Senior Risk Management Specialist - Wholesale Credit Risk

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Bank Examination
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267304 Requisition #

Job Summary:

The Federal Reserve Bank of Chicago’s Wholesale Credit Risk Center (WCRC) uses data and risk-driven models to inform banking supervision. Whether modeling wholesale credit risk for Dodd Frank Act Stress Testing (DFAST) or creating analytical tools used for the ongoing monitoring of credit markets, the WCRC applies risk-focused statistical analysis in innovative ways to help supervise the financial system. As such, the WCRC is looking for an enthusiastic, technically skilled individual who can participate in and influence the direction of wholesale risk assessments, ongoing model monitoring, and model results analysis as a subject matter expert.

Department Overview

The WCRC, housed within the Supervision and Regulation department, plays a critical role in the Federal Reserve System’s core mission of maintaining a healthy financial system. The Federal Reserve is mandated to foster the stability, integrity and efficiency of the nation's monetary, financial and payment systems to promote optimal economic performance. This includes a macro-prudential approach to banking supervision. To this end, the WCRC collects and analyzes both bank and industry wholesale credit risk data, provides a horizontal perspective of wholesale credit risk management practices, and supports supervision of capital adequacy and stress testing for wholesale credit exposures. Staff of the WCRC form the core of Federal Reserve System teams that develop loss models for wholesale lending and assess such modeling efforts at systemically important financial institutions. 

Responsibilities:

  • Consult and serve as a technical expert in executing and analyzing our wholesale stress testing models
  • Use advanced skills to assess wholesale supervisory model output, maintain model codebases and infrastructure, and evaluate model performance.   
  • Partner with the supervisory modeling team to develop and drive new modeling strategies and approaches
  • Draw on experience to create and provide complex model assessments, documents and other correspondence to internal and external stakeholders
  • Prepare and present both orally and in written form, conclusions and recommendations concerning matters of varying complexity to internal and external stakeholders
  • Maintain and grow relationships and networks with internal and external stakeholders, including other Reserve Banks, the Board of Governors and other regulatory agencies
  • Serve as a mentor and/or coach; provide technical expertise and constructive feedback; train and develop other staff members

Your Background:

  • Bachelor`s degree, relevant accreditation or equivalent experience
  • Seven plus years of direct work-related experience
  • Five plus years in risk area of expertise required
  • Demonstrates the ability to understand and execute risk focused supervision and processes; demonstrates the ability to apply complex concepts and inter-dependences in completing tasks
  • Demonstrates advanced analytical and problem-solving skills
  • Demonstrates independent and critical thinking and decision-making abilities as well as have strong written and oral communication abilities
  • Demonstrates the ability to provide effective direction or consultation
  • Possesses the ability to provide guidance and constructive feedback to less experienced staff
  • Possesses strong teamwork skills and the ability to build and work collaboratively within and across work teams
  • Demonstrates the ability to effectively lead a team without authority and to resolve moderately complex to complex issues
  • Demonstrates the ability to manage time and projects effectively by adjusting quickly to new and different priorities
  • Demonstrates aptitude to leverage relevant technology and software applications including coding experience
  • Possesses general business acumen

What we Offer:

  • Comprehensive benefits package, including medical, dental, vision, prescription drug coverage, 401k savings plan, retirement plan, paid time off and transit benefit.
  • A continuous learning environment with opportunities to gain new skills and grow your career.
  • Onsite gym and subsidized cafeteria

Other Requirements:

  • Travel approximately 10%
  • 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 applicable background checks 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.
  • As a condition of employment, Federal Reserve Bank of Chicago employees must comply with the Bank’s ethics rules, which generally prohibit employees, their spouses/domestic partners, and minor children from owning securities, such as stock, of banks or savings associations or their affiliates, such as bank holding companies and savings and loan holding companies. If you or your spouse/domestic partner or minor child own such securities, and would not be willing or able to divest them if you accepted an offer of Bank employment, you should raise this issue with the recruiter for this posting, who can provide you contact information for our ethics official if necessary

We are committed to equal employment opportunity regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, marital status, disability, gender, gender identity or expression, or veteran status

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