Managing Director Counterparty Credit Risk

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Reporting to the SMD of Counter party Credit, the MD is primarily responsible for direct management and continuous improvement of the Counter party Credit Stress testing, Surveillance and Reporting & Analytics functions, which encompasses a portfolio of over 50 counter parties covering a diverse set of products.

• Safeguard the Bank’s interests by ensuring that Webster Bank only admits and transacts with counter parties that are financially and operationally sound and meet the expectations of Webster’s management, Board and regulators.
• Demonstrate an understanding of the OCC’s framework for counter party risk management, with experience elevating counter party analytics, and working with senior management to ensure Webster is at the forefront of credit risk management capabilities.

• Directly manage and continuously improve the counter party stress testing program, including but not limited to daily PFE calculation and reporting of MTM portfolio, quarterly stress testing under various scenarios, validate comprehensiveness of stress testing data, and collaborating with partner functions responsible for stress testing the loan book and securities in first and second LOD functions.
• Reporting & analytics: tracking counter party limits, concentrations, exceptions and potential internal/external audit findings. Further, the incumbent is responsible for building and maintaining counter party scorecard metrics aligned to the enterprise Risk Appetite Framework (RAF), DFAST and Reg. F responsibilities.
• Active monitoring and continuously improving the counter party surveillance program, including systematic early warning indicators of credit and financial performance deterioration.

The incumbent will work collaboratively with the SMD, CCR team, stakeholders across the front-office, Independent Risk Management (IRM) functions and all audit partners to ensure that Webster Bank complies with Heightened Standards requirements and Large Financial Institution (LFI) preparedness measures.

• Direct management and continuous improvement of Counter party stress testing platform (FIS Adaptiv) to produce daily PFE calculation (SA-CCR, MPoR, XVA), required for effective limits management; manage quarterly credit stress testing under various market scenarios.
• Assist in managing the day-to-day counter party limit monitoring process by tracking risk metrics vs. approved limits, addressing limit breaches, and following up on remediation efforts with front-line teams, across various trading desks.
• Analyze potential wrong-way risk, stress scenarios, and concentration risks across traded products.
• Manage DFAST and Reg. F reporting and monitor market developments, regulatory changes (e.g., Basel III/IV, SA-CCR) and emerging counter party risks.
• Along with SMD for Counter party, develop, enhance, and actively leverage the surveillance program as early warning indicator of deteriorating credit and financial performance of counter parties.
• Partner with Credit Risk Reporting teams to enhance existing scorecards, metrics, and models to ensure risks are appropriately captured.
• Effectively communicate with team members, senior risk management, and audit on strategies related to open issues, testing results, corrective measures, and closure of audit/regulatory issues.
• Underwriting and other responsibilities, as needed.

• Bachelor’s Degree Required-Business, Finance, Accounting or Economics preferred.
• 7-10…