Quantitative Risk Analyst II/III

1 week ago

Philadelphia, Pennsylvania, United States Federal Reserve Bank of Philadelphia Full time
CompanyFederal Reserve Bank of Philadelphia
The Federal Reserve Bank of Philadelphia is one of the 12 regional Reserve Banks that, along with the Board of Governors in Washington, D.C., comprise the Federal Reserve System. This institution plays a crucial role in shaping and executing monetary policy, overseeing banks and bank holding companies, and delivering financial services to depository institutions and the federal government. The Bank serves the regions of eastern and central Pennsylvania, southern New Jersey, and Delaware.

Position Overview:The Financial Monitoring Group (FMG) within the Supervision, Regulation and Credit (SRC) department is seeking a dedicated quantitative analyst to aid in the evaluation of consumer credit risk at major banking institutions. The ideal candidate will possess a keen interest in consumer credit risk, strong analytical skills to interpret extensive datasets, and the capability to convey insights derived from data. Proficiency in data visualization tools and effective communication skills are advantageous.

FMG operates under the Risk Assessment, Data Analysis and Research (RADAR) group in SRC, which oversees the largest repository of U.S. consumer finance and securities market data. The group utilizes confidential supervisory data to detect emerging trends in consumer credit, supporting the supervision of large banks. FMG is also responsible for producing a public quarterly narrative report and analyzing trends in credit card and mortgage activities of large banks. Furthermore, FMG provides quantitative support for various Federal Reserve System initiatives, including the Comprehensive Capital Analysis and Review (CCAR) and the Dodd-Frank Stress Test (DFAST).

Key Responsibilities:
  • Engage in the qualitative assessment of industry models as part of the CCAR process.
  • Assist in analyzing consumer credit by monitoring key variables to identify potential risks for bank examiners and related personnel.
  • Collaborate with senior analysts on reports, including data collection, analysis, report writing, and presenting findings.
  • Participate in projects of moderate to high complexity within the Bank and department.
  • Exhibit effective SRC Core Competency skills relevant to the position.
  • Undertake additional related tasks as assigned.
  • Contribute to departmental and Bank-wide quality initiatives.
  • Adhere to all relevant information security policies and practices.

Qualifications:

Education and Experience:

  • Bachelor's degree in a quantitative field such as economics, finance, or statistics.
  • A minimum of three years of relevant experience in banking or finance is required.
  • An advanced degree in a quantitative discipline is preferred.
  • Experience may be supplemented with advanced degrees in relevant fields.

Knowledge and Skills:

  • Strong written and verbal communication skills, capable of presenting complex supervisory matters effectively.
  • Analytical and problem-solving abilities, with experience in root-cause analysis.
  • Proficient in data collection and analysis to track performance and identify emerging risks.
  • Experience with statistical software such as R, Python, SAS, or Tableau is preferred.
  • Strong interpersonal skills, with the ability to lead teams and resolve complex issues.
  • Effective time management skills, able to manage complex supervisory issues.
  • Self-motivated with the ability to work independently under moderate supervision.

Additional Requirements:

Applicants must provide work authorization to demonstrate eligibility to work in the United States. Candidates must be U.S. Citizens, U.S. Nationals, or hold a permanent resident/green card with intent to become a U.S. Citizen.

Note: This document outlines the general nature and level of work performed in this position. It is not an exhaustive list of all duties, responsibilities, and qualifications required for this role. Responsibilities may vary, and additional duties may be assigned as necessary.

Salary Grade: 11/13. The final salary will be determined based on the applicant's experience and qualifications.

Benefits:

  • Comprehensive medical, dental, and vision insurance options.
  • 401k plan with employer matching.
  • Employer-funded pension plan.
  • Paid vacation, sick leave, and holidays.
  • Flexible spending accounts and healthcare spending accounts.
  • Flexible work schedule available in most departments.
  • Life insurance and long-term disability insurance.
  • Tuition reimbursement for undergraduate and graduate studies.
  • Parental leave.
  • Access to a 24/7 fitness center and additional convenience benefits.

The Federal Reserve Bank of Philadelphia is committed to diversity, equity, and inclusion in the workplace and seeks to recruit a diverse candidate pool.

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