Manager, Credit & Collateral Risk Analytics

The Federal Home Loan Bank of Boston is a leading provider of wholesale funding for housing and community finance in New England, serving more than 420 financial institutions across the region. As a cooperative, we are owned by these institutions and provide vital resources that help our members succeed, provide affordable housing, and generate economic development.

About the role

As a hands-on Analyst and Manager, you will analyze the Bank’s credit risk models, member default models, and valuation of collateral pledged to secure advances and other extensions of credit. This includes conducting credit and market risk analysis, reporting, and additional topical research. You will work with internal and external models and tools, assist in developing and maintaining internal code for credit and collateral risk analytics, and ensure familiarity with pricing risks of various financial instruments such as debentures, mortgage-backed securities, municipal bonds, CMBS, and residential/commercial loan products.

Responsibilities

• Provide training, guidance, and review the work of a small team of Credit and Collateral Risk Analysts.
• Maintain and develop internal controls on analytics produced by the team.
• Monitor performance of all Bank internal and external credit risk, default, and valuation models.
• Prepare and present periodic reports for Committee packages, financial statements, Federal Housing Finance Agency (FHFA), and Office of Finance data requests.
• Maintain and develop Python code related to analytical operations within Credit and Collateral Risk.
• Act as a liaison to internal and external model validators for model governance reviews.
• Assist in testing upgrades to models/tools, including internally developed code.
• Complete special projects, including ad hoc reports and narrative using internal and external data.
• Write or review business memos independently.
• Analyze credit models, including research and development of member default models, testing upgrades, and performance monitoring (benchmarking, back-testing, stress-testing, sensitivity analysis).
• Analyze collateral valuation, including new collateral research, cashflow pricing analysis, shocked prices from adverse economic scenarios, and distribution/rank-order analysis.

Requirements

• 7-10 years of relevant experience in the Financial Services industry with an emphasis on analytics.
• Current or prior people management or supervisory experience strongly preferred.
• Experience with PolyPaths and models germane to fixed income instruments is strongly preferred.
• Experience with Python libraries such as Pandas, GeoPandas, SQL Alchemy, YaML, and Requests.
• Experience with Python machine learning libraries (e.g., SciPy, scikit-learn) is a plus.
• Ability to create Power BI reports is a plus.
• Ability to perform basic queries with SQL.

Qualifications

• Bachelor’s degree in finance, economics, quantitative discipline, or equivalent work experience required.
• Master’s degree in related disciplines is preferred.
• Working knowledge of fixed income instruments and their valuation risk.
• Advanced skills with Python and intermediate working knowledge of SQL.
• Basic to intermediate familiarity with machine learning, statistics, and probability theory.
• Effective written and verbal communication skills.
• Ability to work independently or with a team and meet reporting deadlines.
• Comfort with aggregating and handling large, decentralized data sets.

Schedule

This role follows a hybrid work schedule in our Boston office, with more in-office time expected during the initial onboarding period (up to 90 days).

Pay

The anticipated base pay range for this role is $119,000 - $182,000 annually. The actual base salary offer will depend on relevant experience, required skills, and other factors. Full-time positions are eligible to participate in our annual incentive program and robust total rewards offerings.