Reserves and Lending Business Analyst

Federal Reserve System • Boston, MA

5d • Onsite

About The Position

The Reserves, Credit, and Applications (RCA) Unit of the Supervision, Regulation, and Credit Department of the Federal Reserve Bank of Boston (FRBB) has an opening for a Business Analyst in our Lending and Reserves group. The RCA Unit contributes to FRBB’s mission to promote sound growth and financial stability in New England and the nation by effectively serving as a source of liquidity to depository institutions (DIs) within the First District of the Federal Reserve System. We administer the Board of Governors’ Payment System Risk (PSR) policies governing the use of intraday credit for First District DIs, and Reserves policies governing the payment of interest on reserves balances, among others. Additionally, we operate the Discount Window, extending overnight credit to qualifying DIs. Our reserves and lending activities assist the Board and the Federal Reserve Open Market Committee (FOMC) in implementing monetary policy. In this position you would be part of a team responsible for supporting day-to-day Reserves, Discount Window, and PSR operations, including a variety of duties involving the assessment and processing of Discount Window loans to DIs; processing of loans and bonds pledged by DIs to secure loans and overdrafts; monitoring and analysis of financial institution data; analysis of DIs’ account activity to ensure compliance with Reserves and PSR policies, and review/maintenance of internal processes and procedures. Additionally, you would collaborate with colleagues across the Federal Reserve System, contributing to strategic projects and workgroups.

Requirements

• Knowledge and experience normally acquired through, or equivalent to, the completion of a Master’s degree in a related field and a minimum of 2 years of job-related experience.
• Exceptional analytical and problem-solving skills with demonstrated ability to gather, analyze, synthesize, and identify patterns in data.
• Demonstrated intellectual curiosity, independent thinking and decision-making abilities with a desire to continuously expand knowledge skill set within areas of expertise.
• Sound written and verbal communication skills.
• Strong attention to detail and ability to manage time to meet daily work stream demands.
• Ability to understand a variety of established systems and data sets, with knowledge of MS Excel and other tools as appropriate to analyze information and perform root cause analysis.
• Flexible work hours is needed as work can be up to 7PM on a rotational basis with other team members.
• It is anticipated that you will work onsite for this role.
• If you currently reside within the First District it is expected to stay located within the district unless otherwise approved by your management and HR management.
• As a condition of employment, all Federal Reserve Bank of Boston employees must comply with the Bank's ethics rules, which generally prohibit employees, their spouses/domestic partners, and minor children from owning financial interests – such as stocks or bonds – from banks, savings associations, and systemically important financial institutions or their affiliates, such as bank holding companies or savings and loan holding companies.
• Applicants should review the Bank's Employee Code of Conduct to ensure compliance with conflict of interest rules and personal investment restrictions.
• 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.
• For this job, any offer of employment is contingent upon successfully passing a two-phase security screening. The first phase consists of the satisfactory completion of a physical examination (including a drug screening), reference checks, and a security investigation consisting of credit and criminal history checks. The second phase, which might not be complete until after you begin working at the Reserve Bank, is an additional risk-based security screening determined by the risk rating of the position. Depending upon the sensitivity of the position, this phase may include, and is not limited to, work and residency eligibility verification, and personal interviews with the candidate, references, and prior employers.
• All applicants must have been a US Citizen or a permanent resident who also resided in the United States for at least three (3) years.
• 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.
• All candidates must undergo an enhanced background check and comply with all applicable information handling rules.

Responsibilities

• Process workflows and communications for Lending and Reserves activities associated with collateral management, Discount Window lending, and DI account management.
• Apply strong critical thinking and problem-solving skills promptly and effectively on time-sensitive operational issues and proactively troubleshoot errors.
• Contribute to responding to Audit-related data requests.
• Analyze business line issues, applying appropriate logic and fact‐finding skills; identify underlying issues or problems and recognize trends/cause‐effect relationships.
• Continuously expand business line knowledge and identify the implications of, and responses to, changing business conditions.
• Provide analytical and research support for ad hoc assignments.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level