Senior International Credit Portfolio Manager
- Location: London, England, United Kingdom
- Salary: Competitive
- Job Type: Full time
This credit trained professional supports the credit needs of Northern Trust’s International Custody and Global Fund Services clients. Credit support also extends to the Northern Trust’s international subsidiaries, European wealth management clients and the provision of credit related guidance in respect of broader international business objectives/activities. Core functions include the provision of credit analytical support, administrative, relationship management, and sales assistance in relation to the underlying credit portfolio. Key activities include the structuring, underwriting, monitoring and reporting of client transactions to management and internal risk committees along with assisting in strategic business initiatives.
The key responsibilities of the role include:
A. Credit Portfolio/Risk Management
- Assumes primary responsibility for credit risk management aspects of assigned relationships: researches and analyzes pertinent financial and legal details as part of evaluating a client's suitability, and or borrower's creditworthiness, for existing and prospective International, Custody, and Global Fund Services clients; demonstrates a high degree of understanding in respect of the credit and operating risks associated with the totality of the client relationship; structures credit arrangements to mitigate significant/manageable risks while satisfying client needs.
- Structure and underwrite credit facilities for all assigned credit relationships and intercompany credit facilities within agreed time frames.
- Prepare written credit approval requests and present them verbally to credit approval committees. Presentation content is to be clear and relevant; delivery is confident, knowledgeable and conversational in tone.
- Honestly and thoughtfully responds to questions with follow-up completed on open issues within two business days. Reviews, analyses, and monitoring are to reflect a risk-based approach to credit.
- Ensure credit requests are handled appropriately such that (1) all facilities are analyzed/reviewed and brought to credit committee at least annually; (2) all Watch List credits are reviewed at least quarterly; and (3) all credit requests are completed in a timely manner, and distributed to credit committee at least two days before the committee meets.
- Manage individual client exposure levels based on exposure guidelines and client risk profiles in consultation with relationship managers and Corporate & Institutional Services Risk Management to appropriately maximize the risk return relationship.
- Where applicable, understand and track the composition of each syndicated credit bank group and the services provided by each bank.
- Monitor clients and portfolios for changes in risk and update management on key issues that impact overall credit quality.
- Review legal documents, with appropriate partners where appropriate, to ensure terms match approval granted by credit committee and bank is properly protected; submit completed loan documentation on a timely basis.
- Maintain organized, current credit files for assigned clients.
- Timely complete New Client Take On risk assessments as required.
B. Credit Administration
- Communicate effectively and efficiently with members of the relationship management and Corporate & Institutional Services Risk Management teams regarding key relationship issues to meet client satisfaction goals in support of overall strategic management of each relationship.
- Work with appropriate bank personnel to accurately book and maintain credit exposures in the bank’s internal accounting systems. Ensure revenue recognized from loan advances and committed facilities accurately reflects negotiated loan arrangements. Ensure no past due fees exceeding 90 days from invoice date and no loan documentation deficiencies exceeding 90 days.
- Provide backup for daily credit administration functions as needed.
- Understand internal profitability of each relationship, and ensure proper tracking of internal business metrics.
- Manage travel and entertainment expenses within budget.
C. Strategic Issues
- Support new product and new market entry initiatives along with department and risk management goals.
- Provides back-up to team members for other activities and coach less-experienced co-workers and trainees.
- Support risk mitigation strategies for higher risk global custody clients and other strategic development needs in support of expanded business development efforts within the Global Fund Services business.
D. Relationship Management
- Serves as internal sponsor for credit-related issues, taking the lead in recommending appropriate credit actions.
- Communicate credit strategy to both internal and external clients as appropriate.
- Participate as appropriate in client solicitation and presentation meetings as appropriate.
- Perform credit research and assist, as requested, via meetings and otherwise, with calls on prospects, in coordination with Sales & Marketing and other personnel.
- For clients and prospects: (1) calls should be made with thorough preparation and a specific agenda, and; (2) client and prospect calls should be documented on ERM within two weeks.
The successful candidate will benefit from having:
- Knowledge of finance and accounting
- Analytical and communications skills
- Highly detail oriented
- Knowledge of the banking industry – custody knowledge highly beneficial
- International awareness and interest
- Comfortable with legal and regulatory issues
- PC literate – Excel/Word
- 10+ years commercial banking experience
- Formal credit training
- Strong demonstrated analytical skills
- Custody knowledge and familiarity with collective investment schemes and foreign exchange
About Northern Trust
For more than a century, Northern Trust has worked hard building our legacy of outstanding service, expertise and integrity. From a Chicago-based bank founded in 1889, we now have more than 20 international locations and 16,500 employees globally. We serve the world’s most-sophisticated clients – from sovereign wealth funds and the wealthiest individuals and families, to the most-successful hedge funds and corporate brands.
We burnished our reputation as a global leader delivering innovative investment management, asset and fund administration, fiduciary and banking solutions enabled by sophisticated, leading technology. And through it all, we continually laid a solid, forward-looking foundation on which future generations can continue growing and achieving greater.
Northern Trust proudly cultivates a diverse workforce, to serve our diverse client base. We strongly believe that diversity of experience contributes to a broader collective perspective that will consistently lead to a better company. We encourage applications from the best regardless of ethnicity, gender, gender identity, age, nationality, disability, sexual orientation, education, socio-economic background, parental and caring status, or religion.
As of March 31, 2017, Northern Trust Corporation had:
$121 billion in banking assets
$7.1 trillion in assets under custody
$8.9 trillion in assets under custody/administration
$1.0 trillion in assets under management