The Federal Reserve Bank of Philadelphia is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. It helps formulate and implement monetary policy, supervises banks and bank and savings and loan holding companies, and provides financial services to depository institutions and the federal government. The Federal Reserve Bank of Philadelphia serves eastern and central Pennsylvania, southern New Jersey, and Delaware.
This Job Description is within Quantitative Analytics Job Family and is aimed primarily for positions within the Financial Monitoring Group (FMG), Retail Risk Analysis (RRA), and Risk Assessment, Data Analysis and Research (RADAR) business lines; but could include anyone within the Supervision Regulation and Credit (SRC) department that performs these tasks. An ideal candidate must have knowledge of and be able to perform actions that are related to activities in the designated business line.
The Financial Monitoring Group (FMG) within SRC is recruiting for a Quantitative Analyst. FMG produces banking analysis that allows System personnel to track retail credit industry trends. The ideal candidate has the ability to manipulate large datasets and analyze trends in banking and economic activity.
The Quantitative Analyst III has a strong interest in supervisory processes, banking products and applicable laws and regulations, in addition to a comprehensive understanding of banking risks and risk management strategies. The Quantitative Analyst III serves as a senior technical SME within an assigned risk area, with responsibilities that may include: evaluating trends in the banking industry, identifying factors that pose risk to the financial system, and communicating relevant findings to internal stakeholders.
He/she may support senior staff on system-wide analytical initiatives related to consumer credit, bank risk, or regulatory policies pertaining to these matters that may include: horizontal studies on bank safety and soundness, research projects, implementation of the models used for the annual Dodd Frank Act (DFAST) and Comprehensive Capital Analysis and Review (CCAR) stress tests, among others.
Principal Duties and Responsibilities:
Supporting the development or implementation of supervisory retail loss models, the data related to those models, or the qualitative evaluation of industry models through participation in the DFAST and CCAR exercises.
Contributing to the analysis of consumer credit or fixed income securities such as tracking the performance of key variables to identify possible sources of emerging risks for bank examiners, subject matter experts, CCAR modelers or other System personnel.
Collaborating with senior staff on statistical and econometric research projects, including collecting and analyzing data, reviewing prior research, writing research reports, and presenting results to officers and staff.
Participates on Bank, department, or system projects of moderate to high complexity. Demonstrates effective SRC Core Competency skills for grade and position.
Performs other related duties as assigned. Actively involved in the accomplishment of departmental and Bankwide quality initiatives. Complies with all applicable information security policies, guidelines, and practices.
Bachelor's degree in a business or quantitative discipline, such as economics, finance, or statistics and minimum of one year of industry experience in banking, bank supervision or a finance-related field is required. An advanced degree in a business or quantitative discipline is preferred. Experience in Tableau is preferred.
Knowledge and Skills:
Intermediate written and oral communications skills. Under little to no oversight, presents findings and assessments concerning complex supervisory matters or institutions; demonstrates ability to discuss complex issues with any stakeholder either within or outside the Division; may assist others in their communication to achieve a consistent message, tone, style and format; diffuses conflict and builds consensus; actively engages in transferring technical knowledge; demonstrates effective use of listening skills and the ability to manage the communication process.
Intermediate analytical and problem solving skills; uses appropriate diagnostic- and root-cause analysis skills to identify direct and indirect causes of problems of unknown origin; gathers tangible and factual evidence from many sources; recognizes symptoms that may indicate more significant problems or issues; organizes data and information in a manner that effectively communicates issues and underlying causes. Ability to collect and analyze data to track performance of key variables and identify possible sources of emerging risks within the financial sector. Experience working with large datasets using statistical software, such as SAS or Stata, is required.
Intermediate interpersonal skills. Demonstrates the ability to effectively lead a team; draws on experience to resolve complex issues; leverages strategic work relationships and networks to accomplish goals and objectives; encourages and supports other team members to develop productive work relationships.
Intermediate time management skills. Identifies and assesses complex supervisory issues; able to effectively manage complex supervisory issues to achieve supervisory or organizational goals.
Subject to little or no oversight in work performed; Quantitative Analysts are highly motivated individuals who are able to work under moderate supervision and interested in consumer credit or bank risk.
Applicants must be able to provide work authorization to prove their eligibility to work in the United States. An applicant for employment also must be a U.S.
Citizen, U.S. National, or hold a permanent resident/green card with intent to become a U.S.
Note: This document indicates the general nature and level of work performed by employees within this position.
It is not a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job. An employee's responsibilities, tasks, and duties might differ from those outlined in the job description, and other duties, as assigned, are a part of the job. The Federal Reserve Bank of Philadelphia reserves the right to modify the elements of this job description, as business needs require.
The Federal Reserve Bank of Philadelphia believes 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 Bank of Philadelphia is proud to be an equal opportunity workplace.
Federal Reserve Bank