Credit Management Analyst
Federal Reserve Bank of Minneapolis
CompanyFederal Reserve Bank of RichmondAt the Richmond Fed, we’re driven by our mission to strengthen the economy and our communities. We take great pride in what we do and it impacts everyday people every day.
When you join our team, you’ll become part of a culture that welcomes differences, cares about our communities, and empowers each other to lead from where we are to make things better.
Bring your passion and we’ll provide challenging and purposeful careers in a variety of fields, opportunities to grow and a wide range of benefits and perks that support your health and wealth. It’s all part of what makes #MyRichmondFed a great place to work!
About the Opportunity
The Credit Risk Management and Reserves (CRMR) unit within the Supervision, Regulation and Credit Department has an immediate opening for a Credit Management Analyst. Reporting to a Senior Manager, you will initiate, participate on, and conduct assignments primarily focused on Payment System Risk (PSR) and discount window lending activities.
The Credit Management Analyst responsibilities will include monitoring and counseling Depository Institutions (DIs) that incur daylight overdraft policy violations or overnight overdrafts in their Federal Reserve accounts and assessing fees or penalty charges when warranted. Works closely with Condition Monitoring staff to monitor the safety and soundness of DIs within the district and applies controls to Federal Reserve accounts to protect the Reserve Bank from risk in providing payment services to financially unhealthy DIs. Supports the liquidity needs of depository institutions through discount window lending programs.
What You Will Do:
- Acquire thorough knowledge of critical credit risk management related applications for payment system risk and lending activities
- Build knowledge of policies, legal requirements, business standards, and related practices for payment system risk and lending activities
- Monitor and counsel DIs that incur daylight overdraft policy violations or overnight overdrafts in their Federal Reserve accounts and assess fees or penalty charges when warranted.
- Work closely with Condition Monitoring staff to monitor the safety and soundness of DIs within the District and apply controls to Federal Reserve accounts to protect the Reserve Bank from risk in providing payment services to financially unhealthy DIs.
- Assist in the development of procedures, process analyses, and gap identification; update and maintain plans, processes, and procedures
- Promote the standardization of practices, risk mitigation, and create and execute compliance/ review programs and testing
- Provide routine and ad hoc detailed research and analysis to assess trends and respond to inquiries; analyze issues of varying complexity in order to develop recommendations to solve escalated problems
- Develop complex analyses, performance projections, statistical reports, and convert technical data into usable information for non-technical stakeholders
- Plan and execute solutions and provide consultation to Reserve Bank management, Board of Governors, and key Federal Reserve System stakeholders
- Monitor the environment for new or potential risks and evaluate implications of risks and/or changes in business lines, regulations, policies, or practices
- Participate in cross-functional team initiatives to address policy, risk or compliance issues, and process improvement projects
- 3 to 9+ years of relevant work experience
- Bachelor’s degree in finance, accounting or economics required; Master’s degree in related field (preferred)
- Experience with one or more of the following tools: R, Python, SAS, SQL or MS Excel Automation (Preferred)
- Experience ensuring accuracy and data integrity
- Attention to detail with a high level of data integrity and accuracy
- Strong oral and written communication skills
- Strong interpersonal skills and ability to work with people at all levels of the organization.
- Sound understanding of risk mitigation methodologies, processes, and procedures
Other Requirements and Considerations:
- Candidates should review the Bank’s Employee Code of Conduct to ensure compliance with conflict of interest rules and personal investment restrictions.
- Employees who work at and/or visit another Federal Reserve entity or outside business as part of their job duties are required to comply with any onsite safety and health protocols of those organizations (including, but not limited to, requirements to vaccinate or test, mask, social distance, etc.).
- 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.
- In addition, all candidates must undergo an enhanced background check and comply with all applicable information handling rules, and all non-U.S. citizens must sign a declaration of intent to become a U.S. citizen and pursue a path to citizenship.
- Under Conflict of Interest guidelines administered by the Board of Governors of the Federal Reserve System, examining personnel may not participate on an examination of a financial institution or affiliate if the examiner was employed by the financial institution or affiliate within the past 12 months.
- Please review Bank’s Employee Code of Conduct to ensure there are no major issues related to your previous employment and current financial interests (relevant sections are 5.3 and Appendix B, Parts I, II and III). FRB ethics rules generally prohibit employees and their immediate families from owning investments in banks, savings associations, or their holding companies (Section 5.3). Additionally, employees engaged in Supervision and Regulation may be subject to borrowing and deposit restrictions. These employees may need to recuse themselves from certain supervisory work based on:
- Their borrowing relationships (Appendix B Parts I.1, II.1 and II.2)
- If a financial institution employs a member of the employee’s immediate family (i.e. spouse, child, parent, or sibling) (Appendix B Part I.3 and Part II.3)
- If the individual was employed by the financial institution or affiliate within the past 12 months (Appendix B Part I.3 and II.3).
- In certain cases, the recusal may be so extensive it could materially reduce the effectiveness of the prospective employee’s job responsibilities.
- The hiring range of the Credit Risk Management – Analyst - Int is $60,600 – $83,380 annually.
- The hiring range of the Credit Risk Management – Analyst – Sr. is $79,400 – $109,230 annually.
- Salary offered will be based on the job responsibilities and the individual’s knowledge, skills, and experience as defined in the job qualifications.
Full Time / Part TimeFull time
Regular / TemporaryRegular
Job Exempt (Yes / No)Yes
Work ShiftFirst (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.