CompanyFederal Reserve Bank of BostonAs an employee of the Federal Reserve Bank of Boston (FRBB), you will work to promote sound growth and financial stability in New England and the nation.
You will contribute to communities, the region, and the nation by conducting economic research, participating in monetary policy-making, supervising certain financial institutions, providing financial services and payments, playing a leadership role in the payments industry, and supporting economic well-being in communities through a variety of efforts.
The Boston Fed is one of 12 Reserve Banks and we serve all or parts of Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont.
Our mission is accomplished through our Bank’s values: diversity, equity and inclusion, innovation, integrity, and leadership.A requirement of this position is that the employee must be fully vaccinated against COVID-19 or qualify for an accommodation from the Bank’s vaccination policy; individuals who are unable to be vaccinated due to a medical condition or sincerely held religious belief may request an accommodation from the Bank.This job is eligible for a hybrid schedule with some on-site work expected.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 Senior Business Analyst in our Reserves and Lending 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, performing with minimal supervision, and providing leadership on, a wide 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, recommending corrective action and/or counseling of DIs, as appropriate; and review/maintenance of internal processes and procedures.
You would provide some supervision of the group and its operations in a back-up capacity.
Additionally, you would collaborate with colleagues across the Federal Reserve System, leading and contributing to strategic projects and workgroups.Principal Accountabilities:Handle all workflows and communications for the most complex processing 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 troubleshooting errors.Monitor Discount Window borrowers and FRBB account activity, identify issues and trends, and recommend appropriate action based on policy parameters.Analyze business line issues, applying appropriate logic and fact-finding skills; identify underlying issues or problems and recognize trends/cause-effect relationships.Understand and use more complex business data, tools, and technology to perform non-routine tasks.Proactively troubleshoot issues when errors occur.Train others and demonstrate the ability to effectively lead a team; provide guidance and constructive feedback to less experienced staff and peers on projects covering work internal to and external to the unit/department.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 of moderate complexity.Knowledge and experience normally acquired through, or equivalent to, the completion of a Master’s degree in a related field and a minimum of 4 to 7 years of job-related experience.Staff in this position is expected to possess the following essential skills:RequiredContinuously expanding knowledge in area of expertise, identifying the implications of, and responses to, changing business conditions, and developing effective approaches to operational problems.Strong attention to detail.Ability to manage time and multi-task to meet daily work stream demands.Experience leading an operations team.Commitment to furthering a diverse and inclusive work environment.Highly DesirableDemonstrated oral and written communications skills, including presenting moderately complex business matters to internal and external stakeholders.Understanding functional area data sources and competently using established tools, Microsoft Excel, and other advanced tools as appropriate to analyze the information.The Federal Reserve Bank is committed to a diverse, equitable and inclusive workplace and to provide equal employment opportunities to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, or military service.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.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.The above statements are intended to describe the general nature and level of work required of this position.
They are not intended to be an exhaustive list of all duties, responsibilities or skills associated with this position or the personnel so classified.
While this job description is intended to be an accurate reflection of this position, management reserves the right to revise this or any job description at its discretion at any time.Full Time / Part TimeFull timeRegular / TemporaryRegularJob Exempt (Yes / No)YesJob CategoryWork ShiftFirst (United States of America)The Federal Reserve Banks believe that diversity and inclusion among our employees is critical to our success as an organization, and we seek to recruit, develop and retain the most talented people from a diverse candidate pool.
The Federal Reserve Banks are committed to equal employment opportunity for employees and job applicants in compliance with applicable law and to an environment where employees are valued for their differences.Privacy Notice