Risk Specialist, Rates/FX – Financial Institution Supervision recruitment


The Market Risk team supervises the trading and capital markets activities of Second District (New York) financial institutions with the objective of promoting market integrity and financial stability in the U.S. and global banking system. The successful candidate will have a proven record of strong analytical thinking, good managerial skills, including the ability to manage projects, and excellent written and oral communication skills. In-depth knowledge of the following areas is highly desirable:

· Rates and foreign exchange (*priority)
· Credit trading
· Modeling
· Risk valuation/price verification

The successful candidate will demonstrate the ability to quickly develop a supervisory perspective on markets, financial institutions and financial stability.

Responsibilities:

The candidate's time is expected to be divided among the following three job responsibilities:
1. Examinations: Participate in or lead examinations of the market risk management function at financial institutions in the Second District and other Federal Reserve Districts (travel of up to 30% may be required). Present examination results to various levels of management at the Federal Reserve Bank of New York and the supervised institutions.
2. Monitoring of Risk Profile: As part of a FRBNY team located on-site at a systemically important financial institution, monitor the risk levels of traded products and capital markets activities of the supervised institution. Identify emerging risks as markets evolve and as new financial products come to market.
3. Projects: Participate in or lead projects on industry-wide risk-taking, risk management practices, stress testing or other issues related to financial stability.

Skills

At a minimum, a Bachelors degree in a quantitative discipline (e.g., economics, finance, mathematics, etc.), or a Bachelors degree in a non-quantitative discipline with extensive quantitative work experience; a Masters degree (MBA, MA, or Public Policy) with specialization in economics, finance, statistics or other quantitative disciplines is highly desirable. In addition, candidates should be able to demonstrate:
· Strong quantitative and analytical thinking skills, with the ability to understand complex and technical topics.
· Familiarity with econometrics, finance theory and statistical analysis. Familiarity with term structure models, option pricing theory, and various VaR methodologies would be ideal.
· Excellent written and oral communication skills, including well-developed presentation skills.

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.