Risk Management Specialist - Federal Reserve Bank - Chicago, US-IL (Greater Chicago Area)

Risk Management Specialist

Federal Reserve Bank - Chicago, US-IL (Greater Chicago Area)

Job Description

Risk Management Specialist – Commercial Real Estate
Risk Specialists Division – Supervision and Regulation Department


Do you want to work for one of the most influential, trusted and prestigious financial institutions in the world?  The Federal Reserve Bank of Chicago is one of 12 regional reserve banks in the United States, along with the Board of Governors in Washington, D.C., that make up the nation's central bank.  If you are looking for a career opportunity that allows you to make a contribution that counts, the Federal Reserve may be for you



Job Summary
The Risk Management Specialist will support core supervisory activities of the Risk Specialist Division related to Wholesale Credit Risk and Capital Analysis and Stress Testing.  The role is highly analytical, requiring the ability to work with complex data.  This Risk Specialist will monitor and analyze the wholesale lending portfolios of financial institutions supervised by the Federal Reserve, with a particular focus on commercial real estate (CRE) lending activities.  Key responsibilities will include the analysis and credit assessment of emerging risks within these disciplines to identify key trends, develop loss estimates, and assess capital adequacy.  The Risk Specialist will participate in firm-specific and horizontal risk assessment reviews and will contribute to the supervision of capital analysis and stress testing for financial institutions within the Chicago Fed district as well as other districts.  Stress testing for wholesale credit as part of the Comprehensive Capital Analysis and Review (CCAR) will be a special focus of the team.   The Risk Specialist also will provide performance feedback and work direction when leading specialty reviews. The level of work is considered advanced and incumbents must be able to work under limited supervision. This job does not have any direct reports.


Department Overview
Supervision and Regulation plays a critical role in the Bank's core mission, supervising regulating state chartered banks that are members of the Federal Reserve System, bank holding companies and financial holding companies. Our duty is to foster the stability, integrity and efficiency of the nation's monetary, financial and payment systems to promote optimal economic performance


Within the Supervision and Regulation Department the Wholesale Credit Risk Center is responsible for collecting and analyzing portfolio risk data, providing a horizontal perspective of wholesale credit risk management practices and supporting supervision of capital adequacy and stress testing for wholesale credit exposures.


Essential Duties
·         Analyzes moderately complex data and emerging risk information with a particular focus on CRE portfolios; interprets such data in order to make credit assessments, develop loss estimates, identify key trends and facilitate the analysis of capital adequacy
·         Develops horizontal assessments and prepare reports of underwriting and key risk trends within wholesale lending portfolios of financial institutions across the Seventh District and within the System
·         Assist in developing models and other technical analytical tools run by the group to provide support to examination teams and System initiatives; conducts research and development for related tools
·         Leads or plays a significant role in System initiatives related to the assessment of advanced risk management frameworks and models, including but not limited to: examination of wholesale credit risk evaluation systems and specialty risk modeling
·         Prepares clear and concise written finding summaries and reports, supervisory documents, project proposals and analysis on risk management topics
·         Develops and maintains a knowledge of emerging risk issues, credit trends, and ongoing developments in the commercial real estate lending market
·         Develops and maintains relationships with supervisory personnel at the Board of Governors, other Reserve Banks, other regulatory agencies, and at a number of supervised institutions
·         Performs other duties as assigned

Desired Skills & Experience

Education & Experience
·         Bachelors degree in business administration, finance, accounting or economics; Masters Degree preferred
·         7-10 years of credit analysis experience in a financial institution or regulatory agency
·         Related risk management experience a plus


Knowledge & Skills
·         Proven ability to develop sound recommendations for action based on analysis of complex data and information
·         Demonstrated knowledge of credit and financial analysis techniques to identify key drivers of credit risk
·         Knowledge of wholesale lending activities and products, with a preference for experience in the commercial real estate market
·         Strong written and oral communication skills to effectively disseminate analysis
·         Strong analytical skills and proficiency in Microsoft Excel, Word, and PowerPoint; proficiency in SAS or SQL a plus

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