In a changing world, unprecedented challenges require unmatched talent. Join one of Montreal’s Top Employers in 2024. We are a dynamic and growing organization having its main establishment located in downtown Montreal and part of a leading international banking institution fully committed to building a more sustainable future. Note that the position may be in the Canadian Branch of BNP Paribas or in one of its subsidiaries based in Montreal.
The position at a glance
The primary role of the vice president in Credit Risk Review is to perform (and lead) risk-based reviews of the bank’s credit portfolio to timely and accurately identify credit weaknesses, which then informs management of how-to best risk manage the credit portfolio.
The purpose of Credit Risk Review is to provide the relevant governing bodies, including the Board Risk Committee/US Risk Committee, and senior management with an independent assessment of BNP Paribas credit risk management processes to ensure that credit risk exposures and loan impairments are approved, managed, rated, and evaluated consistent with internal credit risk policies and regulatory guidance. This includes validation and, if necessary, adjustment of credit risk ratings; review of compliance with internal rating models and credit policies; assessment of workout plans for the reasonableness of assumptions; and determination of the reasonableness of assumptions regarding loss estimation for credits with significant weaknesses. Due to its independence, risk-rating decisions made by the credit risk review prevail over the business and RISK.
In detail
Specific responsibilities include:
- Acquiring a solid understanding of the reviewed activities
- Applying knowledge of specific industry risks, to support the development of a credit review plan for the assignment.
- Assessing adequacy and effectiveness of governance and management of credit risk.
- Perform in-depth time bound reviews of credit portfolios 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
- Collateral
- Legal documentation
- Obligor’s financial condition (profitability, balance sheet strength, cash flow and liquidity profile)
- Ratings validations require:
- Thorough understanding of relevant rating methodologies (including U.S. regulatory ratings)
- 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.
- Evaluating compliance with regulatory guidelines and bank policies.
- Evaluating complex financing transaction structures and capital markets products and the associated risks and mitigants.
- Ensuring that work is documented and communicated to stakeholders within an organized and prescribed framework.
- Adding value to the area under review by raising relevant recommendations.
- Writing quality recommendations (and sections of reports) in plain English.
- Delivering clear presentations to Senior Management and management of Credit Risk Review.
- 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.
- Liaising, as required, with the appropriate regulatory examiners.
- Developing and maintaining relationships within the bank.
- 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).
The strengths and skills that will help you succeed
- 7+ years’ experience, including 5+ years in the field of credit and counterparty risk, ideally in a risk management, credit risk review, or a portfolio management role. Experience in analyzing financial institutions (banks, brokers, hedge funds, asset managers, insurers, and pension funds).
- Strong credit analysis skills with a solid understanding of the credit process. Must be knowledgeable of and conversant with portfolio risk measurement and risk mitigation concepts and techniques. This includes :
- Concepts of probability of default and loss given default.
- U.S. regulatory credit rating system.
- Ability to analyze deals in terms of protection, including structuring and security (collateral and guarantees).
- Credit risk models.
- Ability to ensure completion of reviews within budget.
- Strong writing, verbal, and interpersonal skills are essential.
- Must be able to write with clarity, precision, and conciseness.
- Must be comfortable discussing findings and making recommendations with the appropriate balance of tact and professional assertion. Ability to “stand one’s ground” with confidence in the face of disagreement is essential.
- Must be cognizant that audience includes all levels of management and external reviewers (including internal audit, external audit, and regulators).
- Ability to discern essential matters amidst “background noise” is key.
- Ability to communicate and interact with senior management as peers.
- Ability to maintain relationships with senior and other levels of bank management to ensure transparent and open two-way lines of communication.
- A proactive mindset :
- Ability to anticipate and develop actions to address emerging issues before they become problems. This includes matters impacting the credit review function and the whole bank (this includes banking, economic, sector, and regulatory matters).
- Disposition towards continuous improvement (in terms of how credit risk review operates, efficiency, and ways to increase the “value-add”).
- A holistic/transversal view of the bank:
- Ability to see how issues identified in one area may impact other areas.
- Ability to alert all relevant members of bank management and bring parties together to collectively develop solutions.
- Good knowledge of U.S. regulatory environment, particularly regarding credit risk review and credit and counterparty risk.
- Includes experience interacting with bank regulators (including anticipation of and reaction to regulatory concerns, transparency of communication, and instilling confidence).
- Ability to develop and maintain professional relationships with industry peers.
- Bachelor’s degree in relevant subject area (e.g.: finance or accounting)
- MBA and/or relevant Professional certification (e.g. : CFA) a plus
- Given the vast majority of our clients, both internal and external, are based outside of Quebec and Canada, specific language requirements may apply. Knowledge of the English is required.
What’s in it for you
In addition to competitive compensation, we offer flexible benefits including a family and spouse insurance program, a defined contribution pension plan and paid days for volunteering. Hybrid work arrangements, such as remote working up to 50% and flexible working hours are available for most positions. BNP Paribas provides excellent training and personal development programs, as well as opportunities for career development within the company and internationally.
To find out more about our range of benefits, click here
What you need to know
- We will review candidates as they apply, so don’t wait to submit your application.
- BNP Paribas is committed to accessibility and inclusion. If you need any accommodation during the recruitment process, you can contact accessibility@us.bnpparibas.com
- You must be legally eligible to work in the Greater Montreal area and, if applicable, hold a valid work or study permit. Physical presence in BNP Paribas’ office(s) is an essential function of this position.
Diversity, Equity and Inclusion (DE&I) at the heart of our commitments
At BNP Paribas all employees are on an equal footing allowing us to create a work environment that values and respects people for their talents, skills and competences.
BNP Paribas recruits, employs, trains, compensates and promotes regardless of race, religion, colour, national origin, sex, disability, age, and other protected status (Employment Equity Act and Canadian Human Right Act).
To learn more about our DE&I commitments, click here
About us
BNP Paribas is the top bank in the European Union and a major international banking establishment. Present in 63 countries, with more than 180,000 employees, the bank holds key positions in several areas of banking and financial services.
BNP Paribas’ mission is to contribute to a responsible and sustainable economy by financing and advising its clients according to the highest ethical standards, while striving to respond to essential concerns in terms of the environment, regional development and social inclusion.
Since 1961, BNP Paribas has supported large Canadian companies and institutions in their business development by offering a full range of specialized financial services and investment products.
With over 1,400 employees, BNP Paribas in Canada continues to attract experts from diverse fields as well as ambitious young talent from around the world. We are proud to offer our employees a rewarding and international workplace where they can build their professional careers by honing their skills, meeting challenges and enriching their knowledge of the financial industry.
Our certifications and partnerships
- Montreal’s Top Employers 2024
- Canada’s Best Diversity Employers 2024
- Women in Governance – Parity certified – Platinum certification
- Pride at Work Canada
- Rainbow Accreditation issued by Canada’s LGBT+ Chamber of Commerce (CGLCC)
- Part of Les Affaires top 300 companies in Quebec
- Synclusiv
- Ready, Willing and Able
- Autisme sans Limites
- LinkedIn Top Companies 2024
Do you want to discover other BNP Paribas offers in Canada?
Click here: BNP Paribas in Canada Our job offers
** Only selected applications that meet the requirements of the role will be contacted **