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Auditor II
Auditor IILanceSoft • Jersey City, NJ, United States
Auditor II

Auditor II

LanceSoft • Jersey City, NJ, United States
[job_card.30_days_ago]
[job_preview.job_type]
  • [job_card.full_time]
[job_card.job_description]

Title : Credit Risk Review

Location : Jersey City NJ 07310 (Hybrid)

JOB DESCRIPTION :

  • Participating in reviews of credit and counterparty risk across the CIB platform to detect and report on potential weaknesses in the credit approval and monitoring process. Results of reviews, including recommendations for improvement, are documented in written reports to senior management.

Portfolios covered include Corporate Banking, Project Finance, Media & Telecom, Leveraged Finance, Asset Securitization, Hedge Funds, Insurance, Banks, and Broker / Dealers.

  • Acquiring a solid understanding of the reviewed activities and specific industry risks.
  • Assessing adequacy and effectiveness of governance, management, and controls of credit risk.
  • Performing in-depth reviews of individual credits to assess credit quality and validate the accuracy of the assigned counterparty risk ratings and loss given default rates and recommending changes, as necessary.
  • Individual credit reviews require thorough but succinct written credit analysis demonstrating an understanding of the following :

    Obligor's business and structure

  • Nature of facilities extended by the bank (ranging from plain-vanilla corporate loans to highly complex loan and derivative products) and exposure thereunder
  • The bank's position in the capital structure
  • Expected source of repayment
  • Collateral
  • Legal documentation
  • Obligor's financial condition (profitability, balance sheet strength, cash flow and liquidity profile)
  • Ratings validations require :
  • Thorough understanding of relevant rating methodologies

  • Re-performance of ratings assessment
  • Assessing the quality of credit analysis performed by the business groups and the risk department and the quality of the underwriting.
  • Ensuring that work is documented and communicated to stakeholders within an organized and prescribed framework.
  • Evaluating compliance with regulatory guidelines and bank policies.
  • Evaluating complex financing transaction structures and capital markets products (including swaps, options, futures, derivatives and securitizations) and the associated risks and mitigants.
  • Identifying actual and potential problem exposures.
  • Evaluating the appropriateness of the level of provisions for impaired credits. Assessment of provisions involves challenging assumptions and re-performing discounted cash flow analysis, if warranted
  • Assessing conformity of legal documentation and quality of supporting security (collateral).
  • Adding value to the area under review by raising relevant recommendations.
  • Writing quality reports with appropriate recommendations in plain English.
  • Delivering clear presentations to management.
  • Minimum Required Qualifications :

  • Bachelor's degree in Accounting or Finance
  • MBA or CPA (or equivalent) or CF plus.

  • 5 to 10 years financial services work experience in credit extension, underwriting, review, or analysis.
  • Strong credit analysis skills with a solid understanding of the credit process and control. Knowledge of leveraged lending and the regulatory guidance thereon would be a strong plus.
  • Strong MS Excel and Powerpoint skills
  • Strong writing, verbal, and interpersonal skills
  • Must be comfortable discussing findings and making recommendations with the appropriate balance of tact and professional assertion. Audience includes all levels members of management, including senior management.

    Preferred Qualifications :

  • A mix of credit review, risk department and origination experience would be ideal, but significant experience in one of these areas will also be considered.
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