Lead Credit Risk Management Specialist
Federal Reserve Bank of Minneapolis
CompanyFederal Reserve Bank of PhiladelphiaThe 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.
A Lead CRM Specialist directs and coordinates other analysts' local and System activities, supports analysts in developing goals, identifies professional development opportunities for analysts, and provides input in analysts' performance reviews. Gathers, analyzes, and interprets complex data and conducts specialized research on topics concerning the discount window function, collateral management, and depository institution (DI) risk management, including payments system risk and reserves administration. Prepares and presents accurate and comprehensive conclusions, recommendations, and related reports. Briefs and advises SRC department management on identified issues. Leads or actively participates on System projects or groups under SCRM or CORA. Performs complex analyses supporting department, Bank, and/or System objectives. May prepare and deliver presentations to outside audiences.
What You Will Do:
- Directs and coordinates activities of other analysts and contributes to analysts' professional development and performance reviews.
- Leads or actively participates on System-related projects or task forces. Coordinate’s research and project work with other Reserve Bank departments and/or System Credit and Risk Management functions and participants. Leads strategic initiatives for the unit through development and implementation.
- Independently plans, conducts and directs research on topics concerning Reserve Bank lending and collateral policies and valuation, payments systems, financial markets, DI risk management, banking, and regulatory proposals. Interprets and shares knowledge with management and staff regarding new laws, regulations, and policies. Guide’s implementation, as warranted. Participates in industry events and maintains awareness of emerging issues, trends, and developments in the individual's field of expertise.
- Prepares oral presentations and written reports as well as papers for System committees/publication. Responds to in-house and public requests for information on credit/discount, financial, regulatory, and other subjects. Fulfills job duties and responsibilities in conformance with sound safety practices. Demonstrates effective SRC Core Competency skills for grade and position. Performs other related duties as assigned.
What You Have:
Education and Experience:
- Bachelor’s degree: accounting, finance, economics, or equivalent related work experience. Minimum of ten years of experience in banking, finance-related field, banking supervision, or comparable experience.
Knowledge and Skills:
- Advanced knowledge of risk management principles, commercial and consumer lending, or fixed-income securities market. Possesses an understanding of banking regulations.
- Advanced written, oral, and interpersonal communications skills. Independently, presents both orally and in writing, findings and assessments concerning highly complex supervisory matters or institutions; prepares and presents information and responses to highly complex inquiries; demonstrates the ability to manage the communication process; actively engages in transferring technical knowledge; diffuses conflict and builds consensus.
- Demonstrates expert-level analytical and problem solving, planning, and process management skills. Ability to conduct analysis with statistical programming packages (i.e., SAS, STATA, SQL); establish direct and indirect causes of problems of unknown origin; organizes data and information in a manner that effectively communicates issues; identifies underlying issues or problems and recognizes symptoms that indicate more severe problems or issues.
- Lead and participate effectively on a team; leads complex and diverse team efforts by virtue of both technical expertise and leadership/skills of influence; draws on experience to resolve highly complex issues.
- Proficiency in standard word processing, spreadsheet, and database software (i.e., Tableau) and presentation applications.
- Travel up to 15% working locations other than normal office environment (i.e., depository institution, other Reserve Banks).
- Valid Driver's License.
- Must be a U.S. Citizen, U.S. National, or hold a permanent resident/green card with intent to become a U.S. Citizen.
The salary grade for this position is: 16.
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…
- The Federal Reserve Bank of Philadelphia believes that diversity, equity and inclusion among our employees is essential to our success as an organization, and we want to recruit, develop and retain the most accomplished people from a diverse candidate pool. To support a workplace culture of belonging, we offer eight employee resource groups (ERGs) and a 100 percent rating on the Human Rights Campaign (HRC) Corporate Equality Index. The Federal Reserve Bank of Philadelphia is proud to be an equal opportunity workplace.
- We have eight employee resource groups (ERGs) to support a diverse workforce. Abilities (supporting disabilities and allies), African Heritage, Asian-Pacific, Freedom (supporting LQBTQ+ and allies), Talent Forward (supporting career growth), Women United, Working Families and Veterans. ERGs are open to all employees.
- We will ensure that individuals with disabilities are provided reasonable accommodations to participate in the job application or interview process, to perform essential job responsibilities, and to receive other benefits and privileges of employment.
- All Federal Reserve Bank of Philadelphia employees must comply with the Bank's ethics rules, which generally prohibit employees, their spouses/domestic partners, and minor children from owning securities, such as stock, of banks or savings associations or their affiliates, such as bank holding companies and savings and loan holding companies. If you or your spouse/domestic partner or minor child own such securities and would not be willing or able to divest them if you accepted an offer of Bank employment, you should raise this issue with the Recruiter for this posting, who can provide you contact information for our ethics officer if necessary. You should review the Bank's Employee Code of Conduct to ensure compliance with conflict of interest rules and personal investment restrictions.
- Background investigations and drug testing are required for all new hires as a condition of employment, after the job offer is made. Candidates for positions deemed as "safety sensitive" will also be screened for the presence of marijuana. Employment may not begin until the Bank accepts the results of the background investigation.
- All employees 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.
- 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 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 permanent residents must sign a declaration of intent to become a U.S. citizen when eligible to do so and pursue a path to citizenship.
- The above statements are intended to describe the general nature, level of work and the requirements of this position. They are not intended to be an exhaustive list of all responsibilities 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.
- This is not a 100% remote opportunity. You will be available to work on-site in at least a hybrid capacity.
- Learn more about the Philly Fed and its culture. Learn more about working for the Philly Fed.
Full Time / Part TimeFull time
Regular / TemporaryRegular
Job Exempt (Yes / No)Yes
Job CategoryBank Examination
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.