Director - Credit Risk

About the role

Clear Street is at the forefront of revolutionizing the brokerage industry. In the capacity of Director of Credit Risk, you will be an integral part of the Risk Management Team, spearheading the formulation and execution of the credit risk strategy as the company grows. This role requires a highly experienced professional who can effectively manage a complex portfolio of institutional clients, serve as a point of contact for regulators and auditors, and enhance the firm's credit risk framework.

Key facts

What you'll do

• Conduct thorough evaluations of the creditworthiness and financial stability of potential counterparties by performing detailed credit analyses that encompass both quantitative metrics and qualitative insights.
• Monitor credit risk exposures on a daily basis across the client portfolio, executing regular analyses to detect trends or concentrations that may pose risks.
• Provide guidance and communicate the firm's credit exposure limits across different trading products, ensuring compliance with internal policies and methodologies.
• Serve as the main point of contact during regulatory audits and examinations, engaging with entities such as the SEC and FINRA, preparing necessary documentation, addressing findings, and ensuring timely follow-up actions.
• Collaborate with teams across Sales & Trading, Legal, Operations, and Compliance during the client due diligence process, legal negotiations for traded products, and initiatives aimed at improving operational efficiency.
• Develop and refine credit risk models and frameworks to ensure they align with industry best practices and regulatory expectations.
• Lead efforts to enhance the firm's credit risk assessment processes, ensuring they are robust and scalable as the business expands.
• Regularly report on credit risk metrics and trends to senior management, providing insights that inform strategic decision-making.

Requirements

• A bachelor's degree in finance, economics, or a related quantitative field; a master's degree or CFA designation would be beneficial.
• A minimum of 8-10 years of experience in credit risk management, particularly within prime brokerage, broker-dealer, or investment banking settings.
• Proven track record of engaging directly with regulators (such as the SEC and FINRA) and external auditors, including leading responses to examinations and managing audit requirements effectively.
• In-depth understanding of counterparty credit risk associated with prime brokerage products, including securities financing, margin lending, derivatives, cleared products, and digital assets.
• Excellent communication skills, with the ability to convey complex risk-related issues clearly to senior management, clients, and external stakeholders.
• Strong analytical skills and attention to detail, with a proactive approach to identifying and mitigating risks.

Nice to have

• Familiarity with digital assets and the unique credit risks they present.
• Experience in developing and implementing credit risk management frameworks in a rapidly changing environment.
• Knowledge of advanced credit risk modeling techniques and tools.

Skills & tools

• Proficient in credit analysis methodologies and tools, with a strong grasp of quantitative risk assessment techniques.
• Familiarity with regulatory frameworks and compliance requirements pertinent to the financial services industry.
• Competence in using risk management software and data analysis tools to support credit risk assessments.

Practical notes

The base salary for this role is projected to be between $180,000 and $250,000, contingent upon relevant experience, skill set, and geographic location. This figure represents the initial base salary and does not encompass bonuses or equity, which are integral components of the overall compensation package. Clear Street offers competitive salary structures, equity options, 401k matching, gender-neutral parental leave, and comprehensive health benefits including medical, dental, and vision insurance. Employees are expected to work in the office four days a week, with in-office perks such as lunch stipends, fully stocked kitchens, social events, and a prime location with stunning views. Clear Street is dedicated to cultivating a collaborative work environment and proudly stands as an equal opportunity employer.