Job Information
Federal Reserve Bank Hourly in United States
Company
Federal Reserve Bank of Cleveland
The Federal Reserve Bank of Cleveland is part of the nation’s central bank and we’ve provided many opportunities for professional growth during our history.
We’ve been named “One of Northeast Ohio’s Best Places to Work” by North Coast 99. This prestigious award honors organizations with outstanding employment practices, including compensation, benefits, training, recruitment, retention, community services, and employee communications.
Our People Make the Difference! The Federal Reserve Bank of Cleveland is seeking innovative thinkers with vision to build the framework that will carry the Bank into the future.
Follow us on LinkedIn, Twitter, Instagram, and our YouTube channel – Cleveland Fed
This position requires access to confidential supervisory information and/or FOMC information, which is limited to "Protected Individuals" as defined in the U.S. federal immigration law. Protected Individuals include, but are not limited to, U.S. citizens, U.S. nationals, and U.S. permanent residents who either are not yet eligible to apply for naturalization or who have applied for naturalization within the requisite timeframe. Candidates who are not U.S. citizens or U.S. permanent residents may be eligible for the information access required for this position and sponsorship for a work visa, and subsequently for permanent residence, if they sign a declaration of intent to become a U.S. citizen and meet other eligibility requirements.
In addition, all candidates must undergo an enhanced background check and comply with all applicable information handling rules, and all non-U.S. citizens must sign a declaration of intent to become a U.S. citizen and pursue a path to citizenship.
Serves in an intermediate level capacity within Credit Risk Management core functions, including Discount Window, Reserves, and Payment System Risk as well as financial analytics related to assessing the condition of depository institutions and collateral. Provides recommendations for mitigating risk to department and/or Bank management and supports the Credit Risk Management Committee.
Essential Accountabilities
Ensures the daily operations of key functions are conducted consistently with established policy, procedure, and prudential risk and control requirements.
Participates on department, Bank and FR System workgroups to enhance processes or policies, responds to emerging issues and develops and maintains positive working relationships with all levels of the department, Bank, and FR System.
Advises and/or counsels somewhat complex and/or problematic district depository institutions, researches and provides recommendations of a complex nature to internal management, other Reserve Banks, Board staff and others.
Reviews and assesses the level of payment system activity for somewhat complex Fourth District institutions, assists senior level staff with a review of moderately complex and complex Fourth District institutions, and makes recommendations to Bank management on appropriate collateral requirements to safeguard District.
Assists with the preparation of and occasionally prepares briefings, presentations, recommendations and other communications for key decision-makers regarding matters impacting the Discount Window, Condition Monitoring, Reserves, Payment System Risk and/or Collateral functions.
Assists with and occasionally prepares financial analyses on the condition of somewhat complex and/or problematic district depository institutions for determination of credit risk and condition considerations. Provides quantitative and qualitative recommendations to department and/or Bank management.
Assists with the development of analytical and editing techniques along with data extraction, including querying complex databases and viewing techniques for related data systems, to enhance data analysis, data integrity and data timeliness.
Assists with analysis of financial statements of depository institutions and reviews for liquidity analysis.
Performs other duties as assigned or requested.
Education and Experience
Associate's Degree in Finance, Economics, or related field and 5+ years of related work experience required.
Bachelor's Degree in Finance, Economics, or related field and 3+ years of related work experience required.
Master's Degree in Finance, Economics, or related field and 0-1+ years of related work experience required.
Knowledge and Skills
Intermediate ability to perform independent research
Intermediate knowledge of regulations, procedures and practices of credit risk
Basic knowledge of Microsoft Office
Intermediate problem solving and analytical
Intermediate specialized operational/technical skills
Intermediate written and verbal communication
Intermediate critical thinking
Physical Demands and General Working Conditions
Traditional office environment: Employees typically sit most of the day, work with a computer and may answer/respond to phone calls. Physical movement consists of walking for meetings, breaks, etc. Ability to lift items weighing approximately 20 pounds on a limited basis is required. Addendum as needed: Employees may be required to travel by car/air.
This is a temporary position until beginning of 2025 at the latest
This position is not eligible for benefits
Flexibility to work up to 40 hours per week as needed
“ Always verify and apply to jobs on Federal Reserve System Careers (https://rb.wd5.myworkdayjobs.com/FRS?hiringCompany=7186c32a743f011afe26afcaaf01190c) or through verified Federal Reserve Bank social media channels .”
Full Time / Part Time
Part time
Regular / Temporary
Temporary
Job Exempt (Yes / No)
No
Job Category
Other
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.
Always verify and apply to jobs on Federal Reserve System Careers ( https://rb.wd5.myworkdayjobs.com/FRS ) or through verified Federal Reserve Bank social media channels.
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.
Always verify and apply to jobs on Federal Reserve System Careers (https://rb.wd5.myworkdayjobs.com/FRS) or through verified Federal Reserve Bank social media channels.
