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Risk Modeling and Analytics Specialist

Federal Reserve Bank of Atlanta

Federal Reserve Bank of Atlanta

Data Science
New York, NY, USA
Posted on Thursday, February 1, 2024

Company

Federal Reserve Bank of New YorkWorking at the Federal Reserve Bank of New York positions you at the center of the financial world with a unique perspective on national and international markets and economies. You will work in an environment with a diverse group of experienced professionals to foster and support the safety, soundness, and vitality of our economic and financial systems.

The Bank believes in work flexibility to balance the demands of work and life while also connecting and collaborating with our colleagues in person. Employees can expect to be in the office a couple of days per week as needed for meetings and team collaboration and should live within a commutable distance.

What we do:

The Supervision Group of the Federal Reserve Bank of New York (FRBNY) supervises banks in the Second District. The objectives of supervision are to:

  • Evaluate and promote the overall safety and soundness of supervised institutions

  • Ensure supervised institutions’ compliance with relevant laws and regulations, including consumer protection

  • Facilitate the stability of the financial system of the United States

  • Support the growth and stability of the U.S. economy

Supervision is carried out through a combination of methods, including on-site and off-site examinations involving staff dedicated to the supervision of an individual firm and other professionals focused on analytical, policy, and risk matters. Supervision is coordinated with other U.S. agencies.

The New York Stress Testing (NYST) Department in the Supervisory Policy and Strategy (SPS) function, is a key contributor to the Federal Reserve System’s annual supervisory stress test, which assesses whether bank holding companies and U.S. intermediate holding companies with $100 billion or more in total consolidated assets are sufficiently capitalized to absorb losses during a hypothetical recession. NYST leads scenario design for the global market shock (GMS) component of the stress test, which is applied to firms with significant trading or custodial operations. In addition, NYST develops and runs models to estimate trading and counterpart credit stress losses and produces in-depth analytics and ongoing monitoring tests on the models.

Your role as a Risk Modeling and Analytics Specialist:

  • Designing, implementing, and updating quantitative models of market risk factor behavior and/or trading and counterparty credit profit and losses, primarily in the R language, in collaboration with other quants and economists.

  • Documenting, testing, monitoring, and troubleshooting such models.

  • Keeping informed of financial market practices and developments that could impact the effectiveness of such models.

  • Presenting model results in verbal and written form to program leadership, model validators, and other key stakeholders.

  • Contributing to the development and maintenance of modeling infrastructure, such as front-end tools implemented in R Shiny.

What we are looking for:

  • The ideal candidate will be knowledgeable about market and/or counterparty credit risk, have strong statistical programming skills, and ability to work well with multiple teams and areas.

  • Demonstrated experience with statistical modeling, such as regressions, copulas, or Monte Carlo simulation.

  • Strong analytical and critical thinking skills, demonstrated by the ability to assimilate information, understand new and complex topics, and integrate data and analysis.

  • Demonstrated experience with the R programming language.

  • Expertise or demonstrated experience in the following a plus: Git version control software; SQL and relational databases; Machine learning techniques.

  • Knowledge of bank regulation-related topics such as stress testing and capital regulation preferred.

Salary Range: $192300 - $229300 / year

We believe in transparency at the NY Fed. This salary range reflects a variety of skills and experiences candidates may bring to the job. We pay individuals along this range based on their unique backgrounds. Whether you’re stretching into the job or are a more seasoned candidate, we aim to pay competitively for your contributions.

Our Touchstone Behaviors—Communicate Authentically, Collaborate Inclusively, Drive Progress, Develop Others, and Take Ownership—help shape the culture of the Bank. They also provide a shared language for how we work together and achieve success, and they set clear expectations for leading with impact at every stage of your career with us. Learn more.

Benefits:

Our organization offers benefits that are the best fit for you at every stage of your career:

  • Fully paid Pension plan and 401k with Generous Match

  • Comprehensive Insurance Plans (Medical, Dental and Vision including Flexible Spending Accounts and HSA)

  • Subsidized Public Transportation Program

  • Tuition Assistance Program

  • Onsite Fitness & Wellness Center

  • And more

Please note that the position requires access to confidential supervisory information and/or FOMC 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, and U.S. permanent residents who either are not yet eligible to apply for naturalization or who have applied for naturalization within the requisite timeframe. Candidates who are permanent residents may be eligible for the information access required for this position if they sign a declaration of intent to become a U.S. citizen and pursue a path to citizenship and meet other eligibility requirements.

In addition, all candidates must undergo an enhanced background check, comply with all applicable information handling rules, and will be tested for all controlled substances prohibited by federal law, to include marijuana.

The New York Fed expects its employees to perform their duties with honesty, integrity, and impartiality, and without improper preferential treatment of any person. Learn more about our code of conduct and conflicts of interest rules.

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

We value accessibility for all candidates and are happy to provide an accommodation or assistance. Please email us at ny.leaves@ny.frb.org and we’ll be glad to help.

This is not necessarily an exhaustive list of all responsibilities, duties, performance standards or requirements, efforts, skills or working conditions associated with the job. While this is intended to be an accurate reflection of the current job, management reserves the right to revise the job or to require that other or different tasks be performed when circumstances change.

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

Yes

Job Category

Analytical

Work Shift

First (United States of America)

The Federal Reserve Banks believe that diversity and inclusion among our employees is critical to our success as an organization, and we seek to recruit, develop and retain the most talented people from a diverse candidate pool. The Federal Reserve Banks are committed to equal employment opportunity for employees and job applicants in compliance with applicable law and to an environment where employees are valued for their differences.

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