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Sr. Risk Specialist, Large Institution Supervision

Federal Reserve Bank of Minneapolis

Federal Reserve Bank of Minneapolis

Multiple locations
Posted on Thursday, May 23, 2024

Company

Federal Reserve Bank of San FranciscoWe are the Federal Reserve Bank of San Francisco—public servants with a mission to advance the nation’s monetary, financial, and payment systems to build a stronger economy for all Americans. We are a community-engaged bank, and are committed to understanding and serving the vibrant, expansive communities of the Twelfth District. That means we seek and appreciate new perspectives. We respect people for what they do and for who they are. We build opportunities to learn and grow. When you join the SF Fed, you become part of a diverse team united in its purpose to promote an economy that works for everyone.

The Supervision + Credit Group is seeking a highly motivated individual to join its Risk, Policy & Analysis Group (RPAG) to serve as a member of the Federal Reserve System’s Large Institution Supervision Coordination Council (LISCC) program. The LISCC program is the Federal Reserve’s national supervisory program for the nation’s largest most systemic financial institutions. The program is overseen by the LISCC Operating Committee and is driven by hundreds of staff supplied by multiple Reserve Banks and our Board of Governors.

This national program is comprised of five core areas: Capital, Liquidity, Governance and Controls (G&C), Recovery and Resolution Planning (RRP), and the Monitoring and Analysis Program (MAP). The matrix structure of the LISCC program provides that each of the program participants has dual reporting lines: functional reporting to a LISCC program manager and administrative reporting to a local (FRBSF) manager. This position is part of the Wholesale Credit Horizontal Evaluation Team (HET) in the LISCC Capital program. In this important role as a Risk Specialist, Large Institution Supervision you will:

  • Participate in examinations and ongoing reviews over a broad spectrum of wholesale credit risk topics, analyze internal reports, facilitate discussions with institution management, review industry information, and research wholesale credit risk topics affecting the financial services industry.
  • Analyze and contribute to discussions related to assessment of capital adequacy relative to inherent risk based on expected as well as stressed macroeconomic and market conditions.
  • Contribute to the HET’s efforts to influence institutions’ management actions to achieve supervisory goals, communicate findings to appropriate internal and external stakeholders.
  • Provide expertise to appropriate internal and external partners.
  • Proactively coordinate with colleagues across the LISCC program to incorporate their views into supervisory results and products, including peer perspective.
  • Participate in vetting sessions to discuss supervisory findings.
  • Monitor and document remediation of supervisory issues and elevate issues as appropriate.
  • Communicate regularly with Federal Reserve Dedicated Supervisory Teams, supervised institutions, and regulatory agencies, as well as brief Federal Reserve executive management on appropriate issues.
  • Evaluate credit quality of commercial loan transactions, including participation in Shared National Credit (SNC) examinations, to better understand and assess the quality of wholesale credit risk management and capital modeling.
  • Contribute to policy and practice development by researching, identifying, and surfacing risk issues, including horizontal assessment of risk management practices.
  • Contribute to Federal Reserve System and S+C workgroups, enthusiastically initiate change by seeking opportunities to participate in priority projects.
  • Ensure that major divergent views are surfaced, documented, discussed, and raised, as needed.

Requirements:

  • Bachelor’s degree in Finance, Economics, Business, or related field. Master’s degree preferred.
  • Typically requires seven or more years of relevant work experience in wholesale credit risk management and capital planning and positions at a regulatory agency, large financial institution, or in a related consulting role.
  • Deep understanding of financial and credit risk.
  • Comprehensive Capital Analysis & Review (CCAR) and/or Shared National Credit (SNC) experience highly desirable.
  • Knowledge of the commercial loan markets, including loan underwriting, the risks associated with various loan structures, and the ability to critically analyze emerging risks.
  • Excellent ability to complete complex assignments with leadership support, successfully handle multiple assignments, prioritize and collaborate effectively to meet goals.
  • Critical thinking demonstrated by sound reasoning supported by facts and informed by broad themes or issues.
  • Excellent written and verbal communication ability, articulating a range of complex issues clearly and persuasively with sophisticated nuance as appropriate to the audience.
  • Ability to assimilate, synthesize, and interpret complex data, concepts, and processes.
  • Excellent analytical skills, interpreting and understanding complex banking and finance issues, concepts, trends and regulatory issues while considering broader implications.
  • Ability to work effectively in a team environment and build collaborative relationships across teams and geographies.
  • Willing and able to travel up to 20%.
  • This position requires access to confidential supervisory information, which is limited to “Protected Individuals.” Protected Individuals include, but are not limited to, U.S. citizens and U.S. nationals, U.S. permanent residents who are not yet eligible to apply for naturalization, and U.S. permanent residents who have applied for naturalization within six months of being eligible to do so or who will sign a declaration of intent to apply for naturalization before they begin employment.

#LI-Hybrid

Base Salary Range: Min: $155,700 Mid: $205,600 Max: $255,300 (Location: San Francisco)

Final salary and offer will be determined by the applicant’s background, experience, skills, internal equity, and alignment with geographic and other market data.

We offer a wonderful benefits package including: Medical, Dental, Vision, Pre-tax Flexible Spending Account, Backup Child Care Program, Pre-Tax Day Care Flexible Spending Account, Paid Family Care Leave, Vacation Days, Sick Days, Paid Holidays, Pet Insurance, Matching 401(k), and Retirement/Pension.

We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, perform essential job functions, and receive other benefits and privileges of employment. The SF Fed is an Equal Opportunity Employer.

The Bank's ethics rules 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. Employees in the S+C group also must ensure there are no conflicts of interest related to their previous employment and current financial interests. S+C employees may be subject to borrowing and deposit restrictions and may need to recuse themselves from certain supervisory work. Please review Section 5.3 and Appendix B of the Bank’s Code of Conduct to ensure compliance with the Code of Conduct conflict of interest rules and personal investment restrictions.

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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