Credit and Collateral Model Risk Analyst I or II

Title: Credit & Collateral Model Risk Analyst I or II

Location: Boston United States

Job Description:

The Federal Home Loan Bank of Boston is a leading provider of wholesale funding for housing and community finance in New England serving more than 420 financial institutions across the region. The Federal Home Loan Bank of Boston is committed to making New England a better place to live and do business, and our employees are integral to our success. As a cooperative, we are owned by more than 420 banks, credit unions, insurance companies, and community development financial institutions that access tens of billions of dollars of our reliable, wholesale funding each year. Our funds are a vital resource that helps our members succeed, provide families with safe, decent affordable housing, and generate economic development that creates jobs in communities throughout our region.

Our highly skilled team of 220 is innovative, collaborative, and passionate about the work we do. We seek other professionals excited to share their knowledge, talent, and passion for our mission to join our team. We offer opportunities for career development, robust benefits, and a work-life balance.

Position Summary

The primary responsibility of this position (internal title is Credit & Collateral Risk Analyst l or ll) will be analyzing the Bank’s Credit Risk Models and valuation of Collateral pledged to the Bank to secure advances and other extensions of credit.  This entails conducting credit and market risk analysis of, and reporting on, the Bank’s Credit Models and Collateral Valuation risk, and additional topical research.

The analyst will gain and deploy working knowledge of all relevant internal and external models and tools used to measure these risks.  The analyst will be expected to process data using the models and aggregate outputs efficiently for upstream reporting to internal committees and other users of the information.  Other duties related to the role include economic research, data exploration, and report maintenance and creation. The analyst is also expected to know and reference all internal Credit and Collateral Risk Analytics Procedures and make recommendations for their enhancement as necessary. 

The ideal candidate is a critical thinker, enjoys working on multiple projects that require skills in data research and analytics, and can support changing priorities. Data is often decentralized, and the candidate must be comfortable with aggregating and handling large data sets and meeting deadlines.  Candidate should be a good communicator and bring a positive attitude with a desire to learn.

This role will have a hybrid work schedule in our Boston office in accordance with the Bank’s Hybrid Work Program. More time will be expected in the office to support onboarding initially, up to 90 days.

Specific Responsibilities

·Perform periodic analysis on all Bank collateral, encompassing facets of Credit, Market, and Model risk.  

·Aid in performing initial testing of upgrades to models/tools, including internally developed programs.

·Prepare periodic reports for review and presentation to internal Committees.

·Assist in special projects to meet the overall goals and objectives of the Credit Department.  These special projects often require creation of ad hoc reports and narrative of the subject matter using internal and external data.

·Demonstrate a working knowledge of Python Pandas library and basic SQL querying.

·Ability to conduct research and summarize findings or observations.

·Write or review business memos.

• Other duties as assigned.

Knowledge/Skills

·Basic knowledge of fixed income instruments and their valuation.

·Ability to work within defined time frames to meet internal and external reporting deadlines.

·Ability to follow procedures, summarize data, and create reports.

·Basic familiarity with statistical concepts.

·Effective communication skills, both written and verbal.

·Ability to work independently or with a team.

Experience

· 0 - 5 years of relevant experience in the Financial Services industry with an emphasis on analytics. Internships do count towards relevant experience. Analyst I applies to applicants with 0 – 2 years of experience. Analyst II applies to applicants with 2 – 5 years of experience.

·Proficiency in the use of MS/Excel. 

·Experience with Python is strongly preferred and Power BI a plus. In lieu of experience, demonstrated willingness to learn Python is expected as part of onboarding.

·Experience with discounted cashflow analysis a plus.

Education

• A bachelor’s degree in finance, economics, quantitative discipline, or equivalent work experience required.

 

As an Equal Opportunity Employer, we strongly encourage applicants from every ethnicity, color, religion, gender, age, national origin, disability, veteran or parental status and sexual orientation.

Nothing in this job description restricts management's right to assign or reassign duties and responsibilities to this job at any time.