VP Allowance For Credit Losses

Metropolitan Commercial Bank • New York, NY

3d • $200,000 - $230,000 • Hybrid

About The Position

The Vice President, Allowance for Credit Losses (“ACL”) with strong technical expertise, and proven capabilities in model risk management, financial reporting, and data management, will be responsible for developing, maintaining, and enhancing the Bank’s Allowance for Credit Loss framework in compliance with US GAAP and regulatory guidance (e.g., SR 11-7). This position provides exposure to MCB’s Finance function and Management Committee governing the ACL. The VP will be expected to meaningfully contribute to projects and tasks while working closely with teams across the Bank including Accounting, Treasury, Credit Risk, Enterprise Risk, Internal Audit. Specific responsibilities include the continuous evaluation and monitoring of the suitability of the Bank’s third party ACL models, as well as managing the quarterly production cycle that involves data collection, analyzing and challenging key inputs and quarterly results, preparing results for presentation to management committees, peer analysis, and documentation of internal controls.
The successful candidate for this role will be a proactive and analytical individual with a solid understanding of risk management principles, excellent communication skills, and the ability to work collaboratively in a dynamic environment. This role reports to the Finance, Financial Reporting Manager and will be based in New York City.
Standard 4-day in-office requirement, 1 day remote (of your choosing)

Requirements

• Bachelor’s degree in Finance, Accounting, Economics, Statistics, Data Science, or related field.
• 10+ years of relevant financial services experience within a bank or consulting firm.
• Overall understanding of finance and US GAAP accounting principles.
• Financial modeling, analytical, and organizational skills, with keen attention to detail.
• Excellent verbal and written communication skills; and presentation skills, desired.
• Proficient in Microsoft Office focus on Excel, Word & PowerPoint.
• Knowledge of Federal Reserve and other regulatory agency ACL modelling requirements.
• Driven by a passion and curiosity to continuously learn how various technological systems, including AI, can enhance the work that you do.

Nice To Haves

• Master’s degree a plus.
• Experience with S&P Global Capital IQ database preferred.

Responsibilities

• Manage the quarterly CECL ACL process including maintaining production schedule, data collection, monitoring vendor model updates and macroeconomic forecasts, analyzing and challenging quarterly results, preparing results for presentation to executive management, and documentation of internal controls.
• Prepare the CECL Committee materials including documentation of meeting minutes.
• Maintain CECL analysis & reporting spreadsheets and assist in enhancing reporting processes and automation.
• Manage the creation and maintenance of the ACL Policy and desktop procedures.
• Perform continuous evaluation and monitoring of the suitability of the Bank’s third party ACL models. Perform peer analysis and monitor CECL assumptions and key credit quality metrics.
• Ensure compliance with SR 11-7, CECL, and other regulatory guidance.
• Interface with model risk validation, internal and external auditors, and regulators performing reviews and control testing over the CECL Allowance process.
• Prepare ad hoc financial analyses and reports as needed to support decision-making.

What This Job Offers

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