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.
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.
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.
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.
Coordinates and administers the Bank's Operational Risk Management Program, including a methodology for managers to identify, mitigate and monitor operational risks.
Enterprise Risk Management
The Enterprise Risk Management (ERM) Function supports the Bank’s Enterprise Risk Management program. The ERM program is designed to provide a unified view of the risks of most consequence to the Bank’s ability to achieve its mission and to enable more efficient and effective responses to mitigate threats and to capitalize on opportunities.
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.
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.