Credit Risk Officer

Overview

At First Republic, we care about our people. Founded in 1985, we offer extraordinary client service in private banking, private business banking and private wealth management. We believe that personal connections are everything and our success is driven by the relationships we form with our colleagues and clients. You’ll always feel empowered and valued here. 
 
Incredible teams doing exceptional work, every day
The Audit, Risk, Compliance and Legal groups support First Republic’s business objectives by systematically improving the effectiveness of its risk management, control and governance processes. We own and administer these processes while educating our colleagues to best support them. Our mission is to promote a culture of compliance and to be the best partner we can to our business stakeholders.

Duties and Responsibilities

As Credit Risk Officer, you will play a critical role in ensuring continuation of First Republic’s extraordinary credit record. You will lead a team that serves as a trustedindependent resource for executive management and the Board to proactively identify, analyze, monitor, and recommend mitigation for existing and emerging credit risks. Your credit risk acumen combined with an understanding of First Republic’s unique credit philosophy will make you a trusted partner and advisor. Your inquisitiveness will drive you to dig beneath the surface to proactively anticipate emerging trends and find connections and themes in seemingly unrelated data. The observations you develop will be effectively communicated to colleagues ranging from junior analysts to the most senior executives and the Board. The position resides in Enterprise Risk Management (second line of defense) and reports directly to the Chief Risk Officer. Success in the role depends on a high degree of collaboration and partnership with colleagues throughout First Republic across first, second and third lines of defense. If you only meet some of the requirements for this role, please consider applying. We value a diverse range of backgrounds and ideas and believe this is fundamental for our future success. If you have the curiosity to learn and the willingness to teach what you know, we'd love to hear from you.
 
What you’ll do as a Credit Risk Officer:
- Proactively identify, assess, and escalate credit risks including recommended mitigation steps. Collaborate with other Risk Officers to understand the impact and intersections of related risk types (particularly market, liquidity and operational risks) on credit risk. Develop and maintain a strong understanding of the Bank’s lending operations and its impact on risk.
- Drive creative, proactive assessment of idiosyncratic risks as they arise and evolve, including climate (flood, wildfire, storm) and earthquake. Work with internal and third-party resources to conduct relevant scenario analysis. Ensure accurate measurement is achieved through collaborative agreement on assumptions. Develop near and long-term risk mitigation strategies in conjunction with business partners.
- Interface broadly with FRB executives and their teams. Maintain strongrelationships with the Bank’s Chief Credit Officer, Director of Credit Administration, Head of Lending Services, Head of Business Banking, and Head of Eagle Lending, regional and local relationship managers, and their teams. Work with each of these partners, and others, to proactively assess the Bank’s ever evolving credit risk landscape.
- Lead the Bank’s loan review process including selecting third-party loan review vendor(s) and building an internal loan review team to enable continuous monitoring of higher risk loans. Collaborate with Internal Audit to ensure adequate loan review scope/coverage. Present loan review goals and results to the Board’s Audit committee. Communicate results of loan review to enable continuous learning and improvement in the business. 
- Maintain the credit risk components of the Bank’s Risk Appetite Statementincluding qualitative statements and quantitative metrics. Proactively monitor for potential metric breaches and develop breach assessments. Develop and maintain a hierarchy of other Key Risk Indicators and Early Warning metrics. Provide robust leadership to credit-related Enterprise Risk Management processes including: Risk Metric monitoring, Risk Profile Assessments, Risk Inventory, RCSA processes, Policy Exceptions, Risk Academy, etc.
- Participate in credit-related elements of capital and liquidity stress testing.Challenge credit assumptions and develop idiosyncratic credit stress events such as earthquake or climate change.
- Serve as a voting member of Bank Enterprise Risk Management Committee,Special Asset Committee and Allowance for Credit Loss Committee. Chair the Credit Enterprise Risk Management working group.
- Contribute to risk mindset of organization through development and execution of credit-related training, participation in employee communities, and serving in the Bank’s mentoring program.
- Interface regularly with Bank regulators and rating agencies.

Qualifications

You could be a great fit if you have:
- Wide ranging credit/lending experience across relevant loan types and through multiple credit cycles. Strong understanding of economic factors that impact the banking sector, particularly lending
- Exceptional verbal and written skills; ability to communicate with top-most executives and junior-most colleagues and external parties.
- Superior analytical skills and intellectual curiosity. Enthusiasm for life-long learning and professional development
- Demonstrated leadership experience and collaborative responsibilities. Successful track record of providing extraordinary service to clients and/or internal partner
- Alignment with First Republic Bank culture and values Bachelor’s degree required; additional education in relevant areas preferred
 
We believe that a diverse range of backgrounds and ideas has and will continue to be fundamental to the future success of First Republic. 
 
If you are curious to learn more about this opportunity, we'd love to hear from you.
 
Job Demands:
- Must be able to review and analyze data reports and manuals; must be computer proficient.
- Must be able to communicate effectively via telephone and in person.
 
Own your work and your career — apply now
Are you willing to go the extra mile because you love what you do and how you can contribute as a team? Do you want the freedom to grow and the opportunity to take charge of your own career?  If so, then come join us.
 
We want hard working team players. You’ll have the independence to learn, lead and drive change. A culture of extraordinary service, empowerment and stability — that’s the First Republic way.
 
We believe that a diverse range of backgrounds and ideas has and will continue to be fundamental to the future success of First Republic.
 
If you are curious to learn more about this opportunity, we'd love to hear from you.
 
This job description is not intended to be all-inclusive. Employee may perform other related duties as assigned to meet the ongoing needs of the organization. The Company is an equal opportunity employer. In this regard, the Company makes reasonable accommodations for qualified applicants and employees with disabilities in order to enable them to perform all essential job functions, unless doing so creates an undue hardship.
 
First Republic is subject to federal laws that restrict the employment of individuals with certain types of criminal histories, including FDIA Section 19 and FINRA. To the extent not inconsistent with our obligations under those federal laws and regulations, First Republic will consider qualified candidates with criminal histories in a manner consistent with the Los Angeles and San Francisco ban-the-box laws.
 
For New York City-based roles: Mayor Bill de Blasio announced that, effective December 27, 2021, all private sector employers?in New York City will be required to ensure that their employees are vaccinated against COVID-19 to attend work in the office. Reasonable Medical or Religious Accommodations may be requested if applicable to you. Please view New York’s Guidance on Accommodations for Workers for more information.

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