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At American Express, our culture is built on a 175-year history of innovation, shared values and Leadership Behaviors, and an unwavering commitment to back our customers, communities, and colleagues. As part of Team Amex, you'll experience this powerful backing with comprehensive support for your holistic well‑being and many opportunities to learn new skills, develop as a leader, and grow your career.
Overview of The Department
Commercial Rating and Underwriting (CRU) sits within the Risk and Information Management 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 primary regulatory bodies, including the Federal Reserve.
Job Responsibilities
Managers in CRU are responsible for 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.
Desired Skills
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
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 bank‑based underwriting
Familiarity with integral markets
Bilingual in Spanish and English language
Specific industry expertise in travel (airlines, cruise lines, hospitality), financial institutions, or public finance
Minimum Qualifications
4–6 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 and a degree (or substantial coursework) in finance, accounting, economics, or statistics
Graduate degree with a finance or business emphasis, or Chartered Financial Analyst (CFA) designation, is a plus
Benefits
Competitive base salaries
Bonus incentives
Support for financial‑well‑being and retirement
Comprehensive medical, dental, vision, life insurance, and disability benefits (depending on location)
Flexible working model with hybrid, onsite or virtual arrangements depending on role and business need
Generous paid parental leave policies (depending on your location)
Free access to global on‑site wellness centers staffed with nurses and doctors (depending on location)
Free and confidential counseling support through our Healthy Minds program
Career development and training opportunities
Seniority level
Mid‑Senior level
Employment type
Full‑time
Job function
Other
Offer of employment with American Express is conditioned upon the successful completion of a background verification check, subject to applicable laws and regulations.
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