ERM Credit Risk Management COO

New York NY
February 22 2018
Insurance, Securities

Functional Area:

RK - Risk

Estimated Travel Percentage (%): No Travel

Relocation Provided: No

AIG Employee Services, Inc.

  • Partner with the AIG CCO to develop and implement risk management strategy, infrastructure, and policies and procedures in a manner consistent with AIG's global credit risk appetite and global Credit Risk Policy
  • Develop IT systems to capture, measure, and evaluate risk positions, concentrations, and trends across all AIG credit risk portfolios. Define a comprehensive vision of our business requirements, including data, process tools, and reporting. Manage relationship with ERM and IT teams to continuously define specifications, establish priorities and implementation dates, and communicate progress/issues to ERM management.
  • Develop, implement, and maintain a comprehensive library of credit policies and procedures across all of areas of responsibility across investments, insurance and capital markets. Ensure that we maintain comprehensive and current delegations of credit authority appropriate for BU risk taking
  • Develop and implement processes and reporting that ensure compliance with all policy and procedural requirements
  • Lead project management efforts across all initiatives
  • Manage critical surveillance processes including OTTI, Watch List, Weekly Risk Meetings, Portfolio Reviews, and Above Threshold reviews
  • Lead tracking of, and implementing solutions to, all regulatory requirements affecting AIGI credit risk management.
  • Oversee staffing support issues - lead coordination effort between ERM and HR on headcount planning, hiring, termination, training, performance review, job grading, compensation, etc.
  • Lead relationship with other support groups including Legal, Compliance, IT to ensure fluid communication of overlapping issues and forum for agreeing objectives and addressing obstacles.
  • Manage a small staff responsible for administration of policies and procedures, generating reports, processing and managing certain types of credit data, documenting credit meeting minutes

Professional Experience Requirements

  • Credit risk management infrastructure design, implementation and operation at a major financial institution
  • Exposure to multiple asset classes including corporate bonds, structured products, commercial real estate, loans, equities and alternatives, and insurance credit products
  • Highly organized, excellent project management skills
  • Excellent communication skills and capable of building relationships with professionals at all levels within a complex organization
  • Familiarity with counterparty credit risks and infrastructure needs arising from trading activities including derivatives and cash management
  • Experience designing and implementing a sound control environment including policies, procedures, analytics, and reporting
  • Familiarity with personnel related operations including hiring, compensation, and performance management
  • 10+ years of experience preferably in a risk management organization
  • Graduate degree in Finance or Accounting preferred

It has been and will continue to be the policy of American International Group, Inc., its subsidiaries and affiliates to be an Equal Opportunity Employer. We provide equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories.

At AIG, we believe that diversity and inclusion are critical to our future and our mission - creating a foundation for a creative workplace that leads to innovation, growth, and profitability. Through a wide variety of programs and initiatives, we invest in each employee, seeking to ensure that our people are not only respected as individuals, but also truly valued for their unique perspectives