Managing Director Counterparty Credit Risk

Webster Bank Counterparty Credit Management Director

Founded in 1935, Webster's focus has always been to put people first doing whatever we can to help individuals, families, businesses, and our colleagues achieve their financial goals. As a leading commercial bank, we remain passionate about serving our clients and supporting our communities. Integrity, collaboration, accountability, agility, respect, and excellence are Webster's values, setting us apart as a bank and as an employer. Come join our team where you can expand your career potential, benefit from our robust development opportunities, and enjoy meaningful work!

Reporting to the SMD of Counterparty Credit, the MD is primarily responsible for direct management and continuous improvement of the Counterparty Credit Stress Testing, Surveillance, and Reporting & Analytics functions, which encompasses a portfolio of over 50 counterparties covering a diverse set of products. The MD is responsible to :

Safeguard the Bank's interests by ensuring that Webster Bank only admits and transacts with counterparties that are financially and operationally sound and meet the expectations of Webster's management, Board, and regulators.

Demonstrate an understanding of the OCC's framework for counterparty risk management, with experience elevating counterparty analytics, and working with senior management to ensure Webster is at the forefront of credit risk management capabilities.

Responsibilities are listed in priority order :

Directly manage and continuously improve the counterparty stress testing program, including but not limited to daily PFE calculation and reporting of MTM portfolio, quarterly stress testing under various scenarios, validate comprehensiveness of stress testing data, and collaborating with partner functions responsible for stress testing the loan book and securities in first and second LOD functions.

Reporting & analytics : tracking counterparty limits, concentrations, exceptions, and potential internal / external audit findings. Further, the incumbent is responsible for building and maintaining counterparty scorecard metrics aligned to the enterprise Risk Appetite Framework (RAF), DFAST, and Reg. F responsibilities.

Active monitoring and continuously improving the counterparty surveillance program, including systematic early warning indicators of credit and financial performance deterioration.

The incumbent will work collaboratively with the SMD, CCR team, stakeholders across the front-office, Independent Risk Management (IRM) functions, and all audit partners to ensure that Webster Bank complies with Heightened Standards requirements and Large Financial Institution (LFI) preparedness measures.

Job responsibilities :

Direct management and continuous improvement of Counterparty stress testing platform (FIS Adaptiv) to produce daily PFE calculation (SA-CCR, MPoR, XVA), required for effective limits management; manage quarterly credit stress testing under various market scenarios.

Assist in managing the day-to-day counterparty limit monitoring process by tracking risk metrics vs. approved limits, addressing limit breaches, and following up on remediation efforts with front-line teams, across various trading desks.

Analyze potential wrong-way risk, stress scenarios, and concentration risks across traded products.

Manage DFAST and Reg. F reporting and monitor market developments, regulatory changes (e.g., Basel III / IV, SA-CCR), and emerging counterparty risks.

Along with SMD for Counterparty, develop, enhance, and actively leverage the surveillance program as early warning indicator of deteriorating credit and financial performance of counterparties.

Partner with Credit Risk Reporting teams to enhance existing scorecards, metrics, and models to ensure risks are appropriately captured.

Effectively communicate with team members, senior risk management, and audit on strategies related to open iss