The Federal Reserve Bank of New York works to promote sound and well-functioning financial systems and markets through its provision of industry and payment services, advancement of infrastructure reform in key markets and training and educational support to international institutions.
The Outreach and Education function engages, empowers and educates the Second District communities that the Bank serves, especially civic leaders, students, educators, small business owners, policymakers and the general public. It furthers the Bank's commitment to the region by listening to the communities we serve and leveraging our unique attributes to positively impact school and university programs, as well as analysis and research.
Area: Markets Title: Officer, MOMA, Markets Education: Bucknell University
Why the Fed?
With the Fed's central role in stabilizing the financial system and our economy, I couldnt think of a more exciting place to work while simultaneously applying and expanding upon my skills in commercial real estate and hospitality finance. Also, after working for commercial banks for 15 years in a lending capacity, I was intrigued by the opportunity to gain the perspective of the Bank that runs one of the worlds largest payments systems.
As an officer in the Special Investments Management Group, my primary responsibilities include the oversight and asset management of the commercial real estate loan exposures related to the Bank's Section 13 (3) extension of credit in connection with JPMorgan Chase and Cos acquisition of Bear Stearns Companies Inc. I am a member of a dynamic team that is responsible for working with the Banks vendors to manage and keep senior management informed of any significant issues that may arise in the oversight of the portfolio.
Challenges and Rewards of My Job
The challenges of my job include developing effective strategies to achieve the groups goals, given that we are operating in an environment not experienced in many of our lifetimes. This challenge has also fostered many rewards including the ability to think creatively and apply my skills and knowledge of the commercial real-estate debt product in a different context. It has also been rewarding to be able to collaborate with a team of professionals with diverse backgrounds and perspectives.
How Is the Fed Unique?
The Fed embraces a culture of diversity, integrity and continuing education. In addition to encouraging working across different divisions of the Bank, the Bank offers training courses for professional development. The Fed is also unique in that it has had to rapidly expand its staff in the aftermath of the financial crisis, creating a widely diverse employee base of seasoned professionals from both the public and private sectors.