Quantitative Risk Analyst
At First Republic, we care about our people. Founded in 1985, we offer extraordinary client service in private banking, private business banking and private wealth management. We believe that personal connections are everything and our success is driven by the relationships we form with our colleagues and clients. You’ll always feel empowered and valued here.
Incredible teams doing exceptional work, every day
The Audit, Risk, Compliance and Legal groups support First Republic’s business objectives by systematically improving the effectiveness of its risk management, control and governance processes. We own and administer these processes while educating our colleagues to best support them. Our mission is to promote a culture of compliance and to be the best partner we can to our business stakeholders.
Duties and Responsibilities
As the Enterprise Risk Management (ERM) Quantitative Risk Analyst, you bring your passion for data and data visualization to the team. Your inquisitive nature and ability to develop strong relationships enables you to be the “go-to” resource in the ERM organization for data analysis projects. Your reach and impact extends beyond ERM including financial, operational and strategic risks, as well as with other departments and business lines to produce analytics that support risk assessments and decision making. Your knowledge and understanding of data visualization enables you to present your analysis in visually appealing and impactful ways to influence risk decision makers. This position reports directly to the ERM Risk Analytics Director.
What you’ll do as an ERM Quantitative Risk Analyst:
- Risk Metrics Analysis and Visualization
- Working across ERM with Risk Officers and key 1st Line of Defense representatives, you manage the suite of risk metrics and dashboards which are used to monitor and escalate risk information to Senior Management and the Board, including metrics in the Bank’s Risk Appetite Statement and Key Risk Indicator dashboards. Your key responsibilities include:
- Working with metric owners and the ERM team to keep metrics current, ensuring a robust rationale, supported by data analysis, exists for all metrics and their threshold levels
- Calibrating risk metric limits and thresholds through statistical analysis of underlying data sets
- Developing, managing and updating the risk metric dashboards using Tableau
- Maintaining the inventory of Risk Appetite Statement Metrics and Key Risk Indicators and their changes and evolution over time
- Supporting the ERM Risk Analytics Director and the Risk Officers in identification of forward looking risk metrics to support monitoring of new or emerging risks within the firm
- Data Analysis
- Leverage your passion for data and advanced analytic skills to retrieve data from key Bank data repositories for risk metric analysis and other activities to support the ERM team including:
- Support the ERM Risk Analytics Director and Risk Officers in performing ad-hoc analysis on risk-specific situations, including researching causes of risk appetite or key risk indicator threshold/tolerance breaches
- Analyze significant risks in the enterprise risk inventory and support Risk Officers with risk analysis and quantification through quantitative or scenario analysis
- Create dashboards and present your analysis using Tableau
- Enterprise Risk Inventory
- Support the ERM Risk Analytic Director and Risk Officers in the maintenance of the enterprise risk inventory including:
- Periodic review of business line risk events to ensure that they are relevant and accurate and ensuring that these risk events are captured in the Archer GRC application
- Support the execution of the annual risk inventory workshops, including preparing meeting materials, performing deep dives, identifying risk metrics associated with risk events in the enterprise risk inventory, documenting meetings through meeting minutes, and following up on action items identified during the workshops
- Performing ad-hoc reviews of the risk events in the enterprise risk inventory to support effective risk identification and assessment
- Participate in developing new functionality within the Archer GRC application
- Proactively support the Enterprise Risk Management (ERM) Team
- Working collaboratively with all members of the ERM team to support the evolution of the ERM program
- Juggle multiple competing priorities while responding timely and accurately to ad hoc analysis requests from CRO, Risk Officers, other firm executives and regulators
You could be a great fit if you have:
- A bachelor’s degree in computer science, engineering, mathematics or a related field preferred; MBA or MS degree preferred but not required
- Banking experience is a plus but a candidate that can clearly articulate the transferability of out of industry skills will be considered
- Prior experience in risk management or risk assessment experience at a financial institution or in consulting preferred
- Ability to work with databases and write queries using SQL
- Experience with programming in prototyping languages like python and statistical experience with languages like R are a plus
- Experience using Tableau data visualization tool
- Communications and/or training experience
- Excellent verbal and written skills
- Team player
- Provides extraordinary service
- Furthers the First Republic Bank culture and values
- Must be able to review and analyze data reports and manuals; must be computer proficient.
- Must be able to communicate effectively via telephone and in person.
- Must be able to travel as position requires.
- May be required to lift 25-50 lbs.
Own your work and your career — apply now
Are you willing to go the extra mile because you love what you do and how you can contribute as a team? Do you want the freedom to grow and the opportunity to take charge of your own career? If so, then come join us.
We want hard working team players. You’ll have the independence to learn, lead and drive change. A culture of extraordinary service, empowerment and stability — that’s the First Republic way.
We believe that a diverse range of backgrounds and ideas has and will continue to be fundamental to the future success of First Republic.
If you are curious to learn more about this opportunity, we'd love to hear from you.
This job description is not intended to be all-inclusive. Employee may perform other related duties as assigned to meet the ongoing needs of the organization. The Company is an equal opportunity employer. In this regard, the Company makes reasonable accommodations for qualified applicants and employees with disabilities in order to enable them to perform all essential job functions, unless doing so creates an undue hardship.
First Republic is subject to federal laws that restrict the employment of individuals with certain types of criminal histories, including FDIA Section 19 and FINRA. To the extent not inconsistent with our obligations under those federal laws and regulations, First Republic will consider qualified candidates with criminal histories in a manner consistent with the Los Angeles and San Francisco ban-the-box laws.
For New York City-based roles: Mayor Bill de Blasio announced that, effective December 27, 2021, all private sector employers?in New York City will be required to ensure that their employees are vaccinated against COVID-19 to attend work in the office. Reasonable Medical or Religious Accommodations may be requested if applicable to you. Please view New York’s Guidance on Accommodations for Workers for more information.