Federal Reserve Bank Cross Portfolio Senior Examiner in New York City, New York
Working at the Federal Reserve Bank of New York positions you at the center of the financial world with a unique perspective on national and international markets and economies.You willwork in an environment with a diverse group of experienced professionals to foster and support the safety, soundness, and vitality of our economic and financial systems. It is a challenge that demands the skills of a financial service professional and the intelligence of an academic—all combined with a passion for public service.
What we do: *
*The Wholesale Credit Risk team is part of Supervision Group's LISCC Capital Department, a key contribution from the Federal Reserve Bank of New York to the national LISCC Capital Program.
The LISCC Capital Program is a system-wide year-round supervisory program assessing the capital planning and positions for firms subject to category I standards. Capital's Wholesale Credit Risk team is responsible for supervisory work, including CCAR and monitoring and analytic activity, covering a range of business activities for LISCC firms. In addition, the team is responsible for executing and supporting supervisory work for some firms subject to category 2 and 3 standards. This includes horizontal capital reviews (HCR), target exams, and monitoring and analytic activity related to wholesale credit risk.
Although subject to tailored expectations, supervisory activities across category 1,2 and 3 firms include an analysis and assessment of fundamental credit analysis and qualitative and quantitative analysis used to derive probability of default (PD), loss given default (LGD) and exposure at default (EAD) estimates. The team examines whether a firm employs estimation approaches and controls that allow it to estimate changes in expected losses (EL) that could result from the firm's risks, exposures, and activities under stressful scenarios.
In addition to supervisory examinations, the team's year-round analytic and monitoring efforts include focused firm engagement and periodic analytic publications. This area of work is focused on monitoring how firm performance, strategy, products, and risk taking are evolving, with the goal of directing and informing future supervisory activity.
Supervisory planning and governance for the category 1 firms is managed by the LISCC Capital Program Steering Committee (LISCC SC). Supervisory planning and governance for category 2 and 3 firms is managed by the Large and Foreign Banking Organization Management Group (LBOMG). Collaboration on select horizontal programs that cover category 1, 2 and 3 firms is achieved through combined governance by LISCC and LFBO leadership.
Your role as Cross Portfolio Senior Examiner:
- Be the primary contact for coordinating firm specific and horizontal wholesale credit risk examination work and monitoring activities performed by the LISCC Capital Program, with the LFBOMG, at category 2 and 3 firms supervised by the FRBNY
- Coordinate examination and monitoring activities with colleagues across the LISCC and LFBO programs assigned to supervisory activities at category 2 and 3 firms supervised by the FRBNY
- Ensure that supervisory planning activities for category 2 and 3 firms supervised by the FRBNY incorporate the views of both the LISCC SC and LFBOMG.
- Have deep knowledge of the policy and procedure differences across the portfolios and activities, including governance, and ensure appropriate adherence for each event.
- Participate in supervisory examinations and reviews related to credit risk management and stress testing.
- Evaluate credit quality of large commercial loan transactions, including participation in Shared National Credit examinations, to better understand and assess the quality of wholesale credit risk management.
- Analyze and participate in discussions related to capital adequacy relative to inherent wholesale credit risk based on expected, as well as, stressed macroeconomic and market conditions.
- Analyze internal reports, facilitate discussions with institution management, review industry information, and research risk topics affecting the financial services industry.
What we are looking for:
- A Bachelor's Degree in finance, business administration, economic, or a related field. Master's degree not required, but preferred.
- Minimum of five years relevant work experience related to banking and wholesale credit risk management.
- Knowledge of the LISCC Capital Program and LFBO portfolio a plus
- Commissioned Bank Examiner a plus
- Commitment to highest ethical standards and excellence in public service
- Position requires approximately 50% travel.
Our organization offers benefits that are the best fit for you at every stage of your career:
- Fully paid Pension plan and 401k with Generous Match
- Comprehensive Insurance Plans (Medical, Dental and Vision including Flexible Spending Accounts and HSA)
- Subsidized Public Transportation Program
- Tuition Assistance Program
- Onsite Fitness & Wellness Center
- Flexible Work Arrangements
Please note that the position requires access to confidential supervisory information and/or FOMC information, which is limited to "Protected Individuals" as defined in the U.S. federal immigration law. Protected Individuals include, but are not limited to, U.S. citizens, U.S. nationals, and U.S. permanent residents who either are not yet eligible to apply for naturalization or who have applied for naturalization within the requisite timeframe. Candidates who are permanent residents may be eligible for the information access required for this position if they sign a declaration of intent to become a U.S. citizen and pursue a path to citizenship and meet other eligibility requirements.
/In addition, all candidates must undergo an enhanced background check, comply with all applicable information handling rules, and will be tested for all controlled substances prohibited by federal law, to include marijuana./
/The Federal Reserve Bank of New York is committed to a diverse workforce and to providing equal employment opportunity to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, or military service./
This is not necessarily an exhaustive list of all responsibilities, duties, performance standards or requirements, efforts, skills or working conditions associated with the job. While this is intended to be an accurate reflection of the current job, management reserves the right to revise the job or to require that other or different tasks be performed when circumstances change.
Organization: *Federal Reserve Bank of New York
Title: Cross Portfolio Senior Examiner
Location: NY-New York City
Requisition ID: 268284