What we do:
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 multiple official accountholders. The Counterparty Credit Risk (CCR) Team of the Markets Group monitors and assesses 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) 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.
Your role as a Credit Risk Associate:
- Perform credit risk assessments of foreign banking organizations with FRBNY accounts and services, maintain internal risk ratings, and implement appropriate measures to reduce credit risk following Federal Reserve System (FRS) and FRBNY policies.
- Conduct periodic strength-of-support assessment of foreign banks. Prepare credit analysis of assigned institutions and work with internal partners to use additional risk information and insights. Evaluate all relevant elements and create an overall view with regard to strength of support.
- Monitor the financial condition of foreign banks, industry trends and regulatory and macro developments in the markets in which they operate. Identify early warning signals and communicate risks and potential effects. Recommend risk mitigation measures.
- Support the periodic financial update process relating to the foreign banks portfolio. Maintain financial models to support ongoing surveillance work.
- Work with FRBNY Supervision Group and other regulators to obtain risk information on bank counterparties to enhance risk monitoring.
- Determine and coordinate risk mitigation approaches for higher risk counterparties in collaboration with FRBNY Supervision, Financial Services and other important partners.
- Coordinate management of the Bank’s exposure to financial institutions in deteriorating or failing condition, working with Legal, Supervision, Discount Window, Financial Services, other Reserve Banks, and other regulators.
What we are looking for:
- Bachelor’s degree in business, finance or economics. Master’s degree or CFA is a plus.
- 7 + years in credit analysis specializing in the banking sector. Experience in credit assessment of foreign banks preferred.
- Working knowledge of global banking environment and regulatory developments.
- Strong analytical skills with an ability to assimilate new information, understand complex topics, and arrive at sound analysis.
- Good communication and interpersonal skills.
- Proficient in MS Office, SNL and credit research and information systems.