Credit Risk Specialist

Federal Reserve System • New York, NY

2d • $240,000 - $270,000 • Onsite

About The Position

The Credit Risk Specialist joins the Federal Reserve Bank of New York’s Counterparty Credit Risk (CCR) team within the Markets Group. The team monitors and assesses the credit risk of a diverse group of counterparties, identifies institutions that pose heightened risk, measures exposures, and implements risk controls. The role supports the Bank’s financial services to depository institutions and its market operations, including lending, payment services, securities transactions, and foreign exchange activities.

The specialist performs credit analyses of depository institutions with FRBNY accounts or services, maintains internal risk ratings, implements risk-mitigation measures, and provides input into intraday credit decisions. The role monitors institutions’ financial condition and relevant industry, regulatory, and macroeconomic developments; identifies early warning signals; and communicates risks and potential implications. It also coordinates mitigation for higher-risk counterparties, supports the failing-bank process when needed, reviews account applications, and liaises with supervisory authorities and internal stakeholders.

The position also guides junior analysts and contributes to CCR operational work, including records management and policy and procedure maintenance. The specialist leads or participates in internal and cross-district workgroups, projects, and initiatives concerning policy, technology solutions, and data quality. The role requires subject matter expertise in counterparty credit analysis and management, strong analytical, communication, interpersonal, and influencing skills, and the ability to manage projects independently and build collaborative relationships. The position is full-time and onsite, with flexibility from time to time. It requires access to confidential supervisory information and/or FOMC information, subject to applicable eligibility requirements.

Requirements

• Subject matter expertise in counterparty credit analysis and management.
• Exceptional analytical and quantitative skills, including the ability to assimilate new information, understand complex topics, and reach sound analysis and judgment.
• Strong communication, interpersonal, and influencing skills, and ability to work in a team environment.
• Ability to manage large projects independently and with limited oversight.
• Demonstrated ability to build trust and develop collaborative and inclusive relationships through candor, reliability, and authenticity as a leader and colleague.
• Ability to effectively represent the business area and the Bank with external counterparts on credit risk management issues, as appropriate.
• Proven ability to communicate authentically and effectively, verbally and in writing, with all levels of the organization.
• Must meet the applicable eligibility requirements to access confidential supervisory information and/or FOMC information.

Nice To Haves

• Experience with Federal Reserve System policies, frameworks, information systems, and governance bodies is highly desirable.
• Expertise in bank regulation, with a focus on credit risk management.
• Expertise in credit risk measurement and scenario analysis.
• Expertise in risk reporting.
• Expertise in credit markets and collateralized lending.
• Expertise in Federal Reserve payment services, such as Fedwire and ACH.
• Expertise in Federal Reserve Payment System Risk and Condition Monitoring policies.

Responsibilities

• Perform credit analyses of depository institutions with FRBNY accounts and/or services, maintain internal risk ratings, and implement credit risk mitigation measures in accordance with Federal Reserve System and FRBNY policies.
• Provide input into intraday credit decisions.
• Monitor depository institutions’ financial condition, industry trends, and regulatory and macroeconomic developments; identify early warning signals and communicate risks and potential implications.
• Recommend and coordinate risk mitigation approaches for higher-risk counterparties with FRBNY Supervision, Financial Services, business teams, and other stakeholders.
• Implement CCR’s failing-bank process when needed, liaising with Legal, Supervision, Discount Window, Financial Services, other Reserve Banks, other regulators, and key stakeholders.
• Review account applications to ensure that providing accounts does not pose excess credit risk to the FRBNY, in coordination with internal stakeholders.
• Guide the work of more junior analysts.
• Liaise with FRBNY Supervision and other supervisory authorities, including the OCC and NCUA, to optimize communication and information transfer regarding supervised depository institutions.
• Guide or contribute to CCR operational work, including implementing records-management mandates and maintaining and streamlining policies and procedures.
• Lead or participate in internal and cross-district workgroups, projects, and initiatives related to policy, technology solutions, and data quality.

Benefits

• Educational assistance, career development tools, and stretch opportunities.
• Parental leave, adoption assistance, back-up dependent and elder care, and college planning resources.
• Comprehensive insurance plans and leave policies.
• Onsite Health & Wellness Center and onsite Fitness Center.
• Pension plan.
• 401(k) with generous match.
• Financial planning resources.
• Subsidized public transportation program.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Education Level: No Education Listed