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At the Federal Reserve Bank of New York, the work we do is consequential and challenging. Our environment encourages growth and diversity. Our employees flourish in a team-oriented atmosphere and are dedicated to the important mission of the New York Fed.
The LISCC supervision program is the Federal Reserve's national supervisory program for the nation's largest most systemic financial institutions. The program is overseen by the LISCC Operating Committee (OC) and is executed by hundreds of staff supplied by multiple Reserve Banks and the Board.
Trading Risk Team Members are responsible for monitoring and examining specific areas of market risk in the day-to-day execution of the LISCC Capital Program, a year-round supervisory program that assesses the capital adequacy, capital planning, and financial risks and controls of the largest bank holding companies on a forward-looking basis. The Capital Program is led by the Capital Steering Committee (SC) and Program Leadership Group (PLG) and is responsible for the execution of all capital-related supervisory activities for the LISCC supervision program.
The Capital Program is seeking a Trading Risk Team Member, who will report to a Trading Risk Deputy Team Lead, as an examiner responsible for ensuring that supervisory monitoring and examinations result in timely, credible, and well-supported assessments of firms' capital planning practices and financial risk management and controls within the team's area of responsibility. The Trading Risk Team Member will also collaborate with LISCC firms' dedicated supervisory teams (DST) and other LISCC programs to ensure that planned examination activities are reflected in supervisory plans for the year. Trading Risk Team Members are expected to have knowledge of trading practices at LISCC firms and experience leading or managing teams either on project work or on a more permanent basis.
Your role as a Trading and Market Risk Specialist:
Working with the Team Lead and Deputy Team Leads to execute a supervisory plan for trading risk reflective of the supervisory work required to evaluate firms' capital planning and financial risk management and internal controls;
Serving as a subject matter expert on the horizontal team, and participating in the development and execution of examination scope memorandums, assessment work programs, conclusion memorandums, and supervisory feedback letters;
Participating in the assessment of firms' remediation of supervisory issues and elevating issues to the Deputy Team Leads, where appropriate; delivering clear, written and oral supervisory messages to firm leadership in collaboration with other Capital Program participants and the DSTS; and
Monitoring and reporting on changes in inherent risk and risk management practices for a portfolio of LISCC firms, and developing knowledge and expertise of the trading practices for those firms.
Participating in data-driven and risk analytics supervisory projects that reach across the LISSC firms.
Qualifications: What we are looking for:
3-5 years of relevant work experience preferred.
Bachelor's degree required, advanced degree or equivalent (e.g., CFA charter) preferred.
Commissioned Examiner a plus.
Well-developed leadership, organizational, communication and collaboration skills.
Demonstrated familiarity with trading products (e.g. equities, rates, FX, commodities, securitized products) and experience with market risk management.
Comfort working with data sets, for example with Tableau, SQL, R, and/or Python. On-the-job training is an essential part of this role so an open mind is sufficient. Previous coding knowledge is not necessary.
Demonstrated ability to set priorities as well as execute in a timely manner priorities as set by/with more senior management.
Generally periodic, and at times frequent, travel including extended overnight stays may be necessary.
The following are the essential skills needed to perform this job:
Ability to proactively collect information, viewpoints and analyses from individuals of different expertise and backgrounds, and assimilating them to build consensus even when they are conflicting views which needs to be resolved.
Ability to assimilate information, analyze complex issues, and develop sound written conclusions/decisions and recommendations
Ability to recall and apply various policies and concepts and ensure compliance with banking laws and regulations.
Ability to balance multiple priorities and meet tight deadlines within a fast-paced and high stress environment.
Ability to work independently, cooperatively and courteously with peers across districts, in a matrix management, fostering the team effort; and provide assistance to co-workers as needed.
Analytical and problem solving skills, including the ability to conduct analysis, synthesize information, produce summaries and reports, and effectively convey findings to area management.
Strong oral and written communication skills, including ability to write memoranda and report comments that are concise, cohesive and persuasive.
Ability to lead comprehensive and effective meetings with firm management exploring and evaluating risk management practices.
Ability to accept changing roles, responsibilities, work processes, assignments, etc.
Ability and willingness to learn about banking industry issues and trends and seek opportunities to apply new material.
The ability to travel locally, domestically, for all day meetings and internationally as required. Domestic travel of up to 25% of time may be required.
The ability to carry portable personal computer, work papers, and personal effects weighing up to 15 pounds; the ability to file regular and irregular materials weighing up to 20 pounds in alphanumeric order in file drawers at varying heights, ranging from 12 inches to over 5 feet with push and pull weights reaching 25 pounds.
Ability to work for extended hours as required.
Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.
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.
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.
Why the Fed:
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'll work in an environment with a diverse group of talented professionals to foster and support the safety, soundness, and vitality of our economic and financial systems. It's a challenge that demands the skills of a financial services professional and the intellectual curiosity of an academic—all combined with a passion for public service.
The Federal Reserve Bank of New York is committed to a work environment that respects and fully values the strengths and differences of its people. Working at the New York Fed provides talented professionals the chance to grow their skills at an institution that has served a critical role in the financial system of the United States and the world for over a century. An important component of the Bank's diversity effort is our partnership with several professional non-profit organizations, including INROADS, JumpStart Advisory Group, NBDC Emerging Leaders, Seizing Every Opportunity, National Black MBA, Out for Undergrad, Prospanica and Reaching Out MBA.
Internal Number: 5901620
About Federal Reserve Bank of New York
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