Role Value Proposition:
NYL’s Credit Risk Management group is looking to hire a fundamental corporate credit specialist with 5-10 years of work experience at a major insurance company, bank or rating agency covering Private Placement/Public Corporate credit. The role requires both a solid background in fundamental credit analysis and the ability to develop top-down credit risk analytics and monitoring frameworks to enable sector reviews and monitor name and sector level credit risk. He or she will have experience with portfolio credit risk strategy, limit framework design and a demonstrated ability to write and communicate research to team members. Experience in working with credits in the private asset class is a strong plus. Candidates will be expected to demonstrate their ability to work effectively in a team environment. Candidates will possess strong organizational skills, demonstrate attention to detail, and enjoy working in a collaborative team environment.
- Develop and maintain framework for the oversight of Corporate (Public/Private Placement) fundamental credit risk of New York Life’s General Account Assets.
- Conduct Corporate sector reviews, monitor covenant quality, selected deal reviews and credit risk scenario analytics.
- Write company reviews to review and challenge assigned ratings.
- Monitor ongoing credit risk of the General Account corporate asset portfolio.
- Work with other members of Credit Risk Management team on risk input (PD, LGD) modeling, development of credit risk economic capital modeling tool, stress testing and top counterparty analysis.
- Partner with asset sector credit portfolio managers to develop a consistent internal risk rating framework, review process and portfolio strategy.
- Support management in the preparation and maintenance of various credit risk dashboards and reporting.
- Assist in the development, enhancement and review of credit risk policy and limits.
- Analyze portfolio data to identify risk concentrations.
Essential Business Experience and Technical Skills:
- A minimum of 5-10 years of professional experience related to fundamental credit analysis and credit risk management especially in the private placement and public corporate fixed income credit area at a major insurance company, asset manager, bank or rating agency.
- Bachelor's degree required and graduate/second level degree (Masters, MBA, CFA, FRM) strongly preferred.
- Proficient in MS Excel, PowerPoint, Word.
- Formal credit training and demonstrates the ability to understand and identify key factors that affect issuer credit quality and complex credit situations.
- Monitors credit quality and issuer and/or portfolio trends by following market developments, analyzing issuer reporting, and engaging with internal stakeholders for follow-up clarification and information.
- Participates in internal credit committee meetings by sharing analysis and opinion where appropriate.
- Experienced at developing and monitoring limits and an internal ratings framework
- Demonstrated communication, partnering and analytical skills
- Familiarity with database packages such as SQL and RiskFrontier