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Data and Risk Management Analyst

Company: State of Massachusetts
Location: Boston
Posted on: November 23, 2020

Job Description:

_All applicants should attach a cover letter and resume to their online submission for this position._The Division of Banks (DOB) is currently accepting applications for the position of Data and Risk Management Analyst. The filling of this position is subject to appropriation and obtainment of all necessary approvals from the Office of Consumer Affairs and Business Regulation and the Executive Office for Administration and Finance. The DOB reserves the right not to fill this position without notice. This position will report directly to the Commissioner of Banks.The Data and Risk Management Analyst serves as an agency-wide resource providing agency staff and other stakeholders with data analytics including insight and support to drive business and supervision strategy and decisions. The mission of the DOB is to ensure a sound, competitive, and accessible financial services environment throughout the Commonwealth. The DOB maintains public confidence in Massachusetts financial institutions through the oversight of state-chartered banks and credit unions and the supervision and licensing of mortgage loan originators; the mortgage lending, brokering, servicing industries; and the money services business, sales finance, and debt collection industries operating in Massachusetts.This position provides critical support to the overall success of the Division by providing valued input to assist in the data analysis, risk assessment, trend identification, and supervisory or strategic response by the agency. This position is pivotal in that it detects emerging or problematic industry trends early and is, therefore, key to developing remedial and risk assessment strategy covering all industries regulated by the Division. The Analyst works with management to understand data needs and requirements in order to conduct a range of analytical, advisory, and reporting activities in support of agency and unit operations and policy initiatives. This includes reviewing and analyzing complex data, recognizing trends, and assessing risks as applicable to depository and non-depository regulated entities. The Analyst monitors and reviews emerging industry and market trends in the agency---s jurisdictional areas and provides summary updates to management to assist in identifying and prioritizing existing and developing risk areas for enhanced regulatory focus. The Analyst leads and participates in relevant working groups within the agency and in coordination with other regulatory or industry groups. The Analyst recommends and develops tools and cross-agency guidance and trainings to assist staff, and the industry in recognizing and mitigating risks.This Analyst reports to the Chief Risk Officer and interacts with and receives guidance from the First Deputy Commissioner, Senior Deputy Commissioners, and Deputy Commissioners across the agency. The Analyst will coordinate with all unit managers to understand data resources, needs, and verify accuracy of information.Incumbents in this position must be knowledgeable on a variety of subject areas, and have extensive industry or regulatory experience as they are relied upon to a substantial degree by senior staff at the Division. It is essential that the incumbent be able to communicate identified problems, trends, and recommend solutions and/or guidance.The Analyst position is located at the DOB---s main office at 1000 Washington Street, Boston, MA. The position may require some travel within the Commonwealth and occasional travel out-of-state to attend trainings and conferences or represent the agency.Necessary Experience: Experience with VBA and MySQL for Excel, as well as familiarity with data visualization using Tableau, PowerBI, Shiny, or other dashboarding tools; Familiarity with the financial services industry including but not limited to banks, credit unions, mortgage companies, loan servicers, finance companies, money transmitters, and debt collectors. Experience in data models and reporting packages; Ability to analyze large datasets and an analytical mind with an inclination for problem-solving; Proven ability to give meaning, insight, and purpose to information to drive business decisions; Ability to write comprehensive reports including strong verbal and written communication skills; Independent commitment and ability to carry out job duties independently on a daily basis without direct supervision. Attention to detail; Advanced in Excel, Word, and PowerPoint. Knowledge of the regulatory examination function and principles of compliance management systems, including risk assessments of institutions; Knowledge of state and federal banking laws, regulations, and related guidance and interpretations; Knowledge of the bank examination reports and familiarity with their unique software platforms ; Knowledge of principles and practices of management, including planning, organizing, directing, motivating, controlling, and decision making; Knowledge of the principles, practices, and techniques of supervision; Knowledge of the principles and practices of financial management; Ability to plan, organize and control the use of staffing resources, equipment, and budgetary resources to achieve departmental goals and objectives; Ability to coordinate the efforts of others in accomplishing assigned work objectives; Ability to write concisely, to express thoughts clearly, and to develop ideas in logical sequence; Ability to give written and oral instructions in a precise, understandable manner; Ability to resolve personnel conflicts effectively; Ability to delegate authority effectively; Ability to adjust to changing situations to meet emergency or changing program or production requirements, and ability to manage multiple tasks simultaneously.Primary Duties: Serve as an agency-wide resource to review and analyze complex data, trends, and risk assessments related to supervision and regulatory matters. Provide analysis and recommendations regarding emerging industry trends to focus the Division as necessary on priority risk areas. In the context of risk analysis and identifying industry trends, tasks to include: working with the units to establish business needs; defining new data collection and analysis processes; identifying relevant data sources; analyzing data and results; identifying patterns and trends; and compiling and reporting results to relevant stakeholders. The role involves management, technology, training, administrative, and project-related tasks. Recommends to senior staff supervisory and remedial tools and guidance to be issued with regard to regulated entities based upon an in-depth and detailed data analysis including, but not limited to, review of emerging supervisory trends, regulatory action and complaint data, and examination and report analysis. The incumbent participates with the Deputy Commissioners, Chief Directors, Regional Field Managers, and senior examination staff in providing regulatory recommendations or guidance. Plays a key role in the review and analysis of complex data and records presented through supervisory findings or upon request of Division Managers and examination staff for review of a particular subject matter or risk area. Regulated entities must be examined, by law, to assess their compliance posture and adherence to applicable laws and regulations. Participates on the Strategic Planning Committee to provide leadership as well as input and suggestions based on data analysis, risk assessments, and emerging areas on the future direction of the agency. The Analyst will compile and analyze agency production metrics, monitor and track unit and agency accomplishments, and provide recommendations, as appropriate, to

Keywords: State of Massachusetts, Boston , Data and Risk Management Analyst, Professions , Boston, Massachusetts

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