Credit Risk Specialist III

Calculate the Allowance for Credit Losses (ACL) and Credit Risk SEC reports. Accountable for ACL model development, documentation, implementation, and performance testing.

Custodian of Credit Risk Models (Risk Rating, Market Ratings, RAROC, etc.). Prepare monthly and ad-hoc Credit Risk reports.

Responsibilities :

• Oversee and calculate the ACL according to the approved methodology, which requires compiling all needed information from credit related units, downloading loan portfolio data and preparing the required reports.
• Update the ACL loss factors (prepayment, WARM, Vintage, qualitative adjustments and transfer risk factors).
• Assists in CECL’s ACL model performance and validation testing, and ensures Model documentation is up to date.
• Custodian of Credit Risk Models such as Risk Rating, Market Rating, and RAROC. Responsible for implementation, validation, and documentation of the models.
• Prepares Credit Risk SEC, OCC and other regulatory reporting. Ensures that reports reconcile with Financial Reporting reports.

Liaison between Credit Risk and Financial Reporting for the purpose of coordinating all regulatory reporting.

• Updates and maintains monthly Credit Risk data used by the department to prepare the required reports, track loan portfolio performance, and ACL adequacy, among other credit risk functions.
• Prepare quarterly Credit Risk presentations for the Executive Committee and Board Risk Committee. As well as Ad-hoc presentations and reports.
• Assist in defining the Bank’s Credit Risk profile and appetite. Monitoring arising risks and recommending mitigating strategies.
• Reviews and reports on credit risk indicators, including Enterprise Risk Management indicators.
• Coordinates the charge-off approval process (not including operational related losses) and maintains Charge-offs and Recoveries files for Credit Risk reporting.
• Assist in maintaining the Bank’s Credit Risk policy as deemed necessary.
• Develop and update the Credit Risk Department’s procedures manuals as required. Prepare new initiatives / changes presentation for committee approval, arrange for its communication and publication upon approval.
• To identify, evaluate, monitor and make any recommendation deemed necessary to their respective Risk Management Committee in order to assess, reduce, eliminate or control any current or prospective risks to earnings or capital arising from violations of, or nonconformance with, laws, rules regulations, prescribed practices, internal policies and procedures or ethical standards.
• Ensure preventive measures are carried out to fully comply with current rules, regulations and internal policies relating to risks pertaining to BSA, USA Patriot Act, OFAC and other AML related issues.

Minimum Education and / or Certifications Requirements :

Bachelor’s degree in finance, Economics or Accounting. Master’s degree in business or related field desirable.

Minimum Work Experience Requirements :

3 to 5 years of experience in banking, ideally in credit risk modeling, and estimating CECL’s Allowance for Credit Losses (ACL).

Technical and / or Other Essential Knowledge :

• Technical and / or Other Essential Knowledge :
• Expertise at using Excel : lookup tables, pivot tables, charts, macros.
• Strong analytical and financial modeling skills.
• Excellent communication skills (written and oral). Expertise in PowerPoint and Word
• Ability to work under pressure (tight deadlines and shifting priorities)
• Good interpersonal skills
• Fully bilingual (Spanish and English) desirable.
6 days ago