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Large Bank Examiner, Retail Credit Risk

Federal Reserve Bank of Minneapolis

Federal Reserve Bank of Minneapolis

Multiple locations
Posted on Tuesday, June 11, 2024

Company

Federal Reserve Bank of RichmondWhen you join the Federal Reserve—the nation's central bank—you’ll play a key role, collaborating with a dynamic and diverse team of mission-driven professionals to strengthen and protect our economy and our communities.

Bring your passion and expertise, and we’ll provide the opportunities that will challenge you and propel your growth—along with a wide range of benefits and perks that support your health, wealth, and life. In addition to competitive compensation, we offer a comprehensive benefits package that includes tuition assistance, generous paid time off, top-notch health care benefits, child and family care leave, professional development opportunities, a 401(k) match, pension, and more. All brought together in a flexible work environment where you can truly find balance.

About the Opportunity

The Supervision, Regulation, and (SRC) Credit Department, Large Financial Institutions Supervision (LFIS) unit has an immediate opening for a Large Bank Examiner, focusing on retail credit risk management.

A Large Bank Examiner supports the Central Bank’s supervision of global, systemically important financial institutions and evaluates the risk management practices for the largest financial institutions in the country. You will collaborate with people across the Federal Reserve System and will contribute to the Large Institution Supervision Coordination Committee (LISCC) Capital Program.

The ideal candidate will be highly motivated, team-spirited, an enthusiastic learner, willing to take on a variety of assignments and have experience in one of more of the following:

  • Retail or Consumer Credit
  • Credit risk
  • Bank examinations or assessments
  • Capital stress testing

What You Will Do:

  • Participate on or lead examinations and other supervisory events related to retail credit, including assessments of firm’s stress testing, credit risk management, credit review, reserving, and underwriting and origination practices.
  • Leverage firm management meetings, firm information and reporting, and other data to conduct ongoing monitoring and inform future assessment events related to retail credit.
  • Support conclusions and communicate results with supervisory staff through clearly written products and key meetings.
  • Contribute to preparation of supervisory plans for relevant and effective risk-based supervision.
  • Collaborate and build relationships with colleagues across Federal Reserve System, the LISCC program and key supervisory staff.
  • Communicate regularly with supervised large financial institutions, regulatory agencies and Federal Reserve system management.
  • Contribute to and periodically lead Federal Reserve System and Department workgroups.
  • Support Fifth District supervision of non-LISCC large financial institutions as available.
  • 25-30% Travel is required, travel may vary depending on the location of the successful candidate

Qualifications:

  • 5+ years of experience as an examiner or in the financial services industry.
  • Experience assessing or analyzing financial risks or stress testing required, ideally related to credit risk.
  • Exposure to retail credit, credit risk management, analytics, statistical methods, large bank operations, loan loss reserving or model risk desirable.
  • Bachelor’s degree required, preferably in Finance, Economics, Business, or related field. Master’s degree preferred.
  • Commissioned Examiner or willingness to obtain Commissioned Examiner credentials.

Other Requirements and Considerations:

  • This position is open to Charlotte, NC and Richmond, VA. There is a preference for this position to be located in Charlotte, NC.
  • Candidates should review the Bank’s Employee Code of Conduct to ensure compliance with conflict of interest rules and personal investment restrictions.
  • If you need assistance or an accommodation due to a disability, please notify rich.recruitment@rich.frb.org.
  • Employees who work at and/or visit another Federal Reserve entity or outside business as part of their job duties are required to comply with any onsite safety and health protocols of those organizations (including, but not limited to, requirements to vaccinate or test, mask, social distance, etc.).
  • 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.
  • Under Conflict of Interest guidelines administered by the Board of Governors of the Federal Reserve System, examining personnel may not participate on an examination of a financial institution or affiliate if the examiner was employed by the financial institution or affiliate within the past 12 months.
  • Please review Bank’s Employee Code of Conduct to ensure there are no major issues related to your previous employment and current financial interests (relevant sections are 5.3 and Appendix B, Parts I, II and III). FRB ethics rules generally prohibit employees and their immediate families from owning investments in banks, savings associations, or their holding companies (Section 5.3). Additionally, employees engaged in Supervision and Regulation may be subject to borrowing and deposit restrictions. These employees may need to recuse themselves from certain supervisory work based on:
    • Their borrowing relationships (Appendix B Parts I.1, II.1 and II.2)
    • If a financial institution employs a member of the employee’s immediate family (i.e. spouse, child, parent, or sibling) (Appendix B Part I.3 and Part II.3)
    • If the individual was employed by the financial institution or affiliate within the past 12 months (Appendix B Part I.3 and II.3).
    • In certain cases, the recusal may be so extensive it could materially reduce the effectiveness of the prospective employee’s job responsibilities.
  • The hiring range of the Examiner – LFI – Sr is $123,000 – $153,800 annually (5+ years of experience)
  • The hiring range of the Examiner – LFI – Adv is $137,100 – $171,400 annually (9+ years of experience)
  • Salary offered will be based on the job responsibilities and the individual’s knowledge, skills, and experience as defined in the job qualifications.

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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