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Head of Credit Risk

Posted 7 February by KennedyPearce Consulting Easy Apply Ended

Our client, a leading Commodity Broker based in the City are looking to recruit a Head of Credit Risk. You will be responsible for leading the Credit Risk Management function within the business, providing efficient and effective management with regard to the responsibilities of the department as well as promoting an environment of continuous improvement & adherence to best practice.

Main responsibilities will include;

  • Provide strategic direction for the department with a clearly articulated programme for continual improvement
  • Act as a mentor and advisor to the credit risk team and as an ambassador for the function to all areas of the firm as well as to clients
  • Enhance existing and/ or implement new credit risk policies, procedures and processes to drive the department forward and ensure adherence to best practice
  • Provide subject matter expertise to all parts of the business, forming enduring relationships and acting as a trusted advisor to reinforce the firm's ability to effectively service clients
  • Effectively manage all credit exposure risk monitoring against the stated risk appetite of the Board and all relevant risk limit metrics, with timely escalation as appropriate
  • Sanction all credit decisions that fall within the Head of Credit Risk's authorisation levels, communicating all relevant items to the Enterprise Risk Head and CRO as appropriate
  • Present credit risk assessments and recommendations to the Credit Committee for approval
  • Carry out all line management duties for credit risk team including; objective setting, on-going assessments, performance appraisals and development of specific training requirements for each team member
  • Act as ultimate quality control agent for all deliverables for the function ensuring the highest quality output and a product that is second to none
  • Identify, document and plan remediation actions for operational aspects of department processes or systems, liaising closely with Operational Risk. Manage book of work for systems development items ensuring timely delivery of identified objectives
  • Maintain continual focus on market methodological developments with regard to portfolio credit risk measurement and management techniques and ensure adoption of relevant facets
  • Responsibility for development and maintenance of the internal credit rating system and benchmarking to external agencies
  • Qualitative and quantitative analysis of all current and potential clients & counterparties including; Corporates, Financial Institutions, CCP's & State Owned Enterprises to determine an internal credit risk rating and make recommendations regarding exposure limits and credit applications.
  • Continual focus on global macro-economic environment with understanding of specific country factors and impact of those factors on the credit risk assessment with regard to clients & counterparties incorporated or operating in those countries
  • Client visits, as required, both domestic and international locations
  • Management information reporting where relevant on a periodic and ad hoc basis
  • Other tasks / duties as required

Ideal candidates must have the following experience and skills to be considered for this position;

Essential

  • Ability to communicate with confidence and in a manner appropriate to the audience, from junior level colleagues to C-Suite executives within the firm as well as a diverse external client base
  • Strong presentation technique and experience communicating to senior management forums
  • Corporate credit analysis experience gained ideally through an investment banking or institutional brokerage background
  • Track record in forming well researched conclusions on credit assessments including; internally modelled credit ratings and recovery potential in the event of default
  • Experience of reviewing clients that operate in the Commodities sector
  • Understanding credit risk inherent in granting credit facilities to cover the margin requirements (initial and variation) of futures and options
  • Effective report writing skills with an ability to distil complex information to a 'key risks' summary to enable management decision making
  • Proven ability to lead a highly effective, high profile team in a fast paced environment
  • Strong troubleshooting and analytical skills coupled with an ability to work efficiently under pressure
  • Knowledge of security/ collateral documentation such as guarantees, standby letters of credit, tripartite agreements etc

Desirable

  • Experience with portfolio credit modelling techniques & model parameters (PFE, PD, RR, LGD)
  • Experience of commodity trade finance, particularly inventory financing would be beneficial

Reference: 34418704

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