Counterparty Credit Risk Specialist, LISCC Program - Supervision Group

Employer
Federal Reserve Bank of New York
Location
New York, USA
Salary
Competitive
Posted
Jul 22, 2019
Closes
Jul 24, 2019
Ref
6172236
Job Function
Other
Industry Sector
Finance - General
Employment Type
Full Time
Education
Bachelors
Overview:

The LISCC supervision program is the Federal Reserve's national supervisory program for the nation's largest most systemic financial institutions. The program is overseen by the LISCC Operating Committee (OC) and is executed by hundreds of staff supplied by multiple Reserve Banks and the Board.

Counterparty Credit Risk Team Members are responsible for monitoring and examining specific areas of credit risk in the day-to-day execution of the LISCC Capital Program, a year-round supervisory program that assesses the capital adequacy, capital planning, and financial risks and controls of the largest bank holding companies on a forward-looking basis. The Capital Program is led by the Capital Steering Committee (SC) and Program Leadership Group (PLG) and is responsible for the execution of all capital-related supervisory activities for the LISCC supervision program.

The Capital Program is seeking a Counterparty Credit Risk Team Member, who will report to a Counterparty Credit Risk Deputy Team Lead, as an examiner responsible for ensuring that supervisory monitoring and examinations result in timely, credible, and well-supported assessments of firms' capital planning practices and financial risk management and controls within the team's area of responsibility. The Counterparty Credit Risk Team Member will also collaborate with LISCC firms' dedicated supervisory teams (DST) and other LISCC programs to ensure that planned examination activities are reflected in supervisory plans for the year. Counterparty Credit Risk Team Members are expected to have knowledge of counterparty credit risk practices at LISCC firms and experience leading teams on exam and project work.

Principal Duties and Responsibilities:

Key responsibilities in this role include, but are not limited to, the following:

  • Working with the Team Lead and Deputy Team Leads to execute a supervisory plan for counterparty credit risk reflective of the supervisory work required to evaluate firms' capital planning and financial risk management and internal controls;
  • Serving as a subject matter expert on the horizontal team, and participating in the development and execution of examination scope memorandums, assessment work programs, conclusion memorandums, and supervisory feedback letters;
  • Participating in the assessment of firms' remediation of supervisory issues and elevating issues to the Deputy Team Leads, where appropriate; delivering clear, written and oral supervisory messages to firm leadership in collaboration with other Capital Program participants and the DSTS; and
  • Contributing to the development and implementation of analytical and other tools to systematically monitor, analyze and report on counterparty-related capital and financial conditions and developments at LISCC firms;
  • Monitoring and reporting on changes in inherent risk and risk management practices for a portfolio of LISCC firms, and developing knowledge and expertise of the counterparty credit risk management practices for those firms.


Qualifications:
Requirements:

  • 7-9 years of relevant work experience preferred.
  • Bachelor's degree required, advanced degree or equivalent (e.g., CFA charter) preferred.
  • Commissioned Examiner a plus.
  • Well-developed organizational, communication and collaboration skills.
  • Demonstrated experience in counterparty credit risk management, including CVA practices, derivative and other traded products, risk measurement techniques and legal documentation practices.
  • Demonstrated ability to set priorities as well as execute in a timely manner priorities as set by/with more senior management.
  • Generally periodic, and at times frequent, travel including extended overnight stays may be necessary.


Listing of Essential Skills & Abilities:

  • The following are the essential skills needed to perform this job:
  • Ability to proactively collect information, viewpoints and analyses from individuals of different expertise and backgrounds, and assimilating them to build consensus even when they are conflicting views which needs to be resolved.
  • Ability to assimilate information, analyze complex issues, and develop sound written conclusions/decisions and recommendations
  • Ability to recall and apply various policies and concepts and ensure compliance with banking laws and regulations.
  • Ability to lead comprehensive and effective meetings with firm management exploring and evaluating risk management practices.
  • Ability to balance multiple priorities and meet tight deadlines within a fast-paced and high stress environment.
  • Ability to work independently, cooperatively and courteously with peers across districts, in a matrix management environment, fostering the team effort; and provide assistance to co-workers as needed.
  • Analytical and problem solving skills, including the ability to conduct analysis, synthesize information, produce summaries and reports, and effectively convey findings to area management.
  • Strong oral and written communication skills, including ability to write memoranda and report comments that are concise, cohesive and persuasive.
  • Ability to accept changing roles, responsibilities, work processes, assignments, etc.
  • Ability and willingness to learn about banking industry issues and trends and seek opportunities to apply new material.
  • Ability to travel locally, domestically, for all day meetings and internationally as required. Domestic travel of up to 40% of time may be required.
  • Ability to carry portable personal computer, work papers, and personal effects weighing up to 15 pounds; the ability to file regular and irregular materials weighing up to 20 pounds in alphanumeric order in file drawers at varying heights, ranging from 12 inches to over 5 feet with push and pull weights reaching 25 pounds.
  • Ability to work for extended hours as required.


T he 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.

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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