Risk Manager - Commercial Rating and Underwriting

Location
London (City of), London (Greater)
Salary
Competitive
Posted
07 Jun 2019
Closes
18 Jun 2019
Contract Type
Permanent

Don’t just work for a market leading global company. Help grow one. 

Overview of The Department

Commercial Rating and Underwriting (CRU) sits within the Credit & Fraud Risk division and forms the institutional credit risk management function within American Express. The CRU team plays the critical role of assessing and managing the risk of institutional exposures across all business units within American Express, and in all regions globally.  Credit exposures are primarily generated through corporate and small business card programs, working capital facilities,  via merchant service relationships where non-delivery risk exists, and among the securities portfolio held for firm-wide liquidity.  CRU is led from Salt Lake City with regional teams in New York, London, Singapore, Gurgaon and Sydney.

In addition to determining the internal credit rating which drives the probability of default of each exposure, CRU also calculates the loss given default of these obligors while underwriting card programs. As a bank holding company, American Express must comply with the highest global banking standards set by Basel and implemented by the bank’s primarily regulatory, the Federal Reserve.  

Managers in CRU are responsible for rating and underwriting credit exposures in their assigned region, industry, and business line.  Fundamental analysis incorporates a thorough review of business, financial, industry and country risk coupled with support from internal and external rating model outputs.  Assessment includes understanding of the need for credit extension, profitability of the relationship and program structures. CRU managers interact with various constituents across the firm including front office sales, business unit risk partners, and credit administration to perform their critical role.

Offer of employment with American Express is conditioned upon the successful completion of a background verification check, subject to applicable laws and regulations.


Required skills:

  • Expertise as a credit and underwriting decision maker dealing with commercial exposures ranging from small business or middle-market to large, multinational institutions
  • Thorough understanding of fundamental financial analysis including the ability to review corporate financial statements to determine the ability of the obligor to honor its credit obligations
  • Comfort with GAAP/IFRS accounting  standards, corporate valuation, and forecasting
  • Knowledge of  how probability of default and loss given default determine economic capital
  • Experience in determining appropriate credit capacity, structuring of facilities, and risk mitigation techniques
  • Familiarity with quantitative credit models (such as Moody’s  RiskCalc, CreditEdge, etc) and knowledge of how to interpret the outputs, and when deviation from the model has appropriate defense
  • Comfort with public agency ratings and supporting analysis
  • Understanding of current macroeconomic trends and how to provide recommendations to improve the PD estimation based on the business cycle
  • Experience preparing company-specific and industry-wide credit memorandums
  • Excellent judgment in making sound rating and underwriting decisions to maximize profitability and mitigate risk
  • Familiarity with banking regulations, particularly those imposed by Basel Committee on Banking Supervision
  • Familiarity with global markets
  • Fluency in a second Western European language is a plus.
  • Specific industry expertise in travel (airlines, cruiselines, hospitality), financial institutions, or public finance
  • Experience in rating and / or underwriting at a leading financial institution or rating agency


Why American Express?

There’s a difference between having a job and making a difference.

American Express has been making a difference in people’s lives for over 160 years, backing them in moments big and small, granting access, tools, and resources to take on their biggest challenges and reap the greatest rewards.

We’ve also made a difference in the lives of our people, providing a culture of learning and collaboration, and helping them with what they need to succeed and thrive. We have their backs as they grow their skills, conquer new challenges, or even take time to spend with their family or community. And when they’re ready to take on a new career path, we’re right there with them, giving them the guidance and momentum into the best future they envision.

Because we believe that the best way to back our customers is to back our people.

The powerful backing of American Express.

Don’t make a difference without it.

Don’t live life without it.

To complete your application please click on the links below. However, if you require any assistance with the completion of this process – or need any reasonable adjustments to be made – then please contact the Recruitment Team on recruitment.support.uk@aexp.com or 00800 83 000038 (for Russia based candidates 810 800 83 000038).

ReqID: 19010675
Schedule (Full-Time/Part-Time): Full-time

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