Credit Risk Officer
Our Client, a global investment bank and financial services institution, is seeking a Credit Risk Officer for its midtown Manhattan location. Responsibilities:
- This role will be responsible for a portfolio of hedge fund clients and focused on carrying out core HFR responsibilities as described below:
- Assessment - Performing hedge fund due diligence on a portfolio of funds assigned, including the review of relevant documentation, analyzing investment and operational risks, performing background checks, arranging and attending on-site due diligence meetings and drafting well-written, cogent, due diligence documents. Assist in opining on transactions and associated risks.
- Approval - approving specific credit files and limits within the incumbent's own delegation (where applicable) and the associated credit ratings. Approving specific one-off transactions as required within agreed guidelines and policies, in the course of everyday business. Facilitating the approval of files that are to be escalated further.
- Mitigation - Enforcing procedures designed to mitigate against losses in the event that a hedge fund defaults, including assisting in negotiating credit terms of legal documents (e.g. ISDA ATEs), negotiating and opining on Independent Amounts.
- Monitoring - Maintaining up to date risk information and the ongoing monitoring of hedge fund performance and credit worthiness. Managing credit exposures in accordance with defined risk appetite. Following up on credit limit and policy breaches.
- The incumbent would be expected to help mentor and improve the skills of more junior team members, facilitate their peak performance, and help them become ready to take greater responsibility.
- Act to ensure that front office requests are addressed appropriately and ensure that the prudent level of risk appetite set by senior management in accordance with prevailing policies and procedures.
Why Consider a Contract/Temp Role?
- The VP will have responsibility for recommending credit limits and internal ratings and the approval of certain types of trades within delegated credit approval authority (where applicable).
- In addition, the independent opinions of the analyst will be accounted for in a wide array of difficult, complex, hedge fund risk issues.
- Preferably experience in hedge fund credit or investment risk.
- Experience reading and understanding detailed covenants and clauses in legal documentation such as ISDAs, GTBs, GMRAs, term sheets, prospectuses etc.
- Good knowledge of hedge fund industry in the Americas.
- Knowledge of OTC and listed derivative products and drivers of associated risks.
- Some knowledge of hedge fund structured products, including CPPI, leveraged facilities, and prepaid forward transactions would be advantageous.
- Good analytical/statistics skills; the person should understand means, standard deviations, correlation, normal distributions, sampling error, and basic performance statistics for the fund industry.
- Intermediate to advanced Excel, database, VBA, and Word skills highly desirable.
- Self-starter able to meet deadlines and work independently as well as contribute to HFR team goals when required.
- Good communication skills
- Articulate orally and in written form.
- Be comfortable meeting with very experienced hedge fund managers in person, be presentable, and be respectful.
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