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Federal Reserve Bank Risk Analyst, Senior I in Boston, Massachusetts

Senior Risk Analyst
The Federal Reserve Bank
Boston, MA

Working at the Federal Reserve Bank positions you at the center of the financial world with a unique perspective on national and international markets and economies. You will work in an environment with a diverse group of experienced professionals to foster and support the safety, soundness, and vitality of our economic and financial systems. It is a challenge that demands the skills of a financial service professional and the intelligence of an academic—all combined with a passion for public service.

Overview of Team/ Function:

The Credit Risk Management (CRM) Unit of the Supervision, Regulation, and Credit Department of the Federal Reserve Bank of Boston (FRBB) has an opening for a Senior Risk Analyst I/II. The CRM Unit contributes to FRBB's mission to promote sound growth and financial stability in New England and the nation by serving as a source of liquidity to depository institutions (DIs) by extending overnight credit to qualifying DIs through the Discount Window, providing emergency credit to the financial system during times of market stress, and administering the Board of Governors' Payment System Risk policy governing the use of intraday credit. Our lending activities assist the Board and the Federal Reserve Open Market Committee in implementing monetary policy.

The CRM Unit manages the credit risk posed by intraday and overnight credit exposure by (i) monitoring the condition of DIs, taking actions to avoid the risk posed by those that pose heightened risk to the Reserve Bank and the financial industry, and coordinating DI failures; and (ii) ensuring that all extensions of credit are secured to the satisfaction of the Reserve Bank by making ongoing determinations as to the acceptability and valuation/margining of collateral pledged by DIs. Additionally, we actively contribute to System and local policy initiatives, and, on behalf of the System, lead those relating to collateral eligibility and valuation.

Reporting to the Risk Manager, you will perform complex data functions, including complex analyses and compliance work to support CRM strategic initiatives, including Reserve Bank counterparty credit risk management, lending activities, and determining adherence to regulatory/policy standards, identifying and advising management on lending and collateral policy issues, and participating in local or Federal Reserve System projects, workgroups and strategic initiatives.

Responsibilities:

  • Maintain a working knowledge of the functionality of, and data housed within, Credit Risk Management applications. Build databases, create and validate queries, and prepare reports, dashboards, and analyses for unit management, and Bank senior management and Board of Directors.
  • Analyze data in tandem with other sources of information to assess financial/safety and soundness, systemic, legal, and reputational risks and produce well-supported and compelling analyses to support System policy development and local Discount Window, collateral, or condition monitoring initiatives.
  • Develop/maintain an understanding of CRM policies, processes, and procedures, and related developments in the banking industry.
  • Perform a wide array of analyses that involve independently blending information from multiple sources to assess legal, financial/safety and soundness, systemic, and reputational risks and produce well-supported and compelling written analyses.
  • Identify new issues and trends in external market factors, assess the potential impact on multiple dimensions of credit risk, applying an integrated risk management approach, and communicate issues, trends, and associated risks.
  • Manage projects where guidance is unclear, adjusting quickly to new and different priorities, including adjusting and realigning scope, assignments, deliverables, and deadlines.
  • Work with internal and System-level colleagues, Reserve Bank management and external contacts.

Qualifications:

  • Experience acquired through Master's degree (or equivalent), and 3 years of job-related experience.
  • Data-driven (e.g., Access, SAS, SQL) and understanding of functional area data sources. Awareness of policies, trends, and technologies affecting the banking industry and understanding of the effects of changing business and market conditions.
  • Proven data-driven analytical skills (e.g., experience applying data analysis to solve business problems/questions).
  • Thinking outside of the box to develop creative solutions to problems.
  • Tailor concise and effective communications for different audiences.
  • Field a steady flow of emergencies/deliverables, ensuring high priority goals are met.
  • Partner with others in a team environment.

Supervision:

You will not be required to directly supervise others.

Our total rewards program offers benefits that are the best fit for you at every stage of your career:

  • Comprehensive healthcare options (Medical, Dental, and Vision)
  • 401K match, and a fully funded pension plan
  • Paid vacation and holidays; flexible work environment, healthy workflow
  • Generously subsidized public transportation
  • Annual tuition reimbursement
  • Professional development programs, training and conferences
  • And more…

/The Federal Reserve Bank is committed to a diverse, equitable 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./

/This position requires access to confidential supervisory information and/or FOMC information, which is limited to "Protected Individuals" as defined in the U.S. federal immigration law. Protected Individuals include, but are not limited to, U.S. citizens, U.S. nationals, and U.S. permanent residents who either are not yet eligible to apply for naturalization or who have applied for naturalization within the requisite timeframe. Candidates who are not U.S. citizens or U.S. permanent residents may be eligible for the information access required for this position and sponsorship for a work visa, and subsequently for permanent residence, if they sign a declaration of intent to become a U.S. citizen and meet other eligibility requirements./

/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. All candidates must undergo an enhanced background check and comply with all applicable information handling rules./

/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: Risk Analyst, Senior I

Location: MA-Boston

Requisition ID: 268458

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