Risk Manager 2

3 weeks ago


Boston, United States Federal Reserve Bank Full time

Company Federal Reserve Bank of Boston - Risk Manager 2 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. Always verify and apply to jobs on Federal Reserve Bank of Boston Careers or through verified Federal Reserve Bank social media channels. DESCRIPTION OF JOB DUTIES The Credit Risk Management (CRM) Unit of the Supervision, Regulation, and Credit Department of the Federal Reserve Bank of Boston (FRBB) has an opening for a Risk Manager to oversee System and local credit risk management policy initiatives. The CRM Unit contributes to FRBB’s mission to promote sound growth and financial stability in New England and the nation by effectively serving as a source of liquidity to depository institutions (DIs) by routinely extending overnight credit to qualifying DIs through the Discount Window, providing emergency credit to the financial system during times of market stress, and administering the Board of Governors’ Payment System Risk policy governing the use of intraday credit. The CRM Unit manages the credit risk posed by intraday and overnight credit exposure by monitoring the condition of DIs, taking actions to mitigate the risk posed by those that pose heightened risk to the Reserve Bank and/or the financial industry, and coordinating DI failures. Additionally, we ensure that all extensions of credit are secured to the satisfaction of the Reserve Bank by making ongoing determinations as to the acceptability and valuation/margining of collateral pledged by DIs. We actively lead and contribute to related System and local policy initiatives, particularly relating to collateral eligibility and valuation. SRC Managers are responsible for both day-to-day operations of a business function as well as contributions to strategic direction and planning within that function. SRC Managers serve as subject matter experts possessing broad and deep expertise in multiple complex functions. They are responsible for ensuring appropriate staffing levels, workflows and internal processes within their units, establishing unit and staff objectives, directing activities of staff, overseeing professional development and conducting performance management relative to high level, professional staff. Principal Accountabilities of the SRC Risk Manager, Credit Risk Management Unit: Lead and coordinate the efforts of the Credit Risk Management function's policy team members in achieving the goals of providing high quality contributions to System and local policy initiatives. Develop staff members as an empowered, engaged, interactive team. Evaluate and implement new System and Reserve Bank policies. Develop/maintain a strong understanding of relevant credit and legal risk issues. Demonstrate good judgment and well-reasoned decision-making. Maximize overall Department effectiveness by identifying and overseeing cross functional assignments. Promote effective communications among staff and department management. Participate in strategic planning activities. Other Accountabilities: Overnight travel of up to 10% Perform other duties as assigned. Supervision: Direct oversight of five staff members. MINIMUM QUALIFICATIONS AND ANY SPECIAL REQUIREMENTS Knowledge and Experience: Knowledge and experience normally acquired through, or equivalent to, the completion of a Master’s degree and a minimum of 12-15 years of work experience that demonstrates applicable technical knowledge or managerial skills. Key Competencies: Effectiveness in team and project management. Strong leadership and command skills. Highly developed critical thinking. Ability to independently conduct and effectively review complex analyses. Ability to set priorities and adapt to changing circumstances. Highly developed oral and written communications skills. Negotiation skills facilitating the ability to influence change. A strong track record in positions of increasing responsibility. Desirable Skills: Awareness of policies, practices, trends, technologies, and information affecting the banking industry. Ability to interpret laws and regulations. Business acumen. 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. For this job, any offer of employment is contingent upon successfully passing a two-phase security screening. 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. Job Details Full Time / Part Time: Full time Regular / Temporary: Regular Job Exempt (Yes / No): Yes Job Category: Supervisory/Management 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. #J-18808-Ljbffr


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