Student Profile: From Goldman to the Fed: An Inside Look

Justin Lerner, currently enrolled in the NYU Stern MS in Risk Management Program, has been professionally involved with risk management in a variety of roles since 1998. Currently charged with risk and policy at the Federal Reserve Bank of New York, which he joined in 2011, Justin spent 13 years previously at Goldman Sachs, in risk roles ranging from managing derivatives risk on the NYMEX and AMEX exchange floors to dealing with Hedge Funds in prime brokerage and clearing.

Still, he acknowledges, he had plenty to learn from Stern’s Master of Science in Risk Management program. “My risk knowledge was narrowly focused on issues that were investment-bank driven, such as asset market risk, derivatives, and firm balance sheet liquidity,” he explains. “I was looking to expand my perspective given that I am now working for the Federal Reserve, whose mandate of systemic stability and prudential regulation is much broader.”

A Long Island, N.Y., native, with an undergraduate business degree from SUNY-Binghamton, Justin spent more than three years in London for Goldman, where he headed the Risk Management desk for GSI Clearing in Europe and was responsible for risk management for EU- and Asia-based clients. Among other achievements, he co-headed the development of an institutionalized risk platform for Europe and Asia, as well as partnered with other senior risk managers in developing risk methodology for Prime Brokerage and Clearing clients. He explains that the methodology, through a multifactor scenario analysis, modeled global risk in equities, options, futures, commodities, FX, credit, and OTC products, unlocking balance sheet usage for hedge fund clients while mitigating risk.

Read more about Justin’s student profile.

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