American Express Careers

Manager - Risk Management

Salt Lake City, Utah
Operations Risk Management

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Job Description

The department Commercial Rating and Underwriting (CRU) sits within the Credit and Fraud Risk (CFR) division and forms 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 and small business card programs, via merchant service relationships where non-delivery risk exists, and among the securities portfolio held for firm-wide liquidity. CRU is led from Salt Lake City with regional teams in New York, London, Singapore and Sydney. In addition to determining the internal credit rating which drives the probability of default of each exposure, CRU also calculates the loss given default of these obligors while underwriting card programs. As a bank holding company, American Express must comply with the highest global banking standards set by Basel and implemented by the bank’s primarily regulatory, the Federal Reserve.


Managers in CRU are responsible for risk rating and underwriting credit exposures in their assigned region, industry, and business line. Fundamental analysis incorporates a thorough review of business, financial, industry and country risk coupled with support from internal and external rating model outputs. Assessment includes understanding of the need for credit extension, profitability of the relationship and program structures. CRU managers interact with various constituents across the firm including front office sales, business unit risk partners, and credit administration to perform their critical role.


  • Minimum 5 years experience rating and / or underwriting at a leading financial institution  or rating agency 
  • Bachelor’s degree from a top tier university with high GPA require. Degree (or substantial coursework)  in finance, accounting, economics, or statistics preferred
  • Graduate degree with a finance or business emphasis, or Chartered  Financial Analyst (CFA) designation, is a plus
  • Expertise as a credit and underwriting decision maker dealing with commercial exposures ranging from  small business or middle-market to large, multinational institutions 
  • Thorough understanding of fundamental financial  analysis including the ability to review corporate financial statements to determine the ability of the obligor to honor its  credit obligations
  • Comfort with GAAP/IFRS accounting standards, corporate valuation, and forecasting 
  • Knowledge  of how probability of default and loss given default determine economic capital
  • Experience in determining appropriate  credit capacity, structuring of facilities, and risk mitigation techniques
  • Familiarity with quantitative credit models (such  as Moody’s RiskCalc, CreditEdge, etc) and knowledge of how to interpret the outputs, and when deviation from the  model has appropriate defense 
  • Comfort with public agency ratings and supporting analysis
  • Understanding of current  macroeconomic trends and how to provide recommendations to improve the PD estimation based on the business  cycle 
  • Experience preparing company-specific and industry-wide credit memorandums 
  • Excellent judgment in making  sound rating and underwriting decisions to maximize profitability and mitigate risk
  • Familiarity with banking regulations,  particularly those imposed by Basel Committee on Banking Supervision
  • Familiarity with global markets (foreign  language ability a plus) 
  • Specific industry expertise in travel (airlines, cruiselines, hospitality), financial institutions, or  public finance 
Employment eligibility to work with American Express in the U.S. is required as the company will not pursue visa sponsorship for these positions.

ReqID: 18010162
Schedule (Full-Time/Part-Time): Full-time
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