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Senior - FSRM CMCR CCAR
IN-Karnataka-Bangalore Job Purpose
EY's Financial Services Office (FSO) is a unique, industry-focused business unit that provides a broad range of integrated services that leverage deep industry experience with strong functional capability and product knowledge. FSO practice provides integrated advisory services to financial institutions and other capital markets participants, including commercial banks, investment banks, broker-dealers, asset managers (traditional and alternative), insurance and energy trading companies, and the Corporate Treasury functions of leading Fortune 500 Companies . The service offerings provided by the FSO Advisory include: market, credit and operational risk management, regulatory advisory, quantitative advisory, structured finance transaction, actuarial advisory, technology enablement, risk and security, program advisory, and process & controls.
Within EY’s FSO Advisory Practice, the Financial Services Risk Management (FSRM) group provides solutions that can help FSO clients to identify, measure, manage and monitor the market (trading book), credit (banking book), operational, and regulatory risks associated with their trading, asset-liability management, capital management and other capital markets activities.
In the wake of regulatory reforms, banks are focusing on assessing their assets portfolios for credit risks. As part of Credit Analytics team, you will support banks / financial service institutions in internal risk management and comply with various regulatory laws. For example they help ensure banks have robust, forward-looking capital planning processes that account for their unique risks and sufficient capital to continue operations through times of economic and financial stress. They verify whether the banks have maintained fairness and not discriminated against the minorities in the lending process.
CMCR Team Overview
CMCR is a team within FSRM supporting projects related to all aspects of Capital Management and Credit Risk and has a specific focus on CCAR end-to-end processes.
CCAR is a set of regulatory expectations of the Federal Reserve Board (FRB) to oversee capital adequacy, capital distribution and capital planning processes of large U.S. Bank Holding Companies (BHCs) and U.S. Intermediate Holding Companies (IHCs).
CMCR team works closely and in an integrated manner with CCAR Technology and CCAR Quantitative Analytics teams to support large U.S. banking organizations/ financial services institutions to comply with FRB’s CCAR requirements. The team supports financial institutions to ensure that they have robust, forward-looking capital planning processes, and that they can account for their unique risks during times of economic and financial stress.
CMCR Consultant Responsibilities: · Assess and evaluate risk management processes (risk inventory and risk appetite)
· Assist banking organizations in developing projections framework (for baseline and stress scenarios) across income statement, balance sheet, RWA and regulatory capital
· Assess internal capital adequacy metrics, strategic direction and risk-weighted assets
· Ensure the validity and reliability of information pertaining to Federal Reserve Basel III and Regulatory Capital Reporting (FR Y-9C, FFIEC 101/102, FR Y-14)
· Assist banking organizations in preparing for various CCAR and related regulations by reviewing/ assisting in stress testing, reviewing and remediating regulatory feedback, drafting or reviewing capital plans and capital planning processes.
· Assist and support banking organizations in establishing robust Governance framework,
· Effective Review and Challenge framework, documentation and model validation
- Master's degree in Business (Finance, Economics) from premier institution
- CFA / FRM / PRM / APRM / Certified Basel II or III Professional certifications a plus
- 85%+ marks in 10th and 12th
- Relevant experience in large banking organizations’ group finance (FP&A), treasury, risk management, legal or front-office (business) functions
- Working knowledge of regulatory guidelines and frameworks like Basel, CCAR, DFAST
- Knowledge of US Banking (or insurance) financial statements and drivers; US GAAP
- familiarity a plus (e.g., equity research analyst)
- Aptitude/ interest to learn and analyze specifics of US capital regulation and regulatory reporting requirements
- Exposure to various facets of risk (credit, market, operational, liquidity)
- Strong analytical reasoning skills / finance fundamentals and knowledge of various finance ratios/ metrics
- Exposure in client facing roles in a consulting environment
- Business Analysis background required with experience in gathering, analyzing and documenting requirements.
- Familiarity with statistical and numerical techniques
- Excellent presentation skills / writing skills / penchant to read and follow business and regulatory news reports
- Proficient in MS Excel, MS Word, MS Project, MS Power point
- Desire to develop and integrate qualitative skills within a required scope of designing and implementing business services
- At least 1-3 years of direct exposure to CCAR, DFAST, ICAAP, Basel-RWA calculation,
- COREP, or regulatory stress testing related engagement experience in a consulting environment. Must be considered as an SME in at least one of these areas.
- Past design of point of views (POV), working/whitepapers on Basel, CCAR, DFAST, ICAAP
- Exposure to any other areas in the Dodd Frank Act would be a plus