Job Overview

Area Overview

The Funding, Liquidity and Interest Rate Risk Department reports to the Head of Risk Management within the Bank Supervision Group. It’s primary purpose is to supervise funding, liquidity and interest rate risk management policies and practices for banks operating in the Second District (New York region Federal Reserve district). Responsibilities include oversight of US banking organizations as well as foreign banking entities operating in the New York region. The Commonwealth of Puerto Rico also falls within the jurisdiction of the New York Federal Reserve, hence banks that are domiciled or do business on that island are also under the purview of the Department. A key objective of the Funding, Liquidity and Interest Rate risk team is to ensure that banking 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 field supervisory initiatives.

Job Responsibilities

The candidate is expected to be a thought leader, bringing best in class funding, liquidity and interest rate risk management techniques and ideas to the Department. The ability to analyze balance sheet asset and liability structures, identify potential risks and evaluate appropriate risk mitigants is critical. This experience would have been developed through prior leadership roles in a significant financial institution or business. Familiarity and understanding of complex financial instruments such as structured products, hybrid securities, derivatives would be expected. Prior experience managing funding and liquidity issues is also expected. Candidates must possess the gravitas and financial expertise to engage Treasurer and CFO level management at supervised financial institutions.

The incumbent’s day to day responsibilities may include:

1. Examinations: Participate in or lead examinations of the funding, liquidity and interest rate risk management functions at institutions including large complex banking 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 FRBNY and the supervised institutions.

2. Risk Profile Analysis: Monitor the funding, liquidity and interest rate risk levels at these large complex banking institutions through data definition, collection and analysis. Demonstrate strong intellectual curiosity and identify emerging risks as business strategies, funding profiles and interest rate environments change. Perform special analyses and continuous monitoring trend analyses as part of a comprehensive early warning measure of idiosynchratic and/or systemic risk.

3. Policy Development: Support the development and implementation of domestic and international supervisory policy pertaining to funding, liquidity and interest rate risk management activities that the Department may be engaged with in conjunction with other US supervisory agencies as well as global counterparts and international committees such as under the Bank for International Settlements (BIS).

4. Projects: 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.

Job Requirements

The successful candidate should possess an MBA or MS in Finance with at least 5 years of experience in asset liability and/or funding management. In depth product knowledge of secured funding markets, fixed income, structured products, mortgages, and financial derivatives is also highly desirable.

Consideration may be given to candidates with an appropriate combination of a Bachelor’s degree in a quantitative discipline (e.g., finance, economics, mathematics) and significant experience managing funding, liquidity and interest rate risk.

In addition, 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 and oral communication skills and well-developed presentation skills;
Strong competence utilizing spreadsheets, databases and the Bloomberg system;
Familiarity with finance theory and statistical analysis.

The Federal Reserve Bank of New York values and is committed to a diverse workforce.

Candidates must be eligible to work in the United States on a multi-year basis for other than practical training purposes (authorization under a student visa to engage in practical training does not satisfy this requirement).