Capital Markets Risk Specialist

Company

Federal Reserve Bank of Boston

Risk Specialist

This job is eligible for a hybrid schedule with some onsite work expected. The individual is expected to reside in the 1st District unless you were given an exception. Travel would be required for this role.

The Risk Specialist leads and/or participates in reviews and examinations that evaluate the effectiveness of risk management practices across a range of capital markets risk dimensions and businesses, with a focus on trading activities for a large, globally systemic financial institution under Federal Reserve supervisory authority. As a member of the dedicated supervisory team (DST), you will assess market, credit, and business risks in foreign exchange and fixed income trading activities, and the risk management programs of the institution through participation in on-site examinations and regular monitoring practices of business activities to ensure they operate in a safe and sound manner, and comply with applicable banking laws, regulations, and policy statements. You will also share knowledge within the DST, being a valuable team member by holding yourself accountable and being receptive to performance feedback and the divergent views from others.
 

The Risk Specialist will use sound analysis and reasoning to develop conclusions and recommendations on complex issues including evaluating the effectiveness of management and risk management practices under review. Through well-supported recommendations you will negotiate, influence actions and resolve any conflict that arises.  The Risk Specialist may also participate in cross-institutional reviews in your specialty area, provide leadership or coordinate assistance in support of national supervision program management.

Responsibilities:

• Lead and/or support the oversight of market, credit and business risks in foreign exchange and fixed income activities at the largest institutions.  Support supervisory activities covering broader capital market activities, including credit risk management and asset liability management.  Maintain liaisons with institution management, and with deputy/DST Leads, system risk specialists, and other regulatory agencies.
• Help prepare capital markets related-supervisory strategy and risk assessments and selectively help other team members vet scopes and findings related to their risk specialty area.
• Collaborates with deputy/DST Leads and examiners-in-charge (EICs), leading and participating in risk-focused reviews of a range of capital markets risk dimensions and businesses, with an emphasis on trading activities, and provides written conclusions and findings appropriate for inclusion in supervisory reports.
• Serves as a team and System resource by leading or participating on high-level projects, workgroups, and strategic projects. Contribute to the understanding of emerging risks, risk management practices and changes in supervision policies, procedures, tools or guidance on a System basis.
• Prepares informative, well-supported supervisory products and work papers, effectively communicating supervisory conclusions and required actions on complex topics to senior management and boards of directors.
• Maintains current awareness of relevant regulations, laws, issues, trends and ongoing developments in the broader financial services industry.
   

Education and Experience:

• A Bachelor’s degree is required, with a concentration in business management, finance, or accounting preferred.
• Knowledge and experience normally acquired through, or equivalent to, the completion of a Master's degree and a minimum of 10 years of commensurate financial industry or regulatory work experience.
• Appropriate industry certifications (CFA, CPA, CIA, or CRMA) are preferred.
   

Desirable Knowledge and Skills:

• Advanced knowledge of risk management programs, measurement tools, models, control frameworks, and risk indicators used to make decisions relating to foreign exchange derivatives and collateralized and non-collateralized fixed income products.
• Capabilities to evaluate a broad range of an institutions’ practices in capital markets risk dimensions and businesses, the risk management techniques in hedging market risk and credit and collateral management, along with independent risk and product and trade control functions applied across front, middle and back-office activities.
• Proficient technical knowledge in a specialty area (e.g. foreign exchange, fixed income and equity markets) and familiarity with credit, asset liability management, audit and internal controls.
• Professional development programs, and training and conferences in capital markets.

The Federal Reserve Bank is committed to a diverse, equitable and inclusive workplace and to provide equal employm