The Markets Group at the Federal Reserve Bank of New York (FRBNY) implements monetary policy on behalf of the Federal Reserve System and acts as fiscal agent for the U.S. Treasury Department. As part of these duties, the Market Operations Monitoring and Analysis (MOMA) function within the Markets Group executes transactions in the open market and conducts monitoring and analysis of financial market developments in support of the Federal Reserve's monetary policy and financial stability objectives.
MOMA is seeking a Senior Associate or First Level Officer for the Counterparty and Risk Management (CRM) directorate. The CRM directorate coordinates the development and implementation of counterparty policies, first line of defense monitoring and analysis of counterparty credit risk, planning and execution of the counterparty review and assessment process, and the escalation and adjudication of counterparty credit issues through the counterparty governance structure. Periodically, the CRM directorate coordinates a comprehensive review of the counterparty framework to ensure alignment with policy objectives and risk management principles. In addition, within CRM, the Counterparty Administration (CPA) staff is responsible for coordinating the application, onboarding, off-boarding and geographic dispersion compliance processes for counterparties as well as managing ongoing counterparty relationships. CPA also maintains counterparty legal agreements, contact lists, and performance review documentation.
Lead periodic reviews of the MOMA's counterparty framework, which consists of in-depth assessments of current and projected transaction needs, counterparty capabilities and performance, and developments in broker/dealer market structure and regulation. This involves representing the Group in working closely with senior FRBNY stakeholders and representing the Bank in consultation with the Board of Governors to assess and achieve the desired tradeoffs between business and public policy objectives. Manage the planning, implementation and expected business implications of counterparty policy changes resulting from these reviews.
Direct MOMA's counterparty credit analysis with the Markets Group's 1st line of defense Counterparty Credit Risk team and the escalation of counterparty concerns through the counterparty governance structure, working in conjunction with MOMA business areas and FRBNY 2nd line of defense risk management, legal and compliance stakeholders. Ensure the ongoing monitoring and timely communication of counterparty developments.
While collaborating with other risk management and business technology staffs, provide thought leadership to design, develop and maintain databases and dashboards of counterparty credit assessment, exposure, control, compliance and administrative information.
Ensure actions selected to mitigate counterparty credit risk are executed by the relevant MOMA business areas and follow the proper governance protocols.
Provide leadership to engage Markets Group and FRBNY stakeholders in the development of the strategic plan for counterparty assessment and management, ensuring effective prioritization and execution of associated projects.
Manage the planning and execution of the annual counterparty review and assessment process, critically evaluating current counterparties' capabilities and performance in MOMA operations to ensure counterparties are supportive of and aligned with existing MOMA operations and operational readiness plans.
Graduate degree required. Fields of study should include business, economics, finance, public policy, or related discipline
A minimum of 7 years of relevant professional experience in the financial sector, economic or policy analysis, or a related field
Demonstrated expertise in counterparty credit risk analysis and risk mitigation approaches
Strong interpersonal, organizational and collaboration skills
Strong decision-making skills using independent judgment
Experience leading teams to deliver high quality products containing complex analysis under tight timeframes
Ability to influence stakeholders, building coalitions necessary to drive change efforts when needed
Excellent quantitative and qualitative analytical skills
Superior written and verbal communication skills, including the ability to effectively convey complex subject matter in a concise, articulate, and insightful manner
Very strong critical thinking skills, with the capacity to generate original ideas, assimilate new information, and develop sound conclusions in a timely manner
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.
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.
Federal Reserve Bank