Credit Risk Management - Governance Team AVP

$65,000 - $150,000/Yr

Bank Of China-New York Branch - New York, NY

Full-time - Mid Level

New York, NY

About the position

The AVP of Credit Risk Management - Governance Team at Bank of China Limited is responsible for overseeing credit risk management duties, focusing on credit portfolio analysis and risk reporting. This role involves leading the estimation process for credit loss allowances, ensuring compliance with accounting standards, and preparing reports for senior management and regulatory bodies. The position also includes monitoring the bank's credit risk profile and enhancing credit policies and procedures in line with industry practices.

Responsibilities

• Lead the estimation process for credit loss allowances, ensuring accuracy and adherence to accounting standards (e.g., CECL, IFRS 9).
• Prepare and review internal reports and presentations related to credit losses for senior management and regulatory bodies.
• Collaborate with model team and data team to refine methodologies and improve predictive analytics.
• Establish and maintain policies and procedures for credit loss estimation and reporting.
• Ensure compliance with regulatory requirements and internal controls related to ACL.
• Monitor the Bank's credit risk profile, including asset quality, portfolio composition, concentration, rating migration, and changes of loan provisions.
• Prepare credit risk reports to committees on a monthly basis and quarterly for the Board meeting.
• Enhance existing credit policies and procedures in line with industry practice and regulatory guidance.
• Assist in the Bank's communication with regulators and auditors regarding credit-related issues.
• Coordinate internal/external audit or regulatory examinations and manage the remediation process.

Requirements

• Bachelor's degree in Finance/Economics/Accounting; MBA preferred.
• 4 years of Credit Risk Management experience required.
• Experience in accounting/CECL/IFRS9, financial data/call report, management level credit risk reporting, programming or policy writing is required.
• CECL and accounting knowledge is required.
• CPA/CFA/FRM is preferred.

Nice-to-haves

• Demonstrate knowledge in accounting.