Market Risk Analyst ; entry-level

Position Summary

This position has two (2) openings: one role will report to the Manager of Market Valuation, and the other will report to the Manager of Income Simulation and Liquidity Risk. The Bank does not sponsor employment for entry-level roles.

The Market Risk Management Team is responsible for the measurement, reporting and analysis of the Bank’s exposures to interest rates and other factors affecting market value and projected earnings.

The Market Risk Analyst I is responsible for utilizing the Bank's market risk analysis models in achieving the team’s objectives. In addition, the Analyst is accountable for generating timely reports and analyses for use by internal management, the Bank's Board of Directors, external and internal auditors, and the Federal Housing Finance Agency. The incumbent is responsible for ensuring the integrity of the risk analysis models’ databases and assumptions, and for producing quality, representative assessments of the Bank’s risk exposure in its balance sheet, portfolios, and transactions.

The Analyst I is also charged with the compilation of market, transactional, and financial statement data to create appropriate processing environments in the Bank’s risk analysis systems and may provide input on a variety of key drivers of the models, including macro‑economic research related to the economy and the housing market, statistical analytic methodologies, back testing and benchmarking, etc. The incumbent is also responsible for documenting procedures and maintaining controls to guarantee the continuous availability of accurate and timely financial information.

The ideal candidate will be a self‑starter with a financial and/or quantitative background. Solid interpersonal skills, coupled with effective communication techniques, must be demonstrated, along with the ability to meet competing deadlines and a thirst for learning.

This role will have a hybrid work schedule in our Boston office in accordance with the Bank’s Hybrid Work Program. More time will be expected in the office to support onboarding initially.

The anticipated base pay range for this role is $62,050 - $94,900. This role is classified as non-exempt.

• Update risk analysis models on the appropriate frequency, including but not limited to underlying assumptions and transactional attributes, application of existing data management routines, and incorporation of current economic and market trends
• Generate representative assessments of the Bank’s risk exposure in its balance sheet, portfolios, counter parties, or specific transactions through modeling the impact of credit, economic, and/or market assumptions and resultant impacts on the Bank’s risk positions
• Create baseline and stress case results for the Bank’s market risk and credit risk forecasts
• Prepare ad hoc and/or formalized modeling analysis of transaction level risk exposure including, but not limited to, hedge effectiveness, counter party and collateral sufficiency, and pro forma asset and liability transactions
• Provide critical analysis of modeling results for purposes of internal validation and explaining risk positions to senior analysts and management when necessary
• Submit all reports requested by the appropriate external and internal parties on a timely basis, in the appropriate format, in consultation with, and after review by, senior analysts and functional management
• Provide quantitative and analytical support to senior analysts and functional management
• Perform back testing as required on the Bank’s portfolio to determine modeling reasonableness
• Collaborate and support in the preparation and testing processes for all pre‑payment and risk model upgrades and conversions
• Other duties, as assigned

Education

• A four‑year degree in finance, accounting, economics, or quantitative discipline required. Graduate degree and/or CFA program or equivalent combination of education and experience is a plus

Experience

• 1-3 years prior experience in the Banking/Financial Services industry with preferred experience in risk modeling/analysis
• Preferred experience with database query and reporting tools such as…