Temporary Role - Operational Risk Business Analyst

Federal Home Loan Bank of Boston (FHLBank Boston) is a leading provider of wholesale funding for housing and community finance serving financial institutions across New England. FHLBank 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 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 We are seeking a long-term temporary assignment. Our need is anticipated to be from November 2024 into or through Summer 2025. There may be the possibility for conversion to a Bank employee if the selected individual has an operational risk background and exceeds performance expectations, but that is not the current need. This description for a temporary assignment is not the full job description for a role in our Operational Risk Management (ORM) 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 and Bank policy. ORM provides tools and guidance to ensure business lines comprehensively and accurately identify, measure, monitor, and control operational risks. This temporary assignment is focused on executing the Detail Review project, which includes process mapping, risk/control mapping, and gap analysis. This role will be working with various Bank functions (initially Bank Operations and Housing & Community Investments), excluding Bank Technology. As part of a team of currently 4, the selected worker will be supporting the Operational Risk Manager and Director, Operational Risk Management in executing the mission of the department through activities to implement procedures to monitor and report on operational risk management throughout the Bank. 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. Specific Responsibilities for a Temporary Assignment Assist business units in the identification of risks and mitigating controls by understanding each area's functions, processes, and workflows. Update the operational risk and control inventory database to compile, analyze, and report on risks and controls at the business unit and bank level. Coordinate the completion of risk and control assessments, related summary documentation, and follow-up actions. Other duties, as assigned. Knowledge/Skills Broad understanding of all bank products and processes including lending, treasury, accounting, and bank operations (payments processing, securities safekeeping, derivatives processing). Ability to analyze and document process workflows to identify risks and mitigating controls. Strong written and oral communication skills with experience performing in a team-oriented environment. Proficiency with Microsoft Office programs, Outlook, SharePoint, and Teams for work assignments and communication is expected. Experience with VISIO a plus. Excellent organizational skills. Education A degree in finance, economics or a related field is preferred or equivalent work experience. Experience Five (5) to Seven (7) years of relevant work experience in financial services, financial consulting or a financial regulatory agency, preferably in a risk management or audit capacity. 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. #J-18808-Ljbffr

Created: 2024-11-15