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Senior Supervisory Analyst / Supervisory Specialist - Risk Analytics & Surveillance

Federal Reserve Bank of Minneapolis

Federal Reserve Bank of Minneapolis

IT, People & HR, Operations, Data Science
Philadelphia, PA, USA
Posted on Tuesday, August 29, 2023

Company

Federal Reserve Bank of PhiladelphiaThe Federal Reserve Bank of Philadelphia is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. It helps formulate and implement monetary policy, supervises banks and bank and savings and loan holding companies, and provides financial services to depository institutions and the federal government. The Federal Reserve Bank of Philadelphia serves eastern and central Pennsylvania, southern New Jersey, and Delaware.

This Job Description is for the Supervisory Job Family it is aimed primarily for positions within the Risk Analytics and Surveillance Regulatory Applications and Enforcement business lines; but could include anyone within Supervision Regulation and Credit that performs these tasks.

An ideal candidate must have knowledge of, be able to perform actions that are related to activities in the designated business line. Possesses and applies comprehensive knowledge of assigned business unit to the completion of significant actions for state member banks, bank holding companies, and institution affiliated parties. Gathers, analyzes, and interprets complex data related to relevant activities and plans, conducts, and directs actions. Prepares and presents accurate and comprehensive conclusions, recommendations, and related reports. Briefs and advises business unit and department management on the identified issues. May review the work of less experienced analysts and provide training to promote professional development of staff. Participates on related System projects or task forces. Provides advanced quantitative analysis; draws conclusions and recommendations to assist in the overall supervision of complex supervisory issues impacting financial institutions; serves as expert analytic resource to the Division, participates in complex examinations/inspections; apply in-depth knowledge of systemic issues to create new policy guidance and solutions to issues; develops and effectively communicates analytical findings for complex supervisory issues; participates or leads Division-, Bank- and System-wide initiatives; train less experienced analysts.. Demonstrates an advanced understanding of supervision and regulation processes and the risks faced by supervised institutions; understands the interrelationship of banking risk and applies an integrated risk management approach in assessing an institution’s performance; identifies complex supervisory issues; individual typically maintains advanced skills in one or more disciplines.

What You Will Do:

  • Plans, conducts, and directs moderate to high complexity actions.
  • Coordinates discussions with appropriate business unit, Bank legal, and/or Board of Governors staff to determine the appropriate level of action to address identified deficiencies, prepares recommendation memoranda, and drafts informal and formal actions.
  • Along with unit management, meets with bank senior management to place action.
  • Plans use of time to accomplish a variety of tasks with minimal or no oversight; manages activities of two or more projects, business processes or functions; anticipates long-term project needs, develops project plans, timelines and milestones for complex projects; establishes the goals and objectives of a project and acts to ensure that they are achieved; serves as a senior technical advisor/team member on projects or examinations/inspections.
  • Monitors Suspicious Activity Report (SAR) database and conducts investigation of institution affiliated party (IAP) SARs and other reported IAP frauds Coordinates investigation of potential IAP frauds with examination areas, Bank legal, and/or Board of Governors staff.
  • Evaluates financial institution progress in complying with actions and recommends alternative action when warranted.
  • Prepares correspondence to financial institutions describing further corrective actions needed.
  • Interacts with professional colleagues around the System, including members of appropriate System workgroups or committees by participating in related projects. Seeks opportunities to participate on System projects or task forces.
  • Stays abreast of relevant regulations, interpretations, and legislation, and identifies emerging issues affecting the banking industry.
  • Represents department interests in discussions with other Supervision, Regulation and Credit (SRC) business units, other regulatory agencies, or Reserve Banks.
  • Participates in outreach programs by making speeches, coordinating conferences, and/or writing articles related to assigned area of responsibility.
  • May participates on bank, department, or system projects.
  • Fulfills job duties and responsibilities in conformance with sound safety practices.
  • Demonstrates effective SRC Core Competency skills for grade and position. Performs other related duties as assigned.

What You Have:

Education and Experience:

  • Bachelor’s degree in business area or equivalent related work experience and education is required.
  • Advanced degree is preferred.
  • Minimum 8 years of experience in bank supervision, banking, or finance related field is required.
  • Completion of the examiner training program as specified by the Board of Governors is required.
  • Completion of all examiners training examinations and/or possessing an examiner commission is strongly preferred.

Knowledge and Skills:

  • Excellent verbal, written, and interpersonal communication skills.
  • Present both orally and in writing, findings and assessments concerning complex supervisory matters or institutions; prepare and present information and responses to complex questions; demonstrate the ability to manage the communication process; actively engage in transferring technical knowledge.
  • Advanced analytical and problem solving skills. Use appropriate diagnostic- and root-cause analysis skills to identify direct and indirect causes of problems of unknown origin; organize data and information in a manner that effectively communicates issues; identify underlying issues or problems and recognize symptoms that indicate more significant problems or issues.
  • Lead and participate effectively on a team; lead complex and diverse team efforts by virtue of both technical expertise and skills of influence; draw on experience to resolve complex issues.
  • Identify and assess complex supervisory issues; effectively manage complex issues in order to meet our supervisory objectives and goals in a timely manner.
  • Serve as mentor and/or coach and provide constructive feedback to less experienced staff; engage other stakeholders in collecting feedback and input to complete work activities.
  • Ability to use standard Bank spreadsheet and presentation applications.

Below see a detailed summary of specialized skills in each individual business line:

Risk Analytics and Surveillance

  • Collects data relevant to Third District financial institutions and the banking industry from a variety of sources, including published reports and computerized databases.
  • Establishes and maintains automated information systems on the banking industry to support statistical analysis, periodic reports, and responses to ad hoc inquiries from within the department or around the System.
  • Performs complex financial, statistical, and econometric analysis using statistical and financial software applications.
  • Prepares briefs on emerging issues for business unit and Supervision, Regulation and Credit (SRC) senior management.
  • Maintains knowledge by monitoring and evaluating trends and developments in the banking industry and its regulatory environment.
  • Prepares comprehensive quarterly summary reports, continuous monitoring updates, and ad hoc reporting for Third District and national institutions more broadly.
  • Prepares written and technical reports on significant issues for unit and department management.
  • Independently analyzes sources of systemic risk, emerging issues, and economic factors as they apply to the Third District institutions more broadly to assess their impact on the supervisory process. Leads, plans, and conducts offsite analytical studies and assignments.
  • Prepares comprehensive written reports on important issues under the direction of RAS management that will impact the Third District supervision strategy.
  • Interacts with professional colleagues around the Federal Reserve System, including members of the various management groups, by participating in related projects; seeks opportunities to actively participate on system projects and/or task forces.

The hiring manager will also consider applicants with slighlty less experience and/or qualifications as a Senior Analyst.

Other Requirements:

  • Periodic participation on bank examinations or bank holding company inspections, which may require overnight travel.
  • Must be a U.S. Citizen, U.S. National, or hold a permanent resident/green card with intent to become a U.S. Citizen.

This document indicates the general nature and level of work performed by employees within this position. It is not a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job. An employee’s responsibilities, tasks, and duties might differ from those outlined in the job description, and other duties, as assigned, are a part of the job. The Federal Reserve Bank of Philadelphia reserves the right to modify the elements of this job description, as business needs require.

The salary grade for this position is: 15.

We offer a great benefits package that features:

  • Medical (4 options), Prescription, Dental (3 options), and Vision Insurance with no waiting period
  • 401k/Thrift Plan with generous employer match
  • Employer-funded Pension Plan
  • Paid Vacation/Sick Time & Holidays
  • Monthly $100 Commuter Allowance
  • Flexible Spending Accounts and Healthcare Spending Accounts
  • Flexible Work Schedule available in most departments
  • Life Insurance and Long Term Disability Insurance
  • Tuition Reimbursement (undergraduate and graduate)
  • Parental Leave
  • Free onsite 24/7 Fitness Center including training classes, Peloton bikes and locker room / shower facilities
  • Onsite Cafeteria & Coffee Shop
  • Additional Convenience Benefits, Discounts and More…

Additional Information:

  • The Federal Reserve Bank of Philadelphia believes that diversity, equity and inclusion among our employees is essential to our success as an organization, and we want to recruit, develop and retain the most accomplished people from a diverse candidate pool. To support a workplace culture of belonging, we offer eight employee resource groups (ERGs) and a 100 percent rating on the Human Rights Campaign (HRC) Corporate Equality Index. The Federal Reserve Bank of Philadelphia is proud to be an equal opportunity workplace.
  • We have eight employee resource groups (ERGs) to support a diverse workforce. Abilities (supporting disabilities and allies), African Heritage, Asian-Pacific, Freedom (supporting LQBTQ+ and allies), Talent Forward (supporting career growth), Women United, Working Families and Veterans. ERGs are open to all employees.
  • We will ensure that individuals with disabilities are provided reasonable accommodations to participate in the job application or interview process, to perform essential job responsibilities, and to receive other benefits and privileges of employment.
  • All Federal Reserve Bank of Philadelphia employees must comply with the Bank's ethics rules, which generally prohibit employees, their spouses/domestic partners, and minor children from owning securities, such as stock, of banks or savings associations or their affiliates, such as bank holding companies and savings and loan holding companies. If you or your spouse/domestic partner or minor child own such securities and would not be willing or able to divest them if you accepted an offer of Bank employment, you should raise this issue with the Recruiter for this posting, who can provide you contact information for our ethics officer if necessary. You should review the Bank's Employee Code of Conduct to ensure compliance with conflict of interest rules and personal investment restrictions.
  • Background investigations and drug testing are required for all new hires as a condition of employment, after the job offer is made. Candidates for positions deemed as "safety sensitive" will also be screened for the presence of marijuana. Employment may not begin until the Bank accepts the results of the background investigation.
  • All employees will be subject to FBI fingerprint / criminal background and Patriot Act/ Office of Foreign Assets Control (OFAC) watch list checks at least once every five years.
  • The above statements are intended to describe the general nature, level of work and the requirements of this position. They are not intended to be an exhaustive list of all responsibilities associated with this position or the personnel so classified. While this job description is intended to be an accurate reflection of this position, management reserves the right to revise this or any job description at its discretion at any time.
  • This is not a 100% remote opportunity. You will be available to work on-site in at least a hybrid capacity.
  • Learn more about the Philly Fed and its culture. Learn more about working for the Philly Fed.

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

Yes

Job Category

Bank Examination

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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