Risk Specialist – Financial Institution Supervision recruitment
The Counterparty Credit Risk (CCR) team's primary mission is to supervise financial institutions' measurement and management of counterparty credit risk resulting from traded products activities, particularly OTC derivatives activities. The Risk Specialist is responsible for leading firm-specific CCR supervisory coverage. The Risk Specialist will identify and investigate CCR in existing businesses and is expected to develop a deep understanding of risk-taking and risk management practices at a specific firm. The Risk Specialist will contribute to firm-specific supervisory risk assessments as well as to macro-prudential perspectives on financial stability issues related to counterparty credit risk. Candidates for the position should have strong analytical and problem solving skills and advanced written and oral communication skills. Experience in and/or exposure to capital markets preferred. Understanding of Market Risk/CCR measurement preferred. The successful candidate should be able to leverage these skills in order to evaluate risk management practices, identify issues of supervisory importance, and inform senior management and policy decision making.
RESPONSIBILITIES
• Apply sound practices and supervisory expectations to firm-specific CCR management practices to identify vulnerabilities and areas of supervisory focus;• Participate in CCR monitoring activities on topics of supervisory importance.• Conduct and participate in examinations at the assigned institution as well as peer institutions to ensure consistent standards are applied. • Serve as contact point for CCR issues at a specific institution or institutions; • Collaborate with other stakeholders to ensure that complex issues are appropriately addressed.• Demonstrate strong intellectual capacity and the ability to identify and share cross-industry risk management practices and emerging industry risks.• Participate in broader supervisory efforts and specific projects, where CCR expertise is required.
Skills
• Baseline knowledge of traded credit/market risk principles and practices as well as capital market dynamics; experience in the analysis and/or risk management of market risk or counterparty credit risk is preferred; • Some product knowledge of OTC derivatives is preferred;• Analytical capability to track inherent risk and link it to the quality of risk management practices toward identifying firm-specific vulnerabilities;• Excellent collaboration skills shown through consistent information sharing and fostering partnerships with others outside his or her own expertise;• Familiarity with ISDA Master Netting Agreements and Collateral Support Agreements is a plus;• Familiarity with market risk or credit risk measurement techniques is highly desirable, particularly VaR and Monte Carlo simulation methodologies• Solid written and verbal communication; Ability to interact with senior management; • Strong quantitative skills demonstrated by the ability to understand complex and technical topics and arrive at sound judgments;• Masters degree in Finance, Economics, Financial Engineering or an MBA is preferred• CFA or FRM designation is also highly desirable.
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.