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 220 is 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 Market Risk Management Team is responsible for the measurement,
reporting and analysis of the Bank’s exposures to interest rates and other factors
affecting market value and projected earnings.
The Risk Analyst II is a key contributor within the Market Risk team, helping the
Bank understand, measure, and communicate its exposure to interest rate risk
and other market-driven factors that affect market value and projected earnings.
This role sits at the intersection of data, modeling, and decision-making,
translating complex risk analytics into clear, actionable insights for senior
leadership and regulators.
The Market Risk Analyst II is responsible for managing and executing key risk
analysis processes, utilizing market risk models to generate accurate and
defensible assessments for management, the Board of Directors, auditors,
regulators, and external rating agencies. The position encompasses hands-on
involvement in safeguarding the integrity of the Bank’s risk models, data, and
assumptions, while delivering high-quality evaluations of exposures and
sensitivities across the balance sheet, portfolios, counterparties, and individual
transactions. Combining structured production tasks with analytical problem-solving, the Analyst provides both recurring and ad hoc quantitative and qualitative analyses, offering insightful commentary on market conditions, balance sheet trends, and emerging risks.
Additional responsibilities include maintaining risk analysis systems through model back-testing, benchmarking,
and production controls, enhancing methodologies and assumptions, producing
and validating core risk reports to support governance and management
discussions, and upholding robust documentation and control procedures to
ensure the availability of timely and accurate risk information.
The ideal candidate is a proactive self-starter with a solid financial and
quantitative foundation, strong communication skills, and the ability to manage
competing priorities in a deadline-driven environment. Experience or
demonstrated aptitude in tools such as Python, SQL, data management, or
related analytics disciplines is highly valued, as you’ll be encouraged to use
these skills to improve efficiency, strengthen controls, and modernize risk
analysis and reporting processes.
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.
Anticipated Pay Range
The anticipated base pay range for this role is $76,500 – $117,000.
This role is based in Boston with weekly in-office expectations. The base pay
posted represents the annual base pay range or hourly wage range that we
expect to offer for this job opportunity. The actual base salary offer will depend
on a variety of factors including relevant experience, required skills and other
relevant factors. The range noted here is not indicative of all positions in the job
grade within which this position falls.
All Bank full-time positions are eligible to participate in our annual incentive
program and our robust total rewards offerings, in addition to the base pay.
For more information, visit Careers – FHLBank Boston
Specific Responsibilities
- Oversee risk analysis model maintenance and updates, including but not
limited to: review and updates of underlying assumptions and
transactional attributes, application of existing data management routines,
and incorporation of current economic and market trends. - Generates representative assessments of the Bank’s risk exposure in its balance sheet, portfolios, counterparties, or specific transactions through modeling the impact of credit, economic, and/or market assumptions and resultant impacts on the Bank’s risk positions.
- Prepares analytical reports used in financial reporting including, but not limited to market value sensitivity, earnings at risk and liquidity risk.
- Create and/or review others’ baseline and stress case results for the Bank’s forecasts of market risk, earnings risk and liquidity risk.
- Prepare and/or review ad hoc and/or formalized modeling analysis of transaction level risk exposure including, but not limited to, hedge effectiveness, proforma structured MBS trades, and liability transactions.
- Support current modeling methodologies across market risk, as well as in general model setup, performance monitoring, version testing, and model upgrades.
- Develop a thorough understanding of market risk production models and processes for the purposes of implementing process enhancements and new analytical techniques
- Identifies key variables in balance sheet, portfolio, and transaction exposures and quantifies sensitivity to changes in key assumptions
- Provides critical analysis of modeling results for purposes of internal validation and explaining risk positions to management
- Provide quantitative and analytical support to senior management as needed
- Formulation and implementation of data handling and automation best practices using programing language, AI-enabled solutions or other related data disciplines.
- Other duties, as assigned
Qualifications
Education
- A four-year degree in finance, accounting, economics, or quantitative
discipline required, with preference towards a graduate degree and/or
CFA program, and strong quantitative/math skills
Experience
- Prefer experience with institutional level Asset Liability Management
software such as PolyPaths or QRM and other vendor models including
Intex, ADCo Bloomberg etc. - Prefer experience in use of database querying and business intelligence
tools such as SQL, PowerBI or AWS QuickSight. Must also be proficient in
the use of MS/Excel for financial reporting, analysis, and graphing. - 3-5 years prior experience in the Financial Services industry with preferred
experience in mortgage modeling, risk modeling, or quantitative modeling.
Knowledge/Skills
- Ability to review associate efforts for accuracy and reasonability
In-depth knowledge of loans, mortgages, money market instruments,
derivatives, debt instruments, security classes including underlying MBS
collateral types and deal structures - In-depth knowledge and understanding of capital markets, trends, and
developments - Skilled in identifying and focusing on key variables within product analytics
- Must have ability to define work initiatives in order to meet internal and
external reporting deadlines - Skilled in summarizing results on large portfolios
- Ability to provide interpretations of the compiled risk reports
- Knowledge of finance and accounting principles
- Understanding of macroeconomic trends
- Must be able to work independently or with a team
- Intermediate skills with Python, SQL, Power BI or related disciples.
- Basic familiarity with machine learning, statistics, and probability theory.
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.
Applications are being accepted on the Careers page of our website: www.fhlbboston.com
