Federal Reserve Bank of Boston
Risk Specialist, Senior
Federal Reserve Bank of Boston, Boston, Massachusetts, us, 02298
Company
Federal Reserve Bank of Boston Risk Specialist, Senior
The Federal Reserve Bank of Boston has an opening for a team-oriented, experienced Senior Risk Specialist to join the LISCC (Large Institution Supervision Coordinating Committee) Unit as a member of the LISCC Capital Program. The LISCC supervision program is the Federal Reserve’s national supervisory program for the nation’s largest most systemic financial institutions. The program is implemented by hundreds of staff from multiple Reserve Banks and the Board. The LISCC Capital teams oversee the supervisory work including the Federal Reserve System’s annual Comprehensive Capital Analysis and Review (CCAR), exams and analytic work covering a range of business activity for large and complex banking organizations.
You will be expected to develop and/or maintain an understanding of interest rate risk (IRR) management, securities risk management, and stress testing. You will analyze regulatory and financial data and evaluate trends and developments across the LISCC firms and the banking industry from a variety of sources, including published reports, databases, and firms’ internal management reports. You will also participate on bank examinations, including CCAR, which may involve assessing investment securities loss projections and interest rate risk (IRR) management practices.
The position and job description posted is for a Senior Risk Specialist; however, candidates will be placed in an appropriate level within the Specialist job family based on the extent of their experience.
This job is eligible for a hybrid schedule with some on-site work expected. The individual is expected to reside in the 1st District unless you were given an exception. Travel, including some out-of-district, is expected for this role. Responsibilities:
Participate and/or lead in CCAR and other examination efforts. Prepare clear and concise written conclusions and recommendations concerning highly complex subject matter. Analyze trends and new issues related to IRR, securities, and financial risk management practices across LISCC firms. Independently create analysis, visualizations, reports, and other correspondence for internal stakeholders. Maintain coverage of firms or business areas, as required. Develop collaborative working relationships and networks throughout the LISCC Capital Program including with the dedicated supervisory teams, other horizontal evaluation teams and with other Reserve Banks, and the Board of Governors. Maintain advanced knowledge of relevant regulations, laws, issues, trends and ongoing developments in the financial services industry. Qualifications:
Bachelor’s degree required, with a concentration in finance, accounting or economics is preferred. Advanced degree and/or relevant industry certifications (CFA, CPA, CIA, or CRMA) are a plus. 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 either 10 years of commensurate financial industry or regulatory work experience or a Bank Commission plus 6 years of work experience post commissioning. Expertise in financial institution practices regarding at least one of the following: analysis of revenue and balance sheet trends and forecasts; stress testing; and capital constraints and allocation; asset and liability management (ALM); securities and IRR (including analysis of other comprehensive income (OCI) and associated loss forecasting). Demonstrated effective written and verbal communication skills. Ability to communicate technical topics in simple, concise terms. Capability to set priorities and meet changing priorities. 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.
As a condition of employment, all Federal Reserve Bank of Boston employees must comply with the Bank's ethics rules, which generally prohibit employees, their spouses/domestic partners, and minor children from owning financial interests – such as stocks or bonds – from banks, savings associations, and systemically important financial institutions or their affiliates, such as bank holding companies or savings and loan holding companies. If you, your spouse or domestic partner, or your minor child own such assets and would be unwilling or unable to divest them if you were to accept a job offer, you should raise this issue with our recruitment team. Applicants should review the
Bank's Employee Code of Conduct
to ensure compliance with conflict of interest rules and personal investment restrictions.
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.
For this job, any offer of employment is contingent upon successfully passing a two-phase security screening. The first phase consists of the satisfactory completion of a physical examination (including a drug screening), reference checks, and a security investigation consisting of credit and criminal history checks.
The second phase, which might not be complete until after you begin working at the Reserve Bank, is an additional risk-based security screening determined by the risk rating of the position. Depending upon the sensitivity of the position, this phase may include, and is not limited to, work and residency eligibility verification, and personal interviews with the candidate, references, and prior employers.
All applicants must have been a US Citizen or a permanent resident who also resided in the United States for at least three (3) years.
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. 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. Privacy Notice
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Federal Reserve Bank of Boston Risk Specialist, Senior
The Federal Reserve Bank of Boston has an opening for a team-oriented, experienced Senior Risk Specialist to join the LISCC (Large Institution Supervision Coordinating Committee) Unit as a member of the LISCC Capital Program. The LISCC supervision program is the Federal Reserve’s national supervisory program for the nation’s largest most systemic financial institutions. The program is implemented by hundreds of staff from multiple Reserve Banks and the Board. The LISCC Capital teams oversee the supervisory work including the Federal Reserve System’s annual Comprehensive Capital Analysis and Review (CCAR), exams and analytic work covering a range of business activity for large and complex banking organizations.
You will be expected to develop and/or maintain an understanding of interest rate risk (IRR) management, securities risk management, and stress testing. You will analyze regulatory and financial data and evaluate trends and developments across the LISCC firms and the banking industry from a variety of sources, including published reports, databases, and firms’ internal management reports. You will also participate on bank examinations, including CCAR, which may involve assessing investment securities loss projections and interest rate risk (IRR) management practices.
The position and job description posted is for a Senior Risk Specialist; however, candidates will be placed in an appropriate level within the Specialist job family based on the extent of their experience.
This job is eligible for a hybrid schedule with some on-site work expected. The individual is expected to reside in the 1st District unless you were given an exception. Travel, including some out-of-district, is expected for this role. Responsibilities:
Participate and/or lead in CCAR and other examination efforts. Prepare clear and concise written conclusions and recommendations concerning highly complex subject matter. Analyze trends and new issues related to IRR, securities, and financial risk management practices across LISCC firms. Independently create analysis, visualizations, reports, and other correspondence for internal stakeholders. Maintain coverage of firms or business areas, as required. Develop collaborative working relationships and networks throughout the LISCC Capital Program including with the dedicated supervisory teams, other horizontal evaluation teams and with other Reserve Banks, and the Board of Governors. Maintain advanced knowledge of relevant regulations, laws, issues, trends and ongoing developments in the financial services industry. Qualifications:
Bachelor’s degree required, with a concentration in finance, accounting or economics is preferred. Advanced degree and/or relevant industry certifications (CFA, CPA, CIA, or CRMA) are a plus. 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 either 10 years of commensurate financial industry or regulatory work experience or a Bank Commission plus 6 years of work experience post commissioning. Expertise in financial institution practices regarding at least one of the following: analysis of revenue and balance sheet trends and forecasts; stress testing; and capital constraints and allocation; asset and liability management (ALM); securities and IRR (including analysis of other comprehensive income (OCI) and associated loss forecasting). Demonstrated effective written and verbal communication skills. Ability to communicate technical topics in simple, concise terms. Capability to set priorities and meet changing priorities. 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.
As a condition of employment, all Federal Reserve Bank of Boston employees must comply with the Bank's ethics rules, which generally prohibit employees, their spouses/domestic partners, and minor children from owning financial interests – such as stocks or bonds – from banks, savings associations, and systemically important financial institutions or their affiliates, such as bank holding companies or savings and loan holding companies. If you, your spouse or domestic partner, or your minor child own such assets and would be unwilling or unable to divest them if you were to accept a job offer, you should raise this issue with our recruitment team. Applicants should review the
Bank's Employee Code of Conduct
to ensure compliance with conflict of interest rules and personal investment restrictions.
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.
For this job, any offer of employment is contingent upon successfully passing a two-phase security screening. The first phase consists of the satisfactory completion of a physical examination (including a drug screening), reference checks, and a security investigation consisting of credit and criminal history checks.
The second phase, which might not be complete until after you begin working at the Reserve Bank, is an additional risk-based security screening determined by the risk rating of the position. Depending upon the sensitivity of the position, this phase may include, and is not limited to, work and residency eligibility verification, and personal interviews with the candidate, references, and prior employers.
All applicants must have been a US Citizen or a permanent resident who also resided in the United States for at least three (3) years.
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. 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. Privacy Notice
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