At American Express, our culture is built on a 175-year history of innovation, shared values and Leadership Behaviors, and an unwavering commitment to back our customers, communities, and colleagues. As part of Team Amex, you'll experience this powerful backing with comprehensive support for your holistic well-being and many opportunities to learn new skills, develop as a leader, and grow your career.

Here, your voice and ideas matter, your work makes an impact, and together, you will help us define the future of American Express.

Commercial Rating and Underwriting (CRU) sits within the Credit & Fraud Risk division and forms a key component of the institutional credit risk management function within American Express. The CRU team plays the critical role of assessing and managing the risk of institutional exposures across all business units within American Express, and in all regions globally. Credit exposures are primarily generated through corporate card programs, via merchant service relationships where non-delivery risk exists, and among the securities portfolio held for firm-wide liquidity.

In addition to determining the internal credit rating which drives the probability of default of each exposure, CRU also provides underwriting (i.e. approval and limit sizing) for wholesale card and lending products. As a bank holding company, American Express must comply with the highest global banking standards.

How will you make an impact in this role?

Portfolio Managers in CRU are responsible for assessing and monitoring credit risk across a portfolio of large exposures in their assigned region, industry, and business line. The ultimate objective is to help minimize the risk of loss and support internal stakeholders in driving profitable growth of our corporate business
For large exposures, credit assessment is via deep fundamental analysis and incorporates a thorough review of business, its financial statements, calculation and interpretation of key credit metrics and ratios, industry and country risk, as well as consideration of signals from internal and external rating model outputs
Portfolio Managers additionally underwrite larger credit programs across our commercial services business, requiring an understanding of the need for and appropriateness of credit extension, profitability of a relationship and program structures
CRU Portfolio Managers interact with various constituents across the firm including front office sales, business unit risk partners, and credit administration to perform their critical role
Portfolio Managers are also responsible for providing secondary review of decisions relating to smaller exposures in their area of expertise, as well as providing guidance and mentoring to CRU Analysts

Portfolio Managers are also required to stay up to date with general corporate development and market sentiment, and be able to speak and write confidently on the outlook for the industries and markets in their area of responsibility

Minimum Qualifications

At least 3-5 years' experience conducting fundamental credit analysis at a leading financial institution or rating agency
Demonstrable expertise in being able to assess the qualitative strengths of a business as well as performing in-depth analysis of financial statements
Experience in commercial credit assessment and/or underwriting with the ability to underwrite and make decisions/ recommendations on short term credit lines, determining appropriate credit capacity, structuring of facilities, and risk mitigation techniques
Sound portfolio management skills
Knowledge of analyzing the outputs from credit models, and identifying any rationale for any deviation found
Knowledge of public agency ratings, and supporting analysis
Ability to understand current macroeconomic trends, and making respective sound recommendations to improve the PD estimation based on the business cycle
Ability to communicate succinct rationales for credit decisions both written and orally, including to audiences with a non-financial background

Preferred Qualifications

Desirable: CFA or another professional qualification in finance, accounting or economics
Desirable: Experience analyzing a range of industries in Europe including Financial Institutions
Desirable: Fluency in French language a considerable advantage

We back you with benefits that support your holistic well-being so you can be and deliver your best. This means caring for you and your loved ones' physical, financial, and mental health, as well as providing the flexibility you need to thrive personally and professionally:

Competitive base salaries
Bonus incentives
Support for financial-well-being and retirement
Comprehensive medical, dental, vision, life insurance, and disability benefits (depending on location)
Flexible working model with hybrid, onsite or virtual arrangements depending on role and business need
Generous paid parental leave policies (depending on your location)
Free access to global on-site wellness centers staffed with nurses and doctors (depending on location)
Free and confidential counseling support through our Healthy Minds program
Career development and training opportunities

Offer of employment with American Express is conditioned upon the successful completion of a background verification check, subject to applicable laws and regulations.

American Express Services Europe Limited

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Portfolio Manager - Commercial Rating and Underwriting