Managing Director Counterparty Credit Risk

divh2Webster Bank Management Director, Counterparty Credit/h2pIf youre looking for a meaningful career, youll find it here at Webster. Founded in 1935, our focus has always been to put people first--doing whatever we can to help individuals, families, businesses and our colleagues achieve their financial goals. As a leading commercial bank, we remain passionate about serving our clients and supporting our communities. Integrity, collaboration, accountability, agility, respect, and excellence are Websters values, these set us apart as a bank and as an employer./ppCome join our team where you can expand your career potential, benefit from our robust development opportunities, and enjoy meaningful work!/ppReporting to the SMD of Counterparty Credit, the MD is primarily responsible for direct management and continuous improvement of the Counterparty Credit Stress Testing, Surveillance and Reporting Analytics functions, which encompasses a portfolio of over 50 counterparties covering a diverse set of products./ppThe MD is responsible to:/pulliSafeguard the Banks interests by ensuring that Webster Bank only admits and transacts with counterparties that are financially and operationally sound and meet the expectations of Websters management, Board and regulators./liliDemonstrate an understanding of the OCCs framework for counterparty risk management, with experience elevating counterparty analytics, and working with senior management to ensure Webster is at the forefront of credit risk management capabilities./li/ulpResponsibilities are listed in priority order:/pulliDirectly manage and continuously improve the counterparty stress testing program, including but not limited to daily PFE calculation and reporting of MTM portfolio, quarterly stress testing under various scenarios, validate comprehensiveness of stress testing data, and collaborating with partner functions responsible for stress testing the loan book and securities in first and second LOD functions./liliReporting analytics: tracking counterparty limits, concentrations, exceptions and potential internal/external audit findings. Further, the incumbent is responsible for building and maintaining counterparty scorecard metrics aligned to the enterprise Risk Appetite Framework (RAF), DFAST and Reg. F responsibilities./liliActive monitoring and continuously improving the counterparty surveillance program, including systematic early warning indicators of credit and financial performance deterioration./li/ulpThe incumbent will work collaboratively with the SMD, CCR team, stakeholders across the front-office, Independent Risk Management (IRM) functions and all audit partners to ensure that Webster Bank complies with Heightened Standards requirements and Large Financial Institution (LFI) preparedness measures./ppJob Responsibilities:/pulliDirect management and continuous improvement of Counterparty stress testing platform (FIS Adaptiv) to produce daily PFE calculation (SA-CCR, MPoR, XVA), required for effective limits management; manage quarterly credit stress testing under various market scenarios./liliAssist in managing the day-to-day counterparty limit monitoring process by tracking risk metrics vs. approved limits, addressing limit breaches, and following up on remediation efforts with front-line teams, across various trading desks./liliAnalyze potential wrong-way risk, stress scenarios, and concentration risks across traded products./liliManage DFAST and Reg. F reporting and monitor market developments, regulatory changes (e.g., Basel III/IV, SA-CCR) and emerging counterparty risks./liliAlong with SMD for Counterparty, develop, enhance, and actively leverage the surveillance program as early warning indicator of deteriorating credit and financial performance of counterparties./liliPartner with Credit Risk Reporting teams to enhance existing scorecards, metrics, and models to ensure risks are appropriately captured./liliEffectively communicate with team members, senior risk management, and audit on strategies related to open issues, testing results, corrective measures, and closure of audit/regulatory issues./liliUnderwriting and other responsibilities, as needed./li/ulpEducation, Experience and Skills:/pulliBachelors Degree Required-Business, Finance, Accounting or Economics preferred./lili7-10 years of related experience in counterparty credit risk, stress testing, or trade product risk within a global bank or financial institution./liliTechnical expertise with FIS Adaptiv, or similar Stress Testing platforms, as well as ability to incorporate data and create analytical reports from various external sources (SP Market Intelligence, Bloomberg, Moodys, Fitch, etc.)/liliDeep understanding of FX, derivatives, securities lending, repo, insurance companies (BOLI), broker/dealers and structured finance products./liliDemonstrate subject matter expertise in SA-CCR, SR 11-10, OCC Heightened Standards, derivatives, insurance, DFAST and Reg. F reporting/liliStrong grasp of legal documentation (ISDA, CSA, GMRA, GMSLA) and enforceability./liliExcellent communication and presentation skills, with the ability to influence./liliAbility to prioritize work to meet deadlines and work both independently and within a team structure./liliExperience working on Large Financial Institutions (LFI) transformation initiatives, preferred./li/ulpThis role can be based in our NYC, Jericho, Paramus, and Stamford CT locations for the right candidate./ppThe estimated base salary range for this position is $190,000 USD to $200,000 USD. Actual salary may vary up or down depending on job-related factors which may include knowledge, skills, experience, and location. In addition, this position is eligible for incentive compensation./ppWebster Financial Corporation and its subsidiaries (Webster) are equal opportunity employers that are committed to sustaining an inclusive environment. All qualified applicants will receive consideration for employment without regard to race, color, religion, age, marital status, national origin, ancestry, citizenship, sex, sexual orientation, gender identity and/or expression, physical or mental disability, protected veteran status, or any other characteristic protected by law./p/div