Company
Federal 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 Federal Reserve Bank of New York (FRBNY) is exposed to credit risk through its provision of financial services to second district depository institutions and through the carrying out of market operations at the direction of the Federal Open Market Committee (FOMC), as fiscal agent of the United States and for various official accountholders. More specifically, credit risk exposures arise from Discount Window lending, intraday extension of credit through counterparties use of FRBNY payment systems and services, open market trading activities, Federal Reserve lending facilities and liquidity programs, and other types of activities. Some of the trading activities include outright securities transactions, securities repurchase (repo) agreements and reverse repo agreements, foreign exchange transactions, foreign exchange swaps, and other credit transactions.
The Collateral Credit Analysis (CCA) staff within the Markets Group is responsible for ensuring robust and well-rounded credit risk management across pledged collateral types, ensuring active involvement in the identification, escalation and resolution of financial risk posed by pledged collateral to the Bank. The CCA staff performs on-going risk rating analysis and surveillance of loan collateral types as well as asset level credit risk analysis of loan and securities pledged by depository institutions to the Federal Reserve Bank of New York Discount Window (DW).
Your role as Financial Modeling & Quantitative Analytics Associate (Credit Risk):
Conduct risk-based portfolio reviews of large collateral pledges of fixed income securities and loans, collaborate with senior analysts in performance of fundamental collateral analysis, and analyze collateral trends
Recommend appropriate risk ratings of loan collateral pledged by evaluating the internal risk ratings of Depository Institutions and ensuring those ratings are mapped in accordance with the Federal Reserve System Eligibility Requirements
Perform independent asset class analysis of fixed-income Structured Products in accordance with asset specific methodologies. Monitor financial markets for the occurrence of events related to the Banks collateral exposures and prepare timely reports. Maintain asset specific methodologies and expand (if necessary) based on System-wide guidance
Participate and contribute to CCAs short and long term strategy by assisting in the maintenance and developing of analytical tools
Communicate with Management about collateral eligibility matters in a manner that highlights important business considerations. Surface concerns for discussion and enhance knowledge of collateral risk characteristics that support collateral eligibility and valuation decisions for FRBNY
What we are looking for:
Excellent track record and expertise in credit analysis and risk monitoring, specializing in the banking and financial services industry.
Experience in several of the following areas:
Credit risk measurement and scenario analysis
Risk reporting
Capital markets and collateralized lending
Knowledge of structured products, capital markets, credit ratings and credit analysis
Strong analytical and quantitative skills demonstrated by the ability to assimilate new information, understand complex topics, and arrive at sound analysis and judgement.
Solid communication, interpersonal and influencing skills. Able to work in a team environment.
Ability to manage projects independently and with limited oversight.
Demonstrated proficiency with building trust and developing strong collaborative and inclusive relationships through candor, reliability, and authenticity as a colleague.
Ability to effectively represent the business area and the Bank, as appropriate, with external counterparts on issues related to credit risk management.
Proven adeptness communicating authentically and effectively up, down, and across the organization both verbally and in writing.
Touchstone Behaviors set clear expectations for leading with impact at every stage of our careers and aspire to achieve in our continued growth and development.
Communicate Authentically: Empathetically engage one another with direct and transparent dialogue and listening. Actively discuss viewpoints with respect and compassion in a timely and candid manner, taking into account verbal and nonverbal cues. Ask questions, learn from each other, and share information widely to move the Bank's work forward.
Collaborate Inclusively: Inspire a diverse and inclusive environment that empowers others to contribute meaningfully. Intentionally bring a diverse set of people together to achieve positive business results.
Drive Progress: Grow and adapt to changing priorities in the Bank. Experiment with new concepts and take appropriate risk to drive innovation. Remain curious and action oriented, navigating through ambiguity and uncertainty to drive outcomes.
Develop Others: Equitably champion, mentor, and develop others to grow professionally. Demonstrate vulnerability and empathy to create a trusted environment.
Take Ownership: Establish an environment of action and excellence by holding self and others accountable to execute to the highest standard.
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
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.
The successful candidate must be fully vaccinated against COVID-19, and receive a booster shot within 30 days of being eligible to do so, unless the Bank grants an exemption based on a medical condition or sincerely held religious belief.
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.
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
Analytical
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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