BNY Mellon Careers

Senior Group Manager, Credit Risk - Head of Credit, European Bank/ Credit Risk Director, European Bank

Brussels, Belgium; Luxembourg, Luxembourg; Netherlands; Frankfurt, Germany; Dublin, Ireland
Risk


Job Description

POSITION SUMMARY:

 

The position will be located in Brussels Head Office and will lead a team of Credit Analysts and

Large Exposures Managers. S/he will represent Credit Risk Management in the different Governance bodies of the European Bank (EB).

 

A senior member of the Global Credit Risk Management function, the incumbent will be responsible for ensuring that the policies, procedures, tools, risk appetite and methodologies of the Global Credit Risk Management Operating Model are fully implemented in the EB. Of equal importance will be the responsibility to ensure that the credit risks in the EB are fully understood and accepted by the Legal Entity (LE), that any LE specific credit risk management framework is implemented and is aligned with the Global model and that all applicable regulations are complied with

 

Primary responsibilities will be to:

  • Manage, monitor and measure credit risk in the EB as well as the development and continuous enhancement of the EB's credit risk management framework in line with domestic and international business and regulatory requirements.

  • Direct team of professional staff and more junior managers responsible for completing the data analysis, reporting, risk approval and process improvement activities of the Credit Analysis & Reporting, Operational Credit Risk, Counterparty Credit Risk (Primary, Pre-settlement & Settlement), Issuer risk, Concentration Risk or Credit Administration discipline.

  • Implement the overall discipline strategy and policies as they apply to the assigned team(s), and contribute to plans and programs to implement changes and improvements.

  • Complete discipline strategy changes to further improve compliance or become compliant with organizational policies and regulations.

  • Continue to build knowledge of differences in local and regional laws, policies and regulations.

  • Responsible for ensuring strategy changes for the assigned credit risk discipline are appropriately implemented in a timely manner across business units, impacted legal entities and branches.

 

PRIMARY RESPONSIBILITIES:

 

Credit approvals, administration and monitoring (50% of estimated time)

 

Credit Analysis & Approval/Portfolio Management:

  • Manages the European Bank Credit team responsible for completing analyses of credit portfolio quality related to the European Bank

  • Owns and is accountable for the acceptance of credit limits related to European Bank and so must demonstrate a high level of competence in credit analysis, rating and risk quantification methodologies, exposures management, credit mitigation strategies, Master Agreement and Custody documentation terms and transactional approval across multiple obligor types

  • Above a defined threshold:

    • Explicitly accept credit limits booked to the EB

    • Monitor and approve (when deemed acceptable) any excesses compared to the agreed limits

  • Establishes the EB’s credit risk Reporting strategy in alignment with the global Reporting strategy and in partnership with applicable senior leadership. 

  • Provides timely challenge and approval for transactions originating from the lines of business within defined parameters as per Credit Risk and EB policies and procedures.

  • Ensures the accuracy of documentation produced by the team.

  • Regularly participates in meetings with clients, other banks and senior peers within the industry.

  • Responsible for the information/MI sent to the EB’s Credit Risk Oversight Committee

Operational Credit Risk:

  • Manages the EB’s Operational Credit team responsible for completing credit processing and assessment activities, including credit analysis, underwriting,  transaction review and approval of intraday credit with the out of hours support of the global team

  • Actively engages with the Regional and Global Operational Credit teams to ensure consistency of approach and client outcomes

  • Establishes the Operational Credit Risk strategy for the European Bank in partnership with applicable senior leadership.

  • Sets EB specific policies, procedures, requirements and standards for approving and overseeing credit processing and assessment activities in line with the Global model and with the guidance of the Regional and Global SME teams

  • Ensures the accuracy of credit processing and assessment activities and the work completed by more junior managers. 

Country Risk:

  • Engages with team(s) of professional staff and more junior managers (domestic and/or global), outside of the European Bank, responsible for grading the credit quality of a large, highly complex country.

 Issuer Risk:

  • Manages the EB Credit team responsible for the analysis and monitoring of the credit quality and concentration risk in a diverse portfolio of investment assets.

  • Establishes the relevant strategy and process for accurately and effectively tracking the credit condition of these assets.

  • Provides SME input to the development of investment guidelines in partnership with applicable senior leadership.

  • Engages with relevant Group stakeholders to ensure proper oversight on issuer risk analysis

  • Develops a framework for the prudent management of the issuer risks in the EB.

 Counterparty Credit Risk :

  • Engages with team(s) of professional staff and more junior managers (domestic and/or global), outside of the EB, responsible for the overall monitoring of FX related activity

  • While leveraging on the teams existing outside the bank, owns and is the primary contact point for any FX Credit Risk matter in the European Bank and drives the EB specific framework around this risk type

European Bank’s Credit Risk Framework (20% of estimated time)

 

Credit Administration:

  • Manages the EB’s Credit team responsible for developing the LE specific credit policy manual and for responding to audit inquiries. Helps to ensure the team's timely completion of credit reviews, credit applications and other related activities for various credit portfolios.

  • Responsible for the preparation of credit proposals, documentation and financial analysis, to be presented at EB Credit Risk Oversight Committee.

  • Responsible for guiding and developing less experienced team members and assigning tasks.

  • Improvement of the current EB framework, to include the setting up of clear mandates for approvals (European Bank limits to be calibrated to own internal capacities), a gradual increase of Nexen Implementation into the European Bank, and effective implementation within the EB of the GFC Enhancement Project (intraday credit)

  • Annual review and update of the EB’s Credit Risk Policy and maintain an inventory of all Group-wide policies applicable to the European Bank, (Support annual review of applicable Group policies) and in the creation of  specific policy/procedure if deemed necessary

  • Participation to the New Approval Process

  • Engages with Global Credit team to maintain the right level of outsourcing landscape (outsourcing oversight meetings, SLD monitoring)

Management of the European Bank’s Large Exposure team (10% of estimated time)

  • Manages the European Bank Large Exposure team, responsible for

  • Daily identification, monitoring, measurement, aggregation, analysis, control and reporting g of EB exposures/credit risk concentration to single counterparties or to group of connected counterparties in compliance with the EU regulations.

  • Overseeing and challenging the 1LoD’s identification, assessment and management of large exposures risks.

  • The provision of SME input in the resolution of Large Exposures issues including (quantitative) impact analysis, on internal system development and governance matters.

  • Provision a thorough Large Exposure Risk assessment prior to new product onboarding to guarantee regulatory compliance.

Contact with Regulators – Management of Regulatory items (10% of estimated time)

  • The incumbent will become the primary contact point with the different regulators for any Credit related matters, including the follow-up of any regulatory requests.

  • May be in contact with senior regulators and government officials; appropriately escalates high impact issues raised by these contacts to management. Independently addresses issues with a moderate risk level and potential financial impact to the organization.

Governance - HR management (10% of estimated time)

  • Represents Credit in the different governance bodies of The Bank of New York Mellon Corporation’s European Bank

  • Recruits, directs, motivates and develops more junior managers, maximizing their individual contribution, their professional growth and their ability to function effectively with their colleagues as a team and/or lead. Provides feedback at the most critical times.

  • Helps to improve the quality of work completed by less experienced team members and assigns tasks.

LEADERSHIP

  • Manages teams of Credit Analysts and Large Exposures Managers located in the European Bank

 JOB SCOPE

  • Responsible for the achievement of goals and objectives of the European Bank. Ensures EB and Global resources are equipped to operationalize and attain European Bank objectives. Ensures appropriate financial and human resource allocation.

  • Contributes to the elaboration of the European Bank’s strategy in relation to Credit Risk and derives from it the Risk Appetite with the support & SME input of the Global team

  • Manages the Credit Risk profile of the Bank taking into account the global strategy and of the derived Risk Appetite of the EB.

 

Qualifications

Education

 

Bachelor’s degree in accounting, finance, economics or related technical discipline, or the equivalent combination of education and experience is required. MBA, similar degree, or equivalent experience is preferred.

 

Experience

  • Family Requirements: 12-15 years of total work experience, with 3-5 years of management experience, preferred. Bulk of prior experience/background in credit risk analysis of FI’s/ NBFI’s and traded product approval is essential. In addition, may require the following experience/skills based on primary duties:

  • Discipline Requirements: Credit Analysis & Reporting: Formal credit training preferred. Extensive familiarity with diverse lending, traded product and issuer risk in order to direct team in EB responsible for the completion of these tasks.

  • Operational Credit Risk: Formal credit training preferred. Extensive familiarity with rapid-turnaround, intraday funds transfers and approvals in order to direct team in EB responsible for the completion of these tasks.

  • Credit Administration: Extensive familiarity with credit administration systems typically used by financial institutions in order to direct team In EB responsible for the completion of these tasks.

  • Counterparty Credit Risk: Extensive experience and credit training in the identification, management and monitoring of counterparty credit risk with particular experience of trade approval for Securities Financing & FICC Markets. Strong knowledge and understanding of Counterparty Credit quantitative methodologies In-depth understanding of Master Agreements including skill in negotiated terms

  • Large Exposures: Understanding of the large exposures framework and a working knowledge of current regulations. 

  • Issuer Risk: Formal credit training in the management of Issuer risk in investment portfolios. A sound basis in financial risk metrics and the credit asset class. An understanding of portfolio risk management to ensure individual and aggregate exposures are within risk appetite

Additional Requirements

  • Fluent in English

  • Excellent communication and presentation skills

  • Autonomous, ability to make independent decisions

  • Excellent analytical skills

 


BNY Mellon is an Equal Employment Opportunity Employer.

Primary Location: Belgium-Brussels-Capital Region-Brussels
Job: Risk
Internal Jobcode: 85153
Organization: Risk-HR06016
Requisition Number: 1816490