Company

Federal Reserve Bank of BostonAs an employee of the Federal Reserve Bank of Boston (FRBB), 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 supporting the supervision of financial institutions 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.

Overview of Team/ Function:

The SRC Partners (SRCP) Unit in the Supervision, Regulation and Credit Department of the FRBB has an opening for a Business Analyst/Senior Business Analyst I to support Consumer Compliance examination support activities and department quality management and business process improvement initiatives. The SRCP Unit is responsible for supporting the department’s budget and finance processes, learning and development, quality management, information technology, time tracking, records management, conflicts of interest, and administrative support.

The Business Analyst/Senior Business Analyst I will support the Consumer Compliance examination team with communications to financial institutions, implementation of the common examination platform (OASiS), and quality management responsibilities. Specifically, the role will process specific Consumer Compliance examination documentation and ensure they are captured in the appropriate record repository and participate in activities needed to implement OASiS to examination units within the department. The role will also identify, measure, and assess department and business line risks to inform the risk assessment and help execute a risk-based schedule of quality assurance reviews to evaluate the effectiveness of controls and procedures and compliance with regulatory and System requirements pertaining to SRC products and processes, risk management and administrative functions, and quality management guideline expectations. The position will also play a role in helping to identify business process improvement opportunities across the department and consult on improvement initiatives. The individual will be exposed to all SRC business lines and the applicable policy guidance letters, providing an opportunity to broaden supervisory knowledge across multiple disciplines and will work with stakeholders at all levels in the department and with peers across the Bank and the Federal Reserve System.

This position may be filled at either level based on the candidate’s qualifications as determined by the department.

Responsibilities:

• Distribute Consumer Compliance examination/supervisory documents to institutions and upload to the appropriate repositories within the prescribed timeframe.
• Participate in testing, troubleshooting, and training users in the common examination platform (OASiS); make connections to ensure the needs of various department functions are addressed in OASiS.
• Lead or participate in quality assurance reviews to assess the quality of work products and business processes and identify systemic issues and/or best practices, including:
  • Planning reviews by developing the project scope, selecting a sample for evaluation, determining the process to complete the review objectives, and maintaining the project schedule
  • Conducting detailed reviews of documentation, such as procedures and written work products, and interviewing key stakeholders to determine whether business areas are meeting established requirements
  • Communicating findings and well-supported evaluations through written reports and verbal presentations to management

• With minimal supervision, analyze and synthesize complex/moderately complex business data from various sources to assess compliance with policies/guidance; identify trends and underlying issues, effective practices, and areas for improvement; and communicate findings to stakeholders at various levels.
• Lead or participate in risk assessment of department functions, and determine implications of changes to policies, programs, requirements, and procedures on the risk level.
• Interact effectively with all organizational levels, and with some or limited oversight, present both orally and in written form on complex/moderately complex business matters to internal stakeholders, System colleagues, and the Board of Governors.
• Participate in the System’s Quality Assurance Community of Practice, including workgroups and System-wide quality assurance reviews.
• Oversee complex/moderately complex projects, exhibit flexibility and ability to support multiple projects and initiatives at the same time.

Qualifications:

• Master's degree in Economics, Finance, Business, or a related discipline or equivalent.
• 2-3 years of job-related analytical work or regulatory experience.
• Working knowledge of, and ability to interpret, supervision and regulation guidance and familiarity with bank examination processes is desirable. Background in process improvement methodologies and tools is a plus.
• Excellent written and verbal communications skills, including the ability to communicate information to audiences at multiple levels.
• Strong analytical skills with demonstrated ability to gather, analyze, synthesize, identify patterns and root cause, and communicate information.
• Flexible and able to adapt to changing priorities.
• Ability to work with stakeholders at all levels of the organization.

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.

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.

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.

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