Posted in Installation - Maint - Repair about 2 hours ago.
Type: Full-Time
Location: Boston, Massachusetts
The Federal Reserve Bank of Boston has an opening for a team-oriented, experienced Risk Specialist to join the LISCC (Large Institution Supervision Coordinating Committee) Unit as a member of the LISCC Capital team. The LISCC supervision program is the Federal Reserve’s national supervisory program for the nation’s largest most systemic financial institutions. The program is implemented by hundreds of staff from multiple Reserve Banks and the Board of Governors. The LISCC Capital teams oversee supervisory work including the Federal Reserve System’s annual Comprehensive Capital Analysis and Review (CCAR), exams, and monitoring work covering a range of business activity for large and complex banking organizations.
A firm’s processes for managing and allocating its capital resources are critical to its financial strength and resiliency, and to the stability and effective functioning of the U.S. financial system. As such, you will be expected to develop and/or maintain a high level of understanding of regulatory capital rules and regulations, including the mandatory elements of the capital plan rule, international capital standards, and applicable supervisory guidance. You will also be expected to understand firms’ approaches to revenue and expense forecasting process and associated governance and controls. With some oversight, you will conduct research, maintain and analyze regulatory and other financial data, and evaluate performance trends and developments across the LISCC firms and the banking industry from a variety of sources including published reports, databases, and firms’ management information. You will participate in examination work which will involve assessing LISCC firms’ capital management strategies and positions, including financial planning and risk management activities that inform key capital decisions at the bank holding company (BHC) level. You will provide high-quality supervision through active dialogue with the firm(s), examinations, ongoing monitoring, horizontal activities, and special projects. You will actively collaborate with, and support, the LISCC Capital program as well colleagues across the System.
This job is eligible for a hybrid schedule with on-site work and up to 25% travel expected.
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.
Responsibilities:
Knowledge and Experience:
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.
For this job, any offer of employment is contingent upon successfully passing a two-phase security screening. The first phase consists of the satisfactory completion of a physical examination (including a drug screening), reference checks, and a security investigation consisting of credit and criminal history checks.
The second phase, which might not be complete until after you begin working at the Reserve Bank, is an additional risk-based security screening determined by the risk rating of the position. Depending upon the sensitivity of the position, this phase may include, and is not limited to, work and residency eligibility verification, and personal interviews with the candidate, references, and prior employers.
All applicants must have been a US Citizen or a permanent resident who also resided in the United States for at least three (3) years.
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.
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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