Credit Risk Analyst II/III at Federal Reserve Bank (FRB) in Cleveland, Ohio

Job Description:

Company

Federal Reserve Bank of Cleveland

The Federal Reserve Bank of Cleveland is part of the nation’s central bank and we’ve provided many opportunities for professional growth during our history.

We’ve been named “One of Northeast Ohio’s Best Places to Work” by North Coast 99. This prestigious award honors organizations with outstanding employment practices, including compensation, benefits, training, recruitment, retention, community services, and employee communications.

Our People Make the Difference! The Federal Reserve Bank of Cleveland is seeking innovative thinkers with vision to build the framework that will carry the Bank into the future.

Follow us on LinkedIn, Twitter, Instagram, and our YouTube channel – Cleveland Fed

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. Candidates who are not U.S. citizens or U.S. permanent residents may be eligible for the information access required for this position and sponsorship for a work visa, and subsequently for permanent residence, if they sign a declaration of intent to become a U.S. citizen and meet other eligibility requirements.

In addition, all candidates must undergo an enhanced background check and comply with all applicable information handling rules, and all non-U.S. citizens must sign a declaration of intent to become a U.S. citizen and pursue a path to citizenship.

The Credit Risk Management Department (CRM) plays two primary roles at the Federal Reserve Bank of Cleveland. First, it provides liquidity to depository institutions that are located within the 4th District of the Federal Reserve System or that have their master account at the Federal Reserve Bank of Cleveland. Second, it mitigates and manages the risk that depository institutions’ use of liquidity, payments, and other financial services pose to the Federal Reserve Bank of Cleveland.

The Credit Risk Analyst will support the CRM Condition Monitoring function, which is responsible for assessing and monitoring the financial condition of all depository institutions that either have a business relationship with FRB Cleveland or are eligible to do so.  This motivated, enthusiastic, and proactive analyst will also provide recommendations to ensure CRM's critical business activities are high performing, efficient, and considered best practices.

Essential Accountabilities

• Performs independent financial analyses on the condition of large, complex and/or problematic district depository institutions for determination of credit risk and condition considerations. Provides quantitative and qualitative recommendations to department and/or Bank management.




• Participates and occasionally leads department, Bank and FR System workgroups to enhance processes or policies, responds to emerging issues and develops and maintains positive working relationships with all levels of the department, Bank, and FR System as well as external State and Federal depository institution regulators.




• Prepares and delivers briefings, presentations, recommendations and other communications for key decision-makers and external shareholders regarding economic, financial, and operational matters impacting the Discount Window, Condition Monitoring, Payment System Risk and/or Collateral functions.




• Advises and/or counsels moderately complex and/or problematic depository institutions, researches and provides recommendations of a complex nature to internal management, other Reserve Banks, Board staff and others.




• Ensures that daily operations of key functions are conducted consistently with established policy, procedure and potential risk and control requirements.




• Demonstrates knowledge of broader financial system, banking industry, economic or financial markets.




• Performs other duties as assigned or requested.

Knowledge Areas

• Ability to perform independent research and utilize analytical tools

• Risk identification and risk assessment capabilities

• Intermediate Knowledge of regulations, procedures, and practices of credit risk management

• Knowledge of Microsoft Office, specifically Excel

• Knowledge of financial reporting and analytics

• Knowledge of statistical packages (SQL, SAS) preferred but not required.

Skill Areas

• Advanced problem solving and analytical skills

• Advanced written and verbal communication skills

• Advanced critical thinking skills

• Specialized operational/technical skills, such as financial institution supervisory/CAEL analysis

• Data querying, data visualization, and working with complex data sets preferred but not required

Education and Experience

Credit Risk Analyst II     

• Associate's Degree in Finance, Economics, or related field and 5+ years of related work experience required.




• Bachelor's Degree in Finance, Economics, or related field and 3+ years of related work experience required.




• Master's Degree in Finance, Economics, or related field and 0-1+ years of related work experience required.

Credit Risk Analyst III       

• Associate's Degree in Finance, Economics, or related field and 7+ years of related work experience required.




• Bachelor's Degree in Finance, Economics, or related field and 5+ years of related work experience required.




• Master's Degree in Finance, Economics, or related field and 3+ years of related work experience required.




• Professional license or certificate in finance, economics, or related field is preferred

Physical Demands and General Working Conditions: Traditional office environment: Employees typically sit most of the day, work with a computer and may answer/respond to phone calls. Physical movement consists of walking for meetings, breaks, etc. Ability to lift items weighing approximately 20 pounds on a limited basis is required. Addendum as needed: Employees may be required to travel by car/air.

Location: Hybrid in either Cleveland, Cincinnati, or Pittsburgh

Travel: 5%-10%

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

Yes

Job Category

Credit Risk Management

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.

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