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Banking Supervisor - Risk Specialist at Federal Reserve Bank (FRB)

Posted in Management 30+ days ago.

Type: Full-Time
Location: Cleveland, Ohio





Job Description:

Company

Federal Reserve Bank of Cleveland

The Federal Reserve Bank of Cleveland is part of the nation’s central bank and we’ve provided many opportunities for professional growth during our history.

We’ve been named “One of Northeast Ohio’s Best Places to Work” by North Coast 99. This prestigious award honors organizations with outstanding employment practices, including compensation, benefits, training, recruitment, retention, community services, and employee communications.

Our People Make the Difference! The Federal Reserve Bank of Cleveland is seeking innovative thinkers with vision to build the framework that will carry the Bank into the future.

Follow us on LinkedIn, Twitter, Instagram, and our YouTube channel – Cleveland Fed

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.

Oversees the supervisory program for state member banks and financial/savings and loan holding companies from a corporate compliance perspective. Supports the Federal Reserve's mission for strengthening financial system stability by proactively identifying emerging risks and trends at the micro level (institution specific), horizontal level (industry wide/peer), and macro level (financial system supervision). Manages a team of professionals, overseeing their supervisory work products and development.

General Responsibilities


  • Manages the consumer compliance risk, including CRA and Fair lending, for a portfolio of firms ensuring appropriate supervisory strategies are developed and executed and that appropriate supervisory decisions/conclusions are reached. This includes state member community banking organizations as well as large and regional financial institutions. Composes, reviews, revises, and finalizes and/or conducts formal communications with senior management and boards of directors of state member banks, bank holding companies, savings and loan holding companies, and non-bank subsidiaries. Ensures consumer compliance risks are identified in a timely manner and supervisory ratings are well supported. Establishes and maintains effective communications and working relationships with FRS officials and other regulatory and industry stakeholders (state agencies, Board of governors, OCC, FDIC, SEC) to ensure timely communication of key risks and the adequacy and consistency of supervisory response.


  • Oversees the consumer complaint's function and ensure the activities are in alignment with Reserve Bank and Federal Reserve standards and guidelines.  


  • Manages a team of professionals, oversees their work products and their development, including overseeing the development of noncommissioned examiners. Provides coaching and mentoring and assists with implementing appropriate talent development and succession planning programs. Ensures accountability of team’s performance and ability to achieve performance expectations and strategic priorities. Performs all Human Resources performance administration responsibilities (hiring, development, coaching, mentoring, performance evaluations/ratings, and compensation) for assigned staff.


  • Responsible for scheduling and ensuring exam activities are conducted in accordance with established time metrics.


  • Conducts advanced analysis of individual firms, portfolios of firms, and/or broader financial system and financial markets that furthers the System's ability to proactively identify emerging consumer compliance, CRA, and Fair Lending risks within the banking and financial market sector. Incorporates analysis into supervisory approaches and plans, as appropriate.


  • Leads or participates on the most critical, most complex local and national strategic or operational projects, committees and initiatives intended to enhance policy, supervisory standards and processes, examiner training, address emerging issues or developments, or enhance quality, performance, and effectiveness. Develops and supports outreach efforts of the Reserve Bank and/or regulatory community. Incorporates results of these activities into ongoing supervisory process.


  • Demonstrates and maintains expertise on consumer compliance banking and regulatory related practices, standards, trends, and issues and serves as a resource for examination staff, Reserve Bank management, as well as management of supervised institutions.


  • Demonstrates learning agility and ability to effectively manage through ambiguity when faced with new/evolving topics and regulations or supervisory issues/situations that do not have clear solutions or outcomes. 


  • Encourages knowledge sharing, diverse supervisory perspectives, and emerging risk information through participation in vetting(s), roundtable discussions, and/or team meetings.  


  • Performs other duties as assigned or requested.


  • Adheres to the Bank's attendance policies through regular and prompt attendance.


      Education and Experience


  • Bachelor's Degree in Accounting, Finance, Mathematics, Economics, or related field.


  • 7+ years of related work experience in specialty area required.


  • Commissioned Examiner of the Federal Reserve System strongly preferred. Candidates in the process of obtaining their commissioning qualify as long as they complete their commission within an agreed upon timeframe.  


Knowledge and Skills


  • Advanced presentation skills


  • Advanced written and verbal communication


  • Expert problem solving/analytical skills


  • Advanced strategic thinking/planning


  • Advanced specialized compliance, CRA, and Fair Lending skills


  • Advanced ability to ensure accountability


  • Intermediate ability to cultivate innovation


  • Expert Knowledge of regulations, procedures and practices of bank examination.


  • Advanced ability in building effective teams


  • Advanced ability to perform independent research


  • Intermediate budgeting


  • Intermediate knowledge of Microsoft Office


  • Advanced training


Physical Demands and General Working Conditions

Traditional office environment: Employees typically sit most of the day, work with a computer and may answer/respond to phone calls. Physical movement consists of walking for meetings, breaks, etc. Ability to lift items weighing approximately 20 pounds on a limited basis is required. Employees will be required to travel by car/air.

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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