Financial Risk Specialist

1 month ago

New York, New York, United States Federal Reserve Bank (FRB) Full time
CompanyFederal 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 Risk Group's mission is to help the Bank achieve its goals while managing risks within the Bank's risk tolerance. The Financial Risk Oversight Function within the Risk Group provides an independent assessment of the Bank's aggregate financial risk exposure, as well as oversight of the first line's financial risk management and mitigation efforts.

Your role as a Financial Risk Specialist - Credit Risk Management:

As a member of the Financial Risk Oversight Function, you will report to the Financial Risk Director and execute the following activities:

  • Conduct independent review of credit risk assessments performed by the first line to ensure consistency and provide feedback on divergent risk assessments.
  • Conduct quantitative horizontal studies across portfolios of institutions and sectors. Share credit insights and risk trends with business and senior stakeholders.
  • Monitor the credit quality of counterparties and depository institutions within the 2nd district. Utilize analytical tools (such as Alteryx, Tableau and Excel) to prepare and analyze data (including calculation of financial metrics and ratios) on a quarterly basis.
  • Communicate risk issues that may warrant heightened monitoring of counterparties or implementation of risk controls.
  • Prepare written independent credit assessments of selected vendors and other third-party providers of goods and service to FRBNY.
  • Provide a second-line credit risk management view in policy discussions at the Bank and the FRS (e.g., structures of our credit facilities and programs, approaches to condition monitoring, counterparty policies.)
  • Maintain and enhance internal credit risk analytical tools.
  • Maintain open, timely communication and effective engagement with the business, control partners, senior management, and stakeholders.
  • Contribute and lead across other streams of work, sharing knowledge of best practices in financial risk management.

What we are looking for:

  • A seasoned credit professional with relevant credit risk management experience covering banks and the securities sector.
  • Sound understanding of financial markets, financial institution business models, financial products and services.
  • Expertise in developing, refining, and critiquing credit methodologies and analytical tools for evaluating financial institutions.
  • Strong analytical and problem-solving skills to evaluate risk and identify trends from financial data.
  • Excellent project management, collaboration, communication and interpersonal skills.
  • Demonstrated experience with quantitative software and tools (e.g. Python, R, Alteryx, Tableau, SQL) used for data analysis and visualization is desirable.

Salary Range: $ / 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

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.

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 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.

Be aware of potentially fake online job postings that claim to be from the Federal Reserve. Always verify and apply to jobs on the Federal Reserve System Careers webpage.

Full Time / Part TimeFull timeRegular / TemporaryRegularJob Exempt (Yes / No)YesJob CategoryRisk ManagementWork ShiftFirst (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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