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Consumer Compliance Program Director

Federal Reserve Bank of Minneapolis

Federal Reserve Bank of Minneapolis

Legal, Operations
New York, NY, USA
Posted on Wednesday, May 29, 2024

Company

Federal Reserve Bank of New YorkWorking at the Federal Reserve Bank of New York positions you at the center of the financial world with a unique perspective on national and international markets and economies. You will work in an environment with a diverse group of experienced professionals to foster and support the safety, soundness, and vitality of our economic and financial systems.

The Bank believes in work flexibility to balance the demands of work and life while also connecting and collaborating with our colleagues in person. Employees can expect to be in the office a couple of days per week as needed for meetings and team collaboration and should live within a commutable distance.

What we do:

The Supervision Group of the Federal Reserve Bank of New York (FRBNY) supervises banks in the Second District. The objectives of supervision are to:

  • Evaluate and promote the overall safety and soundness of supervised institutions

  • Ensure supervised institutions’ compliance with relevant laws and regulations, including consumer protection

  • Facilitate the stability of the financial system of the United States

  • Support the growth and stability of the U.S. economy

Supervision is carried out through a combination of methods, including on-site and off-site examinations involving staff dedicated to the supervision of an individual firm and other professionals focused on analytical, policy and risk matters. Supervision is coordinated with other US agencies.

The Consumer Compliance function is responsible for supervisory oversight of consumer protection laws across all portfolios (small, mid-range and large institutions) and evaluates consumer compliance activities at Federal Reserve-supervised financial institutions within the Second District, including both bank holding companies and state member banks. This responsibility encompasses an understanding of and assessment of each firm’s and/or bank’s consumer protection compliance management systems, as well as compliance with specific consumer protection laws and regulations at state member banks, including Fair Lending laws, the Community Reinvestment Act (CRA), and Unfair or Deceptive Acts or Practices.

Your role as the Consumer Compliance Program Director:

As the Consumer Compliance Program Director, you will lead a unit of a dynamic examination staff responsible for executing examinations for a portfolio of State Member Banks for the Second District. You will provide leadership on the supervisory strategies for the supervised institutions. You will be a leading face of the FRBNY to supervised institutions and will direct supervisory assessments, including the analysis and synthesis of complex topics in support of supervisory ratings and messages to the institutions. You will manage and develop examination staff and foster a highly effective team, provide strategic and collaborative engagement with stakeholders within the Department of Consumer and Community Affairs, as well as across dedicated supervisory teams, partner closely with consumer colleagues locally and across the Federal Reserve System, provide leadership for personnel and operational initiatives, as well as engage in thought leadership across the Federal Reserve System.

Core responsibilities include:

  • Develop and deliver high quality execution of the end-to-end supervisory process, which includes oversight for consumer protection laws, as well as an evaluation of compliance management systems. Lead examination staff to identify, prioritize and execute on areas of supervisory focus through examination activity. Engage with an institution’s senior compliance management and coordinate with counterparts at other agencies.

  • Manage the examination team to a high standard of operational excellence and ensure compliance with applicable policies and guidelines. This includes review of work products, oversight of examinations, scheduling, operational initiatives and project management. Provide active feedback, guidance, mentoring and coaching.

  • Build relationships with other supervisory teams, senior Reserve Bank and Board of Governors staff, and other U.S. supervisors. Promote an inclusive culture that values learning and agility, curiosity, and sharing of diverse perspectives among the supervisory stakeholders.

  • Help deliver and provide thought leadership on FRBNY and the Federal Reserve System’s Consumer Compliance Portfolio supervisory priorities and support associated committees and subcommittees.

What we are looking for:

  • People leadership skills, including the fostering of a positive and cohesive team through coaching, mentoring, and the development of examination staff, colleagues and peers, and a demonstrated strong support for career development.

  • Experienced professional with an advanced understanding of the supervisory process, including knowledge of consumer protection laws and regulations.

  • Ability to drive progress at supervised institutions, ability to build effective working relationships in a complex organizations, ability to communicate effectively and persuasively with key compliance personnel and/or senior management at supervised institutions.

  • Ability to develop strong relationships with peers, colleagues and other stakeholders through the demonstration of collaborative communication, ownership, accountability, and excellence in execution; ability to matrix manage is essential.

  • Effective written and verbal communication skills, including the ability to present to executive level management and large audiences.

  • Track record of leadership, innovative thinking, decision making, and strong execution.

  • Commissioned examiner and/or Examiner-in-Charge (EIC) experience strongly preferred; candidate must be willing to enroll in examiner commissioning training upon acceptance of the position if not commissioned.

  • Some travel may be required.

Salary Range: $225700 - $353300

We believe in transparency at the NY Fed. This salary range reflects a variety of skills and experiences candidates may bring to the job. We pay individuals along this range based on their unique backgrounds. Whether you’re stretching into the job or are a more seasoned candidate, we aim to pay competitively for your contributions.

Our Touchstone Behaviors—Communicate Authentically, Collaborate Inclusively, Drive Progress, Develop Others, and Take Ownership—help shape the culture of the Bank. They also provide a shared language for how we work together and achieve success, and they set clear expectations for leading with impact at every stage of your career with us. Learn more.

Benefits:

Our organization offers benefits that are the best fit for you at every stage of your career:

  • Fully paid Pension plan and 401k with Generous Match

  • Comprehensive Insurance Plans (Medical, Dental and Vision including Flexible Spending Accounts and HSA)

  • Subsidized Public Transportation Program

  • Tuition Assistance Program

  • Onsite Fitness & Wellness Center

  • And more

This position requires access to confidential supervisory information (CSI) and/or Federal Open Market Committee (FOMC) information. Access to CSI and FOMC information is limited to U.S. citizens, lawful permanent residents, individuals who meet the definition of “protected individual” under 8 U.S.C. § 1324b(a)(3), and certain other nonimmigrants. All non-U.S. citizens authorized to access CSI and/or FOMC information must sign a declaration of intent to expeditiously become a lawful permanent resident and thereafter a U.S. citizen when eligible.

The New York Fed expects its employees to perform their duties with honesty, integrity, and impartiality, and without improper preferential treatment of any person. Learn more about our code of conduct and conflicts of interest rules.

The Federal Reserve Bank of New York is committed to a diverse workforce and to providing equal employment opportunity to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, pregnancy, or military service.

We value accessibility for all candidates and are happy to provide an accommodation or assistance. Please email us at ny.leaves@ny.frb.org and we’ll be glad to help. Please note, this is a dedicated e-mail box designed exclusively to assist applications with accommodation requests in relation to our recruiting process. All other inquires including the status of applications will not receive a response from this e-mail box.

This is not necessarily an exhaustive list of all responsibilities, duties, performance standards or requirements, efforts, skills or working conditions associated with the job. While this is intended to be an accurate reflection of the current job, management reserves the right to revise the job or to require that other or different tasks be performed when circumstances change.

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

Yes

Job Category

Supervisory/Management

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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