Credit Risk Management - Governance Team AVP

Sumitomo Mitsui Trust Bank Limited New York Branch; New York (NY); On-site; USD 65,000 - 150,000; Full time

Job summary

Bank of China in New York seeks a Credit Risk professional to lead loss estimation, monitoring and reporting across the credit portfolio. You will coordinate with model and data teams to refine methodologies and ensure accurate risk metrics and compliance with CECL/IFRS9 standards.

The role requires a Bachelor's in Finance/Economics/Accounting, 4 years of credit risk experience, and strong accounting knowledge.

Qualifications

• Bachelor's degree required, preferably in Finance/Economics/Accounting.
• MBA preferred.
• 4 years of Credit Risk Management experience required.
• CECL and IFRS9 knowledge required.
• Experience in accounting, financial data and risk reporting.
• CPA/CFA/FRM is preferred.

Responsibilities

• Lead estimation for credit loss allowances in line with CECL/IFRS9.
• Prepare and review internal reports on credit losses for senior management and regulators.
• Collaborate with model and data teams to improve analytics.
• Maintain ACL policies and procedures and ensure regulatory compliance.
• Coordinate with credit officers, finance and accounting on loss estimation.
• Assist in regulatory liaison and audit responses; manage remediation progress.

Skills

Credit risk management

CECL knowledge

IFRS9 knowledge

Regulatory reporting

Accounting knowledge

Education

Bachelor's degree in Finance/Economics/Accounting

MBA preferred

CPA/CFA/FRM preferred

Job description

Established in 1912, Bank of China is one of the largest banks in the world, with over $3 trillion in assets and a footprint that spans more than 60 countries and regions. Our long-term outlook, institutional weight and global breadth provide our clients with a stable and reliable financial partner, whether in Corporate or Personal Banking or our Trade Services, Commodities, Financial Institutions and Global Markets lines of business. The position will conduct varies of credit risk management duties, focusing on the credit portfolio analysis and risk reporting. Include but are not limited to

Allowance for Credit Losses Management

• Lead the estimation process for credit loss allowances, ensuring accuracy and adherence to accounting standards (e.g., CECL, IFRS 9)
• Prepare and review internal reports and presentations related to credit losses for senior management and regulatory bodies
• Collaborate with model team and data team to refine methodologies and improve predictive analytics
• Establish and maintain policies and procedures for credit loss estimation and reporting
• Ensure compliance with regulatory requirements and internal controls related to ACL
• Work closely with credit officers, finance, and accounting teams to ensure alignment on credit loss estimation processes and assumptions

Credit Risk Monitoring and Reporting

• Monitor the Bank's credit risk profile, including but not limited to asset quality, change of portfolio composition, concentration, rating migration and changes of loan provisions; work with CRM's internal team to ensure correct calculation and reporting of credit risk metrics
• Monitor and prepare report regarding adherence or breach to risk metrics; Maintain liaison with Head Office for effective communication and responsible for channeling loans that require HO approval
• Prepare credit risk reports to committees on monthly basis to Credit Risk Committee, to Risk Management and Internal Control Committee and the Board meeting quarterly
• Prepare portfolio report and analysis including but not limited to Key Risk Indicators, exposure, credit rating, concentration and exception management
• Provide periodic report to Head Office, including but not limited to asset quality report, credit risk report, credit counterparty risk report, major event report etc.

Credit Risk Policies and Procedures

• Enhance existing credit policies and procedures in line with industry practice, regulatory guidance and guidance from Head Office

Regulatory and Audit Liaison

• Assist in the Bank's communication with regulators and/or auditors regarding credit related issues
• Coordinate internal/external audit or regulatory examinations, assist the Bank to prepare and respond to requests and questionsManage remediation process, including proposing action plans and track remediation progress

Risk Committee Secretary

• Propose meeting agenda
• Prepare and compile meeting materials
• Prepare meeting minutes
• Bachelor's degree is required, preferably in Finance/Economics/Accounting major; MBA preferred
• 4 years of Credit Risk Management experience required
• Experiences in any of two areas accounting/CECL/IFRS9, financial data/call report, management level credit risk reporting, programming or policy writing are required
• CECL and accounting knowledge is required
• CPA/CFA/FRM is preferred
• Demonstrate knowledge in accounting

USD $65,000.00 - USD $150,000.00 /Yr.