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Job Title: Risk Examiner - Models & Methodologies
Job Location: NY: New York
Pay Rate: Open
Job Length: full time
Start Date: 2008-09-19

Company Name: Federal Reserve Bank of New York
Contact: Human Resources
Phone: email only please
Fax: email only please

Description: Risk Examiner - Models & Methodologies

Req ID: 2461 Group: Bank Supervision Group Location: New York, NY Job Status: Full-Time Job Category: Experienced

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Area Overview The Models and Methodologies Team partners with other areas in Bank Supervision and leads in the evaluation of risk modeling and methodologies in the banks that we supervise. Team members contributions to the Group include considerable industry knowledge of models of market, credit, and operational risk measurement and management. Team members also provide thorough and insightful technical expertise of modeling techniques used by supervised institutions. In addition, the Team coordinates with and provides leadership to the supervised institutions, within the New York Fed, and within the US and international supervisory communities. The successful candidate will leverage these individual experiences and will look more broadly across institutions, providing analysis, supplying insights, and identifying emerging risks and trends. The selected candidate will perform targeted reviews focusing on banks application of tools utilized to address (a) market risk measurement (such as value-at-risk and stress testing), (b) quantification of credit risk, including risks inherent in traded credit products (e.g. current and potential future exposure), and on (c) industry practices in the emerging discipline of operational risk measurement and management. The selected candidate will critically evaluate the implementation of the Basel II accord regarding best practices in risk management throughout the supervised banks.

Job Responsibilities

* Lead the efforts to critically evaluate the risk model implementation of state member banks, bank holding companies, non-bank subsidiaries and foreign banking organizations; * Assess the quality of the overall methodologies and the particular models that are currently in use or under consideration for adoption at the supervised institutions; * Present supervisory conclusions to management at FRBNY and the supervised institution at various organizational levels, including top executives; * Monitor developments in capital markets through the supervision process and identify important emerging trends and risks, both at the individual institution level and at the industry level; * Develop peer perspective on institutions overall risk methodologies and individual risk modeling efforts; * Coordinate activities and approaches to risk model evaluation with other regulatory bodies, both within the US and internationally; * Communicate the cross-institutional perspective on leading-edge risk management techniques within the Federal Reserve, in an interagency setting, within the international supervisory community, and to the supervised institutions; and * Provide intellectual leadership in bank supervision policy circles within the US and within the international community.

Job Requirements The best fits for the Models and Methodology Team include candidates with an advanced degree, such as a Masters in Financial Engineering; a Masters in Business Administration with a quantitative focus; or a PhD in Economics, Finance, Statistics or some other quantitative business discipline. Additional professional experience in financial services, including commercial or investment banking, bank supervision, or credit rating agencies, is a large plus. Statistics, econometrics, model building, or model evaluation, either in an academic setting or in practical experience, provide useful background understanding that is valued by the team. 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.

Please refer to Job code fedny-5693 when responding to this ad.

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