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| Specialized Training Programs |
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| In addition to the general Central Banking Seminar, the Bank
also offers specialized courses in Bank Supervision, U.S. Monetary
Policy Implementation, Management and Operations, Payment Systems,
Portfolio Management and Market Analysis and U.S. Economy: Interpreting
the Indicators. Several programs are held the week following
the Central Banking Seminar, and at least two of them are repeated
in the spring. Most courses last for one week and some run concurrently.
The specialized courses feature in-depth presentations by experts
from the particular specialty areas and, in selected instances,
speakers from outside the Bank.
Beyond the technical information covered in the specialized courses, the programs' collegial environment offers the participants extensive opportunities to network at all levels. Participants interact with the speakers and other Federal Reserve Bank officials both during sessions, and informally at luncheons, receptions, and other gatherings. Individual appointments with officials in the financial community can also be arranged so that the participants are able to pursue seminar topics in greater detail. Each specialized course draws together participants from industrial, emerging and transitional economies on a common footing. Participants meet and establish personal contact with fellow central bankers and supervisors from around the world. Through these contacts, participants explore how others cope with universal challenges. For Participants - Please note that participation is limited to central bankers and bank supervisors. In addition, we must receive an endorsement from the governor or chief executive of your institution before we review your application. Endorsements should be sent via facsimile to Carol Tortora, International Affairs Office, (212) 720-1527, or via e-mail to carol.tortora@ny.frb.org. Calendars and agendas are updated each season. |
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Designed for international bank supervisory specialists, Bank Supervision provides an overview of how the Federal Reserve System carries out its supervisory responsibilities, emphasizing risk-focused supervision. Topics include examinations of U.S. and foreign banking organizations, qualitative rating systems, credit, market and other key risk assessments and corporate governance. October 27-30, 2008 |
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| The U.S. Monetary Policy Implementation course covers
the institutional arrangements and operational procedures used
by the Federal Reserve to implement its domestic monetary policy
and to manage its portfolio of domestic assets. Topics covered
include methods of forecasting the central bank’s balance
sheet, formulation and execution of open market operations,
role of requirements and standing facilities, and other related
topics.
The course will also include discussion sessions in which participants will be expected to contribute meaningfully to conversations regarding methods for monetary policy implementation. In doing so, participants should be comfortable describing the framework and operating procedures used by their respective central banks to implement monetary policy and the major challenges. The course is intended for central bankers and other officials directly involved with the implementation of monetary policy. In the past we have received many more qualified applicants than we could accept, and we have had to grant preference to those individuals whose job responsibilities were directly involved with operations to implement monetary policy. October 27-31, 2008 |
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| The Management and Operations program covers the management of central bank operations, internal audit and operational risk management, planning for operational change and cost effectiveness, and management of information technology investment. It is intended for central bankers who are or who will be involved in the general management of their institutions. The speakers relate the topics to the management and delivery of various services to depository institutions. The course includes a visit to the Bank's high tech East Rutherford Operations Center and a New York financial institution. October 27-30, 2008 |
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| The Portfolio Management and Market Analysis course has a limited enrollment and is open only to people currently holding the position of Reserve Manager at the central bank. Because of this limited enrollment we may not be able to accommodate all of the nominees for this course. October 27-31, 2008 |
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The Payment System Policy and Oversight course provides an introduction to payment system risk issues from a policy and oversight perspective. The course offers an overview of the design, risk management, and current issues of major payment, clearing and settlement systems in the United States, as well as the policies and approaches used by the Federal Reserve to oversee them. Course participants also have the opportunity to share and to learn from their respective payment system experiences. |
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The Operational Risk Management and Internal Audit program provides an overview of key control-related functions. The risk segment of the program consists of an overview of the Bank's operational risk framework, and the various processes used to identify and manage risk. The audit segment covers primary audit activities and techniques and their integration with the operational risk management program.
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U.S. Economy: Interpreting the Indicators reviews how the primary U.S. data series on production, expenditures, employment and prices are utilized in preparing judgmental forecasts of the American economy. The course describes the data production and release processes, examines the longer-run and cyclical movements in the series and discusses how judgmental forecasts are made and altered in the light of events. Additionally, the course will cover the development and incorporation of forecasts for other industrial and emerging market economies into the outlook for the U.S. economy. Participants should have knowledge of basic undergraduate macroeconomics. October 27-30, 2008 |
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