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Executive Director - Credit Risk Audit

Company: Michael Page
Location: Jersey City
Posted on: September 8, 2021

Job Description:

MPI does not discriminate on the basis of race, color, religion, sex, sexual orientation, gender identity or expression, national origin, age, disability, veteran status, marital status, or based on an individual's status in any group or class protected by applicable federal, state or local law. MPI encourages applications from minorities, women, the disabled, protected veterans and all other qualified applicants.


* Provide oversight and expertise in Internal Audit's assessment of credit risks in the first and second lines of defense.

* The assessment of Credit Risk includes identification, measurement, monitoring and management of credit risks at the product and business level.

* The credit risk expertise should cover Trading and Banking Book credit Risks. Trading credit risks include Derivative counterparty risks, Cash and Structured credit risks. Banking Book credit risks include risks relating to Loan origination, Wholesale lending, Private Equity, Structured lending, Infrastructure and Asset based financing.

* The assessment should include quality and effectiveness of credit risk monitoring and mitigation practices at the Counterparty and Portfolio level including concentrations where applicable.

* Lead / Manage where necessary global and regional Risk Management Audits and ensure delivery of the relevant sections of the Audit Plan.

* Maintain successful Interactions with CRO, Head of Credit and Business Unit Heads as necessary.

* Assist in the annual risk assessment process wherever credit risk is involved in Business unit entities and Credit Risk Management audit entity.

* Effectively collaborate with other Global and Regional Portfolio Directors across all regions and deliver assistance where needed either in audits or other advisory matters.

* Perform continuous monitoring of Credit risks across the firm

* Provide Risk Management technical expertise in global and regional audits with special emphasis on credit risk management practices

* Ensure proper audit coverage of credit risk regulatory requirements particularly with reference Basel, Dodd Frank, PRA, JFSA, BAFIN, SEC, FINRA and CFTC rules

* Develop and implement data analytics and automated testing where necessary.

* Identify and formulate solutions to issues around Credit risk related audit issues.

* Track implementation of recommended processes and procedures designed to strengthen internal controls

* Provide effective leadership to RM audit team in the area of credit risk including mentoring, training and sharing information with other Internal Audit team members.

* Masters degree preferred. FRM, CFA or Risk Management diplomas/certifications a plus.

* Work experience as a Senior Credit Risk manager in a large financial services firm, or Senior Credit Risk consultant in a Consulting Firm.

* Possess expert-level knowledge of management of Trading and Banking Book credit Risks. Trading credit risks include derivative counterparty risks, Structured Credit, Prime brokerage and Financing risks, collateral risk and Asset-backed securities. Banking Book credit risks include risks relating to Loan origination, wholesale lending, Private Equity, Structured lending, infrastructure and Asset based financing.

* Strong understanding of credit risk governance, measurement and monitoring, and credit risk mitigation and management practices.

* Knowledge of Wholesale Banking businesses and activities, trading and banking products and risk management processes for Wholesale Banking businesses

* Strong knowledge of regulatory requirements relating to Risk Management, i.e., Basel credit risk and IRB capital rules, Dodd Frank swap dealer rules

* Reasonable knowledge of general auditing principles, and best practices and standards in Finance and other corporate functions, preferred

* Strong in Project management, building relationships, staff development, and communication in both oral and written forms

A financial services company that is looking to grow out its internal audit department.

Competitive base salary with bonus potential and benefits.

Keywords: Michael Page, Jersey City , Executive Director - Credit Risk Audit, Other , Jersey City, New Jersey

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