Credit Risk Analyst II/III

1 month ago

Cleveland, Ohio, United States Federal Reserve Bank (FRB) Full time
CompanyFederal Reserve Bank of ClevelandThe Federal Reserve Bank of Cleveland is part of the nation's central bank and we've provided many opportunities for professional growth during our history.

We've been named "One of Northeast Ohio's Best Places to Work" by North Coast 99. This prestigious award honors organizations with outstanding employment practices, including compensation, benefits, training, recruitment, retention, community services, and employee communications.

Our People Make the Difference The Federal Reserve Bank of Cleveland is seeking innovative thinkers with vision to build the framework that will carry the Bank into the future.

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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. Candidates who are not U.S. citizens or U.S. permanent residents may be eligible for the information access required for this position and sponsorship for a work visa, and subsequently for permanent residence, if they sign a declaration of intent to become a U.S. citizen and meet other eligibility requirements.

In addition, all candidates must undergo an enhanced background check and comply with all applicable information handling rules, and all non-U.S. citizens must sign a declaration of intent to become a U.S. citizen and pursue a path to citizenship.

The Credit Risk Management Department (CRM) serves as a risk management function in the Federal Reserve Bank of Cleveland's roles as a depository institution creditor and as a provider of payment and financial services, and assists with the effective implementation of monetary policy.

The Credit Analyst will support the CRM Collateral function, which is responsible for evaluating the eligibility and valuation of loan collateral pledged to the Federal Reserve's Discount Window. The analyst will assess institutions' risk management practices and compliance with the Borrower-in-Custody (BIC) program and ensure moderately complex BIC reviews are conducted consistently with established policy, procedure, and prudential risk and control requirements. The analyst will provide recommendations for mitigating risk to department and/or Bank management and support the Credit Risk Management Committee.

Essential Accountabilities

  • Ensures the daily operations of core functions are conducted consistently with established policy, procedure, and prudential risk and control requirements.
  • Participates and occasionally leads department, Bank and FR System workgroups to enhance processes or policies, responds to emerging issues and develops and maintains positive working relationships with all levels of the department, Bank, and FR System.
  • Advises and/or counsels moderately complex and/or problematic district depository institutions, researches and provides recommendations of a complex nature to internal management, other Reserve Banks, Board staff and others.
  • Reviews and assesses the level of payment system activity for moderately complex Fourth District institutions and makes recommendations to Bank management on appropriate collateral requirements to safeguard District.
  • Prepares and delivers briefings, presentations, recommendations, and other communications for key decision-makers regarding matters impacting the Discount Window, Condition Monitoring, Reserves, Payment System Risk and/or Collateral functions.
  • Performs financial analyses on the condition of moderately complex and/or problematic district depository institutions for determination of credit risk and condition considerations. Provides quantitative and qualitative recommendations to department and/or Bank management.
  • Assists with the development of analytical and editing techniques along with data extraction, including querying complex databases and viewing techniques for related data systems, to enhance data analysis, data integrity and data timeliness.
  • Analyze complex financial statements of depository institutions and reviews for liquidity analysis.
  • Performs other duties as assigned or requested.

Education and Experience

  • Associate degree in Finance, Economics, or related field and
  • Analyst II: 5+ years of related work experience required
  • Analyst III: 7+ years of related work experience required
  • Bachelor's Degree in Finance, Economics, or related field and
  • Analyst II: 3+ years of related work experience required
  • Analyst III: 5+ years of related work experience required.
  • Master's Degree in Finance, Economics, or related field and
  • Analyst II: 0-1+ years of related work experience
  • Analyst III: 3+ years of related work experience required.

Knowledge and Skills Areas

  • Advanced ability to perform independent research
  • Intermediate knowledge of regulations, procedures, and practices of credit risk
  • Intermediate knowledge of Microsoft Office
  • Advanced problem solving and analytical
  • Advanced specialized operational/technical skills
  • Advanced written and verbal communication
  • Advanced critical thinking
  • Intermediate presentation
  • Intermediate strategic thinking/planning

Physical Demands and General Working Conditions

Traditional office environment: Employees typically sit most of the day, work with a computer and may answer/respond to phone calls. Physical movement consists of walking for meetings, breaks, etc. Ability to lift items weighing approximately 20 pounds on a limited basis is required. Addendum as needed: Employees may be required to travel by car/air.

"Always verify and apply to jobs on Federal Reserve System Careers or through verified Federal Reserve Bank social media channels."

Full Time / Part TimeFull timeRegular / TemporaryRegularJob Exempt (Yes / No)YesJob CategoryCredit Risk ManagementWork ShiftFirst (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.

Always verify and apply to jobs on Federal Reserve System Careers ) or through verified Federal Reserve Bank social media channels.

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