Portfolio Manager

State Street Bank
Boston, USA
Oct 09, 2019
Nov 07, 2019
Job Function
Risk Management
Industry Sector
Finance - General
Employment Type
Full Time
Credit and Market Risk Portfolio Manager, Managing Director Boston, Massachusetts/en-US/Global/job/Boston-Massachusetts/Credit-and-Market-Risk-Portfolio-Manager--Managing-Director_R-623733/apply
Credit and Market Risk Portfolio Manager, Managing Director: a member of the global Enterprise Risk Management division (ERM), working within Credit & Global Markets Risk (CGM) - Portfolio Management group. This role reports into the Head of Portfolio Management and serves as the Head of Portfolio Risk Oversight and Stress Testing (PROST) within Portfolio Management with staff management responsibilities.

The individual will provide primary oversight and coordination of State Streets global credit and market risk exposures. Primary responsibilities will be to ensure ongoing monitoring of STTs credit and market risk portfolio exposures. Direct responsibilities will be leading the team in providing insight to relevant stakeholders into the development of the portfolio via related analysis and metrics. Specific activities may include:
  • Strategic oversight of the coordination and submission of the credit components to the Banks domestic supervisory stress test submissions, including the Comprehensive Capital Analysis and Review (CCAR).
  • Oversight of the coordination and submission of the Banks Board-level and sector-level credit strategies, including development of Board- and sector-level risk appetite guidelines. Provide subject matter expertise and direction with regard to the development of other credit risk appetite dimensions (such as product or legal entity).
  • The production and dissemination of the Banks primary credit portfolio reporting, for use within Credit, broader ERM, and the businesses, as well as providing associated information for internal and/or regulatory inquiries. This includes primary oversight and coordination of the Banks Watchlist.
  • Development of quarterly reserve assessment and recommendation for credit loss reserves (ALLL / IFRS9 / CECL). Primary representation for Credit Risk into CECL implementation program, including active engagement in model development, testing and procedural implementation.
  • Membership and/or Chair of key risk committees
  • Continuously review and upgrade reporting across all sectors, products, and geographies so as to meet the needs of above constituents.
  • Contributing to the Banks ongoing Material Risk Identification (MRI) efforts via quantitative and qualitative assessments of portfolio risks.
  • Contributing to risk and/or regulatory projects as required; serving as a primary owner to independently driving resolution/implementation - including cross divisional collaboration

This individual will be responsible for meeting broader Bank initiatives in terms of process improvements related credit and market risk monitoring.

In this role, collaboration within and beyond CRM is essential to develop a holistic view of portfolio risks. Individual will closely interact with various internal departments, in particular, other teams within ERM, Corporate Finance, State Streets various Business Units, Integrated Analytics Team (IAT) and Internal Audit. In addition, individual will collaborate with various colleagues globally in the context of ongoing portfolio monitoring, as well as via key projects and initiatives.

Proficiency Expectation & Education/Experience Requirements:
  • 12+ years of counterparty credit risk management in a global financial institution, or related experience, with a broad knowledge of credit and capital market products, regulatory requirements, including policies, procedures, and stress testing
  • MBA and/or CFA strongly preferred (or equivalent).

  • Robust understanding of capital markets and respective regulatory landscape
  • Excellent critical thinking ability and analytical skills
  • Develop effective working relationships and communications with internal stakeholders
  • Excellent verbal, written, and presentation skills
  • Self-motivated and able to work independently; excellent time-management skills
  • Capable of managing a diverse workforce with a high attention to talent development
  • Develop talent through strong managerial skills
  • Appropriate staff retention and management through ongoing dialogue with staff, applying effective coaching and development opportunities, and through targeted transparent performance feedback
  • Demonstrated leadership skills and proven ability to drive execution
  • Champion best practices in order to ensure team is focused on right activities and group goals are aligned to company goals
  • Project management skills with ability to lead critical, Bank-wide projects
  • Ability to cooperate with others to help both parties be successful
  • Foster an environment that supports effective teamwork
  • Promote and support a culture of effective challenge and risk excellence.
  • Comfortable in conflict resolution as appropriate with others/in a matrix organization

Maintain the highest standards of conduct and integrity and ensure compliance with accepted industry practice, company policies, statute and regulatory requirements
Posted 2 Days AgoFull timeR-623733
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