Senior Vice President, Supervision and Regulation, Credit Risk Management, and Statistics and Analysis
Federal Reserve Bank of Minneapolis
CompanyFederal Reserve Bank of ClevelandTHE FEDERAL RESERVE BANK OF CLEVELAND
SENIOR VICE PRESIDENT, SUPERVISION AND REGULATION, CREDIT RISK MANAGEMENT, AND STATISTICS AND ANALYSIS
The Federal Reserve Bank of Cleveland
The Federal Reserve Bank of Cleveland is 1 of 12 Federal Reserve Banks that, along with the Board of Governors in Washington DC, make up the Federal Reserve System. Established by Congress in 1913, the Federal Reserve System is the nation’s central bank.
The Federal Reserve Bank of Cleveland (Bank) serves the Fourth Federal Reserve District (Fourth District), which comprises Ohio, western Pennsylvania, eastern Kentucky, and the northern panhandle of West Virginia. The Bank’s mission is to foster the stability, integrity, and efficiency of the nation’s monetary, financial, and payments systems to promote optimal economic performance within the Fourth District and across the country. Four of the 50 largest bank holding companies are based in the 4th district.
The Bank’s wide-ranging responsibilities include actively working with the government, financial industry, and community to conduct economic research and gather perspectives from our region to inform national conversations about monetary policy; ensure our banking system is safe, accessible, and secure; help maintain a reliable payments system, including adequate supply of cash and support of digital payments; and ensure that all people in our District have opportunities to build a bright economic future. Our success depends on actively connecting with the people and communities we serve.
Supervision and Regulation, Credit Risk Management, and Statistics and Analysis
The Supervision and Regulation function oversees and regulates certain segments of the financial industry to ensure firms employ safe and sound business practices and comply with all applicable laws and regulations. Employees in this function directly supervise bank holding companies, financial holding companies, state member banks, and certain nonbank subsidiaries. Supervision occurs through periodic examinations and other routine surveillance activities. The Bank has more than 200 employees focused on supervising the financial institutions in its District. To achieve the mission of fostering financial stability, the Credit Risk Management function implements monetary policy by extending credit to financial institutions through the discount window, administering compliance with reserve requirements, and paying interest on balances held by financial institutions. The Credit Risk Management function also monitors financial institutions’ operating conditions and applies appropriate liquidity controls to mitigate risk associated with any credit extended by the Federal Reserve. The Statistics and Analysis function collects and analyzes financial and other data that is used for bank supervisory and monetary policy purposes.
Reporting to the Bank’s president and chief executive officer, the senior vice president sets strategy and executes operations to fulfill all aspects of the Supervision and Regulation, Credit Risk Management, and Statistics and Analysis functions within the Fourth District and ensures they are aligned with Federal Reserve System requirements and Board of Governors standards. Examples of responsibilities include, but are not limited to, the examination of member institutions for safety, soundness, and adherence to consumer regulations; mergers and acquisitions of financial institutions needing Federal Reserve consent; lending to financial institutions through the discount window; and monitoring the conditions and collateral of institutions that may seek advances.
The senior vice president will build a culture of high performance and inspire a team of diverse, highly engaged, and talented employees. This leader is responsible for ensuring there is alignment to the vision and priorities of the organization at all levels of their team. The senior vice president will lead by example, identifying, coaching, and growing organizational capability and the talent pipeline for the success of the Bank today and in the future.
The senior vice president will ensure their leadership and the practices of their team sustain and enhance the Bank’s reputation as a trusted public institution. The senior vice president will establish and maintain effective relationships with counterparts within the Bank, across the Federal Reserve System, at other bank regulatory agencies, and with external stakeholders at all levels in the communities we serve.
Create and ensure the execution of a strategic direction for the three functions that is responsive to changes in the marketplace and integrates with, and is supportive of, the Bank’s strategic plan and the Federal Reserve System’s supervision, credit risk, and statistics and analysis strategies.
Monitor bank and broader market conditions, interpreting signals of material change and articulating perspectives for Federal Open Market Committee (FOMC) preparation and other policy initiatives.
Serve on the Bank’s executive leadership team and contribute to its strategy, policies, procedures, and goals. Lead the Bank in vision, presence, and community engagement.
Manage the human and financial resources according to budget and policy guidelines. Lead and model expectations through direct communication and collaboration for a diverse team of more than 200 employees.
Build connections with employees at other Reserve Banks and the Board of Governors to increase the Bank’s thought leadership within the Federal Reserve System. Contribute to critical judgement and decision-making and influence policy direction with peers and senior officials throughout the Federal Reserve System, Board of Governors, and other regulatory agencies.
Provide executive oversight of financial, operational, and reputational risks arising from critical central bank operations such as discount window lending, reserves administration, and application of payments system risk controls.
Attract, Develop, and Retain Top Talent
Actively seek, secure, and develop leading talent that reflects the communities served by the Bank. Mentor, coach, and empower employees to develop the next generation of Bank leaders.
Take a leading role in the Bank’s diversity agenda, holding oneself and others accountable for creating an inclusive workplace. Implement processes that integrate diversity and inclusion into daily business activities.
Model authentic leadership, understanding and personalizing the business value of equitable inclusion and communicating the value to all audiences.
Financial Institution Oversight
Provide executive oversight of all supervisory matters, including the safety and soundness of member banks and holding companies and their adherence to consumer compliance regulations. Provide the management team with a clear direction for achieving goals and objectives, ensuring operational requirements are met or exceeded and supervision deliverables are of the highest quality.
Engage with senior officials of regulated institutions and serve as a point of escalation when dealing with significant risks, enforcement actions, and programmatic deficiencies.
Credit Risk Oversight
Provide executive oversight of the Credit Risk Management function, including discount window operations, compliance and risk management, and various temporary liquidity facilities. Provide the management team with a clear direction for achieving goals and objectives, ensuring operational requirements are met or exceeded and deliverables are of the highest quality.
Statistics and Analysis
Provide executive oversight of the Statistics and Analysis function that collects and analyzes financial and other data that is used for both bank supervisory and monetary policy purposes. Ensure the integrity of collected data and conduct the highest quality analyses.
Federal Reserve System and Community Leadership
Represent the Bank in meetings with bankers and the public at multiple venues. Accountable for maintaining key external relationships in the bank supervisory discipline and communicating current supervisory initiatives and guidance to diverse constituents.
Actively lead or serve on Federal Reserve System committees. Facilitate and foster extensive communication with the Board of Governors to influence Federal Reserve System policy and strategic direction.
The Ideal Candidate
Possesses excellent leadership and relationship management experience in complex organizations with multiple stakeholders.
Has a minimum of 10 years of experience in the banking, financial regulation, or similar industry.
Holds a bachelor’s degree with an emphasis in business or finance; an MBA is preferred.
Has a minimum of 10 years of experience managing and leading, including at least 5 years of leadership at a senior level.
Is deeply interested in public service and committed to the mission of the Federal Reserve System.
Has a proven ability to work collaboratively on business teams.
Has strong interpersonal and relationship‐building skills.
Is an excellent written and oral communicator, capable of effectively communicating with all levels of the organization and varied external constituents.
Leads with integrity and demonstrates honesty and respect.
Is able to travel up to 20 percent of the time.
We offer competitive pay and benefits, including, but not limited to,
Health, dental, and vision insurance.
Pension and 401(k) plan with employer match.
Credit protection, financial planning, and opportunities for pre-tax savings.
Flexible work environment with generous vacation, federal holidays, and paid time off to volunteer in the community.
Healthy lifestyle assistance through an onsite fitness center and the officer healthy living program.
Centrally located in downtown Cleveland, with onsite parking and public transportation subsidy.
Support with continued education.
This position requires access to confidential supervisory information and FOMC information, which is limited to protected individuals as defined in the US federal immigration law. Protected individuals include, but are not limited to, US citizens, US nationals, and US 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 US citizens or US 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 US citizen and meet other eligibility requirements. In addition, all candidates must undergo applicable background checks, including a credit check, and comply with all applicable information-handling rules, and all non-US citizens must sign a declaration of intent to become a US citizen and pursue a path to citizenship.
This position is based in Cleveland, Ohio. A relocation package will be offered. The position requires local and out-of-state travel as business needs dictate.
An Inclusive Economy and Workplace
The Federal Reserve Bank of Cleveland is committed to building a strong economy that creates opportunity for the people in our District. We embrace diversity, promote equity, and advance inclusion in the work that we do.
We see in our communities that, all too often, demographics can predict life outcomes. We know many residents in our District face entrenched barriers that can limit equitable access to quality education, medical care, business and career opportunities, banking services, credit, and more.
To deliver on our mission, we are working to expand access to economic opportunity. We start by fostering a diverse and inclusive workplace that values a wide range of views and experiences. We know our workplace must reflect the diversity of our communities.
The Federal Reserve Bank of Cleveland stands against all forms of discrimination. This stance informs all aspects of our decision-making, hiring practices, and commitment to promote an equitable and inclusive workplace and an economy that works for all.
Are you ready to make a difference?
The Federal Reserve Bank of Cleveland is proud to be an Equal Opportunity Employer that believes in the diversity of our people, ideas, and experiences, and we are committed to building an inclusive culture that represents the communities we serve.
Full Time / Part TimeFull time
Regular / TemporaryRegular
Job Exempt (Yes / No)Yes
Work ShiftFirst (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.