Insurance Company Credit Risk Manager

Compensation Grade:

OUR VISION FOR DIVERSITY AND INCLUSION:

FHLBank Atlanta contributes to our members' success through a diverse, inclusive, and engaged culture that enables all individuals to work together to fulfill our purpose.

BASIC PURPOSE:

ESSENTIAL FUNCTIONS:

• Protects the Bank against the risk of default on outstanding advances by possessing a thorough knowledge of the insurance industry and the financial condition of Fourth District insurance company borrowers. Ensures proper protection and monitoring are in place for the Bank's insurance members.

• Manages the insurance credit analysis function for the Bank's insurance company members. Credit exposure may take the form of borrowings, letters of credit, interest rate swaps and participation in other programs offered by the Bank. Prepares work on insurance company members, reviews work completed by the insurance analyst, and manages the completion of the insurance company framework.

• Manages the ongoing analysis and monitoring of the Insurance Company segment and assists in performing in-depth financial analysis and credit reviews for insurance company members. Presents findings and recommendations to senior management and the Credit and Collateral Committee.

• Ensures that all approved extensions of credit comply with the Bank's credit and collateral policy.

• Performs the ongoing analysis and monitoring of the Insurance Company segment and performs in-depth financial analysis and credit reviews for insurance company members.

• Performs quarterly credit score reviews and annual financial analysis of the Bank's insurance company members. Recommends the establishment and/or changes to borrowing limits and terms, and ensures the limits and terms are effectively communicated to relationship managers and directly to members, as needed.

• Ensures that the Bank's insurance company framework is current and up-to-date and makes changes as necessary.

• Specific items to help manage and monitor in the Insurance Company segment include, but not limited to, the following:

  • Review IRIS ratios and lines of business mix for all insurance company members

  • Monitor changes in ownership

  • Review private equity and non-traditional ownership of the Bank's insurance company members and determine if these structures add additional risk

  • Evaluate if new insurance company applicants meet the definition of a traditional insurance company, and evaluate if existing insurance company members continue to meet the definition

  • Evaluate the financial condition of significant reinsurers for both the Bank's insurance company members and potential new applicants

  • Ensure new applicants as well as existing members meet established credit performance standards

• Assists in the review and approval of insurance company quarterly credit score recommendations and annual credit write-ups.

• Reviews and approves the insurance analysts' financial analyses and recommendations regarding the Bank's less creditworthy insurance company members, including recommendations regarding advance, letter of credit or other extension of credit requests.

• Responds to and assists insurance analysts with member inquiries regarding credit-related issues.

• Interacts frequently with other areas of the Bank regarding credit-related issues (i.e., Sales and Trading, Collateral Services, Shareholder Services, Treasury, Legal, Enterprise Risk Management, etc.) and participates in various meetings involving Credit Services (i.e., mergers and acquisitions, member failures, operational systems, various training and testing exercises, business continuity, credit risk updates, etc.).

• Develops and presents standard as well as ad hoc reports to the Credit and Collateral Committee.

KNOWLEDGE, SKILLS, ABILITIES:

Excellent working knowledge of the financial industry, particularly in analyzing credit risk and the financial condition of the insurance companies that are Federal Home Loan Bank members

Insurance industry expertise and knowledge of analyzing insurance companies required

Proficiency in Microsoft Word and Excel to develop financial spreadsheets and form templates

Exceptional written and oral communication, presentation, and problem-solving skills needed to convey targeted information to senior Bank and shareholder management

A Bachelor's degree in finance, accounting, or economics and ten (10) years of work experience, at a minimum, in analyzing the creditworthiness of insurance companies with rating, research or regulatory agencies, or the equivalent combination of education and experience is necessary.

Position may require overnight travel.

WORK LOCATION: Onsite with an opportunity to work remote partially. This position may not be filled in California, either in-person or remotely.

We are an equal opportunity employer committed to diversity, equity, and inclusion in the workplace.