Reporting to the Director - Credit Risk, the Senior Manager is responsible for credit risk oversight for an assigned portfolio, providing second line challenge for credit requests and responsible for ongoing monitoring of the accounts. The assigned portfolio will consist primarily of debt obligor and counterparty credit exposures arising from Treasury and Capital Markets activities involving financial institutions, sovereigns, supranationals and agencies.
Given a diverse range of products and risks in the portfolio and regular interaction with variety of internal contacts, the Senior Manager benefits from an environment which fosters continuous learning and development and, from an opportunity to make a positive contribution to the Bank as a counterparty credit expert.
As part of the wider Risk Management team, the Senior Manager contributes to the overall success of the Risk Management Function in SIDAC ensuring specific individual goals, plans and initiatives are executed / delivered in support of the team’s business strategies and objectives. The role holder also ensures that all activities are conducted in compliance with governing regulations, internal policies and procedures.
- Provide sound and timely recommendations with respect to applications for credit including annual reviews through competent and thorough analysis and challenge, with suitable structure, pricing, conditions and security/collateral stipulated. Recommendations to be agreed with Director Credit Risk prior to circulation to the CRO, Credit Committee and GRM Toronto, to ensure appropriate evaluation and oversight.
- Provide a robust and challenging 2nd line of defence with an independence to influence proposals, challenge decisions and make independent recommendations. Ensure this challenge can be evidenced by way of written correspondence.
- Monitor the quality of credit portfolios and provide timely review/escalation of issues to the Director Credit Risk. This includes developing and executing on an approach for detecting and actioning early warnings indicators; reviewing counterparty credit risk stress testing for the portfolio and being alert to wrong way risk positions.
- Monitor adherence to policies, limits and taking/recommending actions required to correct any irregularities, amendments to policy and country/industry limits, as appropriate.
- Develop and maintain an extensive base of industry knowledge.
- Contribute towards the process of credit risk reporting to Credit Committee, Executive Committee and the Board Risk Committee ensuring accuracy and relevance of submissions. When required, participate in Toronto-based credit meetings to discuss credit proposals/limits.
- Provide recommendations to senior executives, present and participate in discussions in Credit Committee.
- Review documentation governing particular credit facilities as required (i.e. trading documentation).
- Contribute to the data quality and integrity of the information in the Bank’s risk systems and regulatory reporting by providing accurate data in a timely manner, periodically reviewing the accuracy of the data in the Bank’s risk systems and by conducting data classification and spot check reviews of relevant regulatory reporting as requested.
- Work on projects and special reviews as assigned by senior management.
- Responsible for periodic review of and keeping current all assigned policies, frameworks, and procedures and monitor regulatory developments for the areas covered.
- Contribute to model assessment and ongoing review for relevant models as required.
- Represent Credit in discussions on implementation of new and/or changes to technology supporting the trading businesses. Make recommendations as required on business cases for enhanced/new technology infrastructure to support risk related management reporting and related internal controls.
- Support various stress testing and prudential exercises such as ICAAP, ILAAP and Recovery Plan and including monitoring of assigned recovery plan indicators.
- Respond autonomously to queries from Senior Management, Audit, Compliance, Finance, Operations and BNS groups in respect of covered portfolio.
- Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
- Champions a customer-focused culture to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
- Champions a high-performance environment and contributes to an inclusive work environment.
- Actively pursues effective and efficient operations of his/her respective areas, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational risk, regulatory compliance risk, AML/ATF risk and conduct risk, including but not limited to responsibilities under the Operational Risk Management Framework, Regulatory Compliance Risk Management Framework, AML/ATF Global Handbook and the Guidelines for Business Conduct.
- The incumbent is required to have the relevant fitness and probity to carry out the role and responsibilities in such a manner that the incumbent can comply with the Central Bank of Ireland 2011 Fitness & Probity Standards, as applicable to the role. In general, the Fitness & Probity Standards require the role holder to:
(b) act honestly, ethically and with integrity; and
(c) be financially sound.
- Acts with professionalism and respect at all times.
- Exemplifies a strict ethical code to pursue honesty, integrity and transparency.
- Demonstrates strong communication skills, both verbal and written, and adjusts communication style depending on the situation.
- Develops effective relationships with business lines and other groups that fosters awareness of the Bank’s risk framework and the sharing of information.
- Takes ownership and demonstrates the ability to focus on what matters most, working at a fast pace and able to consistently achieve results despite challenging conditions (Results Focus).
- Acts as a role model and challenges employees to put the customer first and works cooperatively across departments to anticipate and serve customer needs (Customer Focus).
- Demonstrates self-awareness, seeks out feedback from diverse sources and consistently pursues personal development to increase skills, knowledge and capabilities.
- Demonstrates curiosity to bring external developments, trends and best practices to the Bank and constantly seeks improvement in how to deliver value to our stakeholders.
- Demonstrates resiliency in the face of challenges and obstacles; adjusts well to changing priorities and creates enthusiasm in self and others to move forward after setbacks.
- Demonstrates courage to express one’s view, confidently ask questions, respectfully challenge each other and our business partners, make decisions and learn from our mistakes.
- Puts team first and works effectively, respectfully and collaboratively with colleagues and business partners to achieve common objectives and for the betterment of the Bank.
This role reports to the Director Credit Risk. This role has interactions with a range of functions including Capital Markets, Treasury, Finance and Risk within and outside SIDAC, including local C-suite positions, internal audit, and presentation at local management committees and representation of local perspectives in global group forums.
As a subject matter expert, contributes to the development of policy, process, risk rating models, and other issues related to the operation of the counterparty credit portfolio, with reference to the Director and/or CRO as required.
No direct reports; provides guidance and mentoring to other team members.
Education / Experience / Other Information
- Requires an undergraduate degree in Business, Finance or equivalent at a minimum. Preference will be given to candidates who have relevant technical/professional qualifications.
- Previous experience in a credit risk role (second line of defence) is essential (min. 5-7 years). Preference will be given to candidates with direct experience covering financial counterparties.
- Strong relevant knowledge of the credit risk profile and credit risk measurement of capital markets products.
- Strong communication skills; ability to debate the merits and vulnerabilities of a credit application, providing recommendations as appropriate.
- Knowledge of the financial sector and the main business activities of financial institutions, and ability to keep abreast of the changing accounting, legal and regulatory landscape.
- Ability to keep up-to-date with new products and developments in financial services markets.
- Understanding of derivative products, sovereign (cross border) risks, deal structuring, due diligence & documentation, legal & accounting principles.
- Knowledge of the Irish and EU regulatory environment.
- Excellent interpersonal and relationship-building skills to deal with all levels of staff and senior levels of management.
- Advanced IT skills adaptable to a number of systems and applications.
Work in a standard office-based environment. Peak demands may require additional work outside normal working hours from time to time to meet deadlines or interact with the Bank’s offices globally (primarily with Toronto). Limited travel globally