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Counterparty Credit Risk Oversight Specialist - Risk Group

Company: Federal Reserve Bank of New York
Location: New York
Posted on: July 13, 2018

Job Description:

Primary Location: NY-New York CityFull-time / Part-time: Full-timeEmployee Status: RegularOvertime Status: ExemptJob Type: ExperiencedTravel: NoShift: Day JobJob SummaryThe Counterparty Credit Risk Oversight Team (CCRO) of the Financial Risk Oversight Function is responsible for independent assessment and oversight of the Bank's counterparty credit risk and the first-line of defense's management of counterparty credit risk. Counterparty credit exposures arise from Discount Window lending, intraday extensions of credit, use of the Bank's payment services, open market trading activities, other extensions of credit, and certain financial transactions with vendors and lessees. -- Principal Duties and Responsibilities Participate in the development, maintenance, and advancement of the second-line approach to counterparty credit risk oversight Develop and propose updates and improvements to relevant frameworks, policies, and procedures Provide expertise and guidance to enhance the first-line's approach to counterparty credit risk management Provide expertise and guidance on first-line credit analyses of depository institutions eligible to use FRBNY services, broker-dealers, insurance companies, money market funds, and other FRBNY counterparties Provide expertise and guidance on sound practices for counterparty credit risk management Provide independent assessments of counterparty credit risk Provide input into daylight credit decisions, risk ratings of account holders, and financial condition assessments of individual account holders and an independent view as needed Identify and communicate counterparty risk issues that may warrant heightened monitoring or risk controls Provide Bank-wide, and, as needed, program-level independent assessments of counterparty credit risk In collaboration with business line, obtain intelligence from the Supervision Group on the financial condition of bank counterparties Provide a second-line credit risk management view in policy discussions at the Bank and the FRS (e.g., structures of new credit facilities, approaches to condition monitoring, counterparty policies, etc. Provide oversight of first-line approaches to and assessments of counterparty credit risk Monitor consistency of credit assessments across depository institution portfolios Review and provide feedback on first-line credit analysis methods (financial metrics and ratios) and models Review and provide feedback on the effectiveness and suitability of first-line risk mitigation strategies in accordance with Bank and System policies Review and provide feedback on business line efforts to monitor financial condition of FRBNY account holders, and maintenance of risk ratings of account holders Assist with determination and implementation of risk mitigation approaches for higher risk counterparties in collaboration with the Supervision Group, business teams, and other key stakeholders Oversee first-line management of institutions in deteriorating or failing condition, liaising with Legal, Supervision, Discount Window, Financial Services, other Reserve Banks, and other regulators, as appropriate Effectively engage to resolve disagreements with the first-line when disagreements and escalate appropriately when issues cannot be resolved Education--Master's degree, preferably in business, finance or economics, or equivalent work experience;--CFA or equivalent certification preferred--Generally six to eight years of relevant experience in credit analysis specializing in the financial industry, or credit risk management in the banking and securities sectors--Expertise in counterparty credit analysis --Knowledge of Federal Reserve System counterparty credit risk policies, procedures, and activities--Strong analytical and problem solving skills; attention to detail--Proficiency in MS Office--Strong communication, collaboration, and interpersonal skills. Able to work well in a team environment.--Strong project management skills. Able to adapt to changing priorities and work effectively under pressure. 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 position requires access to confidential supervisory 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, U.S. permanent residents who are not yet eligible to apply for naturalization and U.S. permanent residents who have applied for naturalization within six months of being eligible to do so.

Keywords: Federal Reserve Bank of New York, New York, Counterparty Credit Risk Oversight Specialist - Risk Group, Other, New York, New York

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