Collateral Analyst

Job Description

CompanyFederal Reserve Bank of Richmond

When you join the Federal Reserve—the nation’s central bank—you’ll play a key role, collaborating with a dynamic and diverse team of mission-driven professionals to strengthen and protect our economy and our communities.
Bring your passion and expertise, and we’ll provide the opportunities that will challenge you and propel your growth—along with a wide range of benefits and perks that support your health, wealth, and life. In addition to competitive compensation, we offer a comprehensive benefits package that includes tuition assistance, generous paid time off, top-notch health care benefits, child and family care leave, professional development opportunities, a 401(k) match, pension, and more. All brought together in a flexible work environment where you can truly find balance.

About the Opportunity

The Supervision, Regulation & Credit Department (Credit Risk Management and Reserves Unit) is hiring a Collateral Analyst to plan and conduct assignments involving collateral (loans and securities) pledged to the Federal Reserve Bank directly and in our fiduciary role for the U.S. Treasury. The position is located in Richmond, VA and will report to the Regulatory Risk Management Manager.

What You Will Do:

• Perform risk surveillance and operational monitoring of an assigned portfolio of institutions pledging collateral. Surveillance may include assessing key drivers of changes in collateral valuations and effectively communicating these changes to DIs; projecting the potential valuation impacts of changes in the economy, business environment, or FRS policies; evaluating the pledged collateral against existing or potential risk exposures.
• Participate/lead BIC reviews for institutions of varying complexity to ensure that collateral pledged by Fifth District depository institutions meet eligibility requirements and assists on or takes the lead role for reviews of BIC arrangements, to include preparing the scope of the review, assigning tasks to participants, meeting with depository institution management to present findings and preparing the summary report and institution rating.
• Review and update/process collateral pledged to the Bank via monthly revaluation reports submitted by depository institutions on a shared basis with other analysts; receive loans pledged by problem depository institutions; review documentation for eligibility; work with depository institution management to resolve discrepancies; file, track, and return loans to pledging institution upon request.
• Review new collateral pledges for acceptability and approves releases of collateral as requested by depository institutions; monitors pledged collateral on an ongoing basis to ensure continued eligibility.
• Interact with bankers, attorneys, and staff from other departments within the Bank to obtain additional information, respond to inquiries, analyze documentation or resolve issues; protects the Bank’s interest in certain collateral by tracking and maintaining Uniform Commercial Code filings and working with Legal to prepare legal release agreements with the FHLB to ensure the Bank’s position is perfected to the extent possible.
• Apply collateral knowledge as a participant in System work groups and may take a lead role in select segments of larger projects and moderately complex System assignments.
• Prepare briefing material and documentation for management’s use at both internal meetings and meetings with depository institutions; gives presentations to external audiences; performs ad hoc projects requiring planning, research, analysis, and recommendations for management.
• Process collateral transactions to pledged accounts and reconcile/settle end of day collateral activity versus the Collateral Management System; may process transactions with the Depository Trust Corporation (DTC), as needed.
• Conduct risk, valuation, and trend analytics on pledged collateral in assigned portfolio.
• Maintain collateral held on the Reserve Bank premises.
• Perform additional duties and special analytical studies as assigned.

Qualifications:

• 1 to 9+ years of relevant work experience
• Bachelor’s degree in finance, accounting or economics required; Master’s degree in related field (preferred)
• Attention to detail with a high level of data integrity and accuracy
• Strong oral and written communication skills
• Strong interpersonal skills and ability to work with people at all levels of the organization.

Other Requirements and Considerations:

• Candidates should review the Bank’s Employee Code of Conduct to ensure compliance with conflict of interest rules and personal investment restrictions.
• If you need assistance or an accommodation due to a disability, please notify [email protected].
• Employees who work at and/or visit another Federal Reserve entity or outside business as part of their job duties are required to comply with any onsite safety and health protocols of those organizations (including, but not limited to, requirements to vaccinate or test, mask, social distance, etc.).
• Sponsorship is not available for this role. The selected candidate will be subject to a government security investigation and must meet eligibility requirements for access to classified information. Eligibility for this specific position requires U.S. Citizenship or three or more years of Permanent Resident (Green Card) status.
• The hiring range of the Analyst-Collateral-Assoc is $57,700 – $72,100 annually.
• The hiring range of the Analyst-Collateral-Intermediate is $69,600– $87,000 annually.
• The hiring range of the Analyst-Collateral-Senior is $95,000 – $118,700 annually.

• Salary offered will be based on the job responsibilities and the individual’s knowledge, skills, and experience as defined in the job qualifications.
• The Fifth District provides a hybrid work environment. This position is required to be onsite on Tuesday, Wednesday, and Thursday each week.

Full Time / Part TimeFull time

Regular / TemporaryRegular

Job Exempt (Yes / No)Yes

Job CategoryMarkets Family Group

Work ShiftFirst (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.

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