Credit Risk Specialist, Senior - Federal Reserve Bank (FRB)

Company

Risk Specialist, Senior

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.

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The Senior Credit Risk Specialist leads and/or participates in reviews and examinations that evaluate the effectiveness of credit risk management practices across a range of capital markets risk dimensions and businesses, with a focus on wholesale credit risks for a large, globally systemic financial institution under Federal Reserve supervisory authority.  The Senior Risk Specialist is a highly competent technical practitioner, manages projects at an advanced level and supports the development and execution of strategic priorities.  As a member of our dedicated supervisory team (DST), you will assess credit risk management in functional areas and business lines and the risk management programs of the institution through participation in on-site examinations and regular monitoring practices of business activities to ensure they operate in a sound manner, and comply with applicable banking laws, regulations, and policy statements. You will also share knowledge within the DST, being a valuable team member by holding yourself accountable and being receptive to performance feedback and the divergent views from others.
 

The Senior Credit Risk Specialist will use sound analysis and reasoning to develop conclusions and recommendations on complex issues including evaluating the effectiveness of credit management and risk management practices under review. Through well-supported recommendations you will negotiate, influence actions and resolve any conflict that arises.  The Senior Credit Risk Specialist may also participate in cross-institutional reviews in your specialty area, provide leadership or coordinate assistance in support of national supervision program management.

The position and job description posted is for a Senior Risk Specialist; however, candidates will be placed into an appropriate level within the Specialist job family (including Risk Specialist, Associate Risk Specialist or Senior Risk Specialist) based on the extent of their experience.

Responsibilities:

• Leads the oversight of wholesale credit risk in functional areas and business lines that encompass underwriting, independent risk management, credit review, rating practices and methodology, credit reserves practices and asset quality assessments.  Supports supervision and oversight of investment activities, country and sovereign risks, and counterparty credit exposures. 
• Successfully leads complex targeted reviews, examinations, and or/special projects in specialty area.  Demonstrates strong judgment and well-reasoned decision making in situations that may involve highly complex issues, public scrutiny, market reactions, and potentially adversarial circumstances.
• Evaluates the effectiveness of management and is highly successful in influencing their actions through strong relationship management and interpersonal skills and constructive negotiation and conflict resolution.
• Assumes responsibility for aspects of the supervisory strategy and risk assessment for and participates in the vetting of scopes and findings relating to risk specialty areas.
• Serves as a team and System resource by leading or participating on high-level projects, workgroups, and strategic projects. Contributes to the understanding of emerging risks, risk management practices and changes in supervision policies, procedures, tools or guidance on a System basis.
• Prepares informative, well-supported supervisory products and work papers, effectively communicating supervisory conclusions and required actions on complex topics to senior management and boards of directors.
• Maintains current awareness of relevant regulations, laws, issues, trends and ongoing developments related to specialty businesses and products, related risk management techniques and management information systems, and audit and internal controls.

Other Accountabilities:

• Perform other duties as assigned.

Education and Experience:

• Bachelor’s degree is required.

• Knowledge and experience normally acquired through, or equivalent to, the completion of a Master’s Degree and/or obtainment of other advanced professional designations, licenses, or certifications and either 12 years of commensurate financial industry or regulatory work experience of a Bank Commission plus 7 years of work experience post commissioning.

Our total rewards program offers benefits that are the best fit for you at every stage of your career:

• Comprehensive healthcare options (Medical, Dental, and Vision)
• 401K match, and a fully funded pension plan
• Paid vacation and holidays; flexible work environment, healthy workflow
• Generously subsidized public transportation
• Annual tuition reimbursement
• Professional development programs, training and conferences
• And more…

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. 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.

For this job, any offer of employment is contingent upon successfully passing a two-phase security screening. The first phase consists of the satisfactory completion of a physical examination (including a drug screening), reference checks, and a security investigation consisting of credit and criminal history checks. 

The second phase, which might not be complete until after you begin working at the Reserve Bank, is an additional risk-based security screening determined by the risk rating of the position.  Depending upon the sensitivity of the position, this phase may include, and is not limited to, work and residency eligibility verification, and personal interviews with the candidate, references, and prior employers.  

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. All candidates must undergo an enhanced background check and comply with all applicable information handling rules.

The above statements are intended to describe the general nature and level of work required of this position. They are not intended to be an exhaustive list of all duties, responsibilities or skills associated with this position or the personnel so classified. While this job description is intended to be an accurate reflection of this position, management reserves the right to revise this or any job description at its discretion at any time.

Full Time / Part Time

Regular / Temporary

Job Exempt (Yes / No)

Job Category

Work Shift

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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