Operational Risk & Resilience Lead Examiner at Federal Reserve Bank (FRB) in New York, New York
Posted in Construction about 7 hours ago.
Type: Full-Time
Job Description:
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’s flexible work model supports balancing the demands of work and life, while prioritizing the value of connecting and collaborating with our colleagues in person. Employees are expected to live within a commutable distance of their primary work location to support team collaboration.
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 Large Institution Supervision Coordinating Committee (LISCC) Program function is responsible for executing the LISCC supervisory program (covering Capital, Governance and Controls, Liquidity, Recovery and Resolution Planning, and Monitoring and Analysis) for domestic global systemically important banks (G-SIBs). This supervision is accomplished through close coordination and in partnership with LISCC Dedicated Supervisory Teams (LISCC - DST) assigned to supervise individual firms, other Group business leaders, as well as LISCC leadership at the Board of Governors and other Federal Reserve Banks.
Within the LISCC (Large Institution Supervision Coordinating Committee) Governance & Controls Program, the Operational Risk & Resilience (ORR) horizontal team supervises the safety, soundness and resilience of large financial institutions. The ORR horizontal team evaluates the risk management capabilities that support the identification, measurement, assessment, and control of the full spectrum of operational risks, business line operational controls and technology, risk control self-assessment, risk aggregation, data management, vendor risk management, and business resiliency and continuity of supervised financial institutions. In addition to ORR-related examination work, the team’s year-round monitoring efforts include focused firm engagement and analysis designed to monitor firms’ strategies, products, and risk taking related to operational risk and resilience, with the goal of directing and informing future supervisory activity.
Your role as Operational Risk and Resilience Lead Examiner:
Participate in the planning and execution of complex supervisory work to assess the adequacy of operational risk management and resilience practices. Supervisory work includes cross-firm/horizontal examinations, firm-specific examinations, remediation validation, and monitoring activities.
Engage with firm-specific Designated Supervisory Teams (DSTs) and Program Function to discuss and develop annual supervisory plans related to ORR activities.
Work with DSTs to lead monitoring meetings with firms and analyze firm MIS reports to inform supervisors' views on a range of topics, including identifying new risks and understanding changes in existing risks.
Develop assessments of ORR activities as an input to firms' supervisory ratings.
Develop cross-institutional perspectives on sound or leading practices, risk indicators, and comparative standings to inform supervisory policies.
Lead, or participate on, projects related to ORR topics, including working on Federal Reserve System (FRS) projects and conducting analysis on topics of special interest to the team.
Present supervisory findings/issues to staff and senior management within the FRS and management at supervised institutions.
Provide clear, balanced and well-supported messages to senior management of supervised institutions.
Prepare written reports and other correspondence to communicate analytical findings and matters of supervisory/policy interest to management, and recommend follow-up steps. Lead, or participate in, supervisory work with colleagues across the Federal Reserve System, including staff from other LISCC supervisory programs (e.g., Capital, Liquidity, Monitoring & Analysis and Recovery & Resolution), the Board of Governors (e.g., Supervisory Policy and Reserve Bank Operations) and other Reserve Banks, as applicable.
Coordinate supervisory work with colleagues in other domestic and international regulatory agencies, as applicable.
Provide expertise to, and guide strategic orientation on, the team's projects by applying relevant experience, as applicable.
What we are looking for:
Working knowledge of industry practices in operational risk management, resilience and/or payments, clearing and settlement activities preferred
Strong collaboration skills and ability to develop relationships including with senior management, System staff, and other regulators
Strong oral, written, and presentation skills, with an ability to communicate highly complex issues to a wide range of audiences
Working knowledge of the Federal Reserve’s Consolidated Supervision Framework for Large Financial Institutions, LFI ratings and other relevant supervisory guidance is preferred Proficiency in using common software applications (e.g., maintain complex spreadsheets in MS Excel, develop presentations in PowerPoint, querying and reporting data using Tableau, etc.).
Salary Range: $145000 - $172000 / year
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 timeRegular / Temporary
RegularJob Exempt (Yes / No)
YesJob Category
Risk ManagementWork 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.