Credit Risk Analyst II / III - Federal Reserve Bank (FRB)

Company

Federal Reserve Bank of Cleveland

The 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.

For twenty-five years in a row, 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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Organizational Expectations:

The Credit Risk Management Department (CRM) minimizes risk of loss from failed depository institutions, and, more generally, works to avoid losses that undermine the integrity of the payment system or the credibility of the Federal Reserve. It serves as a contingency lender in support of financial stability and assists with the effective implementation of monetary policy.

The Credit Risk Analyst will support CRM’s Payment System Risk and Reserves functions by becoming familiar with depository institutions’ Federal Reserve accounts, processing account-related tasks, analyzing account use, and participating on System workgroups. This motivated, enthusiastic, and proactive analyst will participate in application testing as well as provide recommendations for mitigating risk to department and/or Bank management and support the Credit Risk Management Committee.

General Responsibilities:

• 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:

Credit Risk Analyst II:

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

Credit Risk Analyst III

• Associate's Degree in Finance, Economics, or related field and 7+ years of related work experience required.
• Bachelor's Degree in Finance, Economics, or related field and 5+ years of related work experience required.
• Master's Degree in Finance, Economics, or related field and 3+ years of related work experience required.

Knowledge and Skills Area:

• 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

Citizenship requirements

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.

Physical Demands and General Working Conditions            

This is not necessarily an exhaustive list of all responsibilities, duties, performance standards or requirements, efforts, skills or working conditions associated with the job. While this is intended to be an accurate reflection of the current job, the Federal Reserve Bank of Cleveland reserves the right to revise this or any job description at any time. 

Reasonable Accommodation Statement - The Federal Reserve Bank of Cleveland is committed to ensuring that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, perform essential job functions, and receive other benefits and privileges of employment. To request a reasonable accommodation for any part of the employment process, please send an email to clev.4d.benefits.specialist@clev.frb.org.

Location/in office requirements

This position is hybrid with 2-3 days in office at either our Cleveland or Cincinnati office

Bank’s Ethics Rules and Drug Testing

As a condition of employment, Federal Reserve Bank of Cleveland employees must comply with the Bank’s ethics rules which generally prohibit employees, their spouses/domestic partners, and minor children from owning or controlling, directly or indirectly, any debt or equity interest in a depository institution or an affiliate of a depository institution. A "depository institution" means a bank, a trust company, or any institution that accepts deposits, including a bank chartered under the laws of a foreign country. In addition, employees (and their spouses/domestic partners, and minor children) may not own shares of mutual funds, unit investment trusts or ETFs that have a policy, as stated in the prospectus, of concentrating in the financial services industry and that have underlying investments in banks or other depository institutions.  If you or your spouse/domestic partner or minor child own such securities and would not be willing or able to divest them if you accepted an offer of Bank employment, you should raise this issue with the recruiter for this posting.

In addition, as a condition of employment, candidates must undergo a background check and will be tested for all controlled substances prohibited by federal law, to include marijuana, prior to hire and for certain safety sensitive positions during employment.  

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

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

Yes

Job Category

Markets

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, 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 (https://rb.wd5.myworkdayjobs.com/FRS) or through verified Federal Reserve Bank social media channels.

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