Senior Risk Analyst (Maintenance)

Company

Federal Reserve Bank of Boston

Senior Risk Analyst

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 an Analyst/Senior Risk Analyst. The CRM Unit contributes to FRBB's mission to promote sound growth and financial stability in New England and the nation by effectively 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 mitigate the risk posed by those that pose heightened risk to the Reserve Bank and/or the financial industry, and coordinating DI failures; and (ii) ensuring 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.

Staff in this position are responsible for performing more complex analyses and compliance work in support of CRM strategic initiatives, including Reserve Bank counterparty credit risk management, lending activities, and/or 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.

Principal Accountabilities:

• Produce well supported risk analysis that involves independently synthesizing multiple sources of information to assess financial/safety and soundness, systemic, legal and reputational risks for First District depository institutions.
• Identify emerging issues and trends in external market factors, analyze relevant facts and events driving more complex problems, assess the potential impact on various dimensions of credit risk, applying an integrated risk management approach, and effectively communicate issues, trends, and associated risks.

• Develop and maintain an advanced understanding of CRM policies, processes, and procedures, as well as the relevant credit and legal risk issues, and brief others on related developments in the banking industry.
• Analyze legal issues related to lending agreements and the perfection of security interests in pledged loans and securities under the Uniform Commercial Code, consulting in-house legal counsel as necessary.
• Manage projects effectively where guidance is unclear, adjusting quickly to new and different priorities, including adjusting and realigning scope, assignments, deliverables, and deadlines.
• Routinely interact with internal and System-level colleagues, Reserve Bank management and external contacts, including senior management of banking institutions.
• Participate in cross-functional Department or System-level initiatives.

Knowledge and Experience

• Knowledge and experience normally acquired through, or equivalent to, the completion of a Master's degree in Finance, Economics or a related discipline, and at least 2 years of job-related bank financial analysis and/or bank compliance experience.

Key Competencies

• Strong critical thinking traits, including analytical, problem solving, and decision-making capabilities when guidance is unclear. Ability to influence others and build relationships with peers in other Supervision, Regulation and Credit units, other Reserve Banks and the Board.

• Demonstrated oral and written communications skills, including ability to develop tailored, concise, and effective oral and written correspondence for both internal and external audiences.

• Ability to effectively multi-task, prioritize, and meet competing deadlines, and strong attention to detail.

• Strong team orientation.

• Commitment to furthering a diverse and inclusive work environment.

• Awareness of policies, practices, trends, and technologies affecting the banking industry generally, and understanding of the implications of changing business and market conditions.

• Thinking outside the box to develop creative solutions to emerging problems.

• Understanding functional area data sources and competently using established tools, Microsoft Excel, and other advanced tools as appropriate to analyze the information.

This position requires access to confidential supervisory information, access to which is limited to "Protected Individuals" as defined by regulation of the Board of Governors of the Federal Reserve System. Protected Individuals include, but are not limited to, U.S. citizens, U.S. nationals, and lawful permanent resident aliens (also known as "green card holders") who are eligible for and seeking United States citizenship within the requisite timeframes.

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

Yes

Job Category

Work Shift

First (United States of America)

The Federal Reserve Banks believe that diversity and inclusion among our employees is critical to our success as an organization, and we seek to recruit, develop and retain the most talented people from a diverse candidate pool. The Federal Reserve Banks are committed to equal employment opportunity for employees and job applicants in compliance with applicable law and to an environment where employees are valued for their differences.

Always verify and apply to jobs on Federal Reserve System Careers (https://rb.wd5.myworkdayjobs.com/FRS) or through verified Federal Reserve Bank social media channels.

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