Senior Examiner for Foreign Banking Institutions

2 weeks ago

New York, New York, United States Federal Reserve Bank of Cleveland Full time
Company
Federal Reserve Bank of Cleveland

At the Federal Reserve Bank of Cleveland, you will find yourself at the forefront of the financial landscape, gaining invaluable insights into both national and global markets and economies. You will collaborate with a diverse team of seasoned professionals dedicated to ensuring the safety, stability, and health of our economic and financial systems.

The Bank values flexibility in the workplace, promoting a balance between professional responsibilities and personal life while fostering in-person connections and teamwork. Employees are expected to work in the office a few days each week as necessary for meetings and collaboration, and should reside within a reasonable commuting distance.

About Us:

The Supervision Group at the Federal Reserve Bank of Cleveland oversees banks within its jurisdiction. The primary goals of our supervision include:
  • Assessing and enhancing the overall safety and soundness of supervised institutions.
  • Ensuring compliance with applicable laws and regulations, particularly in consumer protection.
  • Supporting the stability of the U.S. financial system.
  • Facilitating the growth and stability of the U.S. economy.
Our supervision is conducted through various methods, including both on-site and off-site examinations, involving teams focused on individual firms as well as specialists in analytical, policy, and risk areas. Coordination with other federal and state agencies is a key aspect of our supervision efforts.

The Large and Foreign Banking Organization (LFBO) function is tasked with overseeing the safety and soundness of significant domestic firms and all foreign-owned entities operating in the U.S. This includes a substantial number of Less Complex Foreign Banking Organizations (LCFBOs) within our jurisdiction.

Your Role as a Supervising Examiner:

As a Supervising Examiner for the LCFBO Portfolio, you will be responsible for overseeing a selection of less complex institutions. Your responsibilities will include examining and monitoring the business strategies and associated risks of these firms, assessing their financial health, and ensuring compliance with relevant laws and regulations. You will also review and respond to regulatory applications related to mergers, acquisitions, and other growth initiatives, while engaging with the Boards of Directors and senior management of the supervised firms. Additionally, you will coordinate supervisory activities with other federal and state authorities.

Key Responsibilities:
  • Leading or participating in firm-specific and cross-institutional examinations, producing well-supported supervisory assessments.
  • Assisting in the development of supervisory plans for institutions with non-complex to moderately complex risk profiles.
  • Executing supervisory plans and fulfilling mandates for one or more risk categories and/or institutions.
  • Presenting examination findings to supervised institutions, Federal Reserve management, and other supervisory bodies.
  • Assisting in the implementation of continuous monitoring programs, including meetings with management and reviewing internal risk reports and business plans.
  • Analyzing industry practices and trends to identify emerging risks as financial products and markets evolve.
  • Maintaining collaborative relationships with other supervisory teams and risk specialists to achieve a shared understanding of significant issues and remediation efforts.
  • Contributing to the operational excellence of the supervisory program and associated processes.
Qualifications:
  • Experienced professional with a comprehensive understanding of the financial system, including legal and organizational structures, risk-taking, and risk management practices across various financial risks.
  • Ability to conduct supervisory activities with minimal oversight, prioritize tasks, assimilate new information quickly, and engage in thorough analysis.
  • Strong collaborative skills, fostering productive working relationships and promoting an inclusive culture that values diverse perspectives.
  • Excellent communication skills, both written and verbal, with the ability to synthesize and convey complex information succinctly to stakeholders at all levels.
  • Commissioned examiner status or willingness to pursue examiner commissioning training upon acceptance of the position.
  • Limited travel may be necessary for examinations, training, and meetings.
Salary Range: $229,300 / year

We believe in transparency at the Federal Reserve Bank of Cleveland. This salary range reflects the diverse skills and experiences candidates may bring to the role. We strive to offer competitive compensation based on individual backgrounds.

Benefits:

Our organization provides a comprehensive benefits package tailored to support you at every stage of your career:
  • Fully funded Pension plan and 401k with generous matching contributions.
  • Comprehensive insurance options (Medical, Dental, and Vision) including Flexible Spending Accounts and Health Savings Accounts.
  • Subsidized public transportation program.
  • Tuition assistance program.
  • Onsite fitness and wellness center.
  • And more.
This position requires access to confidential supervisory information (CSI) and/or Federal Open Market Committee (FOMC) information. Access is limited to U.S. citizens, lawful permanent residents, and certain other nonimmigrants. All non-U.S. citizens authorized to access CSI and/or FOMC information must sign a declaration of intent to become a lawful permanent resident and subsequently a U.S. citizen when eligible.

The Federal Reserve Bank of Cleveland is committed to a diverse workforce and providing equal employment opportunities to all individuals without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, pregnancy, or military service.

This is not an exhaustive list of all responsibilities, duties, performance standards, or requirements associated with the position. Management reserves the right to revise the job or require different tasks as circumstances change.

Full Time / Part Time
Full time

Regular / Temporary
Regular

Job Exempt (Yes / No)
Yes

Job Category
Supervisory/Management

Work Shift
First (United States of America)

The Federal Reserve Banks believe that diversity and inclusion among our employees are critical to our success as an organization, and we seek to recruit, develop, and retain the most talented individuals from a diverse candidate pool.

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