Large Bank Examiner at Federal Reserve Bank (FRB) in Charlotte, North Carolina

Job Description:

Company

Federal Reserve Bank of Richmond

When 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

Bank of America Dedicated Supervision Team – Large Bank Examiner

The Supervision, Regulation, and Credit (SRC) Department’s Large Financial Institutions Supervision (LFIS) unit has two (2) immediate openings for highly motivated professionals to join the Bank of America (BAC) Dedicated Supervision Team (DST). In this position, the candidate will collaborate with talented regulatory professionals within SRC and across our nation’s central bank, participating in the Federal Reserve System’s Large Institution Supervision Coordination Committee’s (LISCC) program.

You will be an integral part of the BAC DST, and this position will give you an opportunity to assess an evolving set of financial and/or non-financial risks in your career journey. The ideal candidate will possess broad supervisory skills across risk management practices, governance, and internal controls. The ideal candidate will be team-spirited, display range, an enthusiastic learner, willing to take on a variety of assignments and have meaningful experiences in one or more of the following areas: capital management, credit risk, interest rate risk, liquidity risk management, wealth management, capital markets, operational resilience, cybersecurity, technology and operations, payment systems, operational risk management, compliance, BSA/AML or internal audit.

You will have ongoing responsibilities for at least one component of LFI (Large Financial Institutions) rating system, including governance and controls, capital management and liquidity. You may even rotate your assignments. You will be asked to provide high-quality supervision through active dialogue with the firm, examinations, ongoing monitoring, horizontal activities, and special projects. You will actively collaborate with and support the LISCC horizontal program as well as colleagues across the System. In executing these responsibilities, you will develop a comprehensive vertical view of the supervised firm. You will report to an Assistant Vice President.

What You Will Do:

• Demonstrate leadership and supervisory perspective by leading and/or performing examinations. This exam work could be firm-specific or as part of system horizontal reviews related to Governance and Controls, Capital or Liquidity. The assignments include working independently as well as executing responsibilities as directed, reviewing submitted materials, conducting meetings with management, the production of workpapers that substantiate conclusions, reviewing workpapers, drawing conclusions, presenting findings and preparing written correspondence.  


• Conduct baseline monitoring, review information and lead ongoing meetings to draw conclusions, sharing observations and emerging risks and trends with the LISCC Program.


• Monitor and document remediation of supervisory issues and elevate issues as appropriate.


• Maintain professional working relationships with Bank of America stakeholders and proactively collaborate with LISCC colleagues internally, across the Federal Reserve System and other regulatory agencies to resolve issues and build consensus regarding supervisory matters. 


• Synthesize information on the supervised firm in quarterly deliverables to escalate current and emerging risks and recommend a proposed supervisory response or activity.


• Contribute to the preparation or refresh of supervisory plans for relevant and effective risk-based supervision factoring in the size, risk and complexity of the firm.


• Prepare presentations for Reserve Bank management on examination conclusions, supervisory issues, emerging risks, or specific topics of interest.  


• Participate in projects, initiatives, and committees that are of strategic importance to SRC or the Federal Reserve System.


• Complete the Examiner Commissioning Program (if not commissioned). 

Qualifications and Skills:

• 3+ years of regulatory experience or commensurate industry experience in auditing, risk management or public accounting.


• Bachelor’s degree in relevant field is required. Graduate degrees, relevant professional certifications (CPA, CIA, CISA, etc.) and/or commissioned bank examiners are desirable.


• Proven ability to lead and work in a team environment and focus on high quality execution.


• Sound organizational, analytical, oral and written communication skills, including complex banking rules. 


• Self-starter with a strong desire to learn and coach others, a positive attitude and exhibits flexibility to quickly change direction. 


• Strong problem solving and analytical skills with the ability to analyze large amounts of information, enable sound decision-making and create meaningful change.


• Ability to work in a detailed manner as well as to look strategically across a function to develop connections and themes identifying risk and material concerns.


• Demonstrated ability to assess front-line business unit, independent risk management and oversight functions for the assigned area.


• 20-30% travel may be required and will vary depending on the location of the successful candidate.

Other Requirements and Considerations:

• Candidates may be located in Charlotte, NC (preferred) or Richmond, VA.


• 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 – Int is $85,800 – $107,300 annually (3+ years of experience)


• 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.


• The Fifth District provides a hybrid work environment.  This position is required to be onsite on Tuesday, Wednesday, and Thursday each week.

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.

Always verify and apply to jobs on Federal Reserve System Careers (https://rb.wd5.myworkdayjobs.com/FRS) or through verified Federal Reserve Bank social media channels.

Privacy Notice

Apply Now