Job description
Company
Federal Reserve Bank of Boston
Main Street Risk Analyst, Resurgence Program
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.
Federal Reserve Bank of Boston Resurgence Program and eligibility guidelines
The Federal Reserve Bank of Boston Resurgence program is the first career reentry program in the Federal Reserve Banking System. It was established in recognition of the strengths and attributes of the pool of mid-career professionals returning from extended leave or “career breaks” taken for a minimum of two years for a range of reasons. We value the career break as a time of enrichment and perspective broadening and are eager to engage with those who want to resume their careers.
The candidate for this position must have taken at least a two-year career break for reasons such as:
The candidate for this position must have taken at least a two-year career break for reasons such as:
- Starting or raising a family
- Caring for a family member
- Taking time after military service
- Military Spouse
- Political Office
- Entrepreneurial ventures
- Volunteer Work
- Continuing Education
- Managing Mental and Physical Health
- Pursuing a career change
- Periodic Consulting
- Adjunct Professor
The program is a paid 16-week program where you will be working in an actual role on a team with supportive teammate mentor/buddies, a manager who has been trained to manage relaunchers and a series of trainings and professional development events to build confidence, create camaraderie and enable you to do your best work. Subject to performance and feedback throughout the program, qualified candidates may be offered full-time employment at the Boston Fed if there is an applicable position.
Main Street Risk Analyst Job Description:
The Main Street Risk Analyst position is responsible for assisting with all risk management activities across the Main Street Lending Program, including metrics and dashboard reporting. This planning process entails building, maintaining and testing controls, risk identification, qualitative and quantitative analysis, monitoring and reporting. Assists the Risk Manager with the execution of the risk control self-assessment and key risk reporting across the Main Street Lending Program. Assists with the compilation, reporting and remediation of risk issues for the Program.
The Main Street Lending Program was designed to provide support to small and medium-sized businesses and their employees across the United States during the height of the COVID-19 pandemic by supporting the provision of credit to such businesses. The availability of additional credit was intended to help companies that were in sound financial condition prior to the onset of the pandemic maintain their operations and payroll until conditions normalize.
Cover Letter must be included with resume when you submit application.
Principal Accountabilities
1. Contribute to the execution of risk management program policies and procedures, working collaboratively with colleagues at all levels in a fast-paced environment.
2. Execute risk and control self-assessments including the evaluation and implementation of related controls. Identify risk, process and control improvement opportunities, and effective risk mitigation strategies.
3. Assist in the implementation of the Program`s control framework, including control validation or testing, oversight and completion of in-scope process documentation (e.g., narratives, flow charts, risk and control matrices, etc.) and testing of key Program controls.
4. Conduct risk monitoring, including risk tolerances, risk limits and key risk indicators.
5. Create risk reporting (risk profile, risk package, metric dashboard) and promote effective information dissemination.
6. Participate in complex ad hoc assignments, special projects, or initiatives, as needed.
Other Accountabilities
Perform other duties as assigned.
2. Execute risk and control self-assessments including the evaluation and implementation of related controls. Identify risk, process and control improvement opportunities, and effective risk mitigation strategies.
3. Assist in the implementation of the Program`s control framework, including control validation or testing, oversight and completion of in-scope process documentation (e.g., narratives, flow charts, risk and control matrices, etc.) and testing of key Program controls.
4. Conduct risk monitoring, including risk tolerances, risk limits and key risk indicators.
5. Create risk reporting (risk profile, risk package, metric dashboard) and promote effective information dissemination.
6. Participate in complex ad hoc assignments, special projects, or initiatives, as needed.
Other Accountabilities
Perform other duties as assigned.
Supervision
This position is not responsible for the direct supervision of other employees.
What You Bring
Knowledge and experience normally acquired through, or equivalent to, the completion of a
Knowledge and experience normally acquired through, or equivalent to, the completion of a
Bachelor's degree in a relevant field, e.g., business or finance and a minimum of 3-5 years of direct work-related experience.
How You Will Be Successful
- Understanding of banking organization risk management approaches is desirable.
- Demonstrated experience with risk control self-assessments preferred.
- Strong organizational, planning, and self-management skills.
- Ability to perform strong risk analysis and develop and/or deliver presentations.
- Ability to work cooperatively with all levels of staff and senior management.
- Able to effectively prioritize deliverables and due dates.
- Comfortable with ambiguity.
- Strong customer service orientation.
- Demonstrated ability to focus on the details.
- Demonstrated ability to assimilate and apply new information quickly.
- Independent thinking and decision-making ability.
- Excellent written, verbal, graphical, and interpersonal skills.
The Federal Reserve Bank of Boston is committed to a diverse 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.
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.
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.
Full Time / Part Time
Full time
Regular / Temporary
Temporary
Job Exempt (Yes / No)
Yes
Job Category
Work Shift
First (United States of America)
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.
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