SVP, Credit Risk Officer

SVP, Credit Risk Officer (CRO), is a key leadership position reporting directly to the Chief Risk Officer. The CRO is responsible for developing and implementing a comprehensive credit risk management framework and strategy that aligns with the company’s objectives and risk appetite. This includes the oversight of credit risks associated with investment portfolios and counterparties and plays a crucial in identifying, assessing and mitigating of the risks involved. The role will involve close cross-functional collaboration with Investments, Treasury, Growth & Optimization, Actuarial/Pricing, and Legal. The successful candidate will also be responsible for building and managing a high-performing team to execute the risk management strategy.  This role will be aligned to our Jersey City, NJ office on a hybrid basis. 

What You Will Do:

Leadership, Strategy and Governance

• Provide strategic direction for the Credit Risk function, aligning risk management strategies with the company's objectives.
• Develop and implement an enterprise-wide credit risk management framework, policies, and procedures, in alignment with the company’s overall risk appetite and financial risk framework.
• Present regular reports to management and board risk committees on credit exposures, portfolio performance, and emerging risks.
• Stay abreast of industry trends, emerging risks, and innovations in credit risk management.

• Stay informed on evolving regulations and standards that may impact credit risk.

• Proactively identify opportunities to enhance risk management processes and tools.
• Recruit, build, and lead a high-performing team of credit and investment risk professionals.
• Foster a collaborative, inclusive and innovative team culture focused on achieving organizational goals and continuous learning.

Credit Risk Management and Oversight

• Oversee the identification, assessment, and management of the credit risk within the company's investment portfolios, and with our derivatives, financing, reinsurance and other counterparties.
• Partner with the Investments team on reviewing new investment products and strategies, new transactions, and new investment mandates and provide risk oversight.
• Partner with the Investments team to develop and enhance credit risk analytics, including but not limited to credit monitoring and early warning systems, stress testing, and economic capital.
• Partner with the Investments team to perform regular portfolio surveillance and credit review, implement robust risk assessment methodologies to identify potential vulnerabilities, and develop strategies to mitigate risk exposure.
• Provide credit risk input to assist the Investments team for asset allocation, portfolio construction and relative value analysis.
• Where applicable, work closely with underwriting and actuarial teams to assess the financial strength of reinsurance counterparties.
• Develop and implement credit risk policies and procedures to safeguard the company's financial interests.

Risk Reporting

• Direct the development and enhancement of risk models to assess credit risk.
• Utilize analytics to provide insights into risk exposures and support decision-making processes.
• Oversee the monitoring of investment limits and review exceptions and remediation plans.

• Regular report to management and board risk committees on credit risk exposures, trends, portfolio performance, and emerging risks.

• Lead efforts in credit risk-related regulatory reporting and liaise with regulators as required.

What You Will Have:

• Bachelor's degree in Finance, Economics, Risk Management, or a related field.
• At least 15 years in financial and credit risk management within financial services, with at least 5 years in a leadership role within insurance, reinsurance, banking, or asset management.
• Proven leadership experience in managing and developing high-performing teams.
• Strong understanding of financial markets, investments and credit underwriting, trading activities, and risk modeling techniques.
• In-depth knowledge of regulatory requirements related to investments risk management.
• Excellent analytical and quantitative skills, and in-depth asset class knowledge around structured products and private credit.
• Experience with credit risk modeling, stress testing, and scenario analysis.
• In-depth knowledge of regulatory requirements related to investment and credit risks.
• Strategic thinker with the ability to translate strategy into actionable plans.
• Strong communication and interpersonal skills, with the ability to effectively engage with senior management, board and external stakeholders.
• Results-oriented and able to drive initiatives to completion.
• Adaptable and able to thrive in a dynamic and fast-paced environment.

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