Financial Systems Analyst – Division of Information Technology - R024301

Primary Location : DC-Washington

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Employee Status : Regular

Overtime Status : Exempt

Job Type : Standard

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Relocation Provided: : Yes

Compensation Grade Low: : FR PAY GRADE 23

Compensation Grade High: : FR PAY GRADE 25

Minimum Salary: : $78,800.00

Maximum Salary: : $196,000.00

Posting Date : Mar 13, 2024

Minimum Education

Bachelor's degree or equivalent experience

Minimum Experience

1

Summary

The Financial Systems Analyst (FSA) is responsible for the analysis of System economic, financial and structure data; the development of requirements for automated collection and analysis tools; and the implementation of those tools; and the testing and quality assurance techniques associated with system development. The FSA is expected to have a good understanding of the underlying accounting and economic theories that characterize the Board's regulatory and reporting requirements and should have a sound understanding of data processing capabilities.

Duties and Responsibilities

• Performs primary and backup financial and structure data analysis for data flows and other assigned internal projects. Analyzes reporting series and structure data questions and problems; responds to a range of client inquiries in the areas of regulation, automation, data transactions and structure processing.
• Supports the development of high-level analytical techniques that may include the construction and testing of statistical models to be used for cross-sectional and time-series analysis of data trends, the effects of banking structure changes on economic and financial data, and the improvement and maintenance of the quality of structure data.
• Assists in the development of business rules and report or application formats for distributed, web, and mainframe programmers to use in developing applications or systems.
• Oversees new series and report changes on the systems used for processing a specific reporting series. Contributes to technical memoranda development, reviews existing edits, and recommends improvements in their efficiency and effectiveness. Prepares written requirements and test plans for system software changes.
• Makes decisions regarding data quality and edit resolution. Responsible for preparation of statistical reports, charts, tables, and other materials used by unit and client staff.
• Provides advice and guidance regarding series processing and structure data issues to other analysts regarding automation, editing procedures, and data analysis.
• Ensures that all administrative and internal series processing deadlines are met for the unit.
• Assists in preparing documentation and conducting testing in compliance with System Development Methodology (SDM) requirements.
• Provides technical and data content assistance to users of system software and data submitters from the public.

FR – 23 Position Summary
The Financial Systems Analyst (FSA) is responsible for the analysis of System economic, financial and structure data; the development of requirements for automated collection and analysis tools; and the implementation of those tools; and the testing and quality assurance techniques associated with system development.  The FSA is expected to have a good understanding of the underlying accounting and economic theories that characterize the Board's regulatory and reporting requirements and should have a sound understanding of data processing capabilities. 
FR – 24 Position Summary
The Financial Systems Analyst (FSA) is responsible for the analysis of System economic, financial, and structure data; the development of requirements for automated collection and analysis tools; and the implementation of those tools.  The FSA is expected to have a strong understanding of the underlying accounting and economic theories that characterize the Board's regulatory and reporting requirements and should have a sound understanding of data processing capabilities.  Broad knowledge of statistical and information technology functions. 
FR – 25 Position Summary
The Financial Systems Analyst (FSA) is responsible for the analysis of System economic, financial and structure data; the development of requirements for automated collection and analysis tools; and the implementation of those tools; and the testing and quality assurance techniques associated with system development.  The FSA is a technical expert in all aspects of information processed by the unit and has a high degree of knowledge of the statistics function in the division, at the Board, and in the System. 
FR – 23 Duties and Responsibilities
·         Performs primary and backup financial and structure data analysis for data flows and other assigned internal projects.  Analyzes reporting series and structure data questions and problems; responds to a range of client inquiries in the areas of regulation, automation, data transactions and structure processing. 
·         Supports the development of high-level analytical techniques that may include the construction and testing of statistical models to be used for cross-sectional and time-series analysis of data trends, the effects of banking structure changes on economic and financial data, and the improvement and maintenance of the quality of structure data.
·         Assists in the development of business rules and report or application formats for distributed, web, and mainframe programmers to use in developing applications or systems.
·         Oversees new series and report changes on the systems used for processing a specific reporting series.  Contributes to technical memoranda development, reviews existing edits, and recommends improvements in their efficiency and effectiveness.  Prepares written requirements and test plans for system software changes.
·         Makes decisions regarding data quality and edit resolution.  Responsible for preparation of statistical reports, charts, tables, and other materials used by unit and client staff.
·         Provides advice and guidance regarding series processing and structure data issues to other analysts regarding automation, editing procedures, and data analysis.
·         Ensures that all administrative and internal series processing deadlines are met for the unit.
·         Assists in preparing documentation and conducting testing in compliance with System Development Methodology (SDM) requirements. 
·         Provides technical and data content assistance to users of system software and data submitters from the public.
FR – 24 Duties and Responsibilities
·         Performs primary and backup financial and structure data analysis for data flows and other assigned internal projects.  Analyzes and provides resolution to reporting series and structure data questions and problems; responds to a range of client inquiries in the areas of regulation, automation, data transactions, and structure processing.  Coordinates the development of system parameters for series processing.
·         Develops high-level analytical techniques that may include the construction and testing of statistical models to be used for cross-sectional and time-series analysis of data trends, the effects of banking structure changes on economic and financial data, and the improvement and maintenance of the quality of structure data.
·         Develops business rules and report or application formats for distributed, web, and mainframe programmers to use in developing applications or systems automated programs or systems to support analytical work and the release of public information.  Work may include programming and the development of conceptual design.
·         Drafts technical memoranda changes for series processing; reviews existing edits; and recommends improvements in the efficiency and effectiveness of automated systems.  Prepares written requirements and test plans for system software changes; and, independently develops technical requirements.
·         Makes decisions regarding data quality and edit resolution.  Responsible for preparation of statistical reports, charts, tables, and other materials used by unit, management, and client staff.
·         Provides advice and guidance regarding series processing and structure data issues to other analysts regarding automation, editing procedures, and data analysis.
·         Ensures that all administrative and internal series processing deadlines are met for the unit, such as preparation of status reports, review of Reserve Bank and other regulatory agency performance, and coordination of periodic edit reviews.  
·         Represents unit or branch in client meetings; makes decisions regarding data questions; and participates on task forces and committees, both internal and external to the Board.     
FR – 25 Duties and Responsibilities
·         Performs primary and backup financial and structure data analysis for data flows and other assigned internal projects.  Provides resolution to reporting series, structure information and data collection questions and problems; responds to a wide range of client inquiries in the areas of regulation, automation, data transactions and structure processing.  Organizes planning meetings for new or revised series.
·         Develops high-level analytical techniques that may include the construction and testing of statistical models to be used for cross-sectional and time-series analysis of data trends, the effects of banking structure changes on economic and financial data, and the improvement and maintenance of the quality of structure data.  Develops and reviews standards for data interchange within the Federal Reserve System.
·         Develops business rules and report or application formats for distributed, web, and mainframe programmers to use in developing applications or systems automated programs or systems to support analytical work and the release of public information.  Work may include programming, database design, and conceptual design.
·         Provides assistance and leadership to other analysts and technicians regarding automation, problem solving, and data analysis.  Drafts and reviews technical memoranda changes for series processing.  Independently develops technical requirements.
·         Researches, organizes, and publishes documentation of systems and report requirements for use by Board, Reserve Bank staff, and reporting institutions.  These may include communications standards, technical memoranda and instructions, systems testing plans, implementation schedules, requirements statements, and other information relating to the support of applications processing systems.
·         Ensures that all administrative and internal series processing deadlines are met for the unit, such as preparation of status reports, review of Reserve Bank and other regulatory agency performance, and coordination of periodic edit reviews. 
·         Represents unit, branch, or division in client meetings, makes decisions regarding complex data questions, and participates on task forces and committees, both internal and external to the Board.
·         Prepares schedule of unit work activities so that reports and administrative deadlines are met in a timely, accurate manner.  Conducts periodic reviews of editing and analyses procedures with unit staff and provides the review results to management.
FR – 23 Minimum Qualifications
Strong analytical ability and oral and written communications skills typically acquired through completion of a bachelor’s degree in economics, finance, accounting, information systems or a related discipline, or equivalent work experience.  Strong knowledge of financial/accounting principles relating to System reports, and knowledge of the processing systems that support the statistics function typically acquired through a minimum of six months to one year of related work experience.  Thorough understanding of data processing issues including a good knowledge of computer operations (mainframe, distributed, and web environments), good understanding of telecommunications concepts, and good knowledge of various PC software packages such as SAS, QMF/SQL, and Microsoft Excel.  Thorough understanding of analytical techniques involved in financial data analysis such as ratio analysis, peer analysis, trend analysis, and statistical modeling.  Develops professional skills.  Maintains awareness of evolving information processing technologies and financial industry trends through professional publications and outside contacts.  Identifies appropriate directions for professional development and works with other staff and line management to determine appropriate activities to bring about that development.
FR – 24 Minimum Qualifications
Strong analytical ability and oral and written communications skills typically acquired through completion of a bachelor’s degree in economics, finance, accounting, information systems or a related discipline, or equivalent work experience.  Substantial knowledge of financial/accounting principles relating to System reports, and of the processing systems that support the statistics function, typically acquired through a minimum of two years of related work experience.  Thorough understanding of data processing issues including a good knowledge of computer operations (mainframe, distributed, and web environments), good understanding of telecommunications concepts, and good knowledge of various software packages such as SAS, QMF/SQL, and Microsoft Excel.  Thorough understanding of analytical techniques involved in financial data analysis such as ratio analysis, peer analysis, trend analysis, and statistical modeling.  Develops professional skills.  Maintains awareness of evolving information processing technologies and financial industry trends through professional publications and outside contacts.  Identifies appropriate directions for professional development and works with other staff and line management to determine appropriate activities to bring about that development.
FR – 25 Minimum Qualifications
Strong analytical ability and oral and written communications skills typically acquired through completion of a bachelor’s degree in economics, finance, accounting, information systems or a related discipline or equivalent work experience.  Extensive knowledge of financial/accounting principles relating to System reports and of the processing systems that support the statistics function, typically acquired through a minimum of three years of related work experience, thorough understanding of data processing issues including a good understanding of computer operations (mainframe, distributed, and web environments), good understanding of telecommunications concepts and thorough knowledge of various software packages such as SAS, QMF/SQL, and Microsoft Excel.  Thorough understanding of analytical techniques involved in financial data analysis such as ratio analysis, peer analysis, trend analysis and statistical modeling.  Develops professional skills.  Maintains awareness of evolving information processing technologies and financial industry trends through professional publications and outside contacts.  Identifies appropriate directions for professional development, and initiates activities to bring about that development.  Conducts research in information processing in areas relevant to division or Board needs and communicates the results of these activities to others.
This position is for the IT Financial Statements unit within Board IT Statistics whose main responsibility is supporting the collection of bank holding company regulatory reports (i.e., FR Y-9C) which are primarily used to monitor the safety and soundness of a reporting institution’s financial activities.
The IT Financial Statements unit is part of the Federal Reserve’s Statistics Function – a national business line that collects financial, banking structure, survey, and contextual information and provides data management services to ensure information is fit for use.  New employees may participate in a local Board IT Statistics rotation program that would provide the employee an in-depth engagement with all Board IT Statistics units to develop their knowledge and expertise of the Statistics business line. A new employee’s exposure and engagement within Board IT Statistics would ensure a thorough knowledge and understanding of Board Statistics’ processes and procedures for providing services to stakeholders, performing program management support, and directing the national business line.
The Financial Systems Analyst is responsible for performing financial and structure data analysis for financial institution reported data. The analyst is responsible for implementing new data collections and managing changes to existing data collections, which includes developing quality assurance checks and methodologies, drafting business operational procedures, providing written business requirements for automation tools and testing the business requirements, and recommending improvements/ enhancements to the data collection and/or data collection processes. Thorough understanding of information processing issues and environments (e.g., distributed and web), and good knowledge of various software such as SAS, SQL, Tableau, Python, R, and Microsoft Excel are desirable.  Thorough understanding of analytical techniques involved in financial data analysis such as ratio analysis, peer analysis, trend analysis, and statistical modeling is desired. Maintaining awareness of evolving information processing technologies and financial industry trends through professional publications and outside contacts is required.
 
This position is hybrid, requiring a combination of telework and in-office presence in Washington, DC