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Capital Markets Credit Risk Supervising Examiner

Federal Reserve Bank of Minneapolis

Federal Reserve Bank of Minneapolis

New York, NY, USA
Posted on Friday, May 10, 2024

Company

Federal Reserve Bank of New YorkWorking 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 through 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 Regional and Community Financial Institution (RCFI) function is responsible for monitoring and assessing the safety and soundness of state member banks and domestic bank holding companies under $100 billion in the Second District. This includes state member banks and bank holding companies headquartered in Puerto Rico.

Your role as a Capital Markets Credit Risk Supervising Examiner:

As a Credit Risk Supervising Examiner, the candidate will assist in the development of supervisory and examination strategies and oversee or assist in the execution of those strategies for institutions in the RCFI portfolio. The major responsibilities include:

  • Leading or participating in examinations/inspections to determine the quality of a firm’s assets and the effectiveness of a firm’s credit risk management program and validate remediation efforts of identified issues.

  • Identifying strategies, risk and exposure levels at financial institutions to assess risk management practices and the adequacy of risk management systems.

  • Developing and recommending supervisory actions that are commensurate with risk levels and are based on sound and supportable conclusions.

  • Prepare informative, well supported supervisory products and work papers, effectively communicating supervisory findings, including required actions to senior management and board of directors.

  • Develop and maintain strong ongoing relationships with relevant stakeholders (e.g., other Risk Department staff, CPC Team members, Board analysts, other regulator(s), banking analysts, policy analysts, and the supervised firm itself).

  • Analyzing current industry practices, conditions, and trends and identify inherent/emerging risks as financial products/markets evolve.

  • Synthesizing and analyzing complex financial and risk information and applying that knowledge to a broad range of financial issues.

  • Participate in Federal Reserve System and local credit initiatives related to training, committees and contribute to the development of policies to enhance the supervision of financial firms.

What we are looking for:

A successful candidate for this Credit Risk Specialist role is expected to have:

  • Advanced skills in credit risk (in the analysis and/or risk management of credit products), and the capacity to apply both specific and broad knowledge of principles, practices and procedures in regard to credit risk when completing assignments.

  • Superior organizational skills and self-management evidenced by an ability to show initiative and take ownership of assignments, produce results under tight time constraints, and operate effectively given rapidly evolving priorities.

  • Ability to mine existing information for cross-institutional themes and issues to provide insight regarding institutions, industry practices and emerging risks that is forward-looking and consistent with strategic concerns.

  • Excellent interpersonal skills and proven ability to collaborate and build consensus.

  • Excellent communication skills (both written and verbal), including ability to identify, prioritize, frame, and clearly articulate material issues that reflect supervisory positions/concerns.

  • Extensive prior commercial credit and/or Regulatory experience is required (Examiner Commissioning a plus).

Cover letters highlighting how your background aligns to the role are preferred.

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 BehaviorsCommunicate 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.

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

Yes

Job Category

Risk 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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