Job Description:
Job Title Senior Credit Officer
Corporate Title Vice President
Location New York, NY
Overview
The Hedge Fund Senior Credit Officer will be responsible for managing Deutsche Bank’s counterparty credit risk to US hedge fund and private equity clients. He or she will have their own dedicated funds portfolio, spanning a broad range of investment strategies, and will be responsible for approving transactions, as well as reviewing and monitoring the counterparties on an ongoing basis. The ideal professional will have extensive experience covering hedge fund and/or private equity fund clients and will be comfortable engaging directly with clients and senior Business. The Credit Officer will be a self starter, able to manage their own workload with minimal guidance, and able to train or develop more junior team members. The role will report into the Global Head of Credit Risk Management (CRM) Funds based in New York and will be part of a larger global funds team.
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 gift and volunteer programs
What You’ll Do
Undertake initial credit due diligence for new clients by way of meetings with relevant personnel at the fund manager to fully understand the investment process and strategy, risk management approach and products traded (the credit officer would be expected to run these meetings). The credit officer will then approve appropriate credit limits, margins and documentation terms on the back of their risk assessment of the hedge funds based on information gathered at the meetings and the relevant constitutional documentation provided by the client
Review and approve transaction requests for private equity funds, which typically include Foreign Exchange (FX) hedging and deal contingent trades. The credit officer will engage closely with the sales team to review proposed trade/legal structures and diligence private equity funds as part of the approval process
Play a key role in the legal documentation process to ensure that appropriate credit covenants are included in legal agreements to allow Deutsche Bank to take action to close out portfolios and terminate trades in the event of a default or any credit deterioration (e.g. a sharp deterioration in performance)
Ongoing dialogue and due diligence with clients and preparation of annual credit reviews, written reports which outline areas including the background of the fund management company, investment strategy of underlying funds, risk and liquidity management, and performance. This written report will highlight the key risks associated with each counterparty and outline the credit officer’s view of the group/funds
Manage the risk and exposures within their portfolio on an ongoing basis, using the various credit risk management and product monitoring systems within Deutsche Bank, including internal stress test information, exposure data and performance/portfolio data received on a regular basis from hedge funds. This includes day-to-day transaction approvals, setting initial margin levels for trade requests received from sales teams across the Bank, and analysis of more bespoke structured transactions
Keep up-to-date with market developments affecting the hedge fund sector, e.g. regulatory issues or weakness/stress in particular asset classes
How You’ll Lead
The Credit Officer will need to be comfortable engaging directly with top tier clients and senior Business, and take ownership of credit decisioning
The candidate will also be expected to be a seasoned Subject Matter Expert (SME) who is able to offer guidance and expertise with more junior team members
Skills You’ll Need
Degree level education or equivalent, with Extensive industry experience in managing hedge fund credit risk
Knowledge of alternative funds sector which should include an understanding of a broad range of investment strategies and their associated risks. Ideal candidate will also have prior experience in managing private equity credit risk
Product knowledge should cover all major derivative instruments and Prime Brokerage products/services with a full understanding their respective risk characteristics
Understanding of master trading documentation, particularly International Swaps and Derivatives Association (ISDA), Global Master Repo Agreements (GMRA), Futures and Options (F&O) and Prime Brokerage. This should include sound understanding and knowledge of the principal risk mitigating clauses employed across the industry
Deep knowledge of financial markets and hedge fund industry, with strong familiarity of key market participants and proven track record of managing a funds portfolio through period of market volatility
Skills That Will Help You Excel
A confident decision maker able to competently explain the reasoning, which supports credit decisions
A strong team player, capable of working alongside colleagues in an effort to achieve team goals
A self starter, able to manage their own workload with minimal guidance from senior members of the team
Articulate and at ease when interacting with internal and external clients
Ability to calculate and quantify transaction risk is also desirable but not essential
Expectations
It is the Bank’s expectation that employees hired into this role will work in the Santa Ana, California 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, pregnancy, and/or religion.
The salary range for this position in New York City is $125,000 to 203,000. 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!
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