Federal Reserve Bank (FRB)

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Large Bank Examiner - Recovery and Resolution Preparedness (RRP) (Finance)



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

The Supervision, Regulation, and Credit (SRC) Department's Large Financial Institutions Supervision (LFIS) unit has an immediate opening for a highly motivated professionals to join the Large Institution Supervision Coordinating Committee (LISCC) function focusing on Recovery and Resolution Preparedness of the largest most systemically complex firms.

The Large Institution Supervision Coordinating Committee (LISCC) function is responsible for the development and execution of an effective continuous risk-focused supervisory program for the most complex financial institutions, which includes US Bank Holding and Intermediate Holding Companies that are currently subject to Federal Reserve Systems oversight.  This includes an understanding of and assessment of the firm's risk profile, governance structure, and strategy with the expressed goal of identifying institutional-specific and horizontal/systemic areas of concern.  Its primary objective is to maintain safe and competitive U.S. and global banking systems.

The purpose of the Recovery and Resolution Preparedness Program (RRP Program) is to help ensure that LISCC firms are prepared for, and have the capabilities to manage, a severe stress and to be resolved in an orderly way without threatening financial stability.  This is achieved through staff assessments of firms' capabilities to resolve themselves as well as the development of the Federal Reserve's own analytical and operational preparation for a LISCC firm that is in deep stress or needs to be resolved.  In addition, the RRP Program focuses on coordination among domestic and international regulators due to the complexity of operations and cross-border presence of the LISCC firms.

The successful candidate will have a proven record of strong analytical skills and excellent written and verbal communication skills. The successful candidate will be able to:

What You Will Do:

  • Lead or participate in firm-specific or horizontal supervisory reviews of recovery and resolution plans;
  • Lead or assist in specific examinations to address knowledge gaps, or to review elements of firms' resolution plans not covered in sufficient depth in previous year's Title 1 assessment, or areas that have undergone significant remediation or change.
  • Collaborate closely with other stakeholders to identify and develop supervisory responses to inherent and emerging risks that may impact resolution and recovery planning. Examples of other stakeholders include dedicated supervisory team (DST), horizontal evaluation teams (HET), FDIC and international supervisory bodies (PRA, ECB, etc.).
  • Develop presentations and recommended messages for the RRP Steering Committee, as well as present any key divergent views to the senior stakeholders for final review and approval.
  • Coordinate and collaborate with LISCC program pillars, including the Capital Program, the Liquidity Program, the Monitoring and Analysis Program (MAP) and the Governance and Controls Program (GC), by participating in firm specific and horizontal examinations across various teams.
  • Serve as a subject matter expert on Recovery and Resolution topics.

Qualifications:

  • 3+ years of relevant work experience preferred, with a good overall understanding of the objectives and supervisory expectations regarding firms' recovery and resolution preparedness
  • Bachelor's degree required, master's degree or advanced degree is a plus
  • Prior industry experience or experience in working with other supervisors and regulators
  • Hold an active Examiner commission or willingness to obtain examiner commission credentials
  • Demonstrated expertise in at least one of the financial or operational topics
  • Strong analytical and critical thinking skills demonstrated by the ability to assimilate information, put it in a broader context, and recommend a path forward
  • Excellent communication skills, both written and oral presentation, with experience in building consensus across multiple stakeholders toward common views
  • Ability to thrive as a member of a team and to build collaborative working relationships with colleagues across teams and at different levels.

Other Requirements and Considerations:

  • Candidates may be located in Charlotte, NC 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 $90,300 – $112,900 annually (3+ years of experience)
  • The hiring range of the Examiner – LFI – Sr is $124,600 – $155,700 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.
  • Applications are reviewed on a rolling basis. Interested applicants are encouraged to apply by Monday January 6th, 2025.

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)

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