First Citizens Bank - Morristown, NJ
posted 4 months ago
The Manager - Credit Risk Stress Testing Production position is a hybrid role that involves both in-office and remote work. This position reports to the Senior Director of Risk Analytics and is responsible for leading a team that executes the Bank's Credit Loss stress testing efforts, particularly focusing on retail loss forecasting. The team plays a crucial role in the annual Comprehensive Capital Analysis and Review (CCAR) Stress Testing exercise, as well as conducting additional runs throughout the year as necessary. Furthermore, the team is tasked with authoring the credit loss sections of the annual capital plan and maintaining detailed process and procedure documentation that aligns with peer best practices and regulatory expectations. In this role, the Manager collaborates with leadership to establish and implement best practices within the team, setting both current and long-term production and execution priorities. The Manager oversees day-to-day execution activities, which include managing production cycles, conducting between-cycle testing, and performing sensitivity analysis. It is essential to ensure that all activities align with Bank policies established by the second line of Capital Risk Oversight, adhere to applicable regulatory guidance, and meet business needs. The Manager also works closely with the Credit organization to ensure that results are appropriately reviewed and challenged, with documentation of this process. Additionally, the Manager supports the Bank's responses to audits, model risk management, and regulatory examinations related to all Credit Risk Stress Testing activities. This includes coordinating with the Senior Director of Risk Analytics and heads of Model Development, Model Implementation, and Capital Planning. The Manager is responsible for defining and setting strategies for the planning and execution of the Bank's Credit Risk Stress Testing programs, recommending changes to program policies and procedures to enhance efficiency and meet objectives, and leading the tactical execution of stress testing activities, including the Annual CCAR, mid-cycle, and ad-hoc runs. The role also involves developing comprehensive reporting and analytical documentation of results, fostering relationships with the credit risk function to maintain an effective review and challenge process, and providing subject matter expertise to the Credit Risk Stress Testing team regarding regulatory expectations. The Manager is responsible for managing the performance, training, and evaluation of assigned staff, ensuring professional development to maximize departmental achievements.