Job details

Large Bank, Financial Risk Examiner

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 and experienced professional to join the Truist Financial Corporation Dedicated Supervision Team (DST). In this position, the candidate will collaborate with talented regulatory professionals within SRC and across our nation’s central bank, participating in the Federal Reserve System’s Large Bank Organization (LBO) program.

The ideal candidate would be a generalist with broad supervisory/regulatory skills, including financial risk management with a focus on one of the following areas: liquidity, capital markets, capital, credit risk or internal audit. You will be an integral part of the DST, and this position will give you an opportunity to broadly assess financial risks in accordance with regulatory guidelines. The ideal candidate will be team-spirited, an enthusiastic learner, willing to take on complex assignments spanning various risk disciplines. You will provide high-quality financial institution supervision through active dialogue with the firm, examinations, ongoing monitoring, horizontal activities, and special projects. You will actively collaborate with, and support, the LBO horizontal program as well as colleagues across the System. In executing these responsibilities, you will develop a comprehensive vertical view of the supervised firm.

What You Will Do

Specific job responsibilities include, but are not limited to, the following:

Lead or participate on examinations and conduct ongoing monitoring to determine the effectiveness of a firm’s risk management programs and key business lines.
Perform examination work that is tailored for risk by ensuring safe and sound operations and compliance with applicable laws and regulations. This includes working independently as well as executing responsibilities as directed, reviewing submitted materials, conducting meetings with management, and the production of workpapers that substantiate conclusions.
When serving as lead (e.g., Examiner-in-Charge), execute risk focused examinations by setting a scope, leading a team of examiners, reviewing workpapers, drawing conclusions, and presenting findings.
Conduct ongoing monitoring of information (e.g., board and senior committee packages) to draw conclusions about risks and trends. Demonstrate well-reasoned judgement in decision making and clearly communicate conclusions to senior management of the supervised institution(s) and internal stakeholders.
Monitor and document remediation of supervisory issues and elevate issues as appropriate.
Identify and communicate current and emerging risks, their impact on the supervised financial institution(s) and the broader financial services industry.
Contribute to preparation of supervisory plans for relevant and effective risk-based supervision factoring in size and complexity of the firm.
Develop and maintain professional working relationships with key internal and external stakeholders including at the supervised firm(s), within SRC and the Federal Reserve System, and with other regulatory agencies.
Participate in system horizontal reviews for Capital, Liquidity, Governance and Controls, as needed.

Qualifications and Skills:

Experienced financial professional with a minimum of 5 years of relevant work experience or regulatory experience in one or more of the following areas: liquidity, capital markets, capital, credit risk or internal audit.
Bachelor’s degree in relevant field is required. Graduate degrees, relevant professional certifications and/or commissioned bank examiners are desirable.
Must be willing to travel (up to 20%), which may vary depending on circumstances.

Preferred Skills:

Prior LBO horizontal supervision assessment experience is a plus.
Proven ability to lead and work in a team environment and focus on high quality execution.
Self-starter with a strong desire to learn and coach others, a positive attitude, and exhibits flexibility to quickly change direction.
Strong problem solving and analytical skills with the ability to analyze large amounts of information, enable sound decision-making and create meaningful change.

Discover the Reason Why So Many People Love It Here!

When you join the Richmond Fed, not only will you find a challenging and purposeful career, but you will also have access to a wide range of benefits and perks that support your health and wealth, including:

Great medical benefits
Pension and 401(k) with employer match
Generous paid time off
Tuition reimbursement
Employee resource networks
Paid volunteer leave
Flexible work options
Onsite amenities that make working here fun

Other Requirements and Considerations:

Candidates may be located in Charlotte, NC (preferred) 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
.
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.
Title and salary offered will be based on the job responsibilities and the individual’s knowledge, skills, and experience.
- LFI Intermediate is $ 84,500 - $105,600 annually (*3+ years’ experience)
- LFI Senior is $119,700 - $149,600 annually (*5+ years’ experience)
- LFI Advanced is $133,200 - $166,500, annually (*9+ years’ experience)
Candidates are strongly encouraged to apply by August 4, 2023. Afterwards, applications will be reviewed on a rolling basis.

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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Federal Reserve Bank of Richmond Glassdoor Company Review

4.2

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CEO of Federal Reserve Bank of Richmond

Tom Barkin

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By Federal Reserve Bank of Richmond

We strengthen the economy and our communities by fostering the stability, integrity and efficiency of our nation's monetary, financial and payments systems. Our Vision: We strive to be an innovative policy and services leader for America's econom...

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INDUSTRY

Banking & Lending

TEAM SIZE

1001-5000

LOCATION

Hybrid, based in Richmond, VA

DATE POSTED

August 4, 2023