Senior Risk Specialist, Interest Rate Risk Management
Federal Reserve Bank of Boston
CompanyFederal Reserve Bank of BostonAs an employee of the Boston Fed, you will work to promote sound growth and financial stability in New England and the nation. You will contribute to communities, the region, and the nation by conducting economic research, participating in monetary policy-making, supervising certain financial institutions, providing financial services and payments, playing a leadership role in the payments industry, and supporting economic well-being in communities through a variety of efforts. The Boston Fed is one of 12 Reserve Banks and we serve all or parts of Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont. Our mission is accomplished through our Bank's values: diversity, equity and inclusion, innovation, integrity, and leadership.
This job is eligible for a hybrid schedule with some on-site work expected. This job requires up to 25% travel expected. The individual is excepted to reside in the 1st District unless you were given an exception.
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. Lastly, the level of the position will be commensurate with the skill of the individual.
- 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.
- Bachelor’s degree required, with a concentration in finance, accounting or economics is preferred.
- 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 12 years of commensurate financial industry or regulatory work experience or a Bank Commission plus 7 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; business strategy and financial planning (FP&A); RWA management; 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.
PLEASE NOTE: 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, and all non-U.S. citizens must sign a declaration of intent to become a U.S. citizen and pursue a path to citizenship.
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 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.