Company

　　Federal Reserve Bank of San Francisco

　　We are the San Francisco Fed, public servants with a congressionally mandated mission to advance the nation’s monetary, financial, and payment systems to build a stronger economy for all Americans. We are a community-engaged bank, and we are committed to understanding and serving the vibrant, diverse people of the Twelfth District. That means we seek and appreciate new perspectives. We respect people for what they do and for who they are. We build opportunities to learn and grow. When you join the SF Fed, you become part of a team united in its purpose to promote an economy that works for everyone. We empower our people to balance their life and work responsibilities. That’s why we offer a flexible hybrid work model that allows you to collaborate with office colleagues on some days, and work from home on others.

　　The Supervision + Credit (S+C) group is responsible for the supervision and regulation of state member banks, bank holding companies, savings and loan holding companies, financial holding companies, data service providers, trust companies, and foreign banking organizations that operate in the Twelfth District of the Federal Reserve System. Supervised institutions are in all states of the District and range in size and complexity from small community organizations to some of the largest banking organizations in the country.

　　The Quantitative Supervision and Research (QSR) Team within S+C provides quantitative support to the Federal Reserve’s national supervisory programs as well as to supervisory teams within the District’s S+C group. The QSR Team is a key contributor to the LISCC Capital Program, which is the primary supervisory group for capital adequacy, capital planning, and financial risk management and controls at the largest U.S. bank holding companies. In particular, the Team has developed an expertise in counterparty credit risk and contributes both quantitative and qualitative supervisory expertise in this area. The QSR Team is also a key contributor to the Stress Testing Program, which is responsible for creating and maintaining the Federal Reserve’s financial models used in the annual Dodd-Frank Act Stress Testing (DFAST) exercise. Team members hold key roles on various modeling teams, particularly teams responsible for trading risk modeling and securities valuation modeling. QSR team members also provide quantitative expertise in support of quantitative supervisory activities for other large banks within the District.

　　We have an exciting opportunity to add a Senior Quantitative Analyst to the QSR team to support local supervision of the 12th District’s large foreign banking organizations (LFBO). Our ideal candidate has quantitative skills and also possesses some bank examination background. You are an excellent communicator (written and verbal) and are able communicate effectively with technical and non-technical partners.

　　The primary role of a Senior Quantitative Analyst is to provide quantitative expertise to the District’s dedicated supervisory teams (DSTs) in their evaluation and assessment of model risk management at LFBO firms. Generally, the role requires quantitative contributions to LFBO examinations across a range of models, including - but not limited to - CECL, market risk, credit risk, and model risk management. The Senior Quantitative Analyst will evaluate and opine on bank processes regarding model development (such as the support for underlying assumptions) and effective model risk management, including model conceptual soundness, model fitness for purpose, ongoing model performance monitoring, and quality of model validation efforts.

　　Essential Responsibilities:

　　Participate in firm-specific examinations as well as LFBO horizontal and coordinated reviews for various supervisory topics. Develop examination scope and objectives; execute exam procedures; engage S+C and System partners as well as other regulators; and develop supervisory products that provide well-supported conclusions.

　　Act as quantitative risk modeling expert, providing advice to DST examination team leads on the scoping, organizing, and planning of quantitative supervisory topics to be covered in an exam and its expected work products.

　　Work collaboratively with other quantitative specialists, examiners, and supervisory leadership.

　　Prepare and deliver clear, accurate, and concise supervisory messages orally and in writing to quantitative and non-quantitative audiences.

　　Deliver clear supervisory messages to firm management, describing where the firm stands relative to supervisory expectations and expected actions for addressing matters that require attention, as applicable.

　　Contribute to the Capital, Liquidity and Governance and Controls ratings assessments under the LFI Ratings Framework, based on knowledge of the firms model risk management framework and results of supervisory reviews.

　　Build and maintain an expanded level of knowledge and expertise in model risk management and related supervisory guidance, including existing regulatory requirements and guidance from relevant SR letters, proposed rules and guidance from the U.S. regulatory agencies, and standard methodologies identified during Federal Reserve horizontal reviews.

　　Build and maintain effective working relationships with internal partners (i.e., within S+C, across the Federal Reserve System, and at the Board of Governors) and with other regulatory agencies (such as the OCC and the FDIC).

　　Requirements:

　　Master’s degree and/or PhD (preferred) in Economics, Engineering, Finance, Mathematics or similar quantitative related field.

　　Typically requires five or more years of experience in banking, financial industry, or banking supervision; or an equivalent combination of education and experience.

　　Previous work experience in risk modeling, model risk measurement and management, and regulatory capital requirements.

　　Demonstrated experience in credit risk modeling, credit risk management, risk measurement techniques, market-based regulatory capital requirements, and asset pricing.

　　Proficiency in one or more statistical programming languages, especially R.

　　Proficiency in econometric modeling techniques and working with large data sets.

　　Strong communication skills require to communicate and write for non-technical audiences.

　　Well-developed organizational, communication, and collaboration skills.

　　Able to set priorities as well as execute in a timely manner on priorities set by more senior management.

　　Some travel may be required, up to 20% as supplemental support to exam teams.

　　This position requires access to confidential supervisory information, which is limited to “Protected Individuals.” Protected Individuals include, but are not limited to, U.S. citizens and U.S. nationals, U.S. permanent residents who are not yet eligible to apply for naturalization, and U.S. permanent residents who have applied for naturalization within six months of being eligible to do so or who will sign a declaration of intent to apply for naturalization before they begin employment.

　　#LI-Hybrid

　　Base Salary Range: Min: $151,500 Mid: $196,700 Max: $241,900 (Location: San Francisco)

　　Final salary and offer will be determined by the applicant’s background, experience, skills, internal equity, and alignment with geographic and other market data.

　　At the Federal Reserve Bank of San Francisco, we offer a wonderful benefits package including Medical, Dental, Vision, Pretax Flexible Spending Account, Paid Family Leave Care, Backup Child Care Program, Pretax Day Care Flexible Spending Account, Vacation Days, Sick Days, Paid Holidays, Pet Insurance, Matching 401(k), and an unheard-of Retirement / Pension.

　　We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment.

　　At the SF Fed, we believe in the diversity of our people, ideas, and experiences and are committed to building an inclusive culture that is representative of the communities we serve. The SF Fed is an Equal Opportunity Employer.

　　The Bank's ethics rules generally prohibit employees, their spouses/domestic partners, and minor children from owning securities, such as stock, of banks or savings associations or their affiliates, such as bank holding companies and savings and loan holding companies. Employees in the S+C group also must ensure there are no conflicts of interest related to their previous employment and current financial interests. S+C employees may be subject to borrowing and deposit restrictions and may need to recuse themselves from certain supervisory work. Please review Section 5.3 and Appendix B of the Bank’s Code of Conduct to ensure compliance with the Code of Conduct (https://www.frbsf.org/wp-content/uploads/Code-of-Conduct_December-23-2022.pdf) conflict of interest rules and personal investment restrictions.

　　Full Time / Part Time

　　Full time

　　Regular / Temporary

　　Regular

　　Job Exempt (Yes / No)

　　Yes

　　Job Category

　　Monetary And Economic Policy

　　Work Shift

　　First (United States of America)

　　The Federal Reserve Banks believe 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 Banks are committed to equal employment opportunity for employees and job applicants in compliance with applicable law and to an environment where employees are valued for their differences.

　　Privacy Notice (https://www.kansascityfed.org/documents/7797/Workday_Privacy_Notice.pdf)

　　OUR BANK has one of the most recognizable brands around the world. The Federal Reserve is the central bank of the United States—one of the world's most influential, trusted and prestigious financial organizations. The Federal Reserve is charged with the important mission of promoting a strong economy and a stable financial system and fulfills this responsibility by formulating national monetary policy, supervising and regulating banks and bank holding companies, and providing financial services for banks and the U.S. government.

　　OUR PEOPLE are diverse in background and ideas, which allows for ongoing creativity and innovation. Ultimately, they are the ones who push our high-performance, exchange-driven culture forward.

　　Why Our People Choose Us:

　　Our reputation precedes us

　　There will always be room for personal growth

　　Our people are first

　　You’ll find the right balance

　　Your responsibilities will be meaningful

　　We hope that you will be our future colleague.