Funding & Liquidity Specialist, Risk Management - Financial Institution Supervision

Job details

• Salary:  Competitive
• Location: New York < NY < USA
• Job Type: Permanent, Full time
• Company:  Federal Reserve Bank of New York
• Posted on: 16 Feb 14

See job description for details
Institutional Overview

The Funding and Liquidity department's primary mission is to monitor and assess the funding and, liquidity risk management practices and risk levels at complex financial institutions operating in the Second Federal Reserve District. Responsibilities include oversight of US financial organizations, as well as foreign entities operating in the New York region. A key objective of the Funding and Liquidity risk team is to ensure that financial institutions have robust procedures and controls in place to properly identify, measure, manage and control existing and emerging risks related to funding, liquidity and interest rate risk management. In order to achieve that key objective, the team members are engaged in continuous data collection, analysis, and special projects to complement on site supervisory initiatives.

Responsibilities

The candidate is expected to be a thought leader, possess exceptional analytical and problem solving skills and bring best in class funding, liquidity and interest rate risk management knowledge to the team. The ability to analyze off balance sheet structures and balance sheet asset and liability components and evaluate risk concerns and vulnerabilities emanating from business line activities is critical. This experience would have been developed through prior leadership roles at a complex financial institution. Familiarity and understanding of complex financial instruments such as structured products, securitization vehicles, hybrid securities, and derivatives would be expected. Prior experience in a Corporate Treasury and/or risk management function involved in the management of the firm's funding and liquidity activities is also expected. Candidates must possess superior communication skills and financial expertise to engage Treasurer and CFO level management at supervised financial institutions. Preferred experience includes Funding and Liquidity management of finance companies and commercial lending operations or asset-based lending.

The incumbent's day to day responsibilities will include:

1. Risk Assessment, Evaluation and Control

• In this role the candidate will have responsibility for understanding the firm’s Treasury, ALM and business activities to identify direct and indirect risks emanating from funding and business activities that warrant close supervisory monitoring. This includes contributing to cross functional financial stability initiatives in collaboration with colleagues around the bank, to assess domestic and global financial system risks, influence risk management practices and ensure such efforts are integrated with the department’s ongoing supervisory work to identify idiosyncratic and systemic risk issues
• Candidate would lead examinations of the funding, liquidity and interest rate risk management practices at this financial institution, as well as participate on reviews at other complex institutions to facilitate peer group perspective. He/She would have responsibility for presenting supervisory issues to various levels of management at FRBNY and supervised institutions. Candidate would foster relationships and information sharing with other supervisory agencies and foreign regulators as appropriate.

2. Policy Development

• Support and influence the development and implementation of domestic and international supervisory policy pertaining to funding, liquidity and interest rate risk management activities that the Group may be engaged with in conjunction with other US supervisory agencies as well as global regulatory counterparts and international committees such as the Bank for International Settlements (BIS) and Basel Committee on Banking Supervision.

3. Projects

• As a senior member of the team, participate in or lead projects on industry-wide risk-taking, risk management practices and other issues related to systemic financial stability. Synthesize and analyze complex financial information and apply that knowledge to a broad range of financial issues.

Qualifications:
Qualifications

• The successful candidate should possess an MBA or MS in Finance, Economics, or similarly relevant degree
• 15 years of experience in Treasury, ALM, or a related risk management function covering asset liability and/or funding management, ideally in a large, complex financial institution; In depth product knowledge of unsecured funding markets, asset-based financing and leasing, fixed income, structured products, and financial derivatives is highly desirable, including Funding and Liquidity management of finance companies’ commercial lending operations or asset-based lending.
• Consideration will be given to candidates with an appropriate combination of a Bachelor’s degree in a quantitative discipline (e.g., finance, economics, mathematics) and significant work experience managing funding, liquidity and interest rate risk at complex organizations.
• Candidates should have:
• Proven record of strong quantitative and analytical thinking skills demonstrated by the ability to understand complex and technical topics and arrive at sound supervisory judgments
• Superior problem solving skills combined with excellent written communication skills and well-developed presentation skills
• Strong competence utilizing spreadsheets, databases and market data tools including Bloomberg
• Familiarity with finance theory, quantitative methods and statistical analysis
• Strong formal and informal 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.

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