Business Line Specialist Team Leader

The Federal Reserve Bank of New York was incorporated in May 1914 and opened for business in November later that year. To commemorate the New York Fed’s centennial, take a look at the people and events that helped shape our history

This Team is responsible for developing and executing the supervisory program for this financial services firm. The Supervisory Program is accomplished through a combination of continuous monitoring activities, horizontal reviews and a series of more formally defined target examinations. The Business Line Specialist Team Leader is responsible for guiding the Business Line Specialist Team in evaluating the strategic direction of the business. This requires an understanding the underlying business strategies and identifying the internal/external vulnerabilities inherent in these strategies that may expose the firm to undue risk. Internal factors will include the soundness of the firm’s business strategy, the firm's ability to execute its strategy, and the associated risk management practices at both the business line and sub-business line level. External factors include the firm's competitive position, the regulatory landscape, technological innovation, and broader macroeconomic and financial market trends.

- Developing and maintaining relationships with key business heads for relevant businesses and, through a regular dialogue, having a deep and nuanced understanding of the strategy and performance of the businesses they are tracking; - Developing and monitoring metrics that measure the performance of the businesses against their stated goals in terms of risk and return; - Driving continuous monitoring project work related to trading business practice culture, electronic trading governance, management performance scorecards and client profitability scorecards and residual risk management from business exits; - Collaborating with the appropriate risk specialists to assess progress against business, risk and control objectives in order to identify emerging issues (internal and external) and the impact of strategies on the firm’s risk profile and control infrastructure; - Monitoring trends in new transactions and/or product offerings at the firm and together with Risk Specialists assessing the adequacy of the firm’s related control infrastructure; - Collaborating with BLS colleagues to implement the quarterly CaPS Business Line Readouts to discuss cross-firm business line trends, developments and outliers by sharing insights on areas/issues that senior business management have been focused on, key trends and developments, revenue drivers, areas of growth/shrinkage, client demand/deal flow, and meaningful adjustments to business/product strategies; - Maintaining a current understanding of industry developments, including trends, new products, significant regulatory changes, and the implications of changes in the macroeconomic environment for their area of focus; and, - Synthesizing their own work with the work of the relevant Risk Specialists to develop an overall view of the safety and soundness of their assigned business, and how well it is being run.

- Strong technical knowledge of investment banking and trading businesses; - Proven presentation skills; - Competence and presence to interact with senior leaders at the Reserve Bank and the firm; - Ability to guide and manage business line specialists in the development, implementation and monitoring of metrics that measure the performance of the businesses and to draw supervisory assessments and implications; - Ability to lead business line specialists in working collaboratively with BLS colleagues to synthesize supervisory assessments and areas of supervisory concern/focus from information gained from both institution-specific monitoring work as well as cross-firm perspectives; - Strong collaboration skills and the ability to guide business line specialists in working with and drawing upon a wide range of technical experts to develop a holistic view of the business; - Strong leadership, analytical and communication skills to synthesize a view of the business in efforts to appropriately communicate the supervisory perspective within the Reserve Bank, Federal Reserve System and at the firm. - Advanced degree in finance, business or a quantitative discipline or a minimum of seven years relevant work experience or supervisory experience.