Markets Specialist – Credit Risk Management

Federal Reserve Bank of Boston
- Markets Specialist
- Credit Risk Management

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 Markets Specialist. 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.

Our lending activities assist the Board and the Federal Reserve Open Market Committee in implementing monetary policy. The CRM Unit manages the credit risk posed by intraday and overnight credit exposure by (i) 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;

and (ii) ensuring 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. Additionally, we actively contribute to System and local policy initiatives, with a focus on payment systems.

The Markets Specialist in this position will use sound reason in developing conclusions and recommendations on complex analyses and compliance work in support of CRM strategic initiatives, including initiatives related to Reserve Bank counter party credit risk management, lending activities, and/or determining adherence to regulatory/policy standards, identifying and advising management on lending and collateral policy issues. This position is a primarily onsite role and you agree to work in the FRB Boston office.

If ever working from your home office, you agree to have the appropriate office set up to support your full engagement and protection of Federal Reserve information. Depending on the experience level, the ideal candidate will be eligible to be placed in any one of a range of positions within the job family, including Specialist or Senior Specialist.

Perform a wide array of analyses that involve independently synthesizing multiple sources of information to assess legal, financial / safety and soundness, systemic, and reputational risks; produce informative, well-supported and persuasive analyses and effectively communicate outcomes to Reserve Bank and System senior leaders. Analyze relevant facts and events driving more complex problems, recognizing trends/cause-effect relationships and symptoms that may indicate more significant problems or issues, and identify underlying issues or problems.

Identify existing and emerging issues and trends in external market factors, assess the potential impact on various dimensions of credit risk, applying an integrated risk management approach, and effectively communicate issues, trends, and associated risks considering the related impact on current policy. Develop/maintain a highly advanced understanding of CRM policies, processes, and procedures, as well as the relevant credit, liquidity and legal risk issues, and brief others on related developments in the banking industry.

Analyze legal issues, particularly those related to lending agreements and the perfection of security interests in pledged loans and securities under the Uniform Commercial Code, consulting in‑house legal counsel as necessary. Manage projects effectively where guidance is unclear, adjusting quickly to new and different priorities, including adjusting and realigning scope, assignments, deliverables, and deadlines. Effectively interact with internal and System-level colleagues, Reserve Bank management and external contacts, including senior management of banking institutions.

Be a team or System resource by leading or participating on high-level projects, work groups and strategic initiatives. Maintain current awareness of…