The new role is to lead the revision of the design and sustainable execution of the Risk-wide governance (policies, standards, procedures, guidelines; roles and responsibilities for the 1st and 2nd line) frameworks for the Current Expected Credit Losses (CECL) area. The CECL framework revision is executed out of the Finance CRO organization and is subject to significant regulatory requirements (FRB and OCC Interagency Final Rule and Interagency Policy Guidance).
The role organizes and leads analysis of regulatory requirements under significant regulatory guidance and accounting standards, and development and implementation of policies, standards, procedures and guidelines for CECL / credit reserves calculation including scenario development, governance (review and approval) by firmwide and business bodies for wholesale and retail credit, implementation in the model analytics, generation of credit loss numbers (including overlays, as necessary) and review and sign off on the loss reserves by senior Risk and Finance leadership. Key Responsibilities:
Key Requirements and Qualifications:
- Organize and lead analysis of regulatory requirements and development of a CECL framework for wholesale and retail credit losses. The related activities include:
- comprehensive identification and line-by-line analysis of relevant regulatory requirements
- development and maintenance of policies and supporting frameworks including standards, procedures, guidelines and templates
- socialization, formal reviews and approvals of the policies and standards in adherence to the firm wide Policy Governance Policy
- communication, implementation, training, change management and maintenance for the policies and frameworks
- presentation and interpretation of the policy requirements across the execution team within Finance CRO, ICG CRO and GCG CRO, as well as the external stakeholders including Finance, regulators, external and internal audit
- collaboration with the internal control and assurance functions to develop and implement comprehensive and robust risk control and assurance (management self-assessment) practices
- Oversee the policy contribution to the enterprise risk governance frameworks and regulatory remediation in coordination with governance bodies within the first line and independent risk management units
- Management responsibility for the team of 4, including management of people, staffing assessment and planning, performance evaluation and compensation.
- 12+ years of experience including significant exposure to analytical methodologies and modeling frameworks for risk measurement of wholesale and/or retail credit and establishment of risk and control processes in top-tier global financial institutions. Hands-on experience with regulatory compliant enterprise policy, standards and procedures development and driving their implementation
- Thorough understanding of regulatory requirements for risks and controls including risk governance, risk measurement, monitoring and reporting, and independent review and challenge
- Excellent written and verbal executive level communication skills with the ability to articulate complex problems and policy interpretations through concise and clear messaging to regulators, audit and senior management
- Highly motivated with attention to detail, team oriented, organized, pro-active
- Ability to assess complex issues through root cause analysis and other analytical techniques; structure potential solutions; drive to resolution with senior stakeholders
Job Family Group:
- Advanced degree (Masters) in business administration, economics or finance a plus
Risk ManagementJob Family:
Regulatory Risk Time Type:
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