Enterprise Risk Assessment Officer

2 weeks ago

Houston, Texas, United States Federal Reserve Bank of Cleveland Full time
Company
Federal Reserve Bank of Cleveland

At the Federal Reserve Bank of Cleveland, we are committed to enhancing the public's trust in our financial system and fostering a robust economy. Our diverse team works collaboratively to create an environment where skilled professionals can excel, and we value your unique insights and experiences to help us deliver optimal solutions for our stakeholders.

Position Overview:

We are seeking a qualified individual to join our supervisory team focused on Large and Foreign Banking Organizations (LFBO). As a Compliance Risk Analyst, you will play a pivotal role in evaluating the enterprise's legal and compliance risks, along with the associated risk management strategies, ensuring the organization's safety and soundness. You will report directly to the Director of Examinations and collaborate with a team of examiners to assess Governance and Controls (G&C) in alignment with the Federal Reserve's Large Financial Institution's (LFI) Rating Framework.

This position offers a unique opportunity to engage with a Category III institution under the Dodd-Frank Act Enhanced Prudential Standards. The successful candidate will gain insights into the evolving landscape of risk management within the financial sector, spanning all three lines of defense. Familiarity with the Consolidated Supervision Framework for Large Financial Institutions and the LFI Ratings Framework is advantageous. Additionally, experience in Compliance Risk Management Programs at complex banking organizations is preferred.

Key Responsibilities:
  • Oversee the evaluation of legal and compliance risks, emphasizing enterprise compliance risk management and facilitating assessments across various operational domains, including corporate functions and consumer banking.
  • Participate in supervisory assessments and reviews of enterprise risk management, board effectiveness, and operational risk management.
  • Act as the Examiner-in-Charge for supervisory events, conducting coordinated reviews and engaging with internal teams and external regulators.
  • Contribute to the evaluation of regulatory ratings for Risk Management and Governance.
  • Design and implement a robust risk-focused supervisory program in line with LFBO Management Group's requirements.
  • Conduct ongoing risk-focused supervisory activities, including management meetings to gain comprehensive insights into the firm's strategies and risk management practices.
  • Develop innovative approaches for assessing risk management practices relative to industry peers and integrate data into the supervisory process.
  • Communicate supervisory expectations clearly to management regarding compliance and risk management.
  • Collaborate with fellow risk specialists and regulatory examiners to enhance understanding of legal and compliance risks.
  • Foster effective working relationships within the team and with external regulatory agencies.
  • Exhibit flexibility and leadership by assisting with other risk-related topics as needed.
  • Ensure timely completion of supervisory deliverables and maintain quality control in accordance with regulatory standards.
  • Interpret regulatory guidance and assess its implications for the firm's safety and soundness.
Qualifications:
  • A Bachelor's degree in business administration, finance, economics, or a related field is required; an advanced degree is preferred.
  • A minimum of seven years of relevant supervisory or regulatory experience in the banking or financial sector. An active examiner commission is a plus.
  • Proficiency in the Federal Reserve's Consolidated Supervision Framework and LFI rating methodologies, along with knowledge of compliance regulations.
  • Exceptional written and verbal communication skills, with the ability to convey complex concepts clearly.
  • Strong analytical capabilities and problem-solving skills to support sound decision-making.
  • Experience in evaluating risks faced by complex financial institutions and identifying effective risk management practices.
  • Ability to manage multiple initiatives simultaneously and achieve successful outcomes.
Benefits:

We offer a comprehensive benefits package designed to support you at every stage of your career, including:
  • Comprehensive healthcare options (Medical, Dental, and Vision)
  • 401K matching and a fully funded pension plan
  • Paid time off, holidays, and flexible work arrangements
  • Subsidized public transportation and free parking
  • Annual tuition reimbursement
  • Professional development opportunities, training, and conferences
  • And more...
Notes:
This role allows for a hybrid work arrangement, combining onsite and remote work. Specific scheduling details will be discussed during the recruitment process.

The Federal Reserve Bank of Cleveland is an Equal Opportunity Employer committed to diversity and inclusion in our workforce. We value the unique perspectives and experiences of our employees and strive to create an inclusive environment.

If you require assistance or accommodations due to a disability, please inform your Talent Acquisition Consultant.

Employment Type
Full time

Job Status
Regular

Exempt Status
Yes

Job Category

Work Shift
First (United States of America)

The Federal Reserve Banks are dedicated to fostering a diverse and inclusive workplace, and we are committed to equal employment opportunities for all employees and applicants.

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