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Risk Analyst, Supervisory Research and Analysis Unit (SRA)

Federal Reserve Bank of Minneapolis

Federal Reserve Bank of Minneapolis

Boston, MA, USA
Posted on Sunday, July 9, 2023

Company

Federal Reserve Bank of BostonWorking 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 support the safety, soundness, and vitality of our economic and financial systems. It is a challenge that demands the skills of a financial services professional and the intelligence of an academic—all combined with a passion for public service.

This job is eligible for a hybrid schedule with some onsite work expected.
#LI-Hybrid

The Supervisory Research and Analysis Unit (SRA) is an interdisciplinary group of professionals (economists, financial market analysts and specialists, accountants, and research assistants) that conduct research and analysis aimed at supporting the Bank’s supervision and regulation efforts. SRA staff produce research on the banking industry and broader credit markets, the impact of micro- and macroprudential policy on financial markets, and developments that could raise financial stability issues. SRA also contributes to the Federal Reserve System's efforts to identify and monitor potential financial stability risks, and routinely advises senior Bank leadership on related matters. Finally, SRA supports the Bank’s participation in several System initiatives, including the Quantitative Surveillance Group, the Dodd-Frank Act Stress Tests, and the Large Institution Supervision Coordinating Committee.

SRA has an opening for an enthusiastic and self-motivated Risk Analyst. This position supports the Stress Testing Risk Oversight function, which is responsible for implementing and executing the risk management and quality assurance frameworks for the models the Federal Reserve uses to conduct stress tests of bank portfolios under the Dodd-Fran Act and as part of ongoing bank supervision. The Risk Analyst will be responsible for conducting in-depth analyses and executing risk management and quality assurance reviews.

Principal Accountabilities

  • Perform quantitative and qualitative risk analysis focused on model risk management and quality assurance. Work with a variety data and source materials to support the identification, analysis, measurement, mitigation, and reporting on the sources and levels of risk.
  • Assist senior staff in identifying issues or concerns and in designing and implementing industry best practices related to integrated risk management within the Stress Testing program.
  • Take ownership of individual projects by preparing and delivering clear, accurate, and concise reports, presentations, and other deliverables in a timely manner under limited supervision.
  • Effectively present conclusions of complex analyses and reviews – both verbally and in writing – to a variety of audiences including Stress Testing program leadership and other Federal Reserve System colleagues.
  • Apply expertise and knowledge of risk management tools and approaches to contribute to the continuous development and improvement of the Stress Testing program’s risk management framework.

Knowledge and Experience

Knowledge and experience normally acquired through, or equivalent to, the completion of a Master’s degree in business, economics, statistics, mathematics, computer science, physics, risk management, or a related field and two years of related work experience.

  • A strong understanding of risk management principles and practices and familiarity with how these are applied is required. Direct experience in managing risk at a financial institution is preferred, but commensurate experience in fields not related to finance can be substituted.
  • Demonstrated experience in designing and executing the elements of a mature risk management framework within a large, complex organization.
  • Experience conducting any type of model, controls, or process assessments such as audits, internal reviews, examinations, or model validations.
  • Strong written and oral communication skills.
  • Ability to collect, manage, and analyze quantitative and qualitative data to identify patterns, trends, or themes.
  • Basic knowledge of capital, liquidity, credit risk, derivatives, trading, and other banking activities.

The Federal Reserve Bank of Boston 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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