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. It is a challenge that demands the skills of a financial service professional and the intelligence of an academic-all combined with a passion for public service.

What we do:
The Markets Group at the FRBNY implements monetary policy on behalf of the Federal Reserve System (FRS) and acts as the lender of last resort to depository institutions in the New York district, among other responsibilities. The Discount Window directorate provides temporary funding, as needed, to depository institutions under the terms of the Primary, Secondary, or Seasonal Credit Facilities and manages depository institution's use of intraday credit under the Federal Reserve's Payment System Risk (PSR) Policy. The Discount Window also helps ensure the stability of the financial system more generally by supplying liquidity during times of systemic stress. The directorate is comprised of the Collateral & Lending Operations (CLO) staff and the Collateral & Lending Policy (CLP) staff.

Your role as Discount Window Operations & Risk Specialist:
As a member of the CLP staff, you will provide leadership coordinating activities related to special operations, the PSR Policy, and risk management. In this capacity, you will directly support the responsibilities owned by the directorate's two staff coordinators and facilitate enhanced collaboration across the directorate. In the short-term, you will contribute to Paycheck Protection Program Liquidity Facility (PPPLF) operations and other crisis facility wind-down activities. Responsibilities include:

• Coordinate post-pandemic facility work, including wind-down activities, reporting demands, and ongoing operational readiness;
• Evaluate the status of preparations for emergency lending and other contingency operations, identify improvement opportunities, and develop a strategy for maintaining ongoing readiness;
• Provide oversight and coordination of PSR activities across the directorate, ensuring collaboration and adherence to policies and procedures;
• Engage on operational and risk management issues related to payment system modernization efforts;
• Lead engagements and briefings with senior stakeholders in the Markets Group, other Reserve Banks, and the Board related to Discount Window and PSR operations;
• Oversee operational risk management for the directorate, liaising with key stakeholders and coordinating engagements and the remediation of audit findings;
• Lead the development and maintenance of key risk management documents such as SOX narratives;
• Represent the Bank in interactions with depository institutions and other external entities;
• Mentor and help develop junior staff.

• Undergraduate degree in finance, economics, policy, or a related field, graduate degree preferred but not required;
• 8+ years of relevant work experience;
• Knowledge of the Federal Reserve's policy framework and tools, including its policies and practices around provisions of credit, is preferred but not required;
• Knowledge of the banking industry and financial system, including bank operations and liquidity management is a plus;
• Experience with risk management strategies and related controls, audit engagements, and contingency preparedness;
• Expertise in financial market infrastructures and payment systems is a plus.
• Familiarity with database tools such as Tableau.

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
• Flexible Work Arrangements
• And more

Please note that the position requires access to confidential supervisory information and/or FOMC information, which is limited to "Protected Individuals" as defined in the U.S. federal immigration law. Protected Individuals include, but are not limited to, U.S. citizens, U.S. nationals, and U.S. permanent residents who either are not yet eligible to apply for naturalization or who have applied for naturalization within the requisite timeframe. Candidates who are permanent residents may be eligible for the information access required for this position if they sign a declaration of intent to become a U.S. citizen and pursue a path to citizenship and meet other eligibility requirements.

In addition, all candidates must undergo an enhanced background check, comply with all applicable information handling rules, and will be tested for all controlled substances prohibited by federal law, to include marijuana.

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, or military service.

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.