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Head of Enterprise Wide Risk Management NY


Vacancy details

General information

Entity

Crédit Agricole CIB is the corporate and investment banking arm of Credit Agricole Group, the 13th largest banking group worldwide in terms of tier 1 capital (The Banker, July 2018). Nearly 8,000 employees in 34 countries across Europe, the Americas, Asia-Pacific, the Middle East and North Africa support the Bank's clients, meeting their financial needs throughout the world. Crédit Agricole CIB offers its large corporate and institutional clients a range of products and services in capital markets activities, investment banking, structured finance, commercial banking and international trade. The Bank is a pioneer in the area of climate finance, and is currently a market leader in this segment with a complete offer for all its clients.

For more information, please visit www.ca-cib.com
  

Reference number

2019-36877  

Publication date

06/02/2019

Job description

Business type

Types of Jobs - Risk Management / Control

Contract type

Permanent Contract

Management position

Yes

Job summary

Summary

Position based in New York, within the Risk Division of Credit Agricole U.S., to head the newly created Enterprise wide Risk Management Team. The primary mission of the team is to reinforce the local implementation of Credit Agricole SA Group risk monitoring standards while ensuring U.S. specificities and requirements are properly taken into account. The team will be in charge of:

  • Strengthen  the  local  governance  on  Model  Risk  Management,  for  models  used  on  the  Credit Agricole  U.S.  perimeter,  including  regulatory  (credit,  market,  …)  and  non-regulatory  models (compliance, finance, pricers, …)
  • Portfolio Stress Test and Risk Appetite – i) Conducting the Risk Appetite Statement renewal process working with all lines of defense; ii) Review periodically the identification, sizing and monitoring of the sensitive credit limits and the production of local stress-tests
  • Ensure  satisfactory  portfolio  risk  analysis  reported  /  escalated  to  Credit  Agricole  U.S.  Risk Committee, a committee of the Credit Agricole Board

Responsibilities

Following the implementation of the Enhanced Prudential Standards, a FED regulation, a comprehensive risk framework has been developed to have a transverse and holistic view and monitoring of the risks of all activities of Credit Agricole in the United States (U.S.). Credit Agricole activities in the U.S. consist of Credit Agricole CIB New York (CA-CIB NY), Credit Agricole Indosuez Wealth Management Miami (CAIWM Miami), and Amundi Pioneer.

Model Risk Management

Strengthen the local governance on Model Risk Management, for models used on the Credit Agricole U.S. perimeter, including regulatory (credit, market, …) and non-regulatory models (compliance, finance, pricers…) 

  • Reinforce the local implementation of Credit Agricole SA Group risk monitoring standards while ensuring U.S. specificities and requirements (supervisory Guidance SR 11-7) are properly taken into account. Coordination will be needed with the relevant stakeholders of the local entities of Credit Agricole (CA-CIB New York, CAIWM Miami, and Amundi Pioneer), their respective Head Office and Credit Agricole S.A.
  • Create a local overarching governance on all model types used in the U.S. by the Credit Agricole Combined U.S. Operations
  • Build an oversight on the validation of all models used in the United States by the Credit Agricole Combined U.S. Operations
  • Ensure exhaustive and live model inventory across the board
  • Implement a consolidated assessment and ongoing monitoring of model risk for Credit Agricole in the U.S.
  • Design adequate communication and escalation process to the Management regarding model risk

U.S. Risk Committee

For the purpose of the Enhanced Prudential Standards, a Committee of the Credit Agricole Board reviews quarterly the risks of the activities of Credit Agricole in the U.S. The U.S. Risk Committee has now become a pillar of the risk governance of Credit Agricole Combined U.S Operations.

 

 

Job location

Geographical area

America, United States Of America

City

NEW YORK

Candidate criteria

Minimal education level

Bachelor Degree / BSc Degree or equivalent

Academic qualification / Speciality

In Finance / Business preferred

Level of minimal experience

11 years and more

Experience

Over 10-year banking experience, including in Risk Division or Inspection / Audit Division, Project Management, Strategy

Required skills

Additional Responsibilities:

US Risk Committee
- Actively prepare the Credit Risk section for the U.S. Risk Committee. Credit risk is one of the main risks of Credit Agricole in the U.S.; essentially bore by CA-CIB NY and to a lesser extent by CAIWM Miami. The team will work on the portfolio risk review, by notably understanding the main trends (for ex. Analysis of RWA and IFRS9 provisions, Rating, Exposures evolution, Industry concentrations, etc.….), assessing the risk profile and the quality of the portfolio, analyzing the new transactions and exit clients. The portfolio risk review is a deep dive transverse analysis requiring rigorous analytical approach but should as well be conclusion oriented requiring a good capacity to put perspective to provide high level qualitative messages to the Board of Credit Agricole S.A.
- Prepare adhoc report to address FED / DFS additional analysis on the credit portfolio

Portfolio Stress Test and Risk Appetite
- Provide support in the production and analysis of Credit Risk Stress Testing on relevant portfolio stress tests on the U.S. perimeter
- Present qualitative conclusions and recommended actions, in coordination with the Head of the Credit Analysis Team, to the New York Stress Committee. Enhance the application of portfolio stress tests, for managing the risks and staying within the define risk appetite
- Accompany regularly the Credit Analysis team on the identification of the sensitive portfolios
...

Technical skills required

Other responsibilities

- Conduct the Risk Appetite Statement renewal process working with all relevant stakeholders for credit, market and liquidity risks
- Monitor regularly the risk appetite consumption levels and ensuring adequate communication

REQUIRED SKILLS
- Detailed Oriented, articulate with very good communication skills
- Excellent Analytical Skills
- Ability to set up and manage complex processes
- Resourceful in identifying, following up and resolving issues.
- Ability to identify high level messages and to have a vision to orient the team
- Ability to manage a team composed of experts
- Strong team spirit and work ethic
- Transverse vision of the Bank
- Sound understanding of Counterparty/ Credit Risk concepts, including stress test, provisioning and industry / sector risk drivers
- Solid experience in risk management, control functions or inspection team
- Successful exposure to regulators
- Acquaintance with model risk governance, model validation or model audit