Credit Risk Officer - Wealth Management - Assistant Vice President

Job Title Credit Risk Officer - Wealth Management

Corporate Title Assistant Vice President

Location New York, NY

Overview

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.

What We Offer You

• 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 You’ll Do

• 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

• 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

Skills You’ll Need

• 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

Skills That Will Help You Excel

• 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

Expectations

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.

Deutsche Bank Benefits

At Deutsche Bank, we recognize that our benefit programs have a profound impact on our colleagues. That’s why we are focused on providing benefits and perks that enable our colleagues to live authenti­cally and be their whole selves, at every stage of life. We provide access to physical, emotional, and financial wellness benefits that allow our colleagues to stay financially secure and strike balance between work and home. Click here to learn more!

Learn more about your life at Deutsche Bank through the eyes of our current employees: https://careers.db.com/life

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We welcome applications from all people and promote a positive, fair and inclusive work environment.

Qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, protected veteran status or other characteristics protected by law. Click these links to view Deutsche Bank’s Equal Opportunity Policy Statement and the following notices: EEOC Know Your Rights; Employee Rights and Responsibilities under the Family and Medical Leave Act; and Employee Polygraph Protection Act.