Markets Specialist - Credit Risk Management

The Credit Risk Management (CRM) Unit of the Supervision, Regulation, and Credit Department contributes to the Federal Reserve Bank of Boston's mission to promote sound growth and financial stability in New England and the nation. The unit serves as a source of liquidity to depository institutions (DIs) by extending overnight credit through the Discount Window, providing emergency credit during market stress, and administering the Board of Governors' Payment System Risk policy. CRM manages credit risk from intraday and overnight credit exposure by monitoring DI conditions, mitigating risks from heightened-risk institutions, coordinating DI failures, and ensuring all credit extensions are secured through collateral valuation and margining. Additionally, the unit contributes to System and local policy initiatives, focusing on payment systems.

About the role

The Markets Specialist will develop conclusions and recommendations on complex analyses and compliance work supporting CRM strategic initiatives, including counterparty credit risk management, lending activities, and adherence to regulatory/policy standards. This primarily onsite role requires occasional remote work with an appropriate home office setup to protect Federal Reserve information. Depending on experience, candidates may be placed as a Specialist or Senior Specialist.

Responsibilities

• Perform analyses synthesizing multiple information sources to assess legal, financial/safety and soundness, systemic, and reputational risks; communicate outcomes to senior leaders.
• Analyze complex problems, recognize trends, identify underlying issues, and assess potential impacts on credit risk using an integrated risk management approach.
• Maintain advanced understanding of CRM policies, processes, and relevant credit, liquidity, and legal risk issues; brief others on banking industry developments.
• Analyze legal issues related to lending agreements and security interests under the Uniform Commercial Code, consulting in-house counsel as needed.
• Manage projects with unclear guidance, adjusting priorities, scope, deliverables, and deadlines as needed.
• Interact with internal and System-level colleagues, Reserve Bank management, and external contacts, including senior banking institution management.
• Lead or participate in high-level projects, workgroups, and strategic initiatives as a team or System resource.
• Maintain awareness of regulations, market structure, products, and trends in the financial services industry.
• Influence others and advocate for solutions on complex matters within and outside the unit to represent Boston’s needs.

Requirements

• Master’s degree in Finance, Economics, or a related discipline and/or a Juris Doctor degree.
• Six years of experience evaluating financial institutions' financial condition, including financial statement and ratio analysis.
• Financial institution supervisory or legal experience or knowledge of payment systems is a plus.
• Strong critical thinking, problem-solving, and decision-making skills in ambiguous situations.
• Excellent oral and written communication skills for internal and external audiences.
• Ability to multi-task, prioritize, and meet competing deadlines with strong attention to detail.
• Team orientation and awareness of banking industry policies, practices, trends, and technologies.
• Creative problem-solving skills for emerging issues.

Pay

The salary range for this position is $165,200 – $247,800. The final salary will be determined by the applicant’s background, skills, internal equity, and market alignment. The Federal Reserve Bank of Boston aims to pay competitively.

Schedule

This is a full-time, regular, exempt position on the first shift.

Additional Information

• As a condition of employment, employees must comply with ethics rules prohibiting ownership of financial interests (e.g., stocks, bonds) in banks, savings associations, or systemically important financial institutions and their affiliates.
• This position requires access to confidential supervisory and/or FOMC information, limited to "Protected Individuals" (U.S. citizens, nationals, or permanent residents eligible for naturalization).
• Employment is contingent on passing a two-phase security screening: (1) physical examination (including drug screening), reference checks, and credit/criminal history checks; (2) additional risk-based screening, which may include residency verification and personal interviews.
• Applicants must have been a U.S. citizen or permanent resident residing in the U.S. for at least three years.
• Employees in this role will undergo FBI fingerprint/criminal background and Patriot Act/OFAC watch list checks every five years and must comply with information handling rules.