LFBO Specialist / Senior Specialist - Capital & Credit Lead

Federal Reserve Bank of Minneapolis

Federal Reserve Bank of Minneapolis

Philadelphia, PA, USA
Posted on Tuesday, April 16, 2024


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.

The Large and Foreign Banking Organizations (LFBO) risk specialist has strong knowledge of risk management practices related to financial risks and governance and controls at large financial institutions. The risk specialist participates in a variety of supervisory activities for firms generally having an asset size greater than $100 billion with complex operations. Individuals in this role demonstrate strong leadership capabilities and technical skills.

What You Will Do:

  • Assess capital adequacy and associated risk management practices at financial institutions in the LFBO portfolio.
  • Assess retail credit risk and credit risk management practices at financial institutions in the LFBO portfolio.
  • Participate in supervisory events and/or continuous monitoring activities related to capital positions and planning.
  • Work well in teams and collaborate effectively with other risk specialty partners in conducting supervisory activities.
  • Participate in supervisory activities for cross-firm events conducted for firms supervised by the FRS, when applicable.
  • Produce strong written products that require minimal editing and adhere to FRS standards and guidelines.
  • Ensure supervisory activities are completed in accordance with Reserve Bank and Federal Reserve System (FRS) standards.
  • Engage in self-development to grow and enhance skills and abilities.
  • Contribute to other supervisory portfolios, as well as local initiatives and projects, as applicable.
  • Demonstrate leadership skills and support a collaborative and diverse work environment.
  • Manage administrative responsibilities well, including expenses, time keeping, and record retention.
  • Demonstrate effective Core competency skills at related levels, both internally and externally.
  • Accountable for adherence to Custody Control Principles and Standards; the Information Security Manual; and all other Bank/Departmental control procedures to include Committee on Sponsoring Organizations guidelines.
  • Comply with all applicable information security policies, guidelines, and practices.

What You Have:

Education and Experience:

  • Bachelor's degree in accounting, finance, or economics required. Master’s Degree preferred.
  • Commissioned by the Board of Governors (BOG), possesses a commission from a federal banking supervision agency, or agreement to pursue a commissioning preferred.
  • Minimum of six years of relevant experience required.
  • Maintains an industry recognized certification a plus (e.g., CPA, CFA, or FRM).

Knowledge and Skills:

  • Strong knowledge of financial risk factors relating to capital positions, planning, stress testing, quantitative and qualitative loss projections, and common governance, reporting, and monitoring methods employed by large financial organizations.
  • Strong knowledge of retail loan risk factors, underwriting practices, and common governance, reporting, and monitoring methods employed by large financial organizations.
  • Possesses strong communication and presentation skills at various levels within an organization.

Other Requirements:

· Valid Driver's license required.

· Some travel is required.

· U.S. citizenship required.

The salary grade for this position is: 15/16.

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


Job Exempt (Yes / No)


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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