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 & Education function engages, empowers and educates the public in the Second District. Our outreach mission furthers the Bank’s commitment to the region by listening to the communities we serve and developing programs, analysis and sponsored conferences and clinics to help meet their needs. Our education mission aims to advance public knowledge about the Federal Reserve System and its role in the economy.
Area: Financial Institution Supervision Title: Bank Examiner Education: Rutgers University
Why the Fed?
I have always admired the critical mission of the Federal Reserve: to foster the safety and soundness and vitality of our economic and financial systems. Having the chance to use my experience in the private sector to assist the Federal Reserve in analyzing financial institutions and systemic risk is an amazing opportunity for me. Given the growing complexity of our financial system, this seemed to me to be an ideal time to join the New York Fed. Since joining, I have witnessed firsthand the strong interest management takes in developing its people from across the Bank, utilizing innovative ways to improve processes and to enhance our multidimensional approach as bank regulators.
Currently, I am involved in my first rotation, working closely with the on-site relationship team. My responsibilities include: developing a financial analytical framework that monitors quarterly fluctuations in the firm's financial statements and key risk areas; scrutinizing the findings raised by the firms internal audit team; analyzing the revenue drivers of a key business segment; determining potential vulnerabilities associated with each component; and monitoring emerging risks for the wholesale and retail credit businesses at the firm. In addition to my daily responsibilities, I am assigned to a high-profile project involving teams from the Board of Governors in Washington, D.C., and other Federal Reserve Banks.
Challenges and Rewards of My Job
Every day is new, exciting and challenging! Whats really great is that you have people across the Federal Reserve that will help you develop the right skill set and knowledge base to succeed. Banks are currently under a tremendous amount of scrutiny. As bank regulators, we are challenged to stay abreast of current market conditions and determine the likely impact capital markets may have on a firms capital adequacy and risk exposures. A broad range of issues require analysis, including the potential for a new regulatory framework that is intended to help mitigate future shocks to our economy.
How Is the Fed Unique?
I have always been an ambassador of diversity. At the Federal Reserve, diversity is fostered in two unique ways: through the development of a culturally diverse workforce and by embracing a diversity of ideas. The Federal Reserve understands the importance of diversity, and its employees help make the New York Fed an employer of choice. The Federal Reserve truly cares about cultivating its people. This is evidenced by the array of people I have met and their tendency to build a career at the Federal Reserve. Most of the people I have met have been here for more than 15 years—few other institutions can claim such an accomplishment.