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Team Leader, Model Risk - Supervision Group more...
Location:New York, NY
Company:Federal Reserve Bank of New York
First posted:May 24, 2017

Primary Location: NY-New York City

Full-time / Part-time: Full-time

Employee Status: Regular

Overtime Status: Exempt

Job Type: Experienced

Travel: Yes, 15 % of the Time

Shift: Day Job

Area Overview


The Model Risk Department partners with other areas in Supervision and leads in the evaluation of risk modeling and methodologies of the financial institutions supervised by the Federal Reserve Bank of New York. Department team leaders and members' contributions to the Supervision include extensive knowledge of quantitative and qualitative aspects of models across applications such as Basel, CCAR and business-as-usual models. The successful candidate will have a proven record of strong analytical skills and thought leadership, solid managerial skills, including the ability to manage projects and support exams, and excellent written and verbal communication skills.  This position will provide oversight of specialists who have both a quantitative and qualitative understanding of model risk management (MRM) and have responsibility for coverage across the LISCC and LBO portfolio.  

Job Responsibilities

  • Lead a team of senior professionals in the continued build-out of a System-wide model risk metrics analysis program.
  • In conjunction with other team leads, develop an enhanced program to comprehensively assess quantitative and qualitative model risk and model risk management at NY LISCC firms.
  • Lead and mentor in key System Risk Secretariat initiatives including LISCC Model Risk Management Horizontal.
  • Develop, maintain and enhance relationships with supervised institutions, other supervisory authorities, other areas of the Group and the Bank, other Reserve Banks and Board staff;
  • Manage, lead in the design and ensure the successful execution of ongoing monitoring of model risk related metrics by functioning as the System lead of a 9 member subgroup of the Models Risk Secretariat team dedicated to Model Risk Analytics Monitoring of LISCC firms; 
  • Partner with SSO teams in the successful implementation of new Policy initiatives related to Basel implementation particularly around recent model change control processes for Advanced Approaches;
  • Support and direct staff in their development of RWA analytics including model performance ramifications, potential capital optimization strategies, and relationship to other risk and performance metrics;
  • Assist in the identification of thematic and/or systemic model risk topics across firms and, as appropriate, develop topics for inclusion in department deliverables;
  • Participate in firm meetings and present supervisory observations and conclusions to management at FRBNY and the supervised institution at various organizational levels, including top executives and committees;
  • Provide intellectual support in financial institution policy circles within the US and to those engaged in the international community



Job Requirements

  • Advanced degree preferred in Finance, Economics or related field such as mathematical finance;
  • Recognized as a thought leader in core expertise and able to apply expertise to achieve workable outcomes;
  • A strategic thinker, who takes a broad view of the Bank, System and external environment; makes connections and devises forward-looking strategies;
  • Recognized as a thought leader in core expertise, and able to apply expertise to achieve workable outcomes;
  • Demonstrated ability to effectively lead multiple projects and drive and deliver results despite competing priorities;
  • Excellent communication skills both verbal and written, including the ability to lead discussions and make meaningful contributions to working groups composed of senior staff and leaders from the Bank;
  • Strong analytical, problem solving, critical thinking, and decision-making skills, with an ability to remain poised and make difficult decisions in a timely and pragmatic manner;
  • Experience in model risk management activities in particular governance processes related to model validation and Board and Senior Management reporting and oversight;
  • Familiarity with Basel II/III advanced approaches and Market Risk Rule requirements, capital adequacy processes and associated Risk Weighted Assets;
  • Strong team player, collaborative, constructive and considerate of others' inputs;
  • Occasional domestic or international travel may be required.

All interested candidates should submit a cover letter and resume through the Bank's FedCareers website and apply to req 250475


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.


The Federal Reserve Bank of New York is committed to a diverse workforce and to provide equal employment opportunity to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, or military service.



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