root causes and trends to anticipate horizon issues
- Strong project management skills, with the ability to coordinate and manage review teams in different regions
- Strong written and verbal communication skills, with the ability to communicate clearly and concisely to audiences of varying levels of seniority
- Strong interpersonal skills, with the ability to build relationships and exert influence without direct authority
- Proficient in Microsoft Office (Word, Excel, and PowerPoint)
Qualifications:
- BA/BSc or higher degree in Business (MBA), Finance or any other related subject
