Global Systemic Banking Risk Specialist

Closing on: Apr 30, 2024
Job Types: Full Time
Job Locations: New York City

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 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 Large Institution Supervisory Coordinating Committee (LISCC) Supervision Program is the Federal Reserve’s national supervisory program for the largest and most systemically important financial institutions. The LISCC Dedicated Supervisory Team (DST) executes firm-specific examinations and monitoring in coordination with the national programs, maintains a broad-based understanding of the safety and soundness of their assigned firm, and recommends supervisory plans and ratings. Each DST partners with national programs (Capital, Governance and Controls, Liquidity, Resolution and Recovery Planning) to plan and execute on monitoring and assessments of their supervised firm.

 

Your role as Institutional Supervision Supervising Examiner:

  • Lead or participate in firm-specific reviews and baseline monitoring meetings in accordance with LISCC program requirements
  • Collaborate with other DST and Horizontal Examiner Teams to identify and develop supervisory responses to inherent and emerging risks
  • Develop and maintain productive relationships with key contacts at the firm to discuss, investigate, and understand various topics relevant to the LISCC Program
  • Contribute to the assessment of the firm’s annual assessment and ratings by:
    • Identifying the main ratings drivers of risk and performance, and the firm’s resilience to risk taking activities
    • Leveraging information gathered over the supervisory cycle from firm-specific examinations and/or horizontal reviews, and other monitoring activities
    • Drafting rating assessment language for the annual assessment letter based on the totality of related supervisory work conducted throughout the year
  • Collaborate with LISCC program pillars, including the Capital Program, the Monitoring and Analysis Program (“MAP”) and the Governance and Controls, by conducting monitoring across a range of performance and areas at the firm
    • Help implement a forward-looking risk identification framework that addresses emerging risks for the financial system and financial stability
    • Provide input to the governance and controls rating based on the financial risk management and control assessments conducted under the Capital Program

 

What we are looking for:

  • Ability to take on a leading role on examinations at large complex financial institutions and/or an ability and willingness to learn about complex regulations, including supervisory expectations and findings.
  • Supervisory or industry experience in investment banking and/or global markets trading businesses including experience of financial and non-financial risk management involving institutional clients.
  • Supervisory or industry experience with financial and non-financial risks, such as operational risk, model risk, compliance risk, internal audit, IT/Cyber.
  • Working knowledge relevant supervisory standards pertaining to financial risks and non-financial risk management practices at large financial institutions
  • Excellent project management, communication, interpersonal, and collaboration skills

 

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 Accounts and HSA)
  • Subsidized Public Transportation Program
  • Tuition Assistance Program
  • Onsite Fitness & Wellness Center
  • And more

 

The New York Fed expects its employees to perform their duties with honesty, integrity, and impartiality, and without improper preferential treatment of any person. Learn more about our code of conduct and conflicts of interest rules.

 

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, pregnancy, or military service.

 

We value accessibility for all candidates and are happy to provide an accommodation or assistance. Please email us at ny.leaves@ny.frb.org and we’ll be glad to help. Please note, this is a dedicated e-mail box designed exclusively to assist applications with accommodation requests in relation to our recruiting process. All other inquires including the status of applications will not receive a response from this e-mail box. 

 

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.

This position requires access to confidential supervisory information (CSI) and/or Federal Open Market Committee (FOMC) information. Access to CSI and FOMC information is limited to U.S. citizens, lawful permanent residents, individuals who meet the definition of “protected individual” under 8 U.S.C. § 1324b(a)(3), and certain other nonimmigrants. All non-U.S. citizens authorized to access CSI and/or FOMC information must sign a declaration of intent to expeditiously become a lawful permanent resident and thereafter a U.S. citizen when eligible. 

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

Yes

Job Category

Supervisory/Management

Work Shift

First (United States of America)

 

The Federal Reserve Banks believe that diversity and inclusion among our employees is critical to our success as an organization, and we seek to recruit, develop and retain the most talented people from a diverse candidate pool. The Federal Reserve Banks are committed to equal employment opportunity for employees and job applicants in compliance with applicable law and to an environment where employees are valued for their differences.

 

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