VP, Credit Risk Management

Fortitude Re•Jersey City, NJ

5d•Hybrid

About The Position

The VP, Credit Risk Management , is a key position reporting directly to the SVP, Credit Risk Officer. The VP is responsible for leading key elements of the development and implementation of a comprehensive credit risk management framework and strategy that aligns with the company’s objectives and risk appetite. This includes providing subject matter leadership in the oversight of credit risks associated with investment portfolios and counterparties, development and validation of quantitative risk management methodologies, and playing a crucial role in identifying, assessing, and mitigating the risks involved. The individual will have recognized expertise to enable cross-functional collaboration and influence on senior decision-making with Investments, Treasury, Actuarial/Pricing, and Legal.   This role will be based in our Jersey City, NJ office on a hybrid basis.

Requirements

Bachelor's degree required; advanced degree preferred in Finance, Economics, Risk Management, or a related field.
At least 10 years in financial and credit risk management within insurance, reinsurance, banking, or asset management.
Strong understanding of financial markets, investments and credit underwriting, trading activities, and risk modeling techniques.
In-depth knowledge of regulatory requirements related to investments risk management.
Excellent analytical and quantitative skills, and in-depth asset class knowledge across all major fixed income markets including corporate bonds and loans, residential and commercial real estate, consumer lending, structured products, and private credit.
Strategic thinker with the ability to translate strategy into actionable plans.
Strong communication and interpersonal skills, with the ability to effectively engage with and influence internal and external stakeholders.
Results-oriented and able to drive initiatives to completion.
Adaptable and able to thrive in a dynamic and fast-paced environment.

Responsibilities

Strategy and Governance Support the strategic direction for the Credit Risk function, aligning risk management strategies with the company's objectives.
Assist in developing and implementing an enterprise-wide credit risk management framework, policies, and procedures, in alignment with the company’s overall risk appetite and financial risk framework.
Prepare regular reports to management and board risk committees on credit exposures, portfolio performance, and emerging risks.
Stay abreast of industry trends, emerging risks, and innovations in credit risk management.
Stay informed on evolving regulations and standards that may impact credit risk.
Identify opportunities to enhance risk management processes and tools.
Contribute to a collaborative, inclusive, and innovative team culture focused on achieving organizational goals and continuous learning.
Credit Risk Management and Oversight Assist in the identification, assessment, and management of credit risk within the company's investment portfolios, and with our derivatives, financing, reinsurance, and other counterparties.
Partner with the Investments team to review new investment products and strategies, new transactions, and new investment managers and mandates.
Develop, enhance, and implement credit risk limit frameworks designed to manage credit concentration risks within the parameters established by the company’s risk appetite framework and required by external stakeholders.
Partner with the Investments team to perform regular portfolio surveillance and credit review, implement robust risk assessment methodologies to identify potential vulnerabilities, and develop strategies to mitigate risk exposure.
Provide credit risk inputs to assist the Investments team with asset allocation, portfolio construction, and relative value analysis.
Lead engagement with the Treasury, Trading, Actuarial, and Reinsurance teams to develop credit risk measurement, monitoring, and limit frameworks suitable for Derivative, Financing, and Reinsurance counterparties.
Risk Reporting Support the development and enhancement of surveillance protocols including watch list, ratings, material changes, and targeted portfolio reviews of high impact asset classes.
Utilize analytics to provide insights into risk exposures and support decision-making processes.
Monitor investment limits and review exceptions and remediation plans.
Prepare regular reports to management and board risk committees on credit risk exposures, trends, portfolio performance, and emerging risks.
Assist in credit risk-related regulatory reporting and liaise with regulators as required.