Consumer Credit , Quantitative Risk Specialist
Federal Reserve Bank of New York - New York, NY

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230262

Federal Reserve Bank of New York

Primary Location

NY-New York City

Full-time / Part-time

Full-time

Employee Status

Regular

Overtime Status

Exempt

Job Type

Experienced

Travel

No

Shift

Day Job

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.

Responsibilities

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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The Federal Reserve Bank of New York works within the Federal Reserve System and with other public and private sector institutions to foster...