VP Counterparty Credit Risk Oversight

Wintrust•Rosemont, IL

8d•Onsite

About The Position

Responsibility for the management of counterparty credit risk at Wintrust. Entails management of nonlending exposures to financial institutions, public sector entities, sovereigns and vendors. Position currently reports to the head of counterparty credit risk and insurance, but will ultimately have sole responsibility for the management of counterparty credit risk.

Requirements

7-10 years working within a first line commercial credit analysis team or performing second line counterparty credit risk oversight activities in an Enterprise Risk Management function at a financial institution with experience in financial statement analysis.
Knowledge of and experience with counterparty credit risk management practices, including knowledge of the banking industry and regulation pertaining to safety and soundness and counterparty credit risk management practices, including SR 11-10 (Interagency Supervisory Guidance on Counterparty Credit Risk Management).
Ability to analyze financial statements to identify credit risks and mitigants and to assess trends in capital adequacy, profitability, asset quality, and liquidity/funding management for a wide variety of counterparty types.
Strong knowledge of OTC capital markets products (swaps, FX, repo) and related credit concepts (MtM, PFE) and legal documentation (ISDA, CSA, MRA, etc.).
Familiarity with commercial banking (credit lines, term loans and letters of credit) is desirable.
Excellent verbal and written communication skills.
Must be highly organized and flexible with excellent time management skills.
Proven track record of establishing a proactive, constructive dialogue and partnering with professionals internally and externally.

Nice To Haves

Familiarity with commercial banking (credit lines, term loans and letters of credit) is desirable.

Responsibilities

Oversee the counterparty credit review process and supervise a team of credit analysts.
Manage the credit analysis of financial institutions, sovereigns and vendors, including bulk reviews of insurance companies (life, P&C, mortgage), broker-dealers, sovereigns, and mortgage investors.
Prepare annual credit reviews as needed.
Maintain the department’s credit review schedule and ensure limits and reviews are up to date.
Monitor counterparty credit quality and exposure on an ongoing basis.
Assess credit quality of vendors using Moody’s and S&P models.
Ensure the credit risk management system (Moody’s Credit Catalyst) continues to function properly, including the reporting of limit breaches, and that the system is updated as needed.
Interact with and provide support for a variety of internal business units, including Corporate Treasury, Capital Markets, International Banking, and Wintrust Mortgage.
Coordinate CCR team’s response to internal and external audits and to exercises led by other Corporate Risk Management teams, such as the completion of Risk & Control Self-Assessments.
Ensure that existing counterparties are scanned monthly for compliance with AML regulations (OFAC scanning).
Oversee the counterparty credit risk management framework and ensure corporate policies and operating procedures are reviewed and updated annually.
Update internal credit risk rating matrices for financial institutions (banks, insurance companies, broker-dealers), corporates and sovereigns as needed.
Remain up to date on regulatory guidance and practices related to counterparty credit risk management and keep abreast of current trends in counterparty credit.
Attend industry events as appropriate.
Assist in the development and regular updating of counterparty credit risk management reports and in the development, monitoring and reporting of appropriate counterparty credit risk appetite metrics and KRIs for inclusion in enterprise risk management reporting.