Associate Director - Criteria Validation

  • Competitive
  • Paris, Ile-de-France, France
  • Permanent, Full time
  • S&P Global
  • 23 Mar 19

Associate Director - Criteria Validation

JobDescription :
Associate Director, Criteria Validation (S&P Ratings)

The Role:
S&P Global Ratings' credit ratings Criteria contain all our key analytical principles, assumptions and methodologies. They provide the framework for all of our published credit ratings and analyses and, as such, represent our most significant intellectual property. The Associate Director, Criteria Validation will be a member of a senior team of Criteria experts that enhance the management of Criteria-related risks by:
• Validating that proposed new or revised Criteria effectively differentiate creditworthiness, and produce credit ratings which are consistent with S&P Global Ratings' Principles of Ratings;
• Conducting or overseeing various statistical and quantitative analyses in the evaluation of Criteria (using R or Matlab for example), including back-testing and benchmarking with historical data, and stress testing to verify the soundness of the assumptions and of the calibration underpinning proposed new or revised Criteria, Ratings to Principle and Criteria Exceptions and forming and defending validation conclusions;
• Producing Criteria validation reports and presenting validation conclusions to working groups and relevant approving bodies;
• Performing the periodic validation of existing Criteria by analyzing historical rating performance metrics and other information that inform the fitness for purpose of existing Criteria based on discriminatory power, predictive power and historical robustness;
• Producing validation reports for the periodic Criteria review;
• Reviewing proposed non-material changes and Guidance Documents; and
• Contributing to the continuing research and development of new tools for the statistical and quantitative analyses used for Criteria validation, and to the wider continuing development of the team and Criteria validation function.

The Impact:
The Criteria Validation team provides high value added analysis by reviewing the work of Criteria developers and ensures that new Criteria being developed is appropriate and effective. Through its participation in the periodic reviews of existing Criteria the team validates that Criteria continue to be fit for purpose.

Your Skills:
• High proficiency in fundamentals of credit analysis and related qualitative and quantitative reasoning.
• Adept at managing competing priorities.
• Ability to communicate complex results to an audience which will include senior managers from the Analytical, Methodologies and Compliance & Control groups.
• Ability to work independently to tight deadlines.

Qualifications:
• 5+ years of experience in fundamental credit analysis; experience in Criteria development and Criteria validation is preferred, but not required.
• Degree or advanced degree in Economics, Finance or a related discipline.
• Quantitative skills in the areas of structured finance, credit derivatives, default and recovery Criteria and credit risk management or Criteria would be an advantage, but not required.
• Process-oriented and highly organized with the ability to work independently.
• Strong communication and interpersonal skills.
The Career Opportunity:
"Criteria Validation is a group that has global responsibilities for our entire ratings business. As a result, the successful candidate will experience working with a wide variety of people across multiple analytical disciplines, from sovereigns to asset-backed securities. You will be challenged by, and have an opportunity to further develop, your well-established analytical skills, through your interactions with top experts. This will likely lead to multiple career progression opportunities, from fundamental analysis to other areas of risk management."
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About S&P Global Ratings' Services
S&P Global Ratings' is a leading provider of global credit benchmarks and research that investors, businesses, and markets use to foster economic development and growth around the world.
Learn more at http://www.mhfi.com/careers/our-brands/sp-ratings
S&P Global includes Ratings, Global Market intelligence, S&P Dow Jones Indices, and Platts. Together, we're the foremost providers of essential intelligence for the capital and commodities markets.