Credit Risk Specialist, Large Bank Supervision Cross Portfolio Exam Team ​

Company

Federal Reserve Bank of Boston

As 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. The individual is expected to reside in the 1st District unless you were given an exception. Travel would be required for this role.

Credit Risk Specialist – Large Bank Supervision Cross Portfolio Exam Team
 

Description of Role:

The Credit Risk Specialist participates in reviews and examinations that evaluate the effectiveness of credit risk management practices across a range of capital markets risk dimensions and businesses areas for multiple large financial institutions under Federal Reserve supervisory authority. As a member of our Cross Portfolio Exam Team, you will assess credit risks and the risk management programs of multiple institutions through participation in on-site examinations and regular monitoring practices of business activities to ensure they operate in a sound manner, and comply with applicable banking laws, regulations, and policy statements. You will also share knowledge with local and System peers, being a valuable team member by holding yourself accountable and being receptive to performance feedback and the divergent views from others.
 

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

You will report to the Cross Portfolio Exam Manager.

Responsibilities:

• Lead the oversight of credit risks at the largest institutions. Maintain liaisons with other system risk specialists, Dedicated Supervisory Team staff, institution management, and other regulatory agencies.
• Lead or assist in the development of firm risk assessments and supervisory strategies, and the vetting of examination scopes and findings. Provide briefings to senior Federal Reserve staff and others in the supervisory community.
• Lead or participate in targeted reviews, examinations, and or/special projects in credit risk management.   Demonstrates strong judgment and well-reasoned decision making in situations that may involve highly complex issues, public scrutiny, market reactions, and potentially adversarial circumstances.
• Be a team and System resource by leading or participating on high-level projects, workgroups, and strategic projects. Contribute to the understanding of latest risk, risk management practices and changes in policies, procedures, tools or guidance on a System basis.
• Prepare informative, well-supported supervisory products and work papers, on complex and problematic supervisory findings, including required actions to senior management and boards of directors.
• Prepare and deliver written analyses and presentations on firm specific as well as broader industry trends or emerging risks.
• Evaluate developments impacting firms’ risk profile through analysis of internal risk management reports and interactions with institution management. Support an overall assessment of a firm’s credit risk profile.
• Identify emerging institutional, regional, economic, and industry issues and their potential impact. Maintain current awareness of relevant regulations, laws, issues, trends and ongoing developments in risk specialty areas and in the broader financial services industry. 
• Maintain expertise in credit risk practices as well as supervisory expectations and industry practices in those areas.

Education and Experience:

• Bachelor’s degree is required.
• 10+ years of commensurate financial industry or regulatory work experience.

Desirable Knowledge and Skills:

• Advanced knowledge of risk management programs, measurement tools, models, control frameworks, and risk indicators used to make