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Examiner II / Senior - Risk Specialist

Federal Reserve Bank of Minneapolis

Federal Reserve Bank of Minneapolis

Multiple locations
Posted on Wednesday, April 10, 2024

Company

Federal Reserve Bank of ClevelandThe Federal Reserve Bank of Cleveland is part of the nation’s central bank and we’ve provided many opportunities for professional growth during our history.

For twenty-three years in a row, we’ve been named “One of Northeast Ohio’s Best Places to Work” by North Coast 99. This prestigious award honors organizations with outstanding employment practices, including compensation, benefits, training, recruitment, retention, community services, and employee communications.

Our People Make the Difference! The Federal Reserve Bank of Cleveland is seeking innovative thinkers with vision to build the framework that will carry the Bank into the future.

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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.

Summary

Supports the Federal Reserve`s mission of financial system stability. An individual in this position is as an integral member of the risk discipline and possesses advanced technical and supervisory skills. Leads and participates in large, complex, and challenging supervisory activities to determine the adequacy of risk management processes to identify, measure, monitor, and mitigate risks. Demonstrates advanced skills regarding bank operations and products and is able to leverage an understanding of the interplay of risks, risk drivers, and risk management to conduct critically focused supervisory assessments. Participates on national horizontal reviews and serves in a material contributor role (examples include as lead or material contributor for a workstream on a horizontal evaluation team or as lead risk specialist/examiner-in-charge for a dedicated supervisory team). Demonstrates advanced knowledge of industry practices and leverages innovative techniques to identify and assess emerging risks. Conducts forward-looking analysis of cross firm and industry/financial system risks and developments to help drive perspectives on micro (institution specific), horizontal (industry wide/peer) and macro (financial system supervision) risks. Leads or acts in material contributor role on complex projects and develops/delivers outreach and training.

Note: Individuals in this role either have an examiner commission or are in the process of obtaining a commission.

General Responsibilities:

  • Serve as examiner-in-charge or lead risk specialist on reviews of consumer compliance, and related activities. May participate on national horizontal reviews in a formal leadership role or as a material contributor.

  • Demonstrates sound supervisory judgment and leadership skills in organizing, deploying, and managing assigned resources when acting in an in-charge capacity.

  • Identifies and assesses institution-specific and industry risk levels, key developments, and trends. Prepares informative, well supported supervisory products and workpapers, and effectively communicates supervisory findings, both verbally and in writing, to the supervised banking organization's senior management and board of directors in a thoughtful and concise manner.

  • Works independently or in small teams on reviews both in-District and out-of-District.

  • Demonstrates expertise and agility in executing a range of assignments, including highly complex, and at firms of varying size, condition, and complexity (including larger, more complex banking organizations).

  • Performs continuous financial system supervision monitoring to understand micro (institution specific), horizontal (industry wide/peer) and macro (financial system supervision) risks.

  • Serves as a subject matter expert (SME) for the Bank, SCS department management, and staff regarding risk discipline.

  • Maintains ongoing awareness of issues, trends, and topical areas relevant to consumer compliance and related areas. Provides for knowledge sharing of key and emerging risks within and across the SCS administration and System.

  • Provides informed input through policy, supervisory guidance, or other contributions to enhance supervisory activities and effectiveness. Prepares written and verbal risk assessments, analytical and other products and briefings as requested. Develops and delivers written analyses and presentations on institution-specific and industry trends.

  • Leads or participates on the most critical, most complex local and strategic or operational projects and initiatives intended to enhance policy, supervisory standards and processes, examiner training, address emerging issues or developments, or enhance quality, performance, and effectiveness.

  • Proficiently executes assignments and activities consistent with established objectives, performance, and timeliness requirements.

  • Shares knowledge and expertise and provides leadership, coaching and mentoring to peer/junior examiners, analysts, and other staff to support their knowledge and understanding of risk discipline.

  • Manages and maintains relationships effectively with others, both internal and external to Federal Reserve, and tailors message appropriately to audiences across varying levels, including staff, mid-level/ executive management, and board of directors.

  • Performs other duties as assigned or requested.

Education and Experience:

  • Examiner II: Bachelor's Degree and 7+ years of related work experience in specialty area required.

  • Examiner Senior: Bachelor's Degree and 10+ years of related work experience in specialty area required.

Knowledge and Skills

  • Expert knowledge of regulations, procedures, and practices of bank examination, well rounded compliance supervisory or equivalent industry expertise with a preferred background in regulatory compliance, Fair Lending, UDAP, and CRA

  • Regulatory examiner commission preferred

  • Advanced ability to perform independent research.

  • Advanced knowledge of project management

  • Intermediate knowledge of Microsoft Office

  • Expert problem solving and analytical.

  • Expert specialized operational/technical skills in specialty area.

  • Advanced written and verbal communication

  • Advanced presentation

  • Advanced public speaking

  • Advanced strategic thinking/planning

Physical Demands and General Working Conditions

Traditional office environment: 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

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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