Senior Risk Management Specialist- Market and Liquidity Risk, Supervision and Regulation

Federal Reserve Bank - Chicago, IL

Part-time,Full-time - Mid Level

Hybrid - Chicago, IL

Monetary Authorities-Central Bank

About the position

The Senior Risk Management Specialist (RMS) will be an integral part of the team at the Federal Reserve Bank of Chicago, contributing to the supervision of capital markets risk across a diverse range of financial institutions. This role requires providing subject matter expertise in liquidity risk management, interest rate and derivatives exposures, investments, and other market risk topics pertinent to the examination of financial institutions regulated by the Federal Reserve System. The Senior RMS will be responsible for communicating emerging liquidity and market risk trends, participating in complex supervisory risk reviews or examinations, and assessing the risk profile and risk management practices of various financial institutions. The candidate will engage with numerous stakeholders across the 7th District, the Federal Reserve System, and other supervisory agencies. They will also be expected to consult and provide training on liquidity, interest rate, and other capital markets risk topics, serving as a resource for less experienced staff within the 7th District. The Market & Liquidity Risk (MLR) Management Specialists Team, part of the Large Financial Banking Organizations (LFBO) Division, is recognized nationally for its expertise in liquidity, interest rate, market risk, and investments. This team identifies and monitors emerging risks and trends in the banking and finance industry, maintaining ongoing relationships with individual bank examiners and supervisory teams across all institutional portfolios in the Seventh District, as well as with senior management and directors of supervised institutions. The RMS job family focuses on risk-driven supervision and analytics across a broad array of risk areas and products, engaging with internal stakeholders and institution executives who possess deep knowledge of their functional or risk areas. The Senior RMS will provide in-depth knowledge during reviews and examinations of financial institutions or service providers, drawing on professional experience to execute supervisory program requirements, prepare supervisory data, conduct necessary research, and perform complex analyses. They will summarize analyses regarding financial institutions' MLR exposure and evolving industry trends through meetings with management, reviewing management reports, leading onsite reviews, authoring reports, and monitoring the remediation of supervisory issues. Additionally, the Senior RMS will act as a risk management resource for the Reserve Bank, Federal Reserve System, and Board of Governors colleagues, working under general to limited supervision.

Responsibilities

• Monitors a variety of institutions or service providers offering MLR services to uncover potential risk exposures and risk management gaps as well as evolving risks.
• Assist in monitoring and communicating other evolving capital markets risks, including liquidity risk, interest rate, investment, and other market risks.
• Analyze a wide variety of financial institutions to uncover potential risk exposures and risk management gaps that may affect firm resiliency and recoverability.
• Lead or participate in District and FR System projects and initiatives to assess district- and industry-wide liquidity risk and risk management practices.
• Collaborate with fellow risk management specialists, consultants, examiners and other supervisory constituents throughout the Department and the FR System to ensure conclusions and recommendations are fully informed and effectively incorporated into supervisory activities.
• Maintain an elevated level of technical expertise, and knowledge of regulatory guidance and industry issues.
• Prepare and deliver high quality presentations, verbal and written supervisory research and summaries, and other analysis of liquidity and capital markets risk subjects.
• Assess the adequacy of risk management systems, policies and procedures, and compliance with laws and regulations.
• Discuss and opine with examination teams on supervisory strategies of institutions of varying complexity.
• Provide horizontal risk perspectives to examination/project plans, timelines, and milestones.
• Create and provide assessments, documents, and other correspondence to internal and external stakeholders.
• Consult and serve as a technical resource in assigned risk area for a limited range of supervisory issues within the department, District and System.
• Gather and organize information, derive sound analysis, support findings and conclusions, make recommendations, and follow up as appropriate.
• Prepare and present both orally and in written form, conclusions, and recommendations of varying complexity to internal and external stakeholders.
• Develop relationships within the team, division, and department.
• Provide guidance, training, and constructive feedback to less experienced staff to develop future MLR talent internally.

Requirements

• Bachelor's degree, relevant accreditation or equivalent experience in Economics, Finance, Business Administration or other related field is required.
• Four plus years of direct work-related experience in liquidity, market risk, and/or asset liability management required.
• Some of this experience could include managing the funding/liquidity risk profile within the treasury department or other function of a bank, insurer or other financial institution, or the direct examination of such activities.
• Two plus years in MLR area of expertise required, which may include interest rate risk management, investment portfolio risk management, and experience examining capital markets activities.
• Demonstrate an understanding of market, liquidity, and investments risks facing financial institutions.
• Demonstrates the ability to understand and execute risk focused supervision and processes.
• Demonstrates the ability to apply the knowledge in completing assignments.
• Demonstrates intermediate analytical and critical thinking skills.
• Demonstrates independent decision-making abilities as well as solid written and oral communication abilities.
• 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 manage time and projects effectively by adjusting quickly to new and different priorities.
• Demonstrates aptitude to leverage relevant technology and software applications.
• Possesses general business acumen.

Benefits

• Comprehensive benefits package, including medical, dental, vision, prescription drug coverage.
• 401k savings plan and retirement plan.
• Paid time off and transit benefit.
• A continuous learning environment with opportunities to gain new skills and grow your career.
• A wide range of Diversity, Equity, and Inclusion community groups as well as active employee resource groups and mentorship programs.
• Onsite gym and subsidized cafeteria.