Payments Risk Supervising Examiner

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, including consumer protection

• 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 on-site and off-site examinations involving staff dedicated to the supervision of an individual firm and other professionals focused on analytical, policy and risk matters. Supervision is coordinated with other US agencies.

The Financial Market Infrastructure Function (FMIF) in the Supervision Group supervises systemically important financial market utilities and firms providing technology services to banks, as well as leading complex, multi-year cross-portfolio projects related to market infrastructure reform and resilience.

Your role as a Payments Risk Institutional Supervision Supervising Examiner:

You will conduct liquidity and operations examinations for a systemically important payment system under our supervisory authority.  Given the complexity and systemic importance of the institutions we supervise in FMIF, this position entails close attention to firm-wide governance, risk management practices and controls.   Responsibilities include assessing liquidity, settlement and operational risk management policies and practices, wholesale payment product developments, and compliance with applicable banking laws, regulations, and policy statements such as Regulation HH. The role will entail building inclusive collaborative relationships with different supervisory teams on examinations of governance, liquidity risk, model risk and operational resiliency.

Core responsibilities include:

• Lead liquidity and operational risk examinations and contribute to cross-firm analytical projects.

• Prepare well-supported supervisory products on changes to business offerings, liquidity risks, operational risks, model risks, and broader systemic risk implications.

• Contribute to annual assessments and develop supervisory plans for risk-based supervision factoring in the size and complexity of activities and materiality of supervisory findings.

• Join meetings as a lead and/or participant with select C-Suite staff and prepare appropriate agendas and meeting notes based on an analysis of internal documents and discussions.    

• Monitor settlement activities and perform data analysis and reporting on payment data trends.

• Develop and maintain ongoing relationships with supervisory personnel across the FRS and other regulatory agencies and senior management at supervised entities to ensure strong lines of communication exist to convey supervisory expectations.

• Maintain knowledge of the latest technologies, payment trends and risk management practices and its effects on financial market utilities and technology service providers.

What we are looking for:

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

• Knowledge of risk management practices such as liquidity stress testing, model risk governance, operational incident management, risk control self-assessments, payments processing, and data analytics.    

• Familiarity with large-value payments systems and payments market infrastructure.

• Strong written and verbal communication skills, including the ability to adapt communication to a range of audiences with different needs and expertise.

• Excellent project management and time management skills, including managing multiple projects with limited oversight while adapting to chan