Risk - FEDERAL RESERVE BANK of NEW YORK

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Risk

Mihaela Nistor (bio)
Chief Risk Officer
and Group Head

View another group:

The Risk Group's Mission is to help the Bank achieve its strategic objectives through value-added independent and integrated risk assessments, independent risk oversight, and by providing advice, insight, and tools that enhance resilience and improve business outcomes. We establish frameworks and standards to effectively manage the Bank’s risk exposure and help build a more resilient bank for the future.

Enterprise Risk Management
The Enterprise Risk Management Function’s primary responsibilities include supporting the Bank’s efficient and effective execution of the Risk Management Framework, assessing enterprise risk, and delivering an integrated view of Bank risks to the Bank’s senior management and Board of Directors.

Financial Risk Management
The Financial Risk Management Function’s primary responsibilities include independent assessment of the Bank’s aggregate financial risk exposure and support of the Bank’s financial operations through efficient risk taking across the following categories of financial risk: Counterparty, Sovereign Credit, Asset Credit, Settlement, Market, Liquidity, Pricing/Valuation, Model, Analytical Decision-Making.

Risk Response & Resiliency Function
The Risk Response & Resiliency Function’s primary responsibilities include designing, measuring, testing, monitoring, and evaluating programs related to resiliency risk.

Business Risk Advisory Services Function
Centralized Risk Group interaction with businesses that allows for a more seamless Risk Group/business line experience consisting of: Business Risk Advisory: • Provide expert advice, guidance, analysis, and insights to inform decision making and enhance overall business effectiveness. • Manage risk management planning practices to ensure an independent and integrated second-line view of risks across business operations, strategies, programs, and objectives. • Manage the Bank’s issue management program, ensuring timely identification, assessment, resolution, and monitoring of issues across the Bank. Controls Assurance: • Ensures that key controls within the Bank are identified, designed and operating effectively to mitigate key risks. Product Risk & Operations: • Responsible for the strategy and implementation of Products to provide data-driven insights to improve risk management across the Bank and enable operations across the Risk Group.