**************************************************************
JobCircle.com is the largest regional job board in the
Mid-Atlantic region, with tens of thousands of job offerings
in PA, NJ, DE, MD, NY, and Washington D.C. To learn more,
visit http://www.jobcircle.com?source=ng
**************************************************************

Job Title: Risk Examiner - Models & Methodologies Operational Risk
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 Operational Risk

Req ID: 2462 Group: Bank Supervision Group Location: New York, NY Job Status: Full-Time Job Category: Experienced

Options

Refine Search

Send This Job to a Friend

View Job Cart (0)

View My Account

&nbsp

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 have particular expertise in operational risk measurement techniques and strong familiarity in operational risk quantification. The selected candidate will perform targeted reviews focusing on banks application of tools utilized to address (a) quantification of operational risk, including underlying methodology assumptions such as distributional shape and correlations, (b) industry practices in the emerging discipline of operational risk measurement and management, and (c) technical understanding of the models to the overall implementation within the risk measurement framework. The selected candidate will critically evaluate the implementation of the Basel II accord regarding best practices in operational risk management and with an understanding of industry practice throughout the supervised banks.

Job Responsibilities

* Lead the efforts to critically evaluate the operational risk model implementation of state member banks, bank holding companies, and possibly non-bank subsidiaries and foreign banking organizations; * Assess the quality of the overall methodologies and the particular operational risk 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 operational risk measurement techniques 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 operational risk methodologies and individual risk modeling efforts; * Coordinate activities and approaches to operational risk model evaluation with other regulatory bodies, both within the US and internationally; * Communicate the cross-institutional perspective on leading-edge operational 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 fit 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, especially in operational risk measurement, 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. While having a strong quantitative understanding is critical, the successful candidate needs to be able to evaluate technical details within a broad non-technical context, and be able to clearly explain, both in written and oral form, how and why model assumptions impact the overall risk measurement and management framework. Candidates must be eligible to work in the U.S. on a continuous basis for other than practical training purposes. We offer the opportunity for Flexible Work Arrangement options. For additional benefits information, please visit our web site at www.newyorkfed.org/careers.

Please refer to Job code fedny-5694 when responding to this ad.

For FASTEST PROCESSING of your resume, please visit http://www.jobcircle.com/classifieds/1691191.html?source=ng to apply online.

**************************************************************
For fastest processing of your resume, this employer asks that
you apply to this job using the URL above.
**************************************************************