Quantitative Analyst II / III

Company

Federal Reserve Bank of Philadelphia

The 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.

This job description is within Quantitative Analytics job family and is aimed primarily for positions within the Financial Monitoring Group (FMG), Retail Risk Analysis (RRA), and Risk Assessment, Data Analysis and Research (RADAR) business lines; but could include anyone within Supervision Regulation and Credit that performs these tasks.

An ideal candidate must have knowledge of and be able to perform actions that are related to activities in the designated business line. The Quantitative Analyst II has a strong interest in supervisory processes, banking products and applicable laws and regulations, in addition to a basic understanding of banking risks and risk management strategies. The Quantitative Analyst II serves as a technical SME within an assigned risk area, with responsibilities that may include: evaluating trends in the banking industry, identifying factors that pose risk to the financial system, and communicating relevant findings to internal stakeholders. May support senior staff on system-wide analytical initiatives related to consumer credit, bank risk, or regulatory policies pertaining to these matters that may include: horizontal studies on bank safety and soundness, research projects, implementation of the models used for the annual Dodd Frank Act and Comprehensive Capital Analysis and Review stress tests, among others.

What You Will Do:

• Support the development or implementation of supervisory retail loss models, the data related to those models, or the qualitative evaluation of industry models through participation in the Dodd-Frank Act Stress Test (DFAST) and Comprehensive Capital Analysis and Review (CCAR) exercises.
• Assist in the analysis of consumer credit or fixed income securities such as tracking the performance of key variables to identify possible sources of emerging risks for bank examiners, subject matter experts, CCAR modelers or other System personnel.
• Work with senior staff on statistical and econometric research projects, including collecting and analyzing data, reviewing prior research, writing research reports, and presenting results to officers and staff.
• Participate on Bank, department, or system projects of moderate to high complexity. Demonstrates effective SRC Core Competency skills for grade and position. Performs other related duties as assigned.
• Actively involved in the accomplishment of departmental and Bank-wide quality initiatives.
• Comply with all applicable information security policies, guidelines, and practices.

What You Have:

Education and Experience:

• Bachelor's degree in a business or quantitative discipline, such as economics, finance or statistics is required.
• Minimum of one year of industry experience in banking, bank supervision, or a finance-related field is required.

Knowledge and Skills:

• Presents findings and assessments concerning moderate to complex matters; demonstrates ability to discuss moderate to complex issues with any stakeholder either within or outside the Division; actively engages in transferring technical knowledge; demonstrates effective ability to manage the communication process.
• Demonstrates intermediate analytical and problem-solving skills; uses appropriate diagnostic- and root-cause analysis skills to identify direct and indirect causes of problems of unknown origin; gathers tangible and factual evidence from many sources; recognizes symptoms that may indicate more significant problems or issues; organizes data and information in a manner that effectively communicates issues and underlying causes.
• Ability to collect and analyze data to track performance of key variables and identify possible sources of emerging risks within the financial sector.
• Experience working with large datasets using statistical software, such as SAS or Stata, is preferred.
• Demonstrates the ability to participate on a team; draws on experience to resolve moderate to complex issues; leverages strategic work relationships and networks to accomplish goals and objectives.
• Identifies and assesses moderate to complex issues; able to effectively manage moderate to complex issues to achieve goals. Subject to some oversight in work performed.
• Quantitative Analysts are individuals who are able