Posted in General Business 30+ days ago.
Type: Full-Time
Location: New York, New York
Working 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 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.
The Operational Risk and Resilience (ORR) Team within the LISCC Governance & Controls (G&C) Department fosters safety and soundness through the supervision of operational risk management practices and resilience capabilities pertaining to the critical operations at LISCC firms. The ORR Team's supervisory oversight takes a macro-prudential approach to promote the safety, soundness, and resilience of these interconnected institutions as a whole ecosystem, rather than as discrete entities. Critical Operations covered include, but are not limited to, US dollar (USD) clearing and foreign exchange (FX) settlement, retail payments, securities clearing and settlement and derivatives clearing and settlement.
Your role as Operational Risk & Resilience Supervising Examiner:
Lead firm specific and horizontal examinations to develop well supported supervisory assessments and assess the adequacy of operational risk management and resilience practices
Direct the work of other examiners on large examinations
Present examination results to supervised institutions, Federal Reserve management, staff, and other supervisory authorities
Prepare written reports and other correspondence to communicate analytical findings and matters of supervisory/policy interest to management and recommend follow-up steps
Contribute to development of cross-institutional perspectives on risk management practices, risk indicators, and compare standings to inform annual supervisory assessments and future supervisory work
Drive continuous monitoring regimes including meetings with management, review and analysis of internal risk reports, performance reports, budget projections, business plans, and committee meeting minutes, and other materials for assigned institutions
Lead projects related to ORR topics
Build communication channels with the firms' business lines and risk functions to facilitate timely flow of information
Build relationships with other supervisory teams, risk specialists, senior Reserve Bank and Board staff, and other U.S. and foreign supervisors
What we are looking for:
Strong relevant experience in enterprise operational risk management, including business resiliency, risk control self-assessments, vendor management, data governance and project management.
Knowledge of payments, clearing and settlement operations, including USD clearing, FX settlement, retail payments, securities clearing and settlement (government securities, equities, corporate bonds and municipal bonds), and derivatives clearing and settlement
Experience in project management
Excellent communication skills and familiarity with operational risk management guidance
Salary Range: $178100 - $207900 / 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.
Touchstone Behaviors set clear expectations for leading with impact at every stage of our careers and aspire to achieve in our continued growth and development.
Communicate Authentically: Empathetically engage one another with direct and transparent dialogue and listening. Actively discuss viewpoints with respect and compassion in a timely and candid manner, taking into account verbal and nonverbal cues. Ask questions, learn from each other, and share information widely to move the Bank's work forward.
Collaborate Inclusively: Inspire a diverse and inclusive environment that empowers others to contribute meaningfully. Intentionally bring a diverse set of people together to achieve positive business results.
Drive Progress: Grow and adapt to changing priorities in the Bank. Experiment with new concepts and take appropriate risk to drive innovation. Remain curious and action oriented, navigating through ambiguity and uncertainty to drive outcomes.
Develop Others: Equitably champion, mentor, and develop others to grow professionally. Demonstrate vulnerability and empathy to create a trusted environment.
Take Ownership: Establish an environment of action and excellence by holding self and others accountable to execute to the highest standard.
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
Please note that the 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 permanent residents may be eligible for the information access required for this position if they sign a declaration of intent to become a U.S. citizen and pursue a path to citizenship and meet other eligibility requirements.
In addition, all candidates must undergo an enhanced background check, comply with all applicable information handling rules, and will be tested for all controlled substances prohibited by federal law, to include marijuana.
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, or military service.
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.
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.
Salary: $238,500.00
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