Working at the Federal Reserve Bank 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 talented professionals to foster and support the safety, soundness, and vitality of our economic and financial systems. It is a challenge that demands the skills of a financial service professional and the intellectual curiosity of an academic - all combined with a passion for public service.
Risk Specialist Large Bank Supervision
Description of Role:
The Risk Specialist leads and participates in reviews and examinations that evaluate the effectiveness of risk management practices for large, globally systemic financial institutions under Federal Reserve supervisory authority. As a member of the dedicated supervisory team (DST), you will assess risks and the risk management programs of the institution through participation in on-site examinations and regular monitoring practices of business activities to ensure they operate in a safe and sound manner, and comply with applicable banking laws, regulations, and policy statements.
The Risk Specialist will use sound analysis and reason to develop conclusions and recommendations on complex issues including elevating the effectiveness of management, supervisory communications, and risk management practices under review. Through the recommendations, you will negotiate, influence actions, and resolve any conflicts that arise.
The Risk Specialist may also provide leadership or coordinate assistance to support national supervision program management. You will report to the Lead Specialist.
Lead the oversight of departments and services at the largest institutions. Maintain liaisons with institution management, and with Deputy/DST Leads, system risk specialists, and other regulatory agencies.
Support the Governance and Controls (G&C) Program, assess the effectiveness of LISCC firms board of directors, the strength of risk management performed by the firms primary services, and the adequacy of the firms independent risk management and controls.
Help prepare the supervisory strategy and risk assessments for business line related activities, and selectively help vet scopes and findings related to their specific risk specialty area.
Collaborate with Deputy/DST Lead and examiners-in-charge (EICs) and lead risk-focused reviews of departments, business line activities or special projects, and provide written observations and findings appropriate for inclusion in supervisory reports.
Be a team and System resource by leading or participating on high-level projects, workgroups, and strategic programs. Contribute to the understanding of latest risk, risk management practices, and changes in supervision policies, procedures, tools or guidance on a System basis.
Prepare informative, well-supported supervisory products and work papers on complex and problematic supervisory issues that require actions from senior management and the boards of directors.
Maintain a global awareness of relevant regulations, laws, issues, trends and ongoing developments in the financial services industry.
Education and Experience:
A Bachelors degree is required, with a concentration in business management, finance, or accounting preferred.
Knowledge and experience normally acquired through, or equivalent to, the completion of a Master's degree and a minimum of 10 years of commensurate financial industry or regulatory work experience.
Appropriate industry certifications (CFA, CPA, CIA, or CRMA) are preferred.
Desirable Knowledge and Skills:
Advanced knowledge of risk management programs, measurement tools, models, control frameworks, and risk indicators used to make decisions on operational or enterprise risks for an organization.
Capabilities to evaluate a broad range of an institutions operational framework, including, risk management and compliance programs, payment processing activities, custody services, investment management and servicing utilities, and resiliency of operations.
Proficient technical knowledge in a specialty area (e.g. operations, information technology, investment management) and familiarity of management information systems, audit and internal controls.
Our total rewards program offers benefits that are the best fit for you at every stage of your career:
Comprehensive healthcare options (Medical, Dental, and Vision)
401K match, and a fully funded pension plan
Paid vacation and holidays; flexible work environment, healthy workflow
Generously subsidized public transportation
Annual tuition reimbursement
Professional development programs, training and conferences
PLEASE NOTE: The Federal Reserve Bank of Boston is committed to a diverse, equitable and inclusive workplace and to provide equal employment opportunities to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, or military service.
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.
All employees assigned to this position will be subject to FBI fingerprint/ criminal background and Patriot Act/ Office of Foreign Assets Control (OFAC) watch list checks at least once every five years. 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.
The above statements are intended to describe the general nature and level of work required of this position. They are not intended to be an exhaustive list of all duties, responsibilities or skills associated with this position or the personnel so classified. While this job description is intended to be an accurate reflection of this position, management reserves the right to revise this or any job description at its discretion at any time.