Consumer Credit , Quantitative Risk Specialist recruitment
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.
Skills
- 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.