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VP/SVP SRC Modeling and Research

Federal Reserve Bank of Minneapolis

Federal Reserve Bank of Minneapolis

Philadelphia, PA, USA
Posted on Tuesday, May 14, 2024

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.

Job Summary:

In partnership with the VP/SVP Supervision Data Management and Analytics, this role oversees teams that perform supervisory modeling and research within the Supervision, Regulation, and Credit (SRC) department. More specifically, this collaborative leadership role provides strategic direction to the groups focusing on risk analysis, stress testing, retail modeling, conducting policy, and academic research. In this role, you will also collaborate with Federal Reserve System (FRS) colleagues to develop coordinated quantitative strategies.

To succeed in this role, you must be a driven leader who strives to achieve the department and Reserve Banks’ strategic vision. To connect with supporting teams, you will need strong analytical skills and an ability to understand, apply, and explain regulatory and supervisory concepts. To be a respected leader, you must have a passion to motivate, lead, and develop diverse groups and future leaders.

If you possess the requisite skills, industry expertise, and collaborative leadership experience, we invite you to apply and be a key leader in shaping the strategic future of modeling and research at the Federal Reserve.

The following job descriptions details the requirements for a Senior Vice President. Applicants with less experience or education may be considered for the Vice President position.

What You Will Do:

Key Responsibilities

Strategic Leadership

  • Develops research strategies, directs, and participates in high-quality research, and develops staff’s research abilities.
  • Provides strategic direction to System stress testing operations and local research initiatives.
  • Consistently identifies opportunities to leverage the Reserve Bank’s skills and talent at the System level.
  • Maintains awareness of System initiatives and contributes Third District resources, when appropriate.
  • Ensures the appropriate implementation of new System guidance.

Collaboration

  • Connects with the academic community and helps promote SRC’s reputation.
  • Directs quantitative supervisory strategies and collaborates with System colleagues.
  • Interfaces with System and BOG management and staff to keep them informed of Third District monitoring and FRS capital markets/investment portfolio monitoring.
  • Develops, maintains, and enhances relationships with staff and key stakeholders within the Reserve Bank, Federal Reserve Banks, BOG, other agencies, and academics.
  • Creates, maintains, and expands a network of persons to collaborate with, help influence, and promote the work of the Risk Assessment, Data Analysis and Research (RADAR) function.
  • Effectively communicates with all levels of the organization, Reserve Bank colleagues, BOG staff, and other stakeholders to advance the work and knowledge of the RADAR function.
  • Works with other SRC business units and contributes quantitative resources, when appropriate.
  • Interfaces with Bank, System, and Board of Governors (BOG) management to develop coordinated quantitative strategies.

Team Leadership

  • Develops, coaches, and assesses managers to ensure they have effective leadership behaviors to prepare them for leadership roles.
  • Fosters an inclusive environment and cultivates innovation, openness, and collaboration.
  • Participates in or leads System, Reserve Bank, or functional initiatives, committees, and project teams.
  • Fulfills job duties and responsibilities in conformance with sound safety practices.

What You Have:

Qualifications

  • PhD degree in finance, economics, or related field is required.
  • Minimum of 10 years’ management experience with 12 years’ overall experience strongly preferred.
  • Prior experience in the financial services industry or bank supervision required.
  • Proven record of high-quality research and model development.
  • Demonstrated leadership ability on a Reserve Bank, System, or industry level.
  • Strong supervisory modeling and research fundamental knowledge with a well-rounded understanding of high-quality research strategies and information integrity standards.
  • Executive level business acumen, leadership skills, and a demonstrated ability to lead a multifunctional complex organization is required.
  • Ability to integrate the strategic values, direction, and goals of the Bank into business process and staff development is required.
  • Demonstrated the following leadership attributes on a Bank, System, or industry level:
  • Champions an inclusive environment to lead the System's Diversity, Equity, and Inclusion goals.
  • Leads with a strategic, action-oriented mindset that is focused on performance, accountability, and outcomes.
  • Drives results that are beneficial to System and local efforts (demands).
  • Is a role model and serves as an active talent champion, coach, mentor, and connector.
  • Engages in intellectual curiosity, agility, and experimentation to drive innovation.
  • Builds trust and serves as a helpful and contributing colleague.
  • Embraces and demonstrates a growth mindset including the new principles and practices as the future of work evolves.
Applicants must be able to provide work authorization to prove their eligibility to work in the United States. An applicant for employment also must be a U.S. Citizen, U.S. National or 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 permanent residents must sign a declaration of intent to become a U.S. citizen when eligible to do so and pursue a path to citizenship.

The salary range for the VP position is: $211,300 - $295,000. The salary range for the SVP position is: $242,900 - $350,000. Final salary and offer will be determined by the applicant’s background, experience, and skills, and internal equity and alignment with market data.

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.
  • Due to the nature of the information you will have access to, we require that you also complete a more in-depth enhanced background screening (Peraton moderate).
  • 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

    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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