Company
Federal Reserve Bank of Boston
This position is responsible for assisting with the credit risk management of the Main Street Lending Program portfolio.. The position reports to the Senior Main Street Risk Specialist or Director of Credit Management.. The individual will work with other credit risk analysts and vendors hired by the SPV to assist with the management of the portfolio, contributing to the assessment of loan level risk ratings and portfolio performance reporting.. The role will also analyze recommendations provided by vendors for individual loan credit actions and assist with the development of recommendations to MSLP Credit Team and SPV management regarding approval of such actions.. The individual would consider themselves experienced in credit risk management with a demonstrated capacity of working with large commercial loan portfolios.. A requirement of this position is that the employee must be fully vaccinated against COVID-19 or qualify for an accommodation from the Bank's vaccination policy; individuals who are unable to be vaccinated due to a medical condition or sincerely held religious belief may request an accommodation from the Bank
Job Summary:
This position is responsible for assisting with the credit risk management of the Main Street Lending Program portfolio with a focus on non-performing loans and loan workout. The position reports to the Director of Credit Management. The individual will work with the Director of Credit Management and vendors hired by the SPV to assist with the management of the portfolio, contributing to the oversight and direction of workout activity for all Main Street Lending Facilities. The role will also analyze recommendations provided by vendors for individual loan credit actions and assist with the development of recommendations to MSLP Credit Team and SPV management regarding approval of such actions. In addition, the individual will work other credit risk analysts as needed on the assessment of loan level risk ratings and portfolio performance reporting. The individual would consider themselves experienced in commercial loan structuring, commercial loan workouts with demonstrated capacity in working with outside vendors in performing needed workout activities.
Responsibilities & Key Output

• Assist the Senior Professional- Credit and Director of Credit Management on the oversight and direction of workout activity for all Main Street Lending Facilities.

• Assist the Senior Professional - Credit, Senior Main Street Risk Specialist and the Director of Credit Management on distressed debt situations as they may arise.
• Support the coordination of credit-related activities in workout situations, partnering with the Workout Advisor, the Eligible Lenders or Workout Administrator.

The Federal Reserve Bank of Boston is committed to a diverse 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.
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.
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

• Proactively identify potential problem loans for escalation to the Workout Advisor.

• Support the management of the SPV Lender Inquiry process involving core rights act matters, working with the Senior Professional, Director of Credit Management, Operations and Legal team. May involve active engagement with vendor(s) to support the development of recommendations to credit committee.

• Coordinate with vendors and prepare quarterly reserve assessments for the portfolio working with the Senior Professional, Director of Credit Management and other credit team members.

• Independently review highly complex commercial loan credits, performing financial analysis as directed while providing input on individual loan risk ratings, valuations and risk assessments.

• Prepare and present comprehensive financial analysis both orally and in written form with little to no oversight, including recommendations and conclusions as to the financial condition of the Borrower.

• Lead individual loan and industry-specific surveillance while assisting with portfolio reporting to FRBB/SPV management and others as needed.

• Independently evaluate changes to assigned segments of the portfolio for reporting and escalation procedures while monitoring for changes in market conditions related to the portfolio, including ratings activity and sector disruptions.
• Manage the preparation of approval requests for submission to the appropriate approval committee.
• Mentor and assist junior Credit Risk Analysts to facilitate the junior staff development and understanding of credit and credit risk topics.

Other Accountabilities:
Perform other duties as assigned.
Supervision:
This position is not responsible for the direct supervision of other employees.
What You Bring:

• Knowledge and experience normally acquired through, or equivalent to, the completion of a Bachelor's Degree
• 5+ years in commercial loan portfolio management, including problem loan and workout experience
• Formal credit training and experience with commercial loans is desired
• Experience in portfolio surveillance including an understanding of probability of default and loss given default ratings
• Excellent writing and communication skills to prepare analysis and approvals
• Candidates must be proficient in credit risk management practices and maintain current knowledge of related regulations, trends, and developments.

How You Will Be Successful:
• Understanding of commercial loan credit risk management practices.
• Demonstrated experience with large commercial loan portfolios.
• Demonstrated experience in problem loan and loan workout situations.
• Strong organizational, planning, and self-management skills.
• Ability to perform strong credit risk analysis and develop and/or deliver presentations.
• Ability to work cooperatively with all levels of staff and senior management.
• Able to operate with a sense of urgency.
• Comfortable with ambiguity.
• Strong customer service orientation.
• Demonstrated ability to focus on the details.
• Demonstrated ability to assimilate and apply new information quickly.
• Independent thinking and decision-making ability.
• Excellent written, verbal, graphical, and interpersonal skills.
Full Time / Part Time
Full time
Regular / Temporary
Regular
Job Exempt (Yes / No)
Yes
Job Category
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.
Privacy Notice