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Risk Manager 1 Job Details

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Employer:  Federal Reserve Bank
Job Ref No:  257679
Job Title:  Risk Manager 1
Sector:  Asset Management
Sub Sector:  Traditional Asset Manager
Risk Type:  Credit
Risk Manager 1

The Credit Risk Management Unit in Supervision, Regulation, and Credit of the Federal Reserve Bank of Boston has an opening for a Manager to oversee credit risk management activities. SRC Managers are responsible for both day to day operations of a business function as well as contributions to strategic direction and planning within that function. SRC Managers serve as subject matter experts possessing broad and deep expertise in multiple complex functions. They are responsible for ensuring appropriate staffing levels, work flows and internal processes within their units, establishing unit and staff objectives, directing activities of staff, overseeing professional development and conducting performance management relative to high level, professional staff. SRC Managers engage in hands-on analysis as needed in connection with achieving unit objectives, including active participation in System level policy development & projects and department level initiatives.

Principal Accountabilities of the SCR Manager, Credit Risk Management Unit:

Lead and coordinate the efforts of the Credit Risk Management function's staff members in achieving the goals of providing high quality service to DIs while protecting the Reserve Bank and the Treasury against credit risk related to loans or daylight/overnight overdrafts and supporting System efforts to contain systemic risk events. Direct all aspects of the Condition Monitoring, Local Collateral, and Failing Institution Risk areas.

• Develop staff members as an empowered, engaged, interactive team having the skills and flexibility to provide support to any of the department's professional functions while concurrently and independently managing their primary responsibilities.

• Evaluate and implement new System and Reserve Bank policies including preparing insightful Reserve Bank comments on collateral- and condition monitoring-related policy proposals. Propose topics for presentation to the Reserve Bank's Credit and Risk Management Committee and, as required, participate in those presentations.

• Develop/maintain a strong understanding of relevant credit and legal risk issues and brief others on related developments in the banking industry. Perform a wide array of financial and/or business analyses that involve independently synthesizing multiple sources of information to produce well-supported and persuasive analyses. Identify emerging issues and trends in external market factors, assess the potential impact on various dimensions of credit risk, and effectively communicate issues, trends, and associated risks to CRM Director.

• Demonstrate good judgment, well-reasoned decision-making and a highly refined level of business acumen in situations that may involve complex or sensitive issues. In all internal and external communications, demonstrate strong interpersonal skills, including political savvy, understanding the motivation and needs of others, appropriate negotiation, strategic agility and conflict resolution.

• Collaborate with other regulators, (FDIC, OCC, OTS, NCUA, State, etc.), other stakeholders (BOG, FHLB, etc.), departments in the Reserve Bank, and other Reserve Banks as necessary, to minimize risk in failing bank situations.

• Maximize overall Department effectiveness by identifying and overseeing cross functional assignments to enhance staff breadth and depth, by designing transitional assignments to promote knowledge transfer and by proposing topics for presentation to senior management to promote awareness of emerging issues and/or Departmental goals and achievements.

• Promote effective communications among staff and department management. Create and maintain effective liaison relationships with other units and functions of the department to prevent duplication of effort, avoid gaps in analytical products, and ensure that services performed on their behalf meet quality and timeliness standards.

• Participate in strategic planning activities, including the development of goals and objectives, as well as budgeting, group level resource management and other management/ administrative responsibilities.

Other Accountabilities:

• Overnight travel of up to 10%

• Perform other duties as assigned


• Direct oversight of two staff members and indirect oversight of five staff members.

Knowledge and Experience:

Knowledge and experience normally acquired through, or equivalent to, the completion of a Master's degree and a minimum of 12 years of work experience that demonstrates applicable technical knowledge or managerial skills. Law degree a plus.

Key Competencies:

The following skills are required:

• Effectiveness in team and project management, including the ability to build effective teams, manage conflict and appropriately delegate responsibilities.

• Strong leadership and command skills; managerial courage.

• Highly developed critical thinking, including the ability to deal with ambiguity, strong analytical, problem-solving, and decision-making capabilities.

• Ability to independently conduct and effectively review financial institution financial analyses completed by team members, and to make a judgment regarding counterparty credit risk posed to the Reserve Bank , giving consideration to current environment, business model, and leading indicators of risk.

• Ability to set priorities and adapt to changing circumstances; demonstrating commitment and flexibility to ensure that critical deadlines are met.

• Highly developed oral and written communications skills, including the ability to develop tailored, concise, and effective oral and written correspondence for both internal and external audiences.

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

Employment Type:  Full Time
Region/Country:  Americas, United States
States/Counties:  Massachusetts
City:  Boston

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