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 service 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. Click here to learn more.
Overview: The National Payments, Clearing & Settlement (PCS) Team fosters financial stability through the supervision of systemically important payments, clearing, and settlement activities engaged in by LISCC firms. The PCS Team's supervisory oversight takes a macro-prudential approach to promote the safety, soundness, and resilience of these interconnected institutions as a whole ecosystem, rather than as discrete entities. PCS activities covered include, but are not limited to US dollar (USD) clearing and foreign exchange (FX) settlement, retail payments, prime brokerage, securities clearing and settlement and derivatives clearing and settlement.
Participate in the planning and execution of supervisory work to assess adequacy of PCS risk management practices and/or identify vulnerabilities and emerging risks through analysis of qualitative and quantitative data. Supervisory work includes participating in or leading horizontal exams, firm-specific exams, remediation validation, baseline monitoring and in-depth reviews in accordance with the LISCC Governance & Controls (G&C) Operations Manual.
Engage with Designated Supervisory Teams (DSTs) and G&C to discuss and develop annual supervisory plans and priorities related to PCS activities.
Working in conjunction with DSTs, facilitate regular baseline monitoring meetings with firms and analyze firm MIS reports to inform supervisors' views on a range of topics, identify and understand any new emerging risks and understand changes in existing risks.
Lead and manage industry outreach initiatives, including, but not limited to, crafting agenda topics, developing written products and presenting key findings to relevant stakeholders across the Bank.
Lead, and or contribute to, the development of assessments of PCS activities as an input to firms' supervisory ratings.
Contribute to the development of cross-institutional perspectives on sound or leading practices, risk indicators, and comparative standings to inform supervisory policies.
Lead projects related to PCS topics, including working on Federal Reserve System (FRS) initiatives and conducting research and analysis on topics of special interest to the team.
Present supervisory findings and issues to staff and senior management within the Bank and the broader FRS, as well as management at supervised institutions.
Deliver clear, balanced, well-supported, consistent and timely messages with senior management of supervised institutions.
Prepare written reports or other correspondence to communicate analytical findings and matters of supervisory / policy interest to management, and recommend supervisory follow-up steps.
Work and coordinate effectively with colleagues across the FRS, including but not limited to staff from other LISCC supervisory programs (e.g., Capital, Liquidity, Monitoring & Analysis and Recovery & Resolution), Federal Reserve Board (e.g., Supervisory Policy and Reserve Bank Operations) and Reserve Banks, as applicable.
Collaborate with all FRS stakeholders to work together to generate new ideas, problem solve, share expertise and actively support each other to achieve goals.
Oversee, or direct, the work of other examiners on projects, as applicable.
Provide thought leadership to, and drive strategic orientation on, the team's projects by leveraging relevant expertise, as applicable.
Bachelor's degree required. Master's degree preferred. Preferably in finance/banking, business, economics, public policy, or a related field.
Identify, evaluate, and analyze relevant risk components associated with the PCS activities.
Work experience in prime brokerage (including, but not limited to, FX, cash and synthetic products) with a fundamental understanding of the business, key risks across all lines of defense and a strong technical understanding of the quantitative metrics associated with business platform that will be used to develop various analytical reports.
Strong critical thinking skills; intellectual capacity and agility to assimilate and analyze qualitative and quantitative information to identify key market trends, potential issues/risks and implications.
Execute strong judgement to appropriately characterize and represent any relevant risk issues.
Experience managing large and complex projects and project teams.
Strong self-management skills, including ability to take initiative and ownership of assignments, produce results under tight time constraints, operate within rapidly evolving priorities, and work independently and as a team member.
Strong interpersonal and collaboration skills, including possessing a flexible and positive attitude and maintaining effective working relationships.
Strong written and oral communication skills, including ability to articulate and frame complex ideas and tailor communication appropriately to the audience.
Proficiency in using various software applications (e.g., MS Excel, Powerpoint, Tableau, etc.).
Please provide a cover letter briefly highlighting how your background aligns to the role. Highlight your work experience in prime brokerage (including, but not limited to, FX, cash, and synthetic products with a fundamental understanding across the business, key risks across all lines of defense and a strong technical understanding of the quantitative metrics associated with business platform used to develop analytical reports.
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.
Internal Number: 6683932
About Federal Reserve Bank of New York
eFinancialCareers is a career site specializing in financial services.