Financial Risk Specialist

Company

Federal Reserve Bank of Boston

Financial Risk Specialist

The Risk Specialist is responsible for leading and/or participating in reviews and examinations that evaluate the effectiveness of risk management practices for large financial institutions (LFI) under Federal Reserve supervisory authority. As a member of the dedicated supervisory team (DST), this individual will assess risks and the risk management programs of the institution through participation in on-site examinations and regular monitoring practices of business activities to ensure the firm operates in a safe and sound manner, and adheres to applicable banking laws, regulations, and policy statements. The Risk Specialist may also provide assistance in support of horizontal or coordinated reviews in the LFI portfolio.
 

The successful candidate will have proficient technical knowledge in financial risk areas,  namely market and interest rate risk, and, secondarily, specific subject matter expertise in liquidity, capital, and model risk. A Risk Specialist will also possess knowledge of risk management programs, measurement tools, models, control frameworks, and risk indicators utilized to make decisions on business line risks and enterprise risks for an organization. 

The position and job description posted is for a Risk Specialist; however, candidates will be placed in an appropriate level within the Specialist job family based on the extent of their experience.

This job is eligible for a hybrid schedule with some on-site work expected. The individual is expected to reside in the 1st District unless you were given an exception. Travel, including some out-of-district, is expected for this role.
 

Responsibilities:

• Collaborate with DST Lead/Deputy Leads and examiners-in-charge (EICs), lead and/or participate in risk-focused reviews of functional areas, business line activities or special projects, and provide written observations and findings appropriate for inclusion in supervisory reports.
• Assist in the preparation of the supervisory strategy and risk assessment for business line related activities and participate in the vetting of scopes and findings related to their particular risk specialty area.
• Support the assessments of the board of directors, the strength of risk management executed by the firm’s core business lines, and the adequacy of the firm’s independent risk management and controls.
• Evaluate the effectiveness of management and influence their actions through satisfactory relationship management and interpersonal skills, including effective negotiation and conflict resolution.
• Serve as a team and System resource by leading or participating on high-level projects, workgroups, and strategic initiatives. Contribute to the understanding of emerging risk, risk management practices, and changes in supervision policies, procedures, tools or guidance on a System basis.
• Demonstrate good judgment and well-reasoned decision making in situations that involve complex issues and potentially adversarial circumstances.
• Prepare informative, well-supported supervisory products and work papers, effectively communicating complex and problematic supervisory issues that require actions to be taken by the firm’s senior management and boards of directors.
• Maintain awareness of relevant regulations, laws, issues, trends, and ongoing developments in the financial services industry.
• Function as a team player while demonstrating personal accountability and openness to constructive feedback.
• Participate in out-of-district and/or in-district peer assignments to enhance peer perspective and personal development.

Education/Experience/Skills:

• 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.
• Knowledge of concepts related to market and interest rate risk management are required, and broader experience in liquidity, capital, and model risk management will be given strong consideration.
• Strong communications skills and ability to convey complex, technical topics and supervisory assessments in concise terms to multiple audience types.
• Appropriate industry certifications are preferred, but not required.

Other Accountabilities:

• Perform other duties as assigned.

Our total rewards program offers benefits that are the best fit for you at every stage of your career:

• Comprehensive healthcare options (Medical, Dental, and Vision)
• 401K match, and a fully funded pension plan
• Paid vacation and holidays; flexible work environment, healthy workflow
• Generously subsidized pub