Specialized Risk Management Associate

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 New York Fed, on behalf of the Federal Reserve System, offers correspondent banking and custody services to foreign central banks and international monetary authorities (FIMA) and the System Open Market Account (SOMA) to facilitate their official financial operations, as well as support financial stability operations in the U.S. and abroad. The Central Bank and International Account Services (CBIAS) area of the New York Fed's Markets Group serves the U.S. dollar reserve management needs of its official customers by offering payments, custodial, clearing and settlement, collateral management, and investment and liquidity services. CBIAS has a long history of providing safe and efficient banking services to its customer base by managing over $7 trillion for FIMA customers and SOMA with transaction volume presently exceeding $300 billion per day. CBIAS maintains two operating locations, in New York City and Richmond, Virginia.

The Specialized Risk Management (SRM) staff is one of three units in the Account Risk Management (ARM) Directorate within CBIAS. The ARM Directorate is responsible for account control and risk management activities. As part of the Bank's objectives, the Directorate is responsible for implementing several risk management initiatives focused on the provision of currency services and supporting the provision of payments services to Foreign and International Monetary Authority (FIMA) accountholders, particularly those in the highest risk jurisdictions. Within CBIAS, the SRM team manages the provision of currency services to FIMA accountholders and supports specialized risk management programs for wire payments for the highest risk account holders.

Your role as a Specialized Risk Management Associate

• Analyze and report on FIMA account, risk, and compliance matters; identify reserve management trends, exposures, and developments related to the provision of financial services to central banks.

• Prepare briefings and presentations for senior management and policymakers on international market developments

• Develop effective relationships with central bank accountholders, U.S. government agencies, market participants, and with other internal and external stakeholders to obtain relevant market intelligence and context for global financial market and political developments

• Coordinate discussions, forums, and seminars related to topics of common interest to the broader community of official sector service providers of banking and custody services including compliance, risk, FinTech, and other industry topics and developments

• Develop complex tables and charts in support of reporting and analysis to stakeholders; propose and develop new tools and analytic products

What we are looking for:

• Relevant financial services or international affairs experience

• Proficiency in Microsoft Excel, PowerPoint, and Tableau

• Programming skills (e.g., Python, R, SQL, VBA) desirable

• Subject matter interest in international economics/finance, policy and Anti-Money Laundering/Countering Financing of Terrorism/sanctions issues preferred

Salary Range:

NY: $125000-$175000 / year

Richmond, VA: $103800 - $145500 / 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.  

  

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