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Consumer Compliance Supervising Examiner

Federal Reserve Bank of Minneapolis

Federal Reserve Bank of Minneapolis

Legal
New York, NY, USA
Posted on Thursday, August 3, 2023

Company

Federal Reserve Bank of New YorkWorking at the Federal Reserve Bank of New York positions you at the center of the financial world with a unique perspective on national and international markets and economies. You will work in an environment with a diverse group of experienced professionals to foster and support the safety, soundness, and vitality of our economic and financial systems.

The Bank believes in work flexibility to balance the demands of work and life while also connecting and collaborating with our colleagues in person. Employees can expect to be in the office a couple of days per week as needed for meetings and team collaboration and should live within a commutable distance.

What we do:

The Supervision Group of the Federal Reserve Bank of New York (FRBNY) supervises banks in the Second District. The objectives of supervision are to:

  • Evaluate and promote the overall safety and soundness of supervised institutions

  • Ensure supervised institutions’ compliance with relevant laws and regulations, including consumer protection

  • Facilitate the stability of the financial system of the United States

  • Support the growth and stability of the U.S. economy

Supervision is carried out through a combination of methods, including on-site and off-site examinations involving staff dedicated to the supervision of an individual firm and other professionals focused on analytical, policy and risk matters. Supervision is coordinated with other US agencies.

The Consumer Compliance function is responsible for supervisory oversight of consumer protection laws across all portfolios (small, mid-range and large institutions) and evaluates consumer compliance activities at Federal Reserve-supervised financial institutions within the Second District, including both bank holding companies and state member banks. This responsibility encompasses an understanding of and assessment of each firm’s and/or bank’s consumer protection compliance management systems, as well as compliance with specific consumer protection laws and regulations at state member banks, including Fair Lending laws, the Community Reinvestment Act (CRA), and Unfair or Deceptive Acts or Practices.

Your role as the Consumer Compliance Supervising Examiner:

As the Consumer Compliance Supervising Examiner, you will be responsible for evaluating supervised institutions for compliance with consumer protection laws and regulations. Activities include conducting on-site and off-site examinations and inspections, continuously supervising specific institutions, and coordinating with other supervisory agencies and official sector organizations.

The Consumer Compliance Supervising Examiner is responsible for supervising state member banks for compliance with consumer- and community reinvestment laws. Activities include evaluating state member banks based on their performance, assessing compliance by all state member banks with applicable federal consumer financial protection laws and regulations. Activities also include assessing the consumer compliance risk consistent with Federal Reserve policies and procedures.

Core responsibilities include:

  • Independently conducts supervisory activities of large and complex firms as a lead or as an Examiner-in-Charge to determine banking organizations’ compliance with consumer protection laws and regulations, including fair lending and CRA; conducts supervisory activities such as monitoring and completing risk assessments.

  • Performs and supervises risk focused examinations, presents findings, and prepares reports and workpapers that support exam or supervisory findings including communication of findings to the Federal Reserve System stakeholders and senior bank management.

  • Assess compliance risk management programs and practices, internal audits, and internal controls, as well as engage with complex and demanding leadership teams.

  • Strong, independent leadership on Federal Reserve System projects with an ability to represent the Federal Reserve Bank of New York and bring recommendations for policy and/or programmatic changes.

  • Key leadership in developing staff in the examiner commissioning program through providing training and coaching less experienced staff.

What we are looking for:

  • Consumer compliance regulatory and lead examiner experience, with strong organizational skills.

  • Consumer Compliance and CRA examiner commission preferred.

  • Advanced skills in regulatory supervision and consumer compliance matters, including fair lending and history of conducting complex examination work.

  • Possesses and applies both specific and broad knowledge of principles, practices, and procedures regarding consumer protection laws and regulations when completing assignments.

  • Solid leadership skills with the ability to manage a team of examiners during examinations and provide meaningful performance feedback with the ability to execute all supervisory roles to support Consumer Affairs examinations.

  • Exceptional critical thinking skills with the ability to assimilate new information, manage multiple tasks and assess compliance risks.

  • Proven team player with the ability to build collaborative relationships.

  • Strong communication skills (verbal and written), including the ability to clearly articulate supervisory concerns, and key messages to various stakeholders.

  • Agility to engage in changing roles, responsibilities, work processes, and assignments.

Salary Range: $178100 - $207900 / year

We believe in transparency at the NY Fed. This salary range reflects a variety of skills and experiences candidates may bring to the job. We pay individuals along this range based on their unique backgrounds. Whether you’re stretching into the job or are a more seasoned candidate, we aim to pay competitively for your contributions.

Our Touchstone Behaviors—Communicate Authentically, Collaborate Inclusively, Drive Progress, Develop Others, and Take Ownership—help shape the culture of the Bank. They also provide a shared language for how we work together and achieve success, and they set clear expectations for leading with impact at every stage of your career with us. Learn more.

Benefits:

Our organization offers benefits that are the best fit for you at every stage of your career:

  • Fully paid Pension plan and 401k with Generous Match

  • Comprehensive Insurance Plans (Medical, Dental and Vision including Flexible Spending Accounts and HSA)

  • Subsidized Public Transportation Program

  • Tuition Assistance Program

  • Onsite Fitness & Wellness Center

  • And more

Please note that the 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 permanent residents may be eligible for the information access required for this position if they sign a declaration of intent to become a U.S. citizen and pursue a path to citizenship and meet other eligibility requirements.

In addition, all candidates must undergo an enhanced background check, comply with all applicable information handling rules, and will be tested for all controlled substances prohibited by federal law, to include marijuana.

The Federal Reserve Bank of New York is committed to a diverse workforce and to providing equal employment opportunity to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, or military service.

This is not necessarily an exhaustive list of all responsibilities, duties, performance standards or requirements, efforts, skills or working conditions associated with the job. While this is intended to be an accurate reflection of the current job, management reserves the right to revise the job or to require that other or different tasks be performed when circumstances change.

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

Yes

Job Category

Supervisory/Management

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.

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