US Head of Credit Risk Management - Wealth Management

Deutsche Bank • New York, NY

1d • $350,000 - $450,000 • Hybrid

About The Position

The Chief Risk Office (CRO) function has Group-wide responsibility for the management and control of all credit, market, operational, enterprise and liquidity risks. It is responsible for the continual development of methods for risk measurement, frameworks, and creating a bank-wide strong risk culture. Deutsche Bank's Wealth Management (WM) business is one of the largest wealth managers worldwide, offering clients a broad range of traditional and alternative investment solutions, as well as comprehensive advice on all aspects of Wealth Management. The role will have direct reporting to the Global Head of Credit Risk - WM. The Regional (US) Head of Credit Risk Management (CRM) WM will be responsible for reviewing and approving transactions booked under the WM business in the US and supporting the growth of WM’s lending book in the US. Portfolio coverage will include large commercial real estate transactions, structured loans (including lending against illiquid securities requiring fundamental equity/collateral valuation including DCF-based analysis), and regular Margin Lending (against liquid securities), and Capital Call facilities.

Requirements

• Extensive relevant work experience in corporate / investment banking credit and structured finance in major International Financial Institutions.
• Understanding of Wealth Management lending products (esp. Commercial Real Estate).
• Good understanding of loan structures, loan documentation, and knowledge of structured financial products, derivatives and associated risks.
• Relevant work experience (preferably with US counterparties / US market) that helps provide timely, meaningful feedback.
• Proven track record in working with front office to improve deal structures to protect the organization.
• Strong communication skills (both written and verbal skills) with an ability to write concise reports.
• Have an open mindset, respect challenging views from different stakeholders and serve as an independent decision-maker with ability to support or defend conclusions.
• Ability to work effectively with wide range of personal styles and to establish strong partnership with front office staff.
• Team oriented, flexible, diligent, self-motivated and willing to lead and train; someone who aspires to raise the bar.
• Ability to work under pressure and deadlines as well as working with front-office staff in amicable manner.

Nice To Haves

• Bachelor’s or Master’s degree in Engineering, Mathematics, Economics, Statistics, Science, MBA or equivalent qualification.

Responsibilities

• Review and approve transactions booked under the WM business in US and judiciously support the growth of WM’s lending book in US.
• Interface directly with front office staff on credit approvals, credit requirements and relationship matters; interface with clients (where required).
• Work with the Lending team (1st line of defense) and Relationship Managers to manage risk and try to find an optimal solution especially on challenging asks.
• Provide timely, transparent communication on the decision-making including risk analysis and approval conditions to the key stakeholders.
• Robustly monitor the portfolio and ensure pockets of risks within the portfolio are timely identified - be well aware of global, regional and local market events and their potential impact on the portfolio.
• Ensure portfolio quality remains satisfactory and any risk concentrations and risk limits do not exceed defined risk appetites and are compliant with risk policies and regulations.
• Work with both internal and external auditors as well as regulators to ensure that audits progress smoothly and that any issues raised are resolved promptly.
• Maintain a clean shop with good discipline ensuring trades are properly booked / recorded / covenants and conditions timely monitored / credit terms correctly documented / risk reporting systems contain timely and accurate information.
• Support any ad hoc projects assigned on a regional or global level.
• Invest time to provide guidance and on the job training esp. to the less experienced members of the team to enable them to be able to independently assess, constructively challenge, run with the transactions and prepare well-articulated credit memos (including helping them develop the skill to write succinctly).

Benefits

• Access to physical, emotional, and financial wellness benefits
• Reasonable accommodations to candidates and employees with a substantiated need based on disability and/or religion.

What This Job Offers

• Job Type: Full-time
• Career Level: Executive