- IGNA is part of BNP Paribas’ global Inspection Générale group which is staffed by audit and banking professionals who provide assurance, investigative and special consultative services to BNP Paribas worldwide. IG is highly regarded by executive and senior management for its professionalism and the quality of its work. It has traditionally been a training ground and talent “factory” for senior and executive management. IGNA, located in New York, has primary audit and credit review responsibility for BNP Paribas’ activities in the United States.
- Annual training will be provided on all aspects of the bank’s business (including regulations) through internal and external seminars/courses. Minimal travel to other offices in the U.S. (Chicago, San Francisco, Houston and Dallas) and Latin America (Sao Paulo) is required.
- Leading and participating in reviews of credit and counterparty risk across the US non-retail platform in order to detect and report on potential weaknesses in the credit approval and monitoring process. Results of reviews, including recommendations for improvement, are documented in written reports to senior management.
- Results are also conveyed in formal close-out meetings with senior management of the business line, Risk and IGNA in attendance.
- Portfolios covered include: Corporate Banking, Energy & Commodities, Project Finance, Media & Telecom, Merchant Banking, Asset Securitization, Hedge Funds, Insurance, Banks, and Broker/Dealers.
- Acquiring a solid understanding of the reviewed activities
- Applying knowledge of specific industry risks, in order to develop a credit review plan for the assignment
- Assessing adequacy and effectiveness of governance, management and controls of credit risk
- Managing in-depth reviews of individual credits to assess credit quality and validate the accuracy of the assigned counterparty risk ratings and loss given default rates and recommending changes, as necessary.
Individual credit reviews require thorough but succinct written credit analysis demonstrating an understanding of the following:
- Obligor’s business and structure
- Nature of facilities extended by the bank (ranging from plain-vanilla corporate loans to highly complex loan and derivative products) and exposure thereunder
- The bank’s position in the capital structure
- Expected source of repayment
- Legal documentation
- Obligor’s financial condition (profitability, balance sheet strength, cash flow and liquidity profile)
Ratings validations require:
- Thorough understanding of relevant rating methodologies
- Re-performance of ratings assessment
- Assessing the quality of credit analysis performed by the business groups and the Risk Department and the quality of the underwriting.
- Ensuring that work is documented and communicated to stakeholders within an organized and prescribed framework.
- Evaluating compliance with regulatory guidelines and bank policies.
- Evaluating complex financing transaction structures and capital markets products (including swaps, options, futures, derivatives and securitizations) and the associated risks and mitigants.
- Identifying actual and potential problem exposures.
- Evaluating the appropriateness of the level of provisions for impaired credits. Assessment of provisions requires a thorough understanding of IFRS principles and involves challenging assumptions and re-performing discounted cash flow analysis if warranted
- Assessing conformity of legal documentation and quality of supporting security (collateral)
- Understanding business line performance in terms of mandates, budgets, liquidity management, risk adjusted profitability and capital consumption.
- Adding value to the area under review by raising relevant recommendations
- Writing quality reports with appropriate recommendations in plain English
- Delivering clear presentations to Senior Management and management of Inspection Générale North America
- Liaising, as required, with the appropriate representatives of the Federal Reserve Banks of San Francisco and New York and the State of New York Banking Department and their various regulatory arms and working closely with them (in particular, response to First Day Letters, communications to Management and monitoring of issues raised).
- Developing and maintaining relationships within the bank
- Providing direction and training to less senior members of the team
- Managing time and priorities while performing the credit reviews
- Checking proper implementation of recommendations
- Keeping abreast of the evolution of standards and regulations through training, publications and seminars.
- Adopting and promoting strong ethical values (including abiding by and being a champion of the code of conduct and BNP Paribas’ commitment to diversity and inclusion)
Minimum Required Qualifications:
- Bachelor’s degree in Accounting, Finance or other quantitative business discipline
- 10 years financial services work experience in the area of credit extension, underwriting, review or analysis
- Credit analysis skills with a solid understanding of the credit process and controls
- Strong writing, verbal and interpersonal skills
- Must be comfortable discussing findings and making recommendations with the appropriate balance of tact and professional assertion.
- Audience includes all levels members of management, including senior management.
- Strong interest in expanding knowledge of banking products and processes
- Must be a self-starter with a track record of critically evaluating processes from a risk and efficiency standpoint
- A mix of credit review, risk department and origination experience would be ideal but combinations thereof or significant experience in one of these areas will also be considered.
- MBA or CPA (or equivalent) or CFA
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