Position Summary

The Insurance Credit Risk Manager will be the primary owner of the insurance member credit portfolio and will also contribute to depository member analysis. This position includes the preparation and maintenance of key credit risk reports including insurance, depository and high-risk member analysis. This role includes performing key processes including underwriting new insurance and depository member applications, determining insurance member internal credit ratings and responding to regulatory changes. This position requires performing special projects as needed. Effective verbal and written skills are needed to effectively communicate findings and best serve the membership and Bank.

Primary Success Factors

• Serves as subject matter expert on insurance company credit.

• Utilizes various reports and systems to monitor insurance member internal credit ratings (ICRs), exposure, key ratios and capital positions. Gathers financial data including annual reports, regulatory examination reports, enforcement actions, press releases, stock prices, NRSRO reports and trend data to aid in the risk analysis of members.

• Manages the insurance credit review framework and process consistent with a disciplined and balanced risk management approach.

• Prepares and maintains detailed and complex financial analyses for key committee reports and for Top 20 and Watchlist insurance members on at least a quarterly basis. These reports include a key ratio analysis, peer comparisons and trend data. The Watchlist includes recommendations on the appropriateness of the current rating and collateral delivery status. Develop ad hoc studies on member credit risk including surveys of the Bank system or projects for senior management.

• Presents analyses and makes credit risk recommendations regarding member risk rating and status mitigants to senior management and management committees. Monitors insurance companies for compliance and exception purposes.

• Completes the underwriting portion of new insurance member applications. Researches and summarizes complex organizational structures and lines of business. Coordinates the completion of the application with Legal, Member Services and Centralized Operational Resources departments.

• Owns the insurance company scorecards, including recommending and implementing changes, if any, and creating new tools to monitor insurance company eligibility and credit quality.

• Monitors rules and regulations that may impact how credit risk is measured and how collateral position may be calculated for the membership.

• Independently completes special projects independently, including researching, developing presentations, and summarizing key take-aways

• Contributes to an effective internal control environment within the credit area that values conformity with Bank policies and procedures and regulatory requirements.

Required Experience

• Bachelor’s degree in Business Administration, Accounting, Finance or related field, or equivalent work experience required

• Seven or more years of experience in the financial services industry, including understanding and analysis of insurance companies

• Demonstrated understanding of depository and insurance company credit risk analysis concepts and principles, including credit risk measurement practices

• General understanding of depository institution financial statements, in particular bank balance sheets; working knowledge of common types of loans and investment securities

• Working knowledge of key loan and investment security Call Report schedules

• Exceptional analytical and problem-solving abilities in order to research, analyze and evaluate the credit risks associated with member financial institutions and the impact of changing regulations. Ability to summarize findings in a clear and concise format, both verbally and in writing

• Knowledge of bank credit risk systems, such as credit limits, approval and workflow systems

• Ability to communicate effectively with management, internal staff and peers, as well as externally with members, vendors and regulatory agency personnel

• Demonstrated self-starter requiring only modest supervision, effective time management skills

• Database skills such as Microsoft Office Suite

• Experience with Tableau a plus