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JobDescription : The Role: S&P Global Ratings' credit ratings Criteria contain all our key analytical principles, assumptions and methodologies. They provide the framework for all of our published credit ratings and analyses and, as such, represent our most significant intellectual property. The Associate Director, Criteria Validation will be a member of a team of analytical experts that enhance the management of Criteria-related risks by:
Validating that proposed new or revised Criteria effectively differentiate creditworthiness, and produce credit ratings which are consistent with S&P Global Ratings' Definitions and Principles of Ratings;
Conducting or coordinating various statistical and quantitative analyses in the evaluation of Criteria, Criteria Exceptions, and Ratings to Principles (using R or Matlab for example), including back-testing and benchmarking with historical data and stress testing to verify the soundness of the assumptions and overall calibration.
Using the analyses above to form and defend validation conclusions;
Producing Criteria validation reports and presenting validation conclusions to working groups and relevant approving bodies;
Performing the periodic review of existing Criteria by analyzing historical rating performance metrics and other information that inform the fitness for purpose of existing Criteria based on discriminatory power, predictive power and historical robustness;
Producing validation reports for the periodic Criteria review;
Reviewing proposed non-material changes and Guidance Documents; and
Contributing to the continuing research and development of new tools for the statistical and quantitative analyses used for Criteria validation, and to the wider continuing development of the team and Criteria validation function.
The Impact: The Criteria Validation team provides high value added analysis by reviewing the work of Criteria developers and ensures that proposed new or revised Criteria are appropriate and effective. Through its participation in the periodic reviews of existing Criteria the team validates that Criteria continue to be fit for purpose.
High proficiency in fundamentals of credit analysis and related qualitative and quantitative reasoning.
Adept at managing competing priorities.
Ability to communicate complex results to an audience which will include senior managers from the Analytical, Methodologies and Compliance & Control groups.
Ability to work independently to tight deadlines.
5+ years of experience in fundamental credit analysis; experience in Criteria development and Criteria validation is preferred, but not required.
Degree or advanced degree in Economics, Finance or a related discipline.
Quantitative skills in the areas of structured finance, credit derivatives, default and recovery Criteria and credit risk management or Criteria would be an advantage, but not required.
Process-oriented and highly organized with the ability to work independently.
Strong oral and written communication and interpersonal skills.
The Career Opportunity: "Criteria Validation is a group that has global responsibilities for our entire ratings business. As a result, the successful candidate will experience working with a wide variety of people across multiple analytical disciplines, from sovereigns to asset-backed securities. You will be challenged by, and have an opportunity to further develop, your well-established analytical skills, through your interactions with top experts. The experience gained could lead to multiple career progression opportunities, from fundamental analysis to other areas of risk management. Successful existing S&P Global Ratings analytical staff moving into this role, with the full support of Ratings Leadership, will be well-positioned to take advantage of such opportunities following a successful experience with Criteria Validation."
Internal Number: 6185111
About S&P Global
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