Posted in Finance 25 days ago.
Type: Full-Time
Location: New York, 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 Large and Foreign Banking Organization (LFBO) function is responsible for monitoring and assessing the safety and soundness of three large domestic firms and all foreign-owned firms with U.S. operations (FBOs) in the Second District.
Your role as an LFBO DST Institutional Supervision Supervising Examiner:
This role is on the Dedicated Supervisory Team (DST) of a large foreign bank, with a focus on financial risk management, specifically credit risk and counterparty credit risk. As a Supervising Examiner focused on the firm’s financial risk profile, you will assist in executing the assigned elements of the DST’s supervisory plan by participating in and leading examinations and conducting ongoing assessments of the firm; communicating supervisory messages; and developing supervisory assessments. You will contribute to financial risk assessments, and on an ad-hoc basis, may contribute to related coverage areas in governance and controls. You will also partner and work closely with specialists in various risk disciplines and other DST members across the Federal Reserve System (FRS) in a highly collaborative environment.
Core responsibilities include:
Leading or participating in firm specific and horizontal examinations and monitoring activities that may include, but are not limited to, financial risk management and controls, such as credit risk and counterparty credit risk management.
Developing well-supported supervisory assessments and presenting examination results to supervised institutions, Federal Reserve colleagues, and other supervisory authorities.
Driving continuous monitoring including meetings with management, review and analysis of internal reporting, board of director materials and meeting minutes, and related materials for the supervised institution.
Building and maintaining relationships with other supervisory teams and risk specialists and proactively collaborating with supervisory colleagues within the FRS and other relevant agencies to arrive at a shared understanding of the firm’s material issues, emerging risks, and remediation progress. Actively providing guidance, mentoring, coaching, and training to other employees when leading examinations or projects, and managing major/complex projects, including delegation of work and review of work products.
Advancing a high standard of operational excellence in executing the supervisory program and associated operational processes.
What we are looking for:
Regulatory or industry experience at large complex financial institutions and/or an ability and willingness to learn about complex regulations, including supervisory expectations and findings.
Expertise in (at least) one area of financial risk management and controls including wholesale credit risk and counterparty credit risk management.
Ability to undertake supervisory activities under limited guidance, prioritize and multi-task, manage and interpret data and quickly assimilate new information, and produce sound analysis.
Limited travel may be required for examinations, training, and meetings.
Salary Range: $ $155400 - $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
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 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.
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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