Director, Credit Management

Job Summary:

Chubb Global Credit Management is primarily responsible for the assessment and mitigation of direct and indirect credit risk to the Chubb organization across a broad range of credit counterparties within various industries and geographies which involve contractual payment or reimbursement obligations to Chubb, namely – Insureds with Large Deductibles/Retained Risk, Captive Reinsurers, Brokers, Agents, Managing General Agents, Vendors, Third-Party Administrators (TPAs), Network Partners, and Collateral-Issuing Providers.

The Director - Global Credit Management will broadly support the primary objectives of the Global Credit Management function, including but not limited to direct management of a portfolio of counterparty credit exposures as well as oversight of select staff portfolios of counterparty credit exposures.

Critical attributes to succeed include excellent communication and interpersonal skills, with the ability to work effectively both individually and within a team environment, strong critical thinking, organizational, and prioritization skills, attention to detail, ownership and accountability, track record for delivering desired outcomes within prescribed timeframes, willingness to learn and further development, continuous improvement mindset, and ability to thrive in a dynamic, fast-paced environment.

Scope:

• Assess Counterparty Credit Quality

  • Lead and perform due diligence and financial assessment of counterparty credit quality for both existing programs and prospective new business opportunities, which includes an in-depth analysis of financial statements and associated MD&A, forecasts, business model and strategy, industry, and macroeconomic factors, as well as other publicly available information and/or information from direct Q&A with qualified counterparty sources.

  • Set standards for credit assessment processes and mentor Analysts in evaluation techniques.

• Consult on Program Structure / Collateral Requirements and Collateral Form

  • Collaborate with Underwriting, Actuarial, Legal, and other internal stakeholders as necessary on the appropriateness of the program design, and to ensure the collateral determination and adequacy adheres to guidelines and delegated authorities.

  • Engage with Legal to incorporate required credit-related language into program agreements and contracts.

  • Review and approve collateral form & amount, collateral language, and collateral-issuing counterparty for acceptability and compliance with corporate standards and regulatory requirements, specifically as pertains to Letters of Credit, Trusts/Pledge Agreements, Surety Bonds, and Cash/Escrow deposits. 

  • Provide strategic guidance on collateral policy and process improvements.

• Manage Counterparty Credit Risk / Minimize Credit Losses / Promulgate Guidelines & Best Practices / Project & Initiatives 

  • Interface with various stakeholders on credit-related matters and cross-functional deliverables.

  • Ensure receipt, care, custody, and control of incoming collateral instruments and associated documentation.

  • Assist with Bankruptcy & Insolvency management providing leadership in complex cases.

  • Provide status reports and maintain internal control reports on credit-related items including outstanding collateral and associated documentation ensuring accuracy and compliance.

  • Support Departmental Training & Development and continuous improvement initiatives.

  • Manage and develop junior staff.

  • Oversee Special Projects or Ad-Hoc assignments.