Capital Markets Risk Specialist

CompanyFederal Reserve Bank of Boston

Working at the Federal Reserve Bank positions you at the center of the financial world with a unique perspective on national and international markets and economies. You will work in an environment with a diverse group of talented professionals to foster and support the safety, soundness, and vitality of our economic and financial systems. It is a challenge that demands the skills of a financial service professional and the intellectual curiosity of an academic - all combined with a passion for public service.  The Boston Fed is one of 12 Reserve Banks and we serve all or parts of Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont. Our mission is accomplished through our Bank's values: diversity, equity and inclusion, innovation, integrity, and leadership.
This job is eligible for a hybrid schedule with at least 50% on-site work expected.

Capital Markets Risk Specialist – Large Bank Supervision
 

Description of Role:

The Federal Reserve Bank of Boston has an opening for a team-oriented Capital Markets Risk Specialist to join the Large Bank and Insurance (LBI) unit as a member of the Risk Team. The Capital Markets Risk Specialist leads and/or participates in reviews and examinations that evaluate the effectiveness of risk management practices across a range of capital markets risk dimensions and businesses, with a focus on trading activities for large, globally systemic financial institutions under Federal Reserve supervisory authority. As a member of the Risk team, you will evaluate the firm’s financial condition and synthesize assessments of capital planning processes at the assigned firm. You will also participate in cross-institutional reviews in your specialty area, provide leadership or coordinate assistance in support of national supervision program management.
 

The Capital Markets Risk Specialist will use sound analysis and reasoning to develop conclusions and recommendations on complex issues including evaluating the effectiveness of management and risk management practices under review. Through well-supported recommendations you will negotiate, influence actions and resolve any conflict that arises. 
 

Responsibilities:

• Lead or support the oversight of capital planning activities and capital markets risks at large financial institutions. 
• Participate in risk-focused reviews of a range of capital markets risk dimensions and businesses, including topics such as capital planning, earnings analysis, and interest rate, market, and counterparty credit risk management.
• Help prepare capital markets related-supervisory strategy and risk assessments and selectively help other team members vet scopes and findings related to their risk specialty area.
• Serve as a team and System resource by leading or participating on high-level projects, workgroups, horizontal reviews, and strategic initiatives.  Contribute 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.
• Maintain liaisons with institution management, and with deputy/DST Leads, system risk specialists, and other regulatory agencies.
• Maintains current awareness of relevant regulations, laws, issues, trends and ongoing developments in the broader financial services industry.
• Be a team player in demonstrating personal accountability and openness to constructive feedback to promote a positive work environment.

Education and Experience:

• A Bachelor’s degree is required, with a concentration in business management, finance, or accounting preferred.
• Knowledge and experience normally acquired through, or equivalent to, the completion of an advanced degree and/or obtainment of other advanced professional designations, licenses, or certifications.
• 10+ years of commensurate financial industry (in a Risk or Audit function) or regulatory work experience.
• Proficient technical knowledge in a specialty area (e.g., capital planning, earning analysis, and interest rate, market, and counterparty credit risk) is preferred.

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.
As a condition of employment, all Federal Reserve Bank of Boston employees must comply with the Bank's ethics rules, which generally prohibit employees, their spouses/domestic partners, and minor children from owning financial interests – such as stocks or bonds – from banks, savings associations, and systemically important financial institutions or their affiliates, such as bank holding companies or savings and loan holding companies. If you, your spouse or domestic partner, or your minor child own such assets and would be unwilling or unable to divest them if you were to accept a job offer, you should raise this issue with our recruitment team. Applicants should review the Bank's Employee Code of Conduct to ensure compliance with conflict of interest rules and personal investment restrictions.
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 TimeFull time

Regular / TemporaryRegular

Job Exempt (Yes / No)Yes

Job Category

Work ShiftFirst (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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