Document Type

Lessons Learned

JEL Codes

G01, G29


Til Schuermann joined the Federal Reserve Bank of New York (FRBNY) in 2001 and held several positions during his tenure, including senior vice president and head of Financial Intermediation in Research and head of Credit Risk in Bank Supervision. In spring 2009, he played a leadership role in the design and execution of the “bank stress test” and the subsequent Comprehensive Capital Analysis and Review (CCAR) programs. After leaving the FRBNY in March 2011, he became a partner at management consulting firm Oliver Wyman, where he has led stress testing for more than 25 banks and financial institutions. He participated in the European Central Bank’s Comprehensive Assessment in 2014 and conducted a 2016 assessment of the Bank of England’s stress-testing program for the International Monetary Fund. This Lessons Learned is based on an interview with Schuermann on September 28, 2021.