Risk Manager - Central Rating Unit

  • Competitive
  • London, England, United Kingdom
  • Permanent, Full time
  • American Express
  • 22 Sep 17 2017-09-22

American Express is a global service company, providing customers with exceptional access to products and experiences that enrich lives and build business success.

Each day, we make it easier, safer and more rewarding for consumers and businesses to purchase the things they need and for merchants to sell their goods and services, enabling them to do and achieve more.

We’re committed to becoming the world’s most respected service brand and daily deliver extraordinary service to our customers, constantly reinventing our ways of working to ensure we offer rich rewards that redefine expectations for our clients and ourselves.

We are seeing a Risk Manager to work within our Central Rating and Underwriting Team. This role sits within the Risk and Information Management division and forms the institutional credit risk management function within American Express. The CRU team plays the critical role of assessing and managing the risk of institutional exposures across all business units within American Express, and in all regions globally.  Credit exposures are primarily generated through corporate and small business card programs, via merchant service relationships where non-delivery risk exists, and among the securities portfolio held for firm-wide liquidity.  CRU is led from Salt Lake City with regional teams in New York, London, Singapore and Sydney.

In addition to determining the internal credit rating which drives the probability of default of each exposure, CRU also calculates the loss given default of these obligors while underwriting card programs. As a bank holding company, American Express must comply with the highest global banking standards set by Basel and implemented by the banks primarily regulatory, the Federal Reserve.  

Risk Managers in CRU are responsible for rating and underwriting credit exposures in their assigned region, industry, and business line.  Fundamental analysis incorporates a thorough review of business, financial, industry and country risk coupled with support from internal and external rating model outputs.  Assessment includes understanding of the need for credit extension, profitability of the relationship and program structures. CRU managers interact with various constituents across the firm including front office sales, business unit risk partners, and credit administration to perform their critical role.

Offer of employment with American Express is conditioned upon the successful completion of a background verification check, subject to applicable laws and regulations.

Required skills:

  • Masters / Degree in Business Management
  • Expertise as a credit and underwriting decision maker dealing with commercial exposures ranging from small business or middle-market to large, multinational institutions
  • Thorough understanding of fundamental financial analysis including the ability to review corporate financial statements to determine the ability of the obligor to honour its credit obligations
  • Comfort with GAAP/IFRS accounting  standards, corporate valuation, and forecasting
  • Knowledge of  how probability of default and loss given default determine economic capital
  • Experience in determining appropriate credit capacity, structuring of facilities, and risk mitigation techniques
  • Familiarity with quantitative credit models (such as Moody’s  RiskCalc, CreditEdge, etc.) and knowledge of how to interpret the outputs, and when deviation from the model has appropriate defence
  • Comfort with public agency ratings and supporting analysis
  • Understanding of current macroeconomic trends and how to provide recommendations to improve the PD estimation based on the business cycle
  • Experience preparing company-specific and industry-wide credit memorandums
  • Excellent judgment in making sound rating and underwriting decisions to maximize profitability and mitigate risk
  • Familiarity with banking regulations, particularly those imposed by Basel Committee on Banking Supervision
  • Demonstrable experience in dealing with clients across global markets and building good relationships
  • Ability to speak a second European language at advanced / native level is essential.
  • Specific industry expertise in travel (airlines, cruise lines, hospitality), financial institutions, or public finance
  • Experience in rating and / or underwriting at a leading financial institution or rating agency

 

We place great importance on doing what is right, what is best and what is innovative. And we continue seeking people to champion these values and beliefs as we grow. The world’s a big place, filled with big ideas and amazing people. And we want the best of them here at American Express. We’re interested in where you came from, but we’re even more excited about where you will go with American Express.

To complete your application please click on the links below.