Quantitative Analyst

📁
Analytical
📅
266775 Requisition #

Quantitative Analyst

This position can be located in Cleveland, Cincinnati or Pittsburgh

Position Summary:

Quantitative Analyst with the Capital Risk Team participating in supervisory activities focused on modeling practices and other technical areas aiming to strengthen the capital adequacy of banking organizations within Fourth District and system wide.

Assignments include participation in supervisory reviews including nationwide ones such as CCAR/HCR and other district or system initiatives for example, developing and/or validating quantitative or qualitative approaches or tools. Supports gathering of cross-firm and banking industry/system risks and developments to understand and build perspectives on micro (institution -specific), horizontal (industry wide/peer), and macro (financial system supervision) risks and vulnerabilities. Participates on projects, outreach and training.

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 Federal Reserve Bank of Cleveland is an Equal Opportunity Employer. We are dedicated to sustaining an environment in which diversity is valued and differences are strengths. It is the Bank’s policy to provide equal employment opportunity for all employees and applicants without regard to race, color, religion, sex, national origin, age, disability, gender identity or expression, genetic information or sexual orientation.

Responsibilities:

  • Participate and at times lead supervisory activities that evaluate models, modeling approaches, stress testing, and model risk management practices (notably, model development, model validation and implementation/use) of banking organizations within Fourth District and system wide to determine compliance with supervisory expectations
  • Participate on national horizontal reviews aimed at assessing nation’s largest banking organizations’ quantitative and qualitative approaches forecasting pro-forma estimates of capital adequacy as part of their capital planning exercises
  • Coordinate with supervisory teams, system resources, risk examiners, other quantitative analysts and other parties to inform and conduct supervisory assignments and communicate their findings
  • Maintain up-to-date knowledge on current technical, industry, and regulatory developments and approaches that may impact capital adequacy of individual banking organizations or industry as a whole and expand our perspectives and methods to identifying and responding to financial system risk
  • Work on developing and implementing innovative econometric modeling, data mining, and emerging technology (NLP, Machine Learning) solutions to maintain and enhance supervisory practices
  • Contribute to and/or lead various Federal Resserve System, Reserve Bank, and Departmental initiatives by participating in committees, training initiatives and development of policy statements to enhance the supervision of financial institutions.
  • Share knowledge and expertise and provide leadership, coaching, and mentoring to other quantitative analysts, examiners, analysts, and other staff to support their knowledge and understanding of quantitative approaches and their impact to capital risk

Minimum Education and Experience

  • Master's Degree in quantitative discipline (mathematics, mathematical finance, financial engineering, statistics or economics)
  • 3+ years of work experience required in financial modeling and risk management with a focus on advanced quantitative modeling and risk measurement techniques and processes

Knowledge and Skills

  • Experience understanding the theoretical foundation, building, updating, or validating quantitative methods including a wide spectrum of regression approaches, machine learning techniques, NLP solutions
  • Basic financial, banking, or accounting knowledge as evidenced by previous experience, academic work such as a degree in Finance or Accounting or certifications such as CFA, CPA, etc.
  • Advanced knowledge of at least one widely used statistical or mathematical programming language (such as R, Python, SAS, MATLAB, etc.)
  • Intermediate presentation skills
  • Intermediate written and verbal communication

The Federal Reserve Bank of Cleveland is an Equal Opportunity Employer. We are dedicated to sustaining an environment in which diversity is valued and differences are strengths. It is the Bank’s policy to provide equal employment opportunity for all employees and applicants without regard to race, color, religion, sex, national origin, age, disability, gender identity or expression, genetic information or sexual orientation.

Physical Demands and General Working Condition

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.

 

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