Market Risk Analyst I (entry-level)

Location Boston

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The Federal Home Loan Bank of Boston is a leading provider of wholesale funding for housing and community finance in New England serving more than 420 financial institutions across the region. 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 helps 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 220 is 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, robust benefits, and a work-life balance.

Position Summary

This position has two (2) openings: one role will report to the Manager of Market Valuation, and the other will report to the Manager of Income Simulation and Liquidity Risk. The Bank does not sponsor employment for entry-level roles.

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 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, and the Federal Housing Finance Agency. 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. More time will be expected in the office to support onboarding initially.

Anticipated Pay Range

The anticipated base pay range for this role is $62,050 - $94,900. This role is classified as non-exempt.

This role is based in Boston with weekly in-office expectations. The base pay posted represents the annual base pay range or hourly wage range that we expect to offer for this job opportunity. The actual base salary offer will depend on a variety of factors including relevant experience, required skills and other relevant factors. The range noted here is not indicative of all positions in the job grade within which this position falls.

All Bank full-time positions are eligible to participate in our annual incentive program and our robust total rewards offerings, in addition to the base pay.

For more information, visit Careers - FHLBank Boston (https://www.fhlbboston.com/about-us/careers/)

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

Other duties, as assigned

Qualifications

Education

A four-year degree in finance, accounting, economics, or quantitative discipline required. Graduate degree and/or CFA program or equivalent combination of education and experience is a plus

Experience

1-3 years prior experience in the Banking / Financial Services industry with preferred experience in risk modeling / analysis. Internship experience counts!

Prefer experience in use of database query and reporting tools such as PowerBI. 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 or other large scale commercially available financial risk management applications

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

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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Federal Home Loan Bank of Boston jobs

Market Risk Analyst I (entry-level)