Risk

Sandra C. Krieger (bio)
Executive Vice President
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The Risk Group leads and coordinates the Bank's assessment of its financial risks, and its payments policy and oversight agenda. The responsibilities of Risk include:

  • Evaluation of the credit and market risks arising from the Bank’s extension of intra-day credit, discount window lending, special lending arrangements; evaluation of counterparty and vendor credit risks for the Bank, and implementation of the Board of Governor’s payments system risk policy;
  • Independent valuation and risk assessments of loans, securities, and other financial exposures to support business line decision-making, risk management, financial reporting and System financial stability analysis;
  • Development and execution of model validation processes to mitigate model risk:
  • Policy development and oversight for systematically important payment, clearing and settlement activities, including the advancement of interdisciplinary perspectives in the Bank;
  • Administrative and project management support, budget preparation and resource coordination for the Subcommittee on Credit Risk Management (SCRM); and
  • Oversight of the centralized applications used by the Reserve Banks’ discount window operations and payments system risk policy administration.
Credit Risk Management
  • Provides a Bankwide view of financial risk to senior management;
  • Conducts risk assessments to support the Bank's key financial activities, including evaluations of the credit risk of the Bank's counterparties;
  • Assesses credit risk in eligible discount window collateral and a broad range of new issuances.
Risk Analytics
  • Provides independent valuation and risk assessments of loans, securities, and other financial exposures to support business line decision-making, risk management, and financial reporting for the Bank, and the System’s collateral policies;
  • Supports the Bank’s model validation policy.
Operational Risk
  • Coordinates and administers the Bank's Operational Risk Management Program, including a methodology for managers to identify, mitigate and monitor operational risks.
  • Provides Secretariat support for the Bank’s Operational Risk Committee (ORC), a subcommittee of the Bank’s Management Committee. The ORC discusses common risk issues, lessons learned from internal control issues, and methods for addressing internal and external developments that may affect the Bank's risk profile.
Payments Policy
  • Leads the coordination of Bankwide policy work and oversight work related to systemically important payment, clearing and settlement activity, with the aim of increasing the resiliency and stability of the financial system.
  • Works in partnership with key stakeholders and subject matter experts across the Bank, the Federal Reserve, at domestic and foreign regulatory agencies, and in the private sector to achieve this mission.
SCRM Administration Office
  • Provides analytical, project and administrative support for the Subcommittee on Credit Risk Management (SCRM) and the SCRM Committee chair by facilitating a strategic and collaborative approach to the development and accomplishment of SCRM's business objectives.
SCRM CRM Technology Support
  • Provides management and oversight for the SCRM consolidated IT application portfolio and budget support for SCRM’s portfolio of centralized work.
Group Support
  • Provides centralized support to the Group in its management of finance, facilities, administrative support, information and data, operational risk, business continuity planning, human resources, vendors and internal communications.