Credit Review Contractor Position Available In Hudson, New Jersey

Job Description:

Job Title:

Credit Review Contractor Location:

Jersey City, NJHours:

8:00am – 5pm |

Pay:

61/hr

Description:

The primary role ofCredit Risk Review is to: Promptly identify loans with actual andpotential credit weaknesses. Validate and, if necessary, adjustcredit risk ratings. Assess the adequacy of (and adherence to)internal credit policies and loan administration procedures andcompliance with applicable laws and regulations.

Responsibilities:

Participating in reviews of credit and counterparty risk across theCIB platform to detect and report on potential weaknesses in thecredit approval and monitoring process. Results of reviews,including recommendations for improvement, are documented inwritten reports to senior management. Portfolios covered includeCorporate Banking, Project Finance, Media & Telecom, LeveragedFinance, Asset Securitization, Hedge Funds, Insurance, Banks, andBroker/Dealers. Acquiring a solid understanding of the reviewedactivities and specific industry risks. Assessing adequacy andeffectiveness of governance, management, and controls of creditrisk. Performing in-depth reviews of individual credits to assesscredit quality and validate the accuracy of the assignedcounterparty risk ratings and loss given default rates andrecommending changes, as necessary. Individual credit reviewsrequire thorough but succinct written credit analysis demonstratingan understanding of the following: Obligor s business and structureNature of facilities extended by the bank (ranging fromplain-vanilla corporate loans to highly complex loan and derivativeproducts) and exposure thereunder The bank s position in thecapital structure Expected source of repayment Collateral Legaldocumentation Obligor s financial condition (profitability, balancesheet strength, cash flow and liquidity profile) Ratingsvalidations require: Thorough understanding of relevant ratingmethodologies Re-performance of ratings assessment Assessing thequality of credit analysis performed by the business groups and therisk department and the quality of the underwriting. Ensuring thatwork is documented and communicated to stakeholders within anorganized and prescribed framework. Evaluating compliance withregulatory guidelines and bank policies. Evaluating complexfinancing transaction structures and capital markets products(including swaps, options, futures, derivatives andsecuritizations) and the associated risks and mitigants.

Identifying actual and potential problem exposures. Evaluating theappropriateness of the level of provisions for impaired credits.

Assessment of provisions involves challenging assumptions andre-performing discounted cash flow analysis, if warranted Assessingconformity of legal documentation and quality of supportingsecurity (collateral). Adding value to the area under review byraising relevant recommendations. Writing quality reports withappropriate recommendations in plain English. Delivering clearpresentations to management.

Minimum Required Qualifications:

Bachelor s degree in Accounting or Finance MBA or CPA (orequivalent) or CFA a plus. 5 to 10 years financial services workexperience in credit extension, underwriting, review, or analysis.

Strong credit analysis skills with a solid understanding of thecredit process and control. Knowledge of leveraged lending and theregulatory guidance thereon would be a strong plus. Strong MS Exceland Powerpoint skills Strong writing, verbal, and interpersonalskills Must be comfortable discussing findings and makingrecommendations with the appropriate balance of tact andprofessional assertion. Audience includes all levels members ofmanagement, including senior management.

Preferred Qualifications:

A mix of credit review, risk department and origination experiencewould be ideal, but significant experience in one of these areaswill also be considered.