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Job Description
Job: Portfolio Management Associate - Origination & Active Management
Financial Management, Other Finance, Investment Banking, Sales & Trading, Strategy role
Full Time Job
Posted on: May 12, 2021
Locations: Canada (Quebec)
Job Description:
(primary responsibilities,
reporting structure,
career path...)
Portfolio Management (PM) is a part of the Corporate and Institutional Banking activity (“CIB”). This is a transversal department with dedicated teams across the different regions.

The main mission of PM is to contribute to risk return optimization at Origination, to actively manage the financing loan books and to contribute to capital optimization. The team is responsible for monitoring the process at Origination, with Coverage, on financing transactions with a focus on consumption of resources such as capital, liquidity, balance sheet and risk-return. The team is also in charge of initiating and implementing solutions to mitigate RWA or liquidity consumption.

PM Americas (“PMA”) is a transversal department within the Corporate Platform, with a regional management scope that includes the United States, Canada and Latin America. PMA is currently composed of 3 teams with all staff located in NY and Montreal: Origination and Active Management, Credit Solutions & Products Engineering and Portfolio Analytics & Modelling (“PAM”).

PMA aims at ensuring a fair and optimal allocation of key financial resources in order to contribute to CIB value creation objective by:

Maintaining discipline at Origination by contributing to risk-return and RWA management, liquidity cost, exposure analysis and CDS/Insurance market intelligence at the Resource Allocation Committee (“RAC”), in coordination with Coverage and Business Lines
Back testing of clients profitability in liaison with Coverage, and concentration analysis
Managing the loan books of the Corporate Platform from a risk, capital, liquidity and return perspective through execution of Active Management actions (Loan Sales, hedging with CDS and Credit Insurance, Balance Sheet Securitization)
Management of the credit derivatives and CLO investment portfolio
Create and maintain an expertise center by providing tools (RAROC Tool and Portfolio Analytics) and guidance, for methodologies in credit risk-return and value creation (RAROC, CVC, EVC) for CIB
Actively monitor the Corporate Loan Book (including budgeting, forecasting and monitoring of RWA, Exposure and P&L)
Provide Senior Management including Head of CIB Americas with quarterly review of the key resources consumption across the Corporate Platform through the Strategic Resource Committee. Additionally, perform analysis and monitoring of the portfolio profitability from a risk return and value creation standpoint at client level on an ex-ante, prospective and ex-post basis

PMA has main interactions with Coverage, Global Credit Markets (“GCM”), ALM, PM Middle Office, Finance, Credit Insurance Distribution (“CID”), Legal, Compliance, Loan Trading and Global Markets.


Role at Origination (70-80%)

Responsible for processing capital commitment requests submitted to the RAC, including taking minutes, saving necessary documents in RAC Tool

Review and analyze value creation of proposed lending transactions and overall client profitability to support the decision making process for RAC members

Monitor and ensure consistency of the process at Origination

Maintain and update trends at Origination as well as those of the overall loan market

Participate in back testing of client profitability in liaison with PAM and relevant regional teams including Coverage

Contribute to periodic updates, including profitability and pricing impact of evolving regulatory reforms, to Head of Region, Coverage and Business Lines

Provide to CIB (Regions, Coverage and Business Lines) the relevant methodology, metrics and guidelines to steer the business at origination in terms of value creation (RAROC, CVC) and RWA, liquidity and balance sheet usage

On behalf of Corporate Platform, bring and share expertise regarding the value creation and cost of equity determination in coordination with CIB Finance

Support senior team members

Support improvement and enhancement of RAC Tool in collaboration with IT

Active Management Role (20-30%)

Based on a knowledge of the portfolio and the underlying credit assets (term loans, revolvers, letter of credits, etc.), assess potential Active Management actions, for capital or risk management purposes, through close interaction with Coverage and Business Lines (specifically, GCM)

Actively monitor and analyze the capital consumption and credit risk evolution of the Corporate Platform Loan assets focusing on activities and industry trends as well as single name capital/credit risk evolution

Make active management proposals

Develop and maintain contact with coverage analyst pool and GCM Origination team as crucial source of information and feed-back

Keep abreast of economic, sector and market evolution affecting the loan portfolio as well as business/regulatory trends affecting the capital consumption of the Corporate Platform

Provide recommendation to manage back-tested names, migration and concentration risks in the portfolio using publicly available information and internal resources

Propose enhancement of risk-return of a transaction by providing secondary market alternatives (such as loan sales, CDS hedging and credit insurance, and bespoke solutions in liaison with Credit Solutions & Products Engineering team) to Coverage and Business lines

If needed, execution of approved Active Management actions and risk mitigation / exposure management actions as required by Risk

Perform necessary due diligence with Coverage and related Business lines owning the assets

Ensure satisfactory completion of all due diligence (legal, compliance) and obtaining necessary approvals

Make recommendations on investments actions with a view to optimize the risk return for CIB

Other responsibilities

Provide ad hoc training to Coverage / Business lines on PM role at Origination, Capital and Liquidity topics as well as PM Active Management solutions
Job qualifications and experience, academic degrees, personal traits...

Bachelor’s in Finance or Accounting; prefer MBA/MS
3-5 years of experience working in a large international bank or financial services firm
Knowledge of financial statement analysis
Familiarity with Portfolio Management and general banking practices
Knowledge of credit risk RWA calculations and modelling
Knowledge of Basel, Dodd-Frank, Volcker and other regulatory issues affecting banks
Some experience in credit products including loans, CDS, credit insurance and securitization
Experience in using Bloomberg Terminal
Modelling skills and VBA programming are a plus
CFA is a plus

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