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Federal Home Loan Bank of Boston Market Risk Management Analyst in Boston, Massachusetts

Market Risk Management Analyst

Location: Boston

Job Code: 312

# of openings: 1

Description

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 help 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 200 is diverse, 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, comprehensive wellness benefits, and a work-life balance.

Position Summary

The Market Risk Management Team is responsible for the measurement, reporting and analysis of the Bank’s exposures to interest rates and other factors affecting market value and projected earnings.

The Market Risk Management Analyst I is responsible for utilizing the Bank's market risk analysis models in achievement of the team’s objectives. In addition, the Analyst is accountable for generating timely reports and analyses for use by internal management, the Bank's Board of Directors, external and internal auditors, the Federal Housing Finance Agency, and the Office of Finance. The incumbent is responsible for ensuring the integrity of the risk analysis models’ databases and assumptions, and for producing quality, representative assessments of the Bank’s risk exposure in its balance sheet, portfolios, and transactions. The Analyst I is also charged with the compilation of market, transactional, and financial statement data to create appropriate processing environments in the Bank’s risk analysis systems and may provide input on a variety of key drivers of the models, including macro-economic research related to the economy and the housing market, statistical analytic methodologies, back testing and benchmarking, etc.. The incumbent is also responsible for documenting procedures and maintaining controls to guarantee the continuous availability of accurate and timely financial information.

The ideal candidate will be a self-starter with a financial and/or quantitative background. Solid interpersonal skills, coupled with effective communication techniques, must be demonstrated, along with the ability to meet competing deadlines and a thirst for learning.

This role will have a hybrid work schedule in our Boston office in accordance with the Bank’s Hybrid Work Program.

Specific Responsibilities

  • Update risk analysis models on the appropriate frequency, including but not limited to, underlying assumptions and transactional attributes, application of existing data management routines, and incorporation of current economic and market trends

  • Generate representative assessments of the Bank’s risk exposure in its balance sheet, portfolios, counterparties, or specific transactions through modeling the impact of credit, economic, and/or market assumptions and resultant impacts on the Bank’s risk positions

  • Create baseline and stress case results for the Bank’s market risk and credit risk forecasts

  • Prepare ad hoc and/or formalized modeling analysis of transaction level risk exposure including, but not limited to, hedge effectiveness, counterparty and collateral sufficiency, and pro forma asset and liability transactions

  • Provide critical analysis of modeling results for purposes of internal validation and explaining risk positions to senior analysts and management when necessary

  • Submits all reports requested by the appropriate external and internal parties on a timely basis, in the appropriate format, in consultation with, and after review by, senior analysts and functional management

  • Provide quantitative and analytical support to senior analysts and functional management

  • Perform back testing as required on the Bank’s portfolio to determine modeling reasonableness

  • Collaborate and support in the preparation and testing processes for all prepayment and risk model upgrades and conversions.

    Knowledge/Skills

  • Basic knowledge of loans, money market instruments, derivatives, debt instruments, security classes including underlying collateral types and deal structures

  • Basic knowledge and understanding of capital markets, trends, and developments

  • Can identify and focus on key variables within product analytics

  • Must have ability to work within well-defined time frames and meet internal and external reporting deadlines

  • Ability to review data updates for reasonability, accuracy, and appropriateness

  • Ability to provide interpretations of the compiled risk reports

  • Knowledge of finance and accounting principles

  • Understanding of macroeconomic trends

  • Must be able to work independently and collaboratively within a team. Prefer candidates who show a willingness and drive to learn new concepts, are not afraid to ask questions, and want to be a member of a highly collaborative team.

    Education

  • A four-year degree in finance, accounting, economics, or equivalent discipline required. Graduate degree is a plus.

    Experience

  • 1-3 years prior experience in the Banking / Financial Services industry with preferred experience in risk modeling / analysis

  • Prefer experience in use of database query and reporting tools. Must also be proficient in the use of MS/Excel for financial reporting, analysis, and graphing

  • Preferred but not required experience with Bloomberg, PolyPaths, QRM, BancWare or other large scale commercially available financial risk management applications.

    The Federal Home Loan Bank of Boston is committed to building and sustaining a diverse workforce that reflects the communities that we serve. 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.

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