Job purpose:
Specific to this role: Credit Officer supporting the Korean desk in the Singapore Branch International Corporates business line, located in the Singapore Branch.
This is a Group Risk Management role working closely with the Korean Client Relationship desk (3 pax) with the focus on detailed credit risk assessment and obtaining the credit decision. The credit risk assessment is on the Parent Group, usually also subsidiaries, that are located either in Korea or Europe / US / Other Asia.
In addition to actively working on new business, ongoing assessment, and monitoring of completed transactions, and ad hoc credit related projects.
Generic to Credit Officer role: Guided by the highest quality standard in decision-making, the Credit Officer (CO) decides and is primarily responsible for credit synopses which he/she processes himself/herself or within his/her group, distributes within the group according to difficulty and complexity, and discusses in individual cases. In order to obtain adequate information he/she regularly participates in client visits.
As supervisor the CO is responsible for the risk result and the risk quality of the credit portfolio within his/her responsibility. The CO shares responsibility for the performance (gross / value contribution margin) of the exposure he/she processes in the corporate lending business. In the context of managerial duties, the CO is guided by the Bank’s strategic goals, business policy focus and, in particular, its credit risk strategy. In addition, the CO ensures compliance with Service Level Agreements entered into with Market units (Time to Market). He/she disposes of extensive competencies and lending authorities and uses them in responsible manner within his portfolio responsibility and to influence a risk adequate pricing. Cases within his/her own 4 eyes-lending authority he/she acts as final decision maker and cannot be overruled on his/her authority level by the market side. For superseding authority levels the CO adopts the higher competence, submits decision proposals and exposes files when indicated in the decision making bodies of the segment credit committee of Corporate International or, if applicable, in the Group credit committee (KK).
In the context of his executive function the CO promotes self-initiative, readiness to perform, constructive co-operation and team spirit through clear job definition, delegation of responsibility and adequate information.
In his/her team the CO points out deficits as well as necessities for improvement and pursues these consistently. He/she continuously optimizes task execution and promotes exchange of information, ideas and experience.
Key activities:
Specific to tise role:
- New position to establish Corporate Credit Risk Management expertise to support Korean desk.
- Strong track record as risk manager. Mandatory - good experience of risk assessment of Korean corporate clients and their subsidiaries. Good understanding of Korean Group structures. Products: Syndicated and Bilateral Loans, Export Credit Agency Covered Loans, Various types of Guarantees, Trade Finance instruments, Derivative products.
- Strong ability to confidently participate in meetings with clients where required.
- Liaison and close working involvement with the Credit Officers and Managers in other Commerzbank branches and across different time zones.
- Evaluation and structuring of potential transactions within risk guidelines and policies including the preparation of Credit Applications and Internal Credit Ratings. Including cash flow modelling, return analysis as well as coordination with other bank support functions in connection with transactions in the existing portfolio. Involvement in post approval documentation.
- Where required, assist in the external due diligence process as part of the credit process.
- Monitoring of portfolio will include evaluation of potential deteriorations in the credit condition of individual transactions. Stay up to date on industry trends and current market conditions.
Generic to Credit Officer role:
Junior (related to exposures with a low degree of risk):
- To improve risk result and risk quality (risk mitigation) of the credit portfolio within his/ her decision-making authority
- To ensure a well-balanced situation between risk and earnings
- To analyse the financial and economic situation of the borrower (incl. balance sheet analysis on internationally accepted accounting principles, business development trends, in particular future-orientated cash flow analysis etc.) and decision-making regarding case-related core segmentation criteria
- To be involved in the gathering of information about customer, as well as about current development of respective industry sector i.e. regular participation in customer visits
- To ensure a consistent, risk-sensitive and rule-compliant rating assessment
- Risk identification and early recognition, perception of potential risks
- Classification of risk (depending on the situation) in dialogue with other COs to guarantee a consistent and coherent credit policy
- Consideration of portfolio targets within one’s area of responsibility, including controlling and reporting
Intermediate (additional; related to exposures with a medium degree of risk):
- Investigation, definition and rule-compliant reporting of engagements with significantly downgraded creditworthiness (Intensive Care)
- Duty to inform Local Credit Officer (LCO) concerning process disruptions, problem issues and significant individual case decisions
- Compliance with Service Level Agreements (qualitatively and quantitatively)
- To ensure data quality in consideration of regulatory standards,
- Promotion of know-how transfer, expertise and teambuilding
- Supply of necessary information from his/her own sphere of activity for the preparation of Industry Batches
- To support the Local Credit Officer (LCO) in risk management related tasks e.g. portfolio analysis
- To participate in projects and also to lead them if required.
Formal education:
- University degree in Accounting / Business / Financial discipline.
- Other postgraduate of professional qualifications in finance related fields.
Specialist knowledge (work experience, further qualification):
- Work experience
- Minimum 3 years Risk Management of Korean corporates for Associate level, 5 years AVP level, 7 years for VP level, either within an International bank, Korean Headquartered bank, or Leading Rating Agency. (Mandatory).
- Demonstrable track record of transaction execution across multiple Korean corporates / sectors (Mandatory).
- Good command of Korean language at a minimum level of C1 (CEFR) or Level 5 (TOPIK) for non-native speaker as this role will need to liaise frequently with Korean speaking clients (Mandatory)
- Formal Credit risk trained and full understanding of lending principles (Mandatory)
- Excellent communication in English as well as presentation and marketing skills. Basic German language an advantage. Open to travel to Korea on an ‘as required’ basis.
- Extensive experience with Microsoft Word, Excel, PowerPoint, especially financial models, and rating systems
- Positive attitude to take on special tasks involving inter branch liaison and dealing with Head Office on risk operational issues.
- Ideally has existing network in the Korean Credit Risk Officer network.
- Strong knowledge of commercial and corporate banking products is an advantage.
- Detailed knowledge of loan and security documents.
- Knowledge of general and internal regulations, workflows and local (MAS) regulatory guidelines
- Knowledge of a future-orientated cash flow analyses
- Knowledge of the evaluation, implementation, and monitoring of portfolio structures
- knowledge of the general sector analysis
- Further Qualifications
- Self-confident, willing to make decisions and able to justify and communicate professionally, calmly, and clearly. Able to approach problems and resolve potential conflicts in a constructive and structured manner.
- Strong team player
- Self-motivated and resourceful. Ability to handle multiple tasks and adapt to a changing business environment
