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Federal Reserve Bank Main Street Risk Manager in Boston, Massachusetts

Main Street Risk Manager

The Bank & Main Street Lending Program As part of the Central bank of the United States, the Boston Fed works to promote sound growth and financial stability in New England and the nation. We contribute to communities, the region, and the nation by conducting economic research, participating in monetary policy-making, supervising certain financial institutions, providing financial services and payments, playing a leadership role in the payments industry, and supporting economic well-being in communities through a variety of efforts.

The Main Street Lending Program is designed to provide support to small and medium-sized businesses and their employees across the United States during the current period of financial strain by supporting the provision of credit to such businesses. The availability of additional credit is intended to help companies that were in sound financial condition prior to the onset of the COVID-19 pandemic maintain their operations and payroll until conditions normalize. Small and medium-sized businesses are integral to the U.S. economy and create jobs for a large share of the U.S. workforce

Job Summary This position is responsible for implementing and administering the risk management program for the Main Street Lending Program. This includes contributing to the development and execution of the risk management framework and related risk management activities.

Principal Accountabilities 1. Contribute to the development of risk management program policies and procedures. 2. Lead and oversee the execution of risk and control self-assessments including the evaluation and implementation of related controls. Identify risk, process and control improvement opportunities, and effective risk mitigation strategies. 3. Lead the implementation of the Programs control framework, including control validation or testing, oversight and completion of in-scope process documentation (e.g., narratives, flow charts, risk and control matrices, etc.) and testing of key Program controls. 4. Advise the Programs business areas on the design, implementation, and monitoring of controls; the identification of vulnerabilities; and the development of remediation plans to mitigate risk and strengthen control framework. 5. Lead the implementation, and monitoring of risk tolerances, risk limits and key risk indicators 6. Oversee the preparation of risk reporting (risk profile, risk package, metric dashboard) and promote effective information dissemination. 7. Independently lead complex ad hoc assignments, special projects, or initiatives, as needed.

Other Accountabilities Perform other duties as assigned.

Supervision This position may be required to directly supervise 1-3 employees.

What You Bring Knowledge and experience normally acquired through, or equivalent to, the completion of a Master’s Degree and/or obtainment of other advanced professional designations, licenses, or certifications and 5-7 years of job related experience. Candidates are also expected to be proficient in risk management techniques and frameworks, including familiarity with audit and internal control practices. Candidates must also be highly proficient in implementing industry standards and best practices in risk management programs and processes inclusive of risk identification, analysis, response, communication, monitoring and escalation. In addition, candidates are expected to understand the risk impact of and inform key Program objectives and critical processes.

How You Will Be Successful · Balance priorities and risks: short-run and long run, organizational unit and enterprise, one type of risk versus another type of risk · Solid analytical and problem solving skills, including the ability to conduct complex analysis, synthesize information, produce reports, and convey findings · Strong communications (verbal, written, and presentation) skills. · Strong interpersonal skills including the ability to influence and build collaborative cross-organization relationships. · High degree of initiative and ability to self-start and self-prioritize assignments, and make timely and effective decisions. · Demonstrated ability to manage multiple/ simultaneous complex projects independently, ensuring all deadlines and objectives are met.

All employees assigned to this position will be subject to FBI fingerprint/ criminal background and Patriot Act/ Office of Foreign Assets Control (OFAC) watch list checks at least once every five years.

The Federal Reserve Bank of Boston is committed to a diverse and inclusive workplace and to provide equal employment opportunities to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, or military service.

The above statements are intended to describe the general nature and level of work required of this position. They are not intended to be an exhaustive list of all duties, responsibilities or skills associated with this position or the personnel so classified. While this job description is intended to be an accurate reflection of this position, management reserves the right to revise this or any job description at its discretion at any time.

Organization: *Federal Reserve Bank of Boston

Title: Main Street Risk Manager

Location: MA-Boston

Requisition ID: 265062

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