Counterparty Credit Risk Specialist

Company

Federal Reserve Bank of 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 will work 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.

The Bank believes in work flexibility to balance the demands of work and life while also connecting and collaborating with our colleagues in person. Employees can expect to be in the office a couple of days per week as needed for meetings and team collaboration and should live within a commutable distance.

What We Do:

The Supervision Group of the Federal Reserve Bank of New York (FRBNY) supervises banks in the Second District.  The objectives of supervision are to:

• Evaluate and promote the overall safety and soundness of supervised institutions

• Ensure supervised institutions’ compliance with relevant laws and regulations

• Facilitate the stability of the financial system of the United States

• Support the growth and stability of the U.S. economy.

Supervision is carried out through a combination of methods, including through on-site and off-site examinations involving staff dedicated to the supervision of individual firms, and through other professionals focused on analytical, policy and risk matters. Supervision is coordinated with other US agencies.

The Large and Foreign Banking Organization (LFBO) Function is responsible for monitoring and assessing the safety and soundness of all domestic two large domestic and all foreign-owned firms in the Second District.  

Your role as a Capital Markets (Counterparty Credit) Risk Supervising Examiner:

You will work in a dynamic, team environment and play an important role in helping the Federal Reserve carry out its supervisory responsibilities. As a Capital Markets Risk Supervising Examiner, you will serve as the counterparty credit risk expert responsible for evaluating the risk management and control frameworks of complex financial institutions’ derivatives and securities financing transactions portfolio with respect to counterparty credit risk. This entails leading and/or contributing to firm-specific and horizontal supervisory reviews in the areas of financial condition, independent risk management, internal controls, governance, strategy, and business line management.

Core responsibilities include:

• Leading or participating in firm specific and horizontal examinations; documenting well-supported supervisory assessments in a manner that is consistent with the supervisory operating procedures.

• Presenting examination results to supervised institutions, Federal Reserve management, staff, and other supervisory authorities.

• Driving and executing continuous monitoring including meetings with management, and review and analysis of internal risk reports, business plans, committee meeting minutes, and other materials for the assigned institution(s).

What we are looking for:

• Extensive experience in counterparty credit risk management and working knowledge of rules and regulations relating to counterparty credit risk management.

• Strong analytical and critical thinking skills, demonstrated by the ability to assimilate information, understand new and complex topics. 

• Commissioned examiner and/or Examiner-in-Charge (EIC) experience preferred; candidate must be willing to enroll in examiner commissioning training upon acceptance of the position.

Salary Range: $192300 - $229300 / year

We believe in transparency at the NY Fed. This salary range reflects a variety of skills and experiences candidates may bring to the job. We pay individuals along this range based on their unique backgrounds. Whether you’re stretching into the job or are a more seasoned candidate, we aim to pay competitively for your contributions. 

Our Touchstone Behaviors - Communicate Authentically, Collaborate Inclusively, Drive Progress, Develop Others, and Take Ownership—help shape the culture of the Bank. They also provide a shared language for how we work together and achieve success, and they set clear expectations for leading with impact at every stage of your career with us. Learn more.

Benefits: 

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