Counterparty Credit and Analysis Associate - Markets Group

Federal Reserve Bank of New York
New York, USA
Sep 05, 2019
Oct 06, 2019
Job Function
Credit Analysis
Industry Sector
Finance - General
Employment Type
Full Time
The Federal Reserve Bank of New York (FRBNY) is exposed to credit risk through its provision of financial services to second district depository institutions and through the carrying out of market operations at the direction of the Federal Open Market Committee (FOMC), as fiscal agent of the United States and for various official accountholders. The Counterparty Credit Risk (CCR) Team of the Markets Group is responsible for monitoring and assessing the credit risk of this diverse group of counterparties, identifying institutions that pose a heightened level of risk to the Bank, measuring the magnitude of such risk and implementing risk controls. More specifically, counterparty credit exposures arise from Discount Window lending, intraday extension of credit through counterparties' use of FRBNY payment systems and services, open market trading activities, Federal Reserve lending facilities and liquidity programs, and other types of activities. Some of the trading activities include outright securities transactions, securities repurchase (repo) agreements and reverse repo agreements, foreign exchange transactions, foreign exchange swaps, and other credit transactions. CCR also participates in internal discussions concerning the trade-offs between policy benefits and risk exposure from extending credit and other topical financial issues.

Principal Duties and Responsibilities:
  • Monitor the financial condition of institutions, industry trends as well as regulatory and macro developments. Identify early warning signals and communicate risks and potential implications effectively. Recommend risk mitigation measures, as appropriate.
  • Obtain intelligence from the Supervision Group and other regulators on the supervisory status and financial condition of bank counterparties to enhance risk monitoring.
  • Perform credit risk assessments of various types of depository institutions with FRBNY accounts and/or services, maintain internal risk ratings, and implement appropriate measures to mitigate credit risk in accordance with Federal Reserve System (FRS) and FRBNY policies. Provide input into daylight credit decisions.
  • Determine and coordinate risk mitigation approaches for higher risk counterparties in collaboration with FRBNY Supervision, Financial Services , business teams, and other key stakeholders.
  • Coordinate management of the Bank's exposure to financial institutions in deteriorating or failing condition, liaising with Legal, Supervision, Discount Window, Financial Services, other Reserve Banks, other regulators, and key stakeholders.
  • Participate in and contribute to internal and cross-district workgroups, projects and initiatives related to policy, technology solutions and data quality.

Job Requirements:
  • Bachelor's degree in business, finance or economics, or equivalent work experience; Master's degree and/or CFA is a plus
  • 5 years of experience in credit analysis specializing in the banking and financial services industry
  • Prior work experience or expertise in several of the following areas:
    • Bank regulation with a focus on credit risk management
    • Credit risk measurement and scenario analysis
    • Risk reporting
    • Credit markets, collateralized lending, and repurchase agreements
    • Federal Reserve payments services (e.g. Fedwire, ACH)
    • Federal Reserve Payment System Risk and Condition Monitoring policies
  • Excellent analytical and quantitative skills demonstrated by the ability to assimilate new information, understand complex topics, and arrive at sound analysis and judgment
  • Good Excel and macros. Working knowledge of SNL.
  • Strong communication and interpersonal skills. Able to work in a team environment.
  • Ability to work independently

This position requires access to Federal Open Market Committee Data, 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.

This position has additional screening requirements due to the information accessed while performing the job. These additional screenings would be initiated at the time of offer acceptance and can take a couple of months to be completed. You can begin work before the screening is completed; however, continued employment is contingent on acceptable screening results. The screening areas such as education/employment verification, criminal history, credit history, and reaches out to your references and people that know you well.

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.