The Federal Reserve Bank of Philadelphia
Quantitative Analyst II/III
The Federal Reserve Bank of Philadelphia, Phila, Pennsylvania, United States, 19117
Reference #: R-0000024972 CompanyFederal Reserve Bank of Philadelphia
The Federal Reserve Bank of Philadelphia is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. It helps formulate and implement monetary policy, supervises banks and bank and savings and loan holding companies, and provides financial services to depository institutions and the federal government. The Federal Reserve Bank of Philadelphia serves eastern and central Pennsylvania, southern New Jersey, and Delaware.
Job Summary: The Financial Monitoring Group (FMG) within the Supervision, Regulation and Credit (SRC) department of the Federal Reserve Bank of Philadelphia seeks a motivated quantitative analyst to support the monitoring of consumer credit risk at the nation's largest banks. The successful candidate will have an interest in consumer credit risk, the technical skills to analyze rich sources of data, and the ability to tell the story behind the data. In addition to good communication and time management skills, experience with large datasets or data visualization tools is a plus.
FMG is a unit of the Risk Assessment, Data Analysis and Research (RADAR) group in SRC, which manages the largest collection of U.S. consumer finance and securities markets data. FMG supports the supervision of large banks by using detailed confidential supervisory data to identify emerging trends in consumer credit. The group publishes a public quarterly narrative report and a selection of large bank credit card and mortgage trends. FMG also provides quantitative and examination support to Federal Reserve System activities and groups, including the annual Comprehensive Capital Analysis and Review (CCAR) assessment, the Dodd Frank Stress Test (DFAST), the Large Institution Supervision Coordinating Committee (LISCC), and the Large and Foreign Banking Organization (LFBO) management group.
Please note that the job description covers a broad range of quantitative analyst positions and includes items not directly relevant to this posting. The job description also details the requirements for a Quantitative Analyst III. Applicants with less experience or education may be considered for the Quantitative Analyst II position.
To be considered for the position, please submit a resume and a cover letter explaining your interest.
What You Will Do: Supports the qualitative evaluation of industry models through participation in the CCAR exercise. Contributes to the analysis of consumer credit such as tracking the performance of key variables to identify possible sources of emerging risks for bank examiners, subject matter experts, CCAR modelers or other System personnel. Collaborates with senior staff on analytical reports, including collecting and analyzing data, reviewing prior reports, writing analytical reports, and presenting results to officers and staff. Participates on Bank, department, or system projects of moderate to high complexity. Demonstrates effective SRC Core Competency skills for grade and position. Performs other related duties as assigned. Actively involved in the accomplishment of departmental and Bank-wide quality initiatives. Complies with all applicable information security policies, guidelines, and practices.
What You Have: Education and Experience: Bachelor's degree in a business or quantitative discipline, such as economics, finance, or statistics. Minimum of three years of industry experience in banking, bank supervision or a finance-related field is required. Advanced degree in a business or quantitative discipline is preferred. Job experience requirements can be supplemented with advanced degrees in a quantitative or business discipline, such as economics, finance, or statistics.
Knowledge and Skills: Intermediate written and oral communications skills. Presents findings and assessments concerning complex supervisory matters or instituti ns; demonstrates ability to discuss complex issues with any stakeholder either within or outside the Division; may assist others in their communication to achieve a consistent message, tone, style and format; diffuses conflict and builds consensus; actively engages in transferring technical knowledge; demonstrates effective use of listening skills and the ability to manage the communication process. Intermediate analytical and problem-solving skills. Uses appropriate diagnostic- and root-cause analysis skills to identify direct and indirect causes of problems of unknown origin; gathers tangible and factual evidence from many sources; recognizes symptoms that may indicate more significant problems or issues; organizes data and information in a manner that effectively communicates issues and underlying causes. Ability to collect and analyze data to track performance of key variables and identify possible sources of emerging risks within the financial sector. Experience working with and analyzing large datasets using statistical software, such as R, Python, SAS or Tableau,is preferred. Intermediate interpersonal skills. Demonstrates the ability to effectively lead a team; draws on experience to resolve complex issues; leverages strategic work relationships and networks to accomplish goals and objectives; encourages and supports other team members to develop productive work relationships. Intermediate time management skills. Identifies and assesses complex supervisory issues; able to effectively manage complex supervisory issues to achieve supervisory or organizational goals. Subject to little or no oversight in work performed. Quantitative Analysts are highly motivated individuals who are able to work under moderate supervision and interested in consumer credit or bank risk.
Other Requirements: Applicants must be able to provide work authorization to prove their eligibility to work in the United States. An applicant for employment also must be a U.S. Citizen, U.S. National, or hold a permanent resident/green card with intent to become a U.S. Citizen.
Note: This document indicates the general nature and level of work performed by employees within this position. It is not a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job. An employee's responsibilities, tasks, and duties might differ from those outlined in the job description, and other duties, as assigned, are a part of the job. The Federal Reserve Bank of Philadelphia reserves the right to modify the elements of this job description, as business needs require,
The salary grade for this position is: 11/13. Final salary and offer will be determined by the applicant's background, experience, and skills, and internal equity and alignment with market data.
We offer a great benefits package that features:
Medical (4 options), Prescription, Dental (3 options), and Vision Insurance with no waiting period
401k/Thrift Plan with generous employer match
Employer-funded Pension Plan
Paid Vacation/Sick Time & Holidays
Monthly $100 Commuter Allowance
Flexible Spending Accounts and Healthcare Spending Accounts
Flexible Work Schedule available in most departments
Life Insurance and Long Term Disability Insurance
Tuition Reimbursement (undergraduate and graduate)
Parental Leave
Free onsite 24/7 Fitness Center including training classes, Peloton bikes and locker room / shower facilities
Onsite Cafeteria & Coffee Shop
Additional Convenience Benefits, Discounts and More...
Additional Information:
The Federal Reserve Bank of Phi
The Federal Reserve Bank of Philadelphia is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. It helps formulate and implement monetary policy, supervises banks and bank and savings and loan holding companies, and provides financial services to depository institutions and the federal government. The Federal Reserve Bank of Philadelphia serves eastern and central Pennsylvania, southern New Jersey, and Delaware.
Job Summary: The Financial Monitoring Group (FMG) within the Supervision, Regulation and Credit (SRC) department of the Federal Reserve Bank of Philadelphia seeks a motivated quantitative analyst to support the monitoring of consumer credit risk at the nation's largest banks. The successful candidate will have an interest in consumer credit risk, the technical skills to analyze rich sources of data, and the ability to tell the story behind the data. In addition to good communication and time management skills, experience with large datasets or data visualization tools is a plus.
FMG is a unit of the Risk Assessment, Data Analysis and Research (RADAR) group in SRC, which manages the largest collection of U.S. consumer finance and securities markets data. FMG supports the supervision of large banks by using detailed confidential supervisory data to identify emerging trends in consumer credit. The group publishes a public quarterly narrative report and a selection of large bank credit card and mortgage trends. FMG also provides quantitative and examination support to Federal Reserve System activities and groups, including the annual Comprehensive Capital Analysis and Review (CCAR) assessment, the Dodd Frank Stress Test (DFAST), the Large Institution Supervision Coordinating Committee (LISCC), and the Large and Foreign Banking Organization (LFBO) management group.
Please note that the job description covers a broad range of quantitative analyst positions and includes items not directly relevant to this posting. The job description also details the requirements for a Quantitative Analyst III. Applicants with less experience or education may be considered for the Quantitative Analyst II position.
To be considered for the position, please submit a resume and a cover letter explaining your interest.
What You Will Do: Supports the qualitative evaluation of industry models through participation in the CCAR exercise. Contributes to the analysis of consumer credit such as tracking the performance of key variables to identify possible sources of emerging risks for bank examiners, subject matter experts, CCAR modelers or other System personnel. Collaborates with senior staff on analytical reports, including collecting and analyzing data, reviewing prior reports, writing analytical reports, and presenting results to officers and staff. Participates on Bank, department, or system projects of moderate to high complexity. Demonstrates effective SRC Core Competency skills for grade and position. Performs other related duties as assigned. Actively involved in the accomplishment of departmental and Bank-wide quality initiatives. Complies with all applicable information security policies, guidelines, and practices.
What You Have: Education and Experience: Bachelor's degree in a business or quantitative discipline, such as economics, finance, or statistics. Minimum of three years of industry experience in banking, bank supervision or a finance-related field is required. Advanced degree in a business or quantitative discipline is preferred. Job experience requirements can be supplemented with advanced degrees in a quantitative or business discipline, such as economics, finance, or statistics.
Knowledge and Skills: Intermediate written and oral communications skills. Presents findings and assessments concerning complex supervisory matters or instituti ns; demonstrates ability to discuss complex issues with any stakeholder either within or outside the Division; may assist others in their communication to achieve a consistent message, tone, style and format; diffuses conflict and builds consensus; actively engages in transferring technical knowledge; demonstrates effective use of listening skills and the ability to manage the communication process. Intermediate analytical and problem-solving skills. Uses appropriate diagnostic- and root-cause analysis skills to identify direct and indirect causes of problems of unknown origin; gathers tangible and factual evidence from many sources; recognizes symptoms that may indicate more significant problems or issues; organizes data and information in a manner that effectively communicates issues and underlying causes. Ability to collect and analyze data to track performance of key variables and identify possible sources of emerging risks within the financial sector. Experience working with and analyzing large datasets using statistical software, such as R, Python, SAS or Tableau,is preferred. Intermediate interpersonal skills. Demonstrates the ability to effectively lead a team; draws on experience to resolve complex issues; leverages strategic work relationships and networks to accomplish goals and objectives; encourages and supports other team members to develop productive work relationships. Intermediate time management skills. Identifies and assesses complex supervisory issues; able to effectively manage complex supervisory issues to achieve supervisory or organizational goals. Subject to little or no oversight in work performed. Quantitative Analysts are highly motivated individuals who are able to work under moderate supervision and interested in consumer credit or bank risk.
Other Requirements: Applicants must be able to provide work authorization to prove their eligibility to work in the United States. An applicant for employment also must be a U.S. Citizen, U.S. National, or hold a permanent resident/green card with intent to become a U.S. Citizen.
Note: This document indicates the general nature and level of work performed by employees within this position. It is not a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job. An employee's responsibilities, tasks, and duties might differ from those outlined in the job description, and other duties, as assigned, are a part of the job. The Federal Reserve Bank of Philadelphia reserves the right to modify the elements of this job description, as business needs require,
The salary grade for this position is: 11/13. Final salary and offer will be determined by the applicant's background, experience, and skills, and internal equity and alignment with market data.
We offer a great benefits package that features:
Medical (4 options), Prescription, Dental (3 options), and Vision Insurance with no waiting period
401k/Thrift Plan with generous employer match
Employer-funded Pension Plan
Paid Vacation/Sick Time & Holidays
Monthly $100 Commuter Allowance
Flexible Spending Accounts and Healthcare Spending Accounts
Flexible Work Schedule available in most departments
Life Insurance and Long Term Disability Insurance
Tuition Reimbursement (undergraduate and graduate)
Parental Leave
Free onsite 24/7 Fitness Center including training classes, Peloton bikes and locker room / shower facilities
Onsite Cafeteria & Coffee Shop
Additional Convenience Benefits, Discounts and More...
Additional Information:
The Federal Reserve Bank of Phi