Managing Director responsible for Counterparty Credit Risk functions at Webster Bank. Leading stress testing, risk management, and compliance initiatives across multiple locations and teams.
Responsibilities
Direct management and continuous improvement of Counterparty stress testing platform (FIS Adaptiv) to produce daily PFE calculation (SA-CCR, MPoR, XVA), required for effective limits management; manage quarterly credit stress testing under various market scenarios.
Assist in managing the day-to-day counterparty limit monitoring process by tracking risk metrics vs. approved limits, addressing limit breaches, and following up on remediation efforts with front-line teams, across various trading desks.
Analyze potential wrong-way risk, stress scenarios, and concentration risks across traded products.
Manage DFAST and Reg. F reporting and monitor market developments, regulatory changes (e.g., Basel III/IV, SA-CCR) and emerging counterparty risks.
Along with SMD for Counterparty, develop, enhance, and actively leverage the surveillance program as early warning indicator of deteriorating credit and financial performance of counterparties.
Partner with Credit Risk Reporting teams to enhance existing scorecards, metrics, and models to ensure risks are appropriately captured.
Effectively communicate with team members, senior risk management, and audit on strategies related to open issues, testing results, corrective measures, and closure of audit/regulatory issues.
Underwriting and other responsibilities, as needed.
Requirements
Bachelor’s Degree Required-Business, Finance, Accounting or Economics preferred.
7-10 years of related experience in counterparty credit risk, stress testing, or trade product risk within a global bank or financial institution.
Technical expertise with FIS Adaptiv, or similar Stress Testing platforms, as well as ability to incorporate data and create analytical reports from various external sources (S&P Market Intelligence, Bloomberg, Moody’s, Fitch, etcs…)
Deep understanding of FX, derivatives, securities lending, repo, insurance companies (BOLI), broker/dealers and structured finance products.
Demonstrate subject matter expertise in SA-CCR, SR 11-10, OCC Heightened Standards, derivatives, insurance, DFAST and Reg. F reporting.
Strong grasp of legal documentation (ISDA, CSA, GMRA, GMSLA) and enforceability.
Excellent communication and presentation skills, with the ability to influence.
Ability to prioritize work to meet deadlines and work both independently and within a team structure.
Experience working on Large Financial Institutions (LFI) transformation initiatives, preferred.
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