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Federal Reserve System Examiner II/Sr- Large Banking Organization in Cleveland, Ohio

Company

Federal Reserve Bank of Cleveland

All employees must be fully vaccinated against COVID-19 which includes receiving a COVID-19 vaccine booster or qualifying for an accommodation from the Bank’s COVID-19 Vaccination Policy; individuals who are unable to be vaccinated due to a medical condition or sincerely held religious belief may request an accommodation from the Bank.

The Federal Reserve Bank of Cleveland has an excellent opportunity for a motivated individual to be a member of a Large Banking Organization (LBO) Dedicated Supervisory Team (DST). The DST is responsible for supervising the safety and soundness of a Pittsburgh based LBO. The position will be responsible for oversight of the LBO’s money transmitter business, as well as other nonbank entities. The individual will work collaboratively with risk specialists to assess the risks and effectiveness of risk management practices for the money transmitter and other nonbanking entities. The individual will also support the DST’s assessment of the LBO’s operational risk management program and participate on coordinated and horizontal reviews.

As part of the role, the individual will be responsible for (1) identifying risks, evaluating compliance with banking laws and regulations, and conducting forward-looking assessments through horizontal and firm-specific reviews and monitoring activities (focused on financial and operational resiliency of the supervised firm); (2) assessing the firm’s internal audit practices and related governance and controls; and (3) communicating review results and supervisory assessments to bank management, Reserve Bank Leadership, Federal Reserve System Leadership, and/or other regulators. A background in operational risk management is preferred but not required.

This position requires access to confidential supervisory information and/or FOMC information, which is limited to "Protected Individuals" as defined in the U.S. federal immigration law. Protected Individuals include, but are not limited to, U.S. citizens, U.S. nationals, and U.S. permanent residents who either are not yet eligible to apply for naturalization or who have applied for naturalization within the requisite timeframe. Candidates who are not U.S. citizens or U.S. permanent residents may be eligible for the information access required for this position and sponsorship for a work visa, and subsequently for permanent residence, if they sign a declaration of intent to become a U.S. citizen and meet other eligibility requirements.

In addition, all candidates must undergo an enhanced background check and comply with all applicable information handling rules, and all non-U.S. citizens must sign a declaration of intent to become a U.S. citizen and pursue a path to citizenship.

Essential Accountabilities

  • Lead and/or participate on large complex financial institution examinations and assignments including horizontal and coordinated reviews of a portfolio of firms. Assess risk, alignment with regulatory standards, and compliance with laws and regulations relating to complex areas such as capital and liquidity planning and positions, management of core business lines, corporate governance, internal controls, and independent risk management practices. When serving as lead (e.g. Examiner-in-Charge), demonstrate effective leadership in the planning and execution of reviews, including effective coordination and oversight of a team of examiners with safety and soundness and/or risk specialty skills and ability to provide critical performance feedback.

  • Evaluate condition and risks in conjunction with regulatory guidelines to effectively influence the supervisory plan and execute supervisory activities.

  • Identify and analyze weaknesses and communicate findings to various internal/external stakeholders (e.g. Reserve Bank management, Federal Reserve System management, bank senior management and board of directors, and/or other regulators).

  • Prepare clear and concise written analysis and other supervisory work products incorporating micro and macro risks and trends with minimal oversight.

  • Strong ability to monitor and understand risks at the institution specific level, portfolio level (across a group of firms) and of the broader financial system and financial markets. Additionally, demonstrate sound ability to understand risks and findings from specialty or technical areas, including interconnectedness of risks across disciplines. Demonstrate ability to apply such understanding and incorporate in supervisory assessments, conclusions, and ratings.

  • Demonstrate learning agility and ability to effectively manage through ambiguity when faced with new or evolving supervisory topics and regulations and/or managing problems/situations that do not have clear solutions or outcomes, etc.

  • Develop and maintain effective communication and working relationships with key internal/external stakeholders (e.g. bank management and directors, other regulatory counterparts, Board of Governor’s representatives).

  • Participate or lead efforts to advance Reserve Bank or System operational or strategic initiatives.

  • Progress in training programs as prescribed.

  • Perform other duties as assigned or requested.

Qualifications - External

Education and Experience

  • Bachelor's Degree preferably in Business Management, Accounting, Finance, Mathematics, Economics, or related field.

  • 7+ years of related work experience for Examiner II or 10+ years of experience for Sr Examiner or commissioned examiner of the Federal Reserve System or other federal banking agency.

  • Intermediate to advanced knowledge of regulations, guidance, procedures, and practices applicable to firms over $100 billion total consolidated assets preferred.

  • Intermediate to advanced ability to perform independent research and utilize analytical tools.

  • Intermediate knowledge of large bank strategy and operations.

  • Intermediate risk identification and risk assessment capabilities.

  • Intermediate financial reporting and analysis capabilities.

  • Intermediate knowledge of project management.

  • Sound decision quality, problem solving, and analytical skills.

  • Sound ability to work through complexity and ambiguity, ensure accountability, value differences, and provide balanced performance feedback. Proven organizational, time management, written/oral communication, interpersonal, collaboration, self-awareness, and business optimization skills.

  • Must be willing to travel up to 10% of the time if living in Southwestern Pennsylvania or up to 40% if residing in other communities within Federal Reserve System’s Fourth District. Travel requirements are balanced with flexible work arrangements.

Employees typically sit most of the day, work with a computer and may answer/respond to phone calls. Physical movement consists of walking for meetings, breaks, etc. Ability to lift items weighing approximately 20 pounds on a limited basis is required. Employees may be required to travel by car/air.

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

Yes

Job Category

Work Shift

First (United States of America)

The Federal Reserve Banks believe that diversity and inclusion among our employees is critical to our success as an organization, and we seek to recruit, develop and retain the most talented people from a diverse candidate pool. The Federal Reserve Banks are committed to equal employment opportunity for employees and job applicants in compliance with applicable law and to an environment where employees are valued for their differences.

Privacy Notice (https://www.kansascityfed.org/documents/7797/Workday_Privacy_Notice.pdf)

OUR BANK has one of the most recognizable brands around the world. The Federal Reserve is the central bank of the United States—one of the world's most influential, trusted and prestigious financial organizations. The Federal Reserve is charged with the important mission of promoting a strong economy and a stable financial system and fulfills this responsibility by formulating national monetary policy, supervising and regulating banks and bank holding companies, and providing financial services for banks and the U.S. government.

OUR PEOPLE are diverse in background and ideas, which allows for ongoing creativity and innovation. Ultimately, they are the ones who push our high-performance, exchange-driven culture forward.

Why Our People Choose Us:

Our reputation precedes us

There will always be room for personal growth

Our people are first

You’ll find the right balance

Your responsibilities will be meaningful

We hope that you will be our future colleague.

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