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Assistant Vice President -- Banking Supervision, Regulation & Credit

Federal Reserve Bank of Minneapolis

Federal Reserve Bank of Minneapolis

Minneapolis, MN, USA
Posted on Wednesday, August 9, 2023

Company

Federal Reserve Bank of MinneapolisThe Federal Reserve Bank of Minneapolis has a unique opportunity for an Assistant Vice President to join the Supervision Regulation and Credit (SRC) division and lead the day-to-day operations for several key functions. Reporting to a Vice President, you will lead the operations for the Credit, Payment System Risk, and Reserves. Further, reporting to SRC’s Senior Vice President, you will lead the Quality Assurance Function, and serve as SRC’s Ethics Officer. This is a hands-on, roll-up-your-sleeves operations position requiring quick processing and responses to email, authoring documents, procedures, and being responsible to lead the completion of monthly and quarterly tasks.

In addition, you will develop agendas, lead meetings, and be responsible for tracking and leading the next steps. Developing and presenting information to the team and executives is another key component of this position. This position requires flexibility to respond to email and operational alerts during the evenings and weekends as the business line supports the Federal Reserve’s FedNow Service for instant payments 24x7x365.


The Credit function administers extensions of credit to depository institutions in a manner that is consistent with the Federal Reserve Act and the Federal Reserve System's Regulation A. The Payment System Risk function monitors institutions on activities such as daylight overdrafts, net debit caps, and overnight overdrafts. The Reserves function monitors balances for depository institutions in accordance with Regulation D. The Reserves Administrator implements parameter changes supporting monetary policy decisions under the Federal Open Market Committee. The Condition Monitoring and Risk Management function monitors the financial condition of depository institutions and implements account controls in accordance with policies.

The Supervision and Regulation Quality Assurance function ensures a quality program, standards, and processes are consistently applied to all supervisory activities. The Ethics Officer ensures that division staff members operate in accordance with ethics and conduct policies.

RESPONSIBILITIES:

  • Oversee the day-to-day operations of the Credit and the related 13(3) lending facilities, Payment System Risk, Condition Monitoring, Reserve Requirements, System Reserves Administrator, Quality Assurance, and the Ethics function. This includes overseeing internal controls related to these functions, such as creating and communicating annual audit and compliance plans, setting and communicating a schedule of events, developing managerial responses, drafting and communicating quarterly activities. In addition, you will lead, draft, and finalize the analysis and the conclusions for quarterly Current Expected Credit Losses/Allowance for Loan and Lease Loss.
  • Provide oversight for select initiatives related to these functions; maintains expertise and ensures that staff members have individualized development plans.
  • Serve as the District’s Discount Officer, Risk Management Coordinator, Committee on Reserves Administration Member, Quality Assurance Community of Practice Member, Ethics Community of Practice Member, and as Alternate Member to the Subcommittee on Credit Risk Management (SCRM); actively supports the Vice President serving as a SCRM Member; monitors and/or participates on SCRM/CORA/Quality Assurance/Ethics-related work groups and other System initiatives related to assigned responsibilities.
  • As the discount window officer, responsibilities include tasks such as identifying resolutions for problem institutions, ensuring compliance with System and local standards and policies.
  • Contribute to the development and implementation of policies.
  • Promote a high-performing vibrant culture by developing staff to ensure the Bank is well prepared to meet succession needs. Identifies and develops staff with management potential.
  • Participate in the development of strategy and is conversant with the Bank’s mission and strategic initiatives; drives division goals and key objectives and links them to Bank Strategy. Crafts and communicates department specific objectives as linked to the Bank’s Strategy.

QUALIFICATIONS:

  • Bachelor's degree, or an equivalent combination of education and experience. Bachelor's degree with an emphasis in Finance, Business Management, Accounting, Economics or closely related fields preferred. Graduate degree in related field preferred.
  • 10+ years of relevant leadership experience in a complex business environment, as evidenced by an established record of achievement. This experience must include at least 5+ years of leadership experience in a direct supervisory capacity.
  • Superior business acumen, strategic planning skills and experience with an emphasis on innovation and automation.
  • Demonstrated organizational skills with the ability to identify priorities, drive performance, and execute plans on schedule.
  • Ability to manage relationships with all levels of the organization and a collaborator with varied stakeholders.
  • Strong strategic thinking, critical thinking, analytic and problem-solving skills.
  • Excellent communication skills (written and verbal), as well as effective presentation and persuasion capabilities; the ability to communicate in an articulate, concise manner to a wide range of audiences.
  • Excellent interpersonal, leadership and negotiation skills. Excellent judgment when deciding which issues to resolve directly and which require senior management attention.
  • Resourceful, flexible, and open to new ways of thinking, with the ability to drive change.
  • A demonstrated commitment to diversity, equity and inclusion.
  • An essential function of this position is working onsite. While this position qualifies for a hybrid work arrangement, employees in this role are required to be onsite at least 4 days a week.
  • 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 applicable background checks 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.

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

  • Comprehensive healthcare options (Medical, Dental, and Vision)
  • 401K match, and a fully-funded pension plan
  • Paid time off and holidays
  • Free public transportation passes
  • Annual educational assistance
  • On-site fitness facility
  • Professional development programs, training and conferences
  • And more…

The Minneapolis Fed is committed to developing a diverse workforce and providing an inclusive environment where all employees are respected and valued. We believe that we can foster development opportunities for all and reach our full potential by recognizing the unique experiences and identities of each of our colleagues. From economists to cash specialists, we work together to represent you in our economy.

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

Yes

Job Category

Executive

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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