Senior Manager – U.S. Loan Review
LocationDowntown, New York, NY
Our client; A global Bank, seeks a Senior Manager of US Loan Review in their downtown, New York City office.
- Primarily responsible for performing and coordinating reviews of U.S. loans and assessing the design and operation of internal controls related to the management of credit risk for US portfolios.
- Performing independent, objective and timely assessment of the U.S. Loan non-retail credit portfolio borrower relationships, credit risk ratings and credit risk controls.
- Act primarily as Officer in Charge (OIC) or a participant on assignments managing and coaching team members as necessary to ensure that assignments are completed in a timely manner in accordance with department standards.
- Provide insights and advisory collaboration to Global Banking and Markets (1st Line) and Global Risk Management (2nd Line) on risk identification, credit risk management processes and regulatory guidance.
- Interface with Internal Audit (U.S. & Toronto) as appropriate with respect to U.S. Loan reviews/audits, operations and administrative functions of U.S. Loan Reviews (USLR).
- Provide high quality, value-added advisory services to line management as part of loan reviews/audits or on special projects / ad hoc assignments. The incumbent will ensure that department standards are met on all assignments.
- Review Planning
- Assist the USLR Director in executing the USLR Plan, providing financial and regulatory reporting and meeting regulatory requirements.
- Identify systemic/emerging issues and/or strategic changes planned/undertaken by the 1st and 2nd line functions that will impact the USLR Plan, including review of business/strategic plans, review and update the Risk Assessment Database for entities assigned, attend periodic meetings with key management officers to understand changes and new business initiatives and review Key Performance Indicators.
- Review plans, business, risks and processes against market conditions and incorporated into Credit Risk Assessments and with respect to processes / controls to be audited.
- Participate in the development and execution of the Annual Review Plan.
- Engagement Planning
- Planning assigned Reviews or assigned areas by ensuring the scope and extent of work is in accordance with the approved plan; timing and budget are reasonable; procedures are efficient; appropriate resources are assigned; and risks understood.
- Schedule Reviews and resources as necessary, ensuring the approved Review plan is implemented; ensure an integrated approach is applied with Internal Audit, including staff from other business lines to assist in the project, as necessary.
- Develop a thorough understanding of the business, risks and processes for assigned Reviews and projects.
- Identify emerging issues that may impact the business units subject to Review.
- Develop and/or update Detailed Audit Programs (DAPs) as appropriate.
- Review Execution
- Lead and support USLR team members in conduct of target reviews; continuous monitoring reviews and reporting.
- Perform credit reviews of loans, borrower relationships and credit risk controls.
- Evaluate the adequacy of system design and internal control framework in meeting business, operational and control objectives.
- Ensure department standards are followed in execution of assignments including the appropriate nature and extent of audit testing.
- Evaluate credit exposures to ensure risk grading accuracy and timeliness, and compliance with Bank policy and regulatory guidelines.
- Identify loans with potential credit weaknesses and any relevant trends that may affect collectability.
- Problem Identification
- Ensure internal control weaknesses have been identified, errors have been quantified as appropriate, problems and associated impact are properly defined, documented and reported; identified issues are clearly understood and confirm that line management/product owner will take corrective action. Escalate to Senior Management and Audit Management as necessary for material control weaknesses.
- Prepare and/or Review findings for presentation to management.
- Monitor and track remediation of outstanding issues as assigned for inclusion in quarterly reports to 1st and 2nd line functions and Internal Audit (U.S. & Toronto) and escalate to Senior Management and Audit Management where corrective action items remain delayed and impact controls.
- Written reports and correspondence demonstrate a thorough understanding of issues with key risks clearly articulated and materiality clearly explained. Recommendations build in best practices observed in other units.
- Draft quarterly reporting to senior management and/or the Audit Committee, ensuring key risks observed during the quarter are identified and summarized.
- Participation in the Continuous Monitoring process and reporting on a quarterly basis through ongoing monitoring of MIS, the external environment and discussions with management, to stay abreast of new or emerging risks and their impact on the Review.
- Presentation of findings to line management (or assist OIC) and facilitate Review closing meetings as needed.
- Monitor and follow-up for corrective action/progress against reported issues in the USLR and Audit Issues Tracking Database on a quarterly basis.
- Ensure relevant information that impacts other U.S. Audit and Toronto based Audit function areas are shared.
- Internal/External Communication
- Maintain effective internal communication through the ongoing acquisition and sharing of information.
- Maintain effective communication with 1st and 2nd line function management, including appropriate handling of conflicts and issue resolution.
- Human Resource Management
- Comply with department established HR Management policies and procedures.
- Manage the development of staff by providing direction and coaching; development of training programs; impart specialized skills to other USLR officers through peer discussions and cooperation on cross-functional Reviews/assignments and performance management.
- Manage self-development by/through confirming job expectations; identifying mentors/coaches and enquiring about training needs; ensuring timely completion of performance appraisals; recruiting, interviewing and selecting candidates as needed.
- Special Projects
- As directed by USLR Director and other senior management, carry out specific projects or investigations of a complex and/or confidential nature.
- Plan, document and seek agreement in advance to the project approach and confirm conclusions upon completion in writing.
- Perform due diligence activities as assigned.
- Assist with Quality Assurance program as required including review of documentation and reports of assigned Review/audit project and reporting of findings to as appropriate to Professional Practice Group.
- Familiarity with risk based auditing standards, techniques and methodologies, a plus.
- Strong oral and written communication skills.
- Strong knowledge of credit and risk management practices, policies and procedures as applicable across the Bank's business lines.
- Prior experience conducting U.S. Loan Reviews, ensuring compliance with regulatory guidelines and expectations will be an asset.
- Good understanding of the US regulatory environment, including regulations impacting the Corporate Credit processes and particularly those regulations applicable to Loan Review functions in the US.
- Good project management, planning, and organizational skills, including managing competing project priorities and a diverse workload.
- Proven ability to manage and lead a team of professionals.
- Strong interpersonal skills, strong work ethic, and self-motivated.