Job Details: CREDIT RISK OFFICER FIRST LINE OF DEFENSE
WHAT IS THE OPPORTUNITY? This position is responsible for supporting the centralized 1LOD's daily activities for credit risk monitoring, identification and mitigation strategies of multiple diversified consumer and commercial loan portfolios to ensure limited risk exposure for adherence to bank and regulatory standards. This may include, but not be limited to, execution of risk assessment process including identification of key risks and their mitigating controls, overseeing the completion of credit risk review, continuous monitoring of portfolio risk assessments; analyzing new and pending laws/regulations that directly affect the industry and bank policies/standards and preparing and/or reviewing final written reports outlining the results; and preparing various reports to be shared with the designated Division's Senior Risk Committee(s). He or she must adhere to CNB's Risk Management Framework life cycle. This position supports the following Divisions: Commercial Banking, Specialty Banking, Entertainment Banking, Real Estate Banking, Personal and Business Banking, National Corporate Banking
WHAT WILL YOU DO?
- Conduct ongoing reviews to monitor portfolio performance; identify areas of weakness (and strength) in performance. Develop insight into reasons for performance deviation. Promptly advise senior management of any changes in the trends (rating migration, delinquency, collateral, concentration, disruptors, KRIs, originations, etc.).
- Responsible for the ongoing risk management, performing credit quality assessments and related reporting of their assigned credit portfolios
- Responsible for the development, execution and management of reporting and analytical needs for Portfolio Credit Risk Management
- Ensure that the proper exception codes (e.g. PE and PM); Regulatory leverage designations, and risk ratings are correctly identified to adequately manage portfolio risk
- Analyze, monitor, report and recommend changes to concentrations by industry, size and risk ratings to improve portfolio diversification. Ensure the quality and data integrity of the monthly and quarterly reports
- Ensure credit-granting is properly managed with credit exposures consistent with prudential standards and limits; along with established and enforced controls to ensure Policy and Procedures and limit exceptions are reported timely to Management
- Ensure that credit approvals clearly document all requested actions and change requests on the front page of DCRR, PCMF or other approval documents. Also review off cycle data change requests in PCMFs trend cards, email requests, file memorandum, etc.
- Monitor, track and report on Risk Appetite metrics and concentration limits
- Review and challenge business units credit risk and portfolio strategies, and provide feedback on new (or significant enhancement to) products or service that have credit risk
- Review credit risk and reward strategy changes of assigned portfolios and provide management recommendations to optimize risk-return characteristics
- Work with designated credit manager(s) to establish portfolio credit risk management performance guardrails and evaluate performance, utilize sensitivity analysis, stress testing, market trend, and other analytical methodologies to anticipate any credit trends or deterioration and obtain insights into portfolio performance and market opportunities
- Collaborate with Division Risk Manager(s) and 1LOD Credit Risk Manager in creating and delivering presentations for senior management that include portfolio activities, analytics of risk, performance, emerging trends and opportunities
- Lead the development of analytics and advanced visualization to assist with portfolio credit risk surveillance. Typical functions are loss forecasting, mix management, risk appetite management, collections strategy, and reporting related to KPI's that affect portfolio surveillance such as first pay defaults, no payment, charge off and loss rates
- Coordinate the completion of risk mitigating actions and providing status updates of open/closed issues to senior management and second line risk management functions
- Track policy exceptions that will provide meaningful feedback to understand credit portfolio risk, future potential credit problems, and provide feedback to Credit Policy team to review and enhance underwriting guidelines
- Assist Division Risk Management in the execution of risk assessment programs which include areas relevant to credit risk (e.g. Operational Risk Control Self Assessments, Business Impact Assessments, Vendor Risk Assessments, New Product Implementation etc.) to identify and quantify the risks and their associated controls for relevant Business Units
- Coordinate activities with other departments in the bank responsible for risk management including Credit Administration and Credit Risk Review (2LOD)
- Conduct QA/QC testing, validation and reporting on the performance of risk mitigating controls (e.g. if policies and procedures are being followed, if sign off limits are being exceeded, if EDD guidelines are being followed, etc.)
- Complies fully with all Bank Operational and Credit policies and procedures as well as all regulatory requirements (e.g. Bank Secrecy Act, Know Your Client, Community Reinvestment Act, Fair Lending Practices, Code of Conduct, etc.)
WHAT DO YOU NEED TO SUCCEED
- Bachelor's Degree Finance, Economics, Mathematics, Statistics or related field.
- Minimum 5 years of experience in credit risk portfolio management, credit administration, loan origination, and/or credit analysis
- Minimum 5 years of experience in a banking environment or risk management consulting or in the financial services industry in risk related roles
- Minimum 5 years of advanced level experience in Microsoft Office skills, including Word, Excel, Access and PowerPoint
Skills and Knowledge
- Good knowledge of financial services products, including commercial and consumer etc.
- Familiarity with OCC Heightened Standards preferred
- Tableau experience preferred
- Previous experience in financial services industry and/or risk management.
- Proficiency in MS Project, Excel, Word, Access, Power Point, SharePoint.
- Demonstrated ability to think critically and facilitate change through collaborative effort. Strong interpersonal, verbal, and written communication skills.
- Self-motivation, discipline, task focus, the ability to structure and present work and a proven record of delivering high quality results within strict deadlines.
- Must have the ability to multitask and prioritize several concurrent initiatives.
- Demonstrated ability to interact effectively, internally with the most senior representatives of organizations, regulators and vendors.
The preceding job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.
INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT
City National Bank is an equal opportunity employer committed to diversity and inclusion. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or any other basis protected by law.
ABOUT CITY NATIONAL We start with a basic premise: Business is personal. Since day one we've always gone further than the competition to help our clients, colleagues and community flourish.City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues to drive phenomenal growth today. City National is a subsidiary of Royal Bank of Canada, one of North America's leading diversified financial services companies. #LI-BD1 #CA-BD1 Equal Opportunity Employer Minorities/Women/Protected Veterans/Disabled
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