Credit Risk Officer - Wealth Management - Assistant Vice President

Deutsche Bank • New York, NY

3d • $100,000 - $153,000 • Hybrid

About The Position

Deutsche Bank's Private Bank business is one of the largest wealth managers worldwide; We offer our clients a broad range of traditional and alternative investment solutions, as well as comprehensive advice on all aspects of Wealth Management. As a trusted partner of wealthy professionals and entrepreneurs, family offices and foundations, we create lasting value for clients. The Private Bank specializes in developing bespoke solutions for our clients around the world. The Credit Risk Officer is responsible for handling approvals for all Private Bank related loan transactions, retained on balance sheet; You will be expected to analyze and recommend approvals/declines, or new loan terms for proposed transactions for Private Bank Clients. Additional tasks include monitoring counterparty credit limits, maintaining data integrity for all names and transactions in Risk systems, and ensuring compliance with regulations and internal policies and procedures.
As an Assistant Vice President in the Credit Risk Management team covering the US Wealth Management business, your role will require carrying out independent assessment of the transactions that will include assessment of appropriateness of the loan structure and underlying collateral, securing the loan. Nature of the collateral would cover the following asset classes: marketable securities (equites, bonds, structured notes), private shares (requiring cash flow-based equity valuation), commercial real estate, hedge fund units, limited partnership investments, residential real estate, aircraft, yacht, art etc
It is the Bank’s expectation that employees hired into this role will work in the New York office in accordance with the Bank’s hybrid working model. Deutsche Bank provides reasonable accommodations to candidates and employees with a substantiated need based on disability and/or religion. The salary range for this position in New York City is $100,000 to $153,000. Actual salaries may be based on a number of factors including, but not limited to, a candidate’s skill set, experience, education, work location and other qualifications. Posted salary ranges do not include incentive compensation or any other type of remuneration.

Requirements

• Educational qualification (preferably from Tier 1 college with strong academic record): Bachelor’s or a Master’s Degree in Engineering, Finance, Economics, Statistics, Science, MBA
• Extensive experience in financial services with at least moderate experience in credit risk management (preferably corporate or commercial real estate credits)
• Possesses good analytical and writing skills and an independent decision-making mindset with ability to support or defend conclusions
• Strong Excel skills.
• Programming knowledge (Python / R / C++) will be an added advantage

Nice To Haves

• Strong self-motivation to learn and take pride in the quality of work delivered
• Ability to learn quickly to be an adept user of proprietary software
• Have an open mind and respect challenging views from stakeholders
• Programming knowledge will be an added advantage

Responsibilities

• Based on the assessment, assign credit rating and prepare a credit memo with recommendation rationale
• Diligently monitor the portfolio on an on-going basis and ensure pockets of risk within the portfolio are timely identified - be aware of global, regional and local market events and their potential impact on the portfolio.
• Ensure portfolio quality remains satisfactory, and any risk concentrations and risk limits do not exceed defined risk appetite and are compliant with risk policies and regulations
• Help in the preparation of reports and portfolio analysis for auditors, regulators and senior management
• Actively contributes to remediation efforts to address regulatory and audit findings

Benefits

• A diverse and inclusive environment that embraces change, innovation, and collaboration
• A hybrid working model, allowing for in-office / work from home flexibility, generous vacation, personal and volunteer days
• Employee Resource Groups support an inclusive workplace for everyone and promote community engagement
• Competitive compensation packages including health and wellbeing benefits, retirement savings plans, parental leave, and family building benefits
• Educational resources, matching gifts and volunteer programs

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level