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Operational Risk Analyst I

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 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, robust benefits, and a work-life balance.

Position Summary

The Operational Risk Management Department (ORM) is responsible for the direction, oversight, and reporting of operational risk management activities throughout the bank to comply with requirements established by the Federal Housing Finance Agency (FHFA) and Bank policy. ORM provides tools and guidance to ensure business lines comprehensively and accurately identify, measure, monitor, and control operational risks.

This position is responsible for supporting Senior Analysts, the Operational Risk Manager and Director of Operational Risk Management in executing the mission of the department through activities which implement policies and procedure or monitor and report on operational risk management throughout the Bank.

The ideal candidate will be a self-starter with a desire to actively contribute to a team. Solid interpersonal skills, coupled with effective communication techniques, must be demonstrated, along with the ability to meet competing deadlines.

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.

This opportunity is ideal for someone with up to 4 years of relevant experience and seeking to grow their career in Operational Risk.

Specific Responsibilities

· Build awareness of the Bank’s risk management framework by effective communication and training.

· Collect and analyze data to create risk metric reporting for the Board of Directors and Operational Risk Committee.

· Review End-user Developed Applications (EUDAs) for compliance to Bank policy; maintain associated data and systems used in the EUDA Compliance Program.

· Coordinate meetings to analyze operational risk events including maintaining documentation, tracking improvement recommendations, and updating data systems that facilitate trend analysis and reporting.

· Coordinate, analyze, and report on the results of prospective operational risk-related surveys with business units.

· Support the completion of business unit-specific risk and control self-assessments and annual enterprise assessment reviews.

· Support the collection, compilation, and use of risk quantification data within the operational risk modelling process.

· Work with Operational Risk Manager and Director, Operational Risk Management to establish independent risk measurement, monitoring and reporting processes throughout the Bank.

· Ensure the operational risk management standards, policies and procedures throughout the Bank are adhered to.

· Assist in the development of new operational risk management standards, policies and procedures to ensure compliance with regulations, advisory bulletins, and overall corporate guidance on risk activities.

· Other duties, as assigned.

Knowledge/Skills

· Strong analytical skills and advanced proficiency with Microsoft Excel required.

· Familiarity with Microsoft Access, database query tools, Power BI, Python, and/or other desktop technology.

· Excellent organizational skills.

· Strong written and oral communication skills with experience performing in a team-oriented environment.

Education

· Degree in finance, economics, or a related field or equivalent work experience.

Experience

· One (1) to Four (4) years of recent or current work experience in risk management or auditing within financial services preferred; Internship experience counts.

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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