Federal Reserve Bank of New York
NY-New York City
Full-time / Part-time
The Credit Risk Department within the Financial Institution Supervision Group promotes a safe and sound banking system and a stable financial system by effectively identifying existing and emerging credit risk trends. The Consumer Credit & Analysis team contributes to the Bank's financial stability objectives by proactively monitors and identifies inherent/emerging risk related to consumer credit businesses (Residential Mortgage, Credit Card, Auto and other retail lending) through continuous monitoring, exams, horizontal analyses and advanced analytics, in collaboration with on-site teams and experts across the System. The Consumer Credit Analysis team provides input to and help produces various high priority analysis of the financial capacity of our supervised institutions to support their consumer credit businesses. In addition, the Analysis team provides examination support and expertise for high risk consumer activities and Basel II implementation. The Analysis team's primary focus is domestic large complex banking organizations that are active in consumer credit businesses, but it also applies its expertise as needed in the supervision of other institutions with material consumer credit exposures.
The selected candidate will support the team’s objective to implement and execute a more rigorous continuous monitoring model that further leverage data analysis to identify vulnerabilities, which feeds into risk assessments, supervisory plans and exam execution. He or she will leverage in-depth consumer product expertise, advanced analytical skills and sound supervisory knowledge to look more broadly across institutions, providing analysis, supplying insights, and identifying emerging risks and trends. The selected candidate will also perform select targeted reviews to analyze financial institutions’ lending practices and evaluate the risk management processes/controls that govern consumer credit products.
Lead analytical efforts to assess current industry practices, evaluate conditions and trends, and identify emerging risks as financial products/markets evolve, both at the individual institution level and at the industry level
Develop / enhance quantitative framework and tools to support supervisory stress testing of consumer portfolios
Formulate and communicate cross-horizontal perspective on supervised institutions’ overall inherent / emerging risk and risk management practices for use in risk assessments, supervisory plans and exam execution
Participate on or lead examinations of consumer lending activities at supervised banking organizations (periodic in- and out-of-state travel may be required); which will require presentation of examination results to Federal Reserve and the supervised institution at various executive levels
Participate as needed in the development or refinement of existing supervisory guidance for sound risk management and analytics
Coordinate analytical activities and approaches relating to consumer credit within the bank and across the System
Promote statistical / analytical understanding and knowledge transfer to team members.
At least 10 years of experience in the financial industry with broad product knowledge of residential mortgage, credit card, auto, small business and other retail lending
Strong knowledge of retail credit risk analytics and modeling, and in particular, advanced knowledge of statistical analysis, predictive modeling and segmentation methodologies
Solid knowledge of consumer credit risk management principles and practices in the relevant retail portfolios
Experience in Basel II construct including segmentation, PD, EAD, LGD quantification and credit risk ratings are a plus
Experience in using statistical packages (e.g. SAS) are a plus
Superior problem-solving skills
Excellent written and oral communication skills; well-developed presentation skills
The candidate should possess an advanced degree in a quantitative discipline such as Statistics, Operations Research, Financial Engineering, Mathematics of Finance, MBA with a quantitative focus, Applied Mathematics, or Economics. Undergraduate degree acceptable if combined with related industry experience.
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.
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