Counterparty Credit Risk Analyst (Finance)
Wintrust is a financial holding company with approximately $62 billion in assets whose common stock is traded on the NASDAQ Global Select Market. Guided by its “Different Approach, Better Results” philosophy, Wintrust offers the sophisticated resources of a large bank while providing a community banking experience to each customer. Wintrust operates more than 200 retail banking locations through 16 community bank subsidiaries in the greater Chicago, southern Wisconsin, west Michigan, northwest Indiana, and southwest Florida market areas. In addition, Wintrust operates various non-bank business units, providing residential mortgage origination, wealth management, commercial and life insurance premium financing, short-term accounts receivable financing/outsourced administrative services to the temporary staffing services industry, and qualified intermediary services for tax-deferred exchanges. Our unique business model is a competitive strength and value driver, powered by our talented colleagues who put our customers first and achieve better results for our clients.
Why join us?
An award-winning culture! We are rated a Top Workplace by the Chicago Tribune (past 11 years) and Employee Recommended award by the Globe & Mail (past 6 years).
Competitive pay and discretionary or incentive bonus eligible.
Comprehensive benefit package including medical, dental, vision, life, a 401k plan with a generous company match and tuition reimbursement to name a few.
Promote from within culture.
Why join this team?
Hybrid Work Schedule – Split your time working remotely and at our Corporate Headquarters in Rosemont, IL.
We foster an inclusive environment for an individual to grow and work independently.
Opportunity to interact with management level, experienced professionals - higher visibility.
Wintrust has a great culture that comes from the top down.
Gain experience and further your career by joining a growing organization.
Position Overview
The Counterparty Credit Risk Analyst reports directly to the VP of Wintrust's Counterparty Credit Risk department and will assist the SVP in executing the independent 2nd line of defense function. The fundamental goal of Counterparty Credit Risk Oversight is to ensure Wintrust's credit assessment practices for non-lending counterparties (e.g., our Treasury, Corporate, Insurance, Sovereign, Mortgage and Non-Profit counterparties, as well as our Critical Third-Party Vendors) are appropriate for the size and scope of the organization and in line with supervisory guidance.
What You'll Do
Assist in the regular credit review cycle to ensure that the financial condition of our material non-lending counterparties is analyzed and rated at least annually and monitored throughout the year. This task involves conducting credit reviews of our non-lending counterparties (defined above). A key component of these reviews is the analysis of financial statements to identify credit risks and mitigants, and to assess trends in financial institutions' capital adequacy, profitability, asset quality, and liquidity/funding management.
Assist the VP/SVP in ensuring Wintrust's credit assessment practices and policies for non-lending counterparties are appropriate for the size and scope of the organization and in line with supervisory guidance and assist in the annual review of our counterparty credit risk policy and procedures.
Conduct financial due diligence for vendors by analyzing financial statements of various types, examining market trends and economic data, and utilizing credit risk tools to effectively interpret a company's financial performance.
Complete OFAC or other background checks on financial counterparties as required.
Assist in the maintenance of the department's credit risk management system, Moody's Credit Catalyst, monitor exposure relative to limits, and ensure non-lending counterparty credit exposure is captured in the system.
Remain up to date on regulatory guidance and practices related to counterparty credit risk management and keep abreast of current trends/industry events in the counterparty space.
Prepare, analyze, and develop various data and metric reports for counterparty credit risk management using Excel and PowerPoint and assist in the monitoring and reporting of appropriate counterparty credit risk appetite metrics and KRIs.
Qualifications
Bachelor's degree required, MBA a plus.
Minimum 1-2 years working within a 1st line commercial credit analysis team or performing 2nd line counterparty credit risk oversight activities in an Enterprise Risk Management function at a financial institution with experience in financial statement analysis. Includes ability to identify credit risks and mitigants, and to assess trends in a firm's capital adequacy, profitability, asset quality, and liquidity/funding management for a wide variety of counterparty types.
Knowledge and experience with counterparty credit risk management practices is desirable, including knowledge of the banking industry and regulatory guidelines as they relate to safety and soundness and counterparty credit risk management practices including SR 11-10 (Interagency Supervisory Guidance on Counterparty Credit Risk Management).
Excellent written and interpersonal communication skills, with a strong emphasis on attention to detail and the ability to present information clearly and concisely. Ability to work effectively with others to achieve common goals and build positive relationships with colleagues and partners, both internally and externally.
Highly skilled in financial statement analysis and an understanding of basic accounting principles.
Strong Excel skills with working knowledge of VLOOKUP, pivot tables and reporting are required. Use of Moody's and S&P market-implied credit rating tools and experience working with the Bloomberg Terminal is preferred.
Benefits
Medical Insurance • Dental • Vision • Life insurance • Accidental death and dismemberment • Short-term and long-term Disability Insurance • Parental Leave • Employee Assistance Program (EAP) • Traditional and Roth 401(k) with company match • Flexible Spending Account (FSA) • Employee Stock Purchase Plan at 5% discount • Critical Illness Insurance • Accident Insurance • Transportation and Commuting Benefits • Banking Benefits • Pet Insurance
Compensation
The estimated salary range for this role is $59,000-$69,000, along with eligibility to earn an annual bonus. Actual salaries may vary based on several factors, such as a candidate's qualifications, skills and experience.
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From our first day in business, Wintrust has been proud to serve a variety of unique communities and people from all walks of life. To be Chicago's Bank® and Wisconsin's Bank®, we need to reflect that diversity both in all the communities we serve, the people we employ, the organizations we work with, and our banking and lending practices. Wintrust Financial Corporation, including community banking and financial services subsidiaries, is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, national origin, sex, sexual orientation, gender identity and expressions, genetic information, marital status, age, disability, or status as a covered veteran or any other characteristic protected by law.
