Associate Risk Specialist

Company
Federal Reserve Bank of Boston
As an employee of the Boston Fed, you will work to promote sound growth and financial stability in New England and the nation. You will 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 Boston Fed is one of 12 Reserve Banks and we serve all or parts of Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont. Our mission is accomplished through our Bank's values: diversity, equity and inclusion, innovation, integrity, and leadership.
A requirement of this position is that the employee must be fully vaccinated against COVID-19 or qualify for an accommodation from the Bank's vaccination policy; individuals who are unable to be vaccinated due to a medical condition or sincerely held religious belief may request an accommodation from the Bank.
This job is eligible for a hybrid schedule with some on-site work expected.
Associate Risk Specialist
Overview:
The Associate Risk Specialist will evaluate the financial condition and collaborate with risk specialists to evaluate the effectiveness of risk management practices across a range of capital markets risk dimensions and businesses, including such topics as capital planning and liquidity, for a large, globally systemic financial institution under Federal Reserve System (System) supervisory authority. As a member of a dedicated supervisory team (DST), you will conduct financial and earning analyses of the bank holding company, subsidiaries and business lines, utilizing market, financial and supervisory peer data, and key market and performance metrics. You will also participate in the evaluation of the firm's capital planning and liquidity risk management processes through on-site examinations and regular monitoring practices of business activities to ensure they operate in a safe and sound manner, and comply with applicable banking laws, regulations, and policy statements. You will also share knowledge within the DST, being a valuable member by holding yourself accountable and being receptive to feedback.
The Associate Risk Specialist will use sound analysis and reason to develop conclusions and recommendations on moderately complex to complex issues including elevating the effectiveness of management and risk management practices under review. Through your recommendations, you will negotiate, influence actions and resolve any conflict that arises. You will report to the Exam Manager.
Responsibilities:

• Participate in the oversight of capital and liquidity risk areas and business lines at supervised financial institutions. Successfully lead moderately complex to complex related examinations and/or special projects. When leading, successfully oversee assigned resources, meeting assigned deliverables and timeframes. Maintain liaisons with institution management, and with deputy/DST Leads, System risks specialists, and other regulatory agencies.
• Develop and maintain an intermediate to high-level of technical expertise in financial analytics. Prepare, with some oversight, timely, periodic financial analysis for large and complex foreign banking institution. Highlight issues for further analysis/research and initiate inquiries. Develop ad hoc analyses and contribute to key portions of supervisory products such as quarterly reviews, annual reports, risk assessments, earnings reports, , and management and board presentations.
• Engage in ad hoc and ongoing discussions in capital and liquidity risk with institution management, as well as with deputy/DST Leads, System risks specialists, and other regulatory agencies; serve as a local resource for topics related to capital and liquidity risk and leverage System relationships and/or affinity groups to inform local efforts.
• Develop insightful approaches to evaluating the firms' financial condition relative to peer companies. Devise methods to more efficiently incorporate internal data, market based surveillance products and technology into the ongoing supervisory process.
• Assist with the preparation of the supervisory strategy and risk assessment for activities and participate in the vetting of scopes and findings relating to capital and liquidity risk to enhance peer perspective and personal development.
• Develop an understanding of supervisory rating systems applied to large banks (LFI ratings).
• Build and maintain effective working relationships with firm management and System staff. Collaborate with other department units and other Reserve Bank teams in support of department and System requests/projects requiring data collection and analysis.
• Identify emerging institutional, regional, economic, and industry issues and assess their potential impact to the operating performance of the organizations. Maintain an awareness of potential changes to key accounting rules, laws and regulations, and supervisory policies and evaluate their relevance to the supervised institutions.
• This position does not directly supervise others. The ability to travel is required.

Knowledge and Experience:

• Knowledge and experience normally acquired through, or equivalent to, the completion of a Master's degree plus 7 years of commensurate financial industry or regulatory work experience. Examiner commission is a plus.
• Advanced financial analysis skills and ability to evaluate firm's financial condition.
• Foundational understanding of capital and liquidity risk and working to strengthen technical knowledge; knowledge of fundamental technical aspects, risks and/or risk management techniques and working to expand knowledge of current regulations, trends and developments.
• Strong to advanced skills in MS Office.
• Familiarity with Bloomberg, SNL Financial and other major financial databases.

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.
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.
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