Head of Capital Markets Credit Risk

Description

We are seeking a highly accomplished and strategic Executive to lead our Capital Markets and Leveraged Finance Credit Risk Management function. This critical leadership role is responsible for overseeing the identification, assessment, mitigation, and ongoing monitoring of credit risks associated with the firm's leveraged finance portfolio, syndicated loans, and other capital markets transactions. The ideal candidate will possess deep expertise in corporate finance, credit analysis, regulatory requirements, and a proven track record of developing and implementing robust risk frameworks in a dynamic market environment. This role demands exceptional judgment, strong leadership capabilities, and the ability to partner effectively with business lines to enable responsible growth while safeguarding the firm's financial stability.

Key Responsibilities:

Strategic Leadership & Framework Development:

• Develop, implement, and continuously enhance the credit risk appetite, policies, procedures, and methodologies for the Capital Markets and Leveraged Finance portfolios, ensuring alignment with overall firm strategy and regulatory expectations.
• Lead the strategic direction of credit risk management for these complex portfolios, anticipating emerging risks and market trends.
• Establish and maintain robust risk limits and early warning indicators for the leveraged finance book.

 Credit Underwriting & Adjudication:

• Oversee and, where appropriate, directly conduct comprehensive credit risk assessments for proposed leveraged financing transactions (e.g., LBOs, recapitalizations, M&A financings), including deep dives into financial models, forecast EBITDA, capital structure, and syndication strategies.
• Lead the credit approval process for new lending activities and other complex credit requests, making informed recommendations to senior management and credit committees.
• Ensure all credit adjudications adhere strictly to internal policies, risk appetite, and regulatory requirements (e.g., U.S. Leveraged Lending Guidance).
• Possess a strong understanding of debt hedging strategies that minimize financial risks and enhance overall profitability. Collaborate across line of business, finance, and treasury to ensure alignment against all financial goals. 

 Portfolio Management & Monitoring:

• Manage and monitor the ongoing credit risk of the existing Capital Markets and Leveraged Finance portfolio, including performing periodic reviews, evaluating financial covenant compliance, and assessing industry trends.
• Identify, escalate, and proactively manage deteriorating credits and other problem situations, ensuring timely and effective remedial actions.
• Ensure risk ratings are accurate, dynamic, and reflect a forward-looking view of client creditworthiness.
• Prepare and present comprehensive credit reports, risk assessments, and portfolio reviews to senior management, risk committees, and regulators.

Due Diligence & Client Interaction:

• Lead and/or participate in client due diligence activities, attending meetings with clients, sponsors (e.g., private equity firms), and other banks to gain a deep understanding of business models, management teams, and industry sectors.
• Critically review legal documentation (e.g., credit agreements) to ensure terms are appropriate, consistent with credit approvals, and adequately protect the firm's interests.

 Regulatory Compliance & Engagement:

• Ensure full compliance with all relevant regulatory requirements, guidelines, and supervisory expectations pertaining to credit risk management in capital markets and leveraged finance.
• Serve as a key point of contact for internal and external auditors and regulators on credit risk matters within the designated portfolios.
• Contribute to regulatory reporting and stress testing exercises.

 Team Leadership & Development:

• Lead, mentor, and develop a high-performing team of credit risk professionals, fostering a culture of continuous learning, strong analytical rigor, and proactive risk management.
• Provide expert guidance and thought leadership to junior team members and colleagues across the firm.

 Cross-Functional Collaboration:

• Collaborate effectively with front office origination teams, syndication, legal, compliance, operations, and other risk functions to ensure seamless execution, alignment of objectives, and robust risk controls.
• Challenge business proposals constructively to ensure a balanced approach to risk and return.

Qualifications:

• Proven leadership capabilities, sound judgment, high ethical standards, and the ability to make difficult decisions under pressure.
• Minimum of 15+ years of progressive experience in credit risk management within capital markets, with a significant focus on leveraged finance, at a reputable financial institution (e.g., investment bank, large commercial bank.)
• Extensive experience with non-investment grade credit analysis, underwriting, and portfolio management.
• Demonstrated leadership experience, including managing and developing a team.
• Education: Bachelor's degree in Finance, Economics, Accounting, or a related quantitative field required. MBA or CFA highly preferred.

 Technical Skills:

• Expertise in corporate finance, financial accounting, and financial modeling (LBO models, projection models, valuation).
• Deep understanding of leveraged finance products, structures, market dynamics, and syndication processes.
• Strong knowledge of credit derivatives, loan trading, and related market risks.
• Proficiency with financial data platforms (e.g., Bloomberg, Refinitiv) and risk management systems.
• Regulatory Knowledge: Comprehensive understanding of relevant U.S. leveraged lending guidance, Basel frameworks, and other applicable financial regulations.
• Analytical & Problem-Solving Skills: Exceptional analytical, critical thinking, and problem-solving abilities, with a keen eye for detail and the capacity to synthesize complex information into actionable insights.

 Communication & Interpersonal Skills:

• Superior verbal and written communication skills, with the ability to articulate complex credit issues clearly and concisely to senior management, external stakeholders, and non-technical audiences.
• Strong presentation skills and ability to influence outcomes.
• Excellent interpersonal skills with the ability to build strong relationships and collaborate effectively across all levels of the organization.

Pay Transparency 

The salary range for this position is $275,000- $350,000 per year, plus an opportunity to earn an annual discretionary bonus. Actual pay is based on various factors including but not limited to the work location, and relevant skills and experience.   

We offer competitive pay, comprehensive medical, dental and vision coverage, retirement benefits, maternity/paternity leave, flexible work arrangements, education reimbursement, wellness programs and more. Note, Citizens’ paid time off policy exceeds the mandatory, paid sick or paid time-away policy of every local and state jurisdiction in the United States. For an overview of our benefits, visit https://jobs.citizensbank.com/benefits.

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Equal Employment Opportunity

Citizens, its parent, subsidiaries, and related companies (Citizens) provide equal employment and advancement opportunities to all colleagues and applicants for employment without regard to age, ancestry, color, citizenship, physical or mental disability, perceived disability or history or record of a disability, ethnicity, gender, gender identity or expression, genetic information, genetic characteristic, marital or domestic partner status, victim of domestic violence, family status/parenthood, medical condition, military or veteran status, national origin, pregnancy/childbirth/lactation, colleague’s or a dependent’s reproductive health decision making, race, religion, sex, sexual orientation, or any other category protected by federal, state and/or local laws. At Citizens, we are committed to fostering an inclusive culture that enables all colleagues to bring their best selves to work every day and everyone is expected to be treated with respect and professionalism. Employment decisions are based solely on merit, qualifications, performance and capability.