Senior Quantitative Analyst

Federal Reserve Bank Philadelphia , PA 19107

Posted 4 months ago

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.

The Analyst will be an integral part of RADAR's Retail Supervisory Modeling Team (SMT). The Retail SMT has responsibility for projecting losses associated with U.S. retail credit exposure groups (including auto loans, credit and charge cards, first lien mortgage loans, and home equity mortgage loans) for bank holding companies subject to the supervisory stress test (DFAST and CCAR). He/she will perform statistical and econometric analysis to support research, development, and implementation of the retail models in accordance with the development cycle set forth by the Model Oversight Group (MOG). He/she will provide initial and final stress test estimates for each applicable firm, including written explanations of analysis and results, and presentations to the MOG. The Analyst will assist with maintaining model soundness and control documentation in accordance with MOG standards.

He/she will assist the team with model reviews by the Supervisory Modeling Validation (SMV) team, providing explanations and responses to follow-up requests and addressing SMV findings, as appropriate. He/she also assists FR staff on longer-term research projects involving retail lending.

Job Summary :

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 Senior Quantitative Analyst has a strong interest in supervisory processes, banking products and applicable laws and regulations, in addition to an advanced understanding of banking risks and risk management strategies. The Senior Quantitative Analyst serves as an advanced 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.

Analyzing 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.

Leading or 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.

May participate on bank, department, or system projects. Fulfills job duties and responsibilities in conformance with sound safety practices.

Demonstrates effective SRC Core Competency skills for grade and position. Performs other related duties as assigned.



Scope Measurements:


Education and Experience:

Bachelor's degree in a business or quantitative discipline, such as economics, finance, or statistics is required, with a minimum of three to five years of industry experience. An advanced degree in a business or quantitative discipline is strongly preferred.

Knowledge and Skills:

Strong written and oral communications skills. Independently presents findings and assessments concerning highly complex supervisory matters or institutions; demonstrates ability to discuss the most complex issues with any stakeholder either within or outside the Division; assists 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.

Strong analytical and problem solving skills. Demonstrates strong analytical skills; uses appropriate complex to high complex 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 severe 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.

Strong interpersonal skills. Demonstrates the ability to effectively lead a team; draws on experience to resolve complex issues; leads complex and diverse team efforts through technical expertise and leadership/skills of influence; leverages relationships and networks to accomplish goals and objectives; encourages and supports other team members to develop productive work relationships.

Strong time management skills. Identifies and assesses highly complex supervisory issues; able to effectively manage highly complex supervisory issues to achieve supervisory or organizational goals.

Subject to little to no oversight in work performed; may serve as mentor/coach; may coordinate and/or supervise activities of others; applies specific experience and expertise in business line and recommends preferred courses of action to guide management in highly complex matters. Senior Quantitative Analysts are highly motivated individuals who are able to work under moderate supervision and interested in consumer credit or bank risk.

Other Requirements:

Background investigations including drug testing are required for all new hires as a condition of employment, after the job offer is made. Employment may not begin until the Bank accepts the results of the background investigation.

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. Citizen.

Physical Requirements:


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.

icon no score

See how you match
to the job

Find your dream job anywhere
with the LiveCareer app.
Mobile App Icon
Download the
LiveCareer app and find
your dream job anywhere
App Store Icon Google Play Icon

Boost your job search productivity with our
free Chrome Extension!

lc_apply_tool GET EXTENSION

Similar Jobs

Want to see jobs matched to your resume? Upload One Now! Remove
Tax Services Senior Business Tax Advisory Quantitative Services Philadelphia

Ernst & Young LLP

Posted 2 weeks ago

VIEW JOBS 10/1/2019 12:00:00 AM 2019-12-30T00:00 The EY Business Tax Advisory (BTA) Quantitative Services (QS) practice provides cutting-edge solutions to some of the world's largest organizations and middle market and private companies. As a member of our BTA team, you will solve problems, add value and assist companies navigating an increasingly complex post-tax reform environment. As a BTA QS senior, you will have an opportunity to work on some of the most complex tax issues and translating them into effective tax strategies focused on managing the impact tax has on our clients' business. You will be part of the team focused on identifying the various cash tax savings and refund opportunities in the areas of FDII, BEAT and GILTI planning; R&D credits; accounting methods; capitalization and cost recovery; transaction costs; inventory; and others. The opportunity Our market-leading approach combines extensive federal tax experience with compliance and strategic planning, providing clients an integrated service that adds significant value to their tax function. Mentored by nationally recognized professionals, you'll be a trusted business advisor by delivering on our promises to our clients. Additionally, you'll be part of a rapidly growing team that is working with and supporting the EY comprehensive business tax advisory strategy. With the support of some of the most experienced professionals in the business, you can expect to develop your career at EY and build a strong foundation in your tax technical, management, marketing and business skills. Your key responsibilities You will be part of a team serving clients in various public and private industries and sectors. You will have an opportunity to directly interface with our clients and support the day-to-day project management activities by analyzing the client data/information and preparing the commensurate analyses. You will support and actively participate in preparing the tax research memoranda and the related analyses of the pertinent law and regulations, collaborating with the firm subject-matter professionals to analyze the client facts. As part of the BTA practice, you will provide guidance and direction to the associates, support them on various engagements and the related activities. You will also play an important role in delivering client engagements and working directly with BTA managers and partners to serve our clients, develop our people and grow and nurture the One EY culture. Skills and attributes for success * Facilitate delivery of effective approaches to our clients' tax needs * Apply critical and independent thinking to identify new business opportunities * Assist in executing client engagements * Provide timely and high-quality tax research and the related analysis, including preparation of technical memoranda * Proactively manage projects to provide timely delivery of high-quality analysis and client deliverables * Support the development of client relationships * Learn and develop specific client industry and sector knowledge * Help to develop and guide associates by providing actionable performance feedback and making sure team responsibilities are consistent with their developmental goals * Build on technical competence by staying current on trends, developments and technical authorities and applying them to client facts and circumstances * Demonstrate willingness to learn and innovate through application of our current tools and emerging technologies, such as SharePoint, MS Power BI, MS Power Pivot, MS Power Query and Alteryx To qualify for the role, you should possess * Bachelor's degree in accounting, finance or related field, as well as approximately four years of related work experience, or a graduate degree in tax or law and approximately three years of related work experience * A valid US CPA or licensed attorney designation * Experience with preparing tax research and the related analysis * The ability to learn complex tax and industry concepts and apply to specific client scenarios * Good managerial, organizational, project management and verbal/written communication skills * The ability to work well in a team environment and be comfortable supervising teams of EY personnel and client personnel * Business and tax technical writing skills * Proficiency with MS Excel, MS Access and data mining tools Additional desirable skills While not required, candidate should also possess the following qualifications: * Familiarity and/or experience in the areas of the IRS tax controversy and statistical sampling * Experience with current data analytics and visual tools, such as MS Power BI, MS Power Pivot, MS Power Query and Alteryx, etc. * Big 4 comparable experience * Advanced degree such as MST, MSA, JD or LLM What we look for We're interested in tax professionals who are excited about implementing sophisticated types of quantitative analyses, with the confidence and knowledge to think creatively in a constantly shifting environment. If you possess an entrepreneurial spirit, the ability to prioritize across projects and make strong decisions in often uncertain scenarios, this role is for you. What working at EY offers We offer a competitive compensation package where you'll be rewarded based on your performance and recognized for the value you bring to our business. In addition, our Total Rewards package includes medical and dental coverage, pension and 401(k) plans, a minimum of three weeks of vacation plus ten observed holidays and three paid personal days, and a range of programs and benefits designed to support your physical, financial and social well-being. Plus, we offer: * Support and coaching from some of the most engaging colleagues in the industry * Opportunities to develop new skills and progress your career * The freedom and flexibility to handle your role in a way that's right for you About EY As a global leader in assurance, tax, transaction and advisory services, we hire and develop the most passionate people in their field to help build a better working world. This starts with a culture that believes in giving you the training, opportunities and creative freedom to make things better. So that whenever you join, however long you stay, the exceptional EY experience lasts a lifetime. If you can confidently demonstrate that you meet the criteria above, please contact us as soon as possible. Make your mark. Apply today EY provides equal employment opportunities to applicants and employees without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, protected veteran status, or disability status. . Ernst & Young LLP Philadelphia PA

Senior Quantitative Analyst

Federal Reserve Bank