Institutional Supervision Program Lead

Closing on: May 31, 2024
Job Categories: Management Supervisor
Job Types: Full Time
Job Locations: New York City

Working at the Federal Reserve Bank of New York 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 experienced professionals to foster and support the safety, soundness, and vitality of our economic and financial systems.

The Bank believes in work flexibility to balance the demands of work and life while also connecting and collaborating with our colleagues in person. Employees can expect to be in the office a couple of days per week as needed for meetings and team collaboration and should live within a commutable distance.

 

What we do:

The Supervision Group of the Federal Reserve Bank of New York (FRBNY) supervises banks in the Second District. The objectives of supervision are to:

  • Evaluate and promote the overall safety and soundness of supervised institutions.
  • Ensure supervised institutions’ compliance with relevant laws and regulations, including consumer protection.
  • Facilitate the stability of the financial system of the United States.
  • Support the growth and stability of the U.S. economy.

 

Supervision is carried out through a combination of methods, including through on-site and off-site examinations involving staff dedicated to the supervision of an individual firm and other professionals focused on analytical, policy and risk matters. Supervision is coordinated with other US agencies.

 

The Large Institution Supervision Coordinating Committee (LISCC) is the governing body over systemically important financial institutions (SIFI). LISCC firms are global US financial services providers engaged in 1) investment banking including sales and trading; 2) commercial banking; 3) retail banking; 4) transaction banking (i.e., wholesale payments, custody, securities lending and securities servicing), and 5) private wealth and asset management.

The Dedicated Supervisory Team (LISCC – DST) function within the Supervision Group is responsible for the execution of an effective risk-focused supervisory program for the most complex U.S. financial institutions within the Second District.

 

Your role as an Institutional Supervision Program Lead:

  • Responsible for the day-to-day management of the DST; leading a cross-functional team of direct reports responsible for understanding material risks and how they are managed by the supervised institution, and assessing various elements of the supervised firm’s financial condition and risk management capabilities.
  • Coaching and developing members of the team to develop and deliver strong, clear supervisory messages to the supervised firm in partnership with the national LISCC program; Proactively coordinating with System risk specialists and horizontal program colleagues to arrive at a shared understanding of material findings, and incorporating these views into supervisory products, while fostering a collaborative environment.
  • Identifying and prioritizing areas of supervisory focus and suggesting topics for consideration as horizontal reviews. Building strong, collaborative working relationships across the DST, other supervisory teams, Group and Bank leadership, FR System colleagues, and other U.S. and foreign supervisors.
  • Monitoring trends in the governance, financial condition and risk management and controls infrastructure, and offering senior policy-makers deep, real-time insights on key risks and vulnerabilities of the supervised institution to support effective institutional supervision.
  • Overseeing the continuous supervision program for the supervised institution, which includes holding periodic meetings with institution management and counterparts at other agencies and reviewing management reporting to be well-positioned to identify and escalate emerging issues, as well as adjusting the supervisory strategy accordingly.

 

What we are looking for:

  • Experienced professional with a deep understanding of complex financial institutions, their products, risks, governance, and the markets in which they operate.
  • Strong abilities in leading people, prioritization, and ability to influence and communicate in a succinct and compelling manner.
  • Experience managing large, complex projects.
  • Ability to build deep, productive working relationships with a range of internal and external stakeholders.
  • Examiner commission or willingness to enroll in examiner commissioning upon acceptance of the position.
  • Experience in System initiatives including CCAR, CLAR and RRP desirable.

 

Salary Range: $204,000 – $320,000 / year  

We believe in transparency at the NY Fed. This salary range reflects a variety of skills and experiences candidates may bring to the job. We pay individuals along this range based on their unique backgrounds. Whether you’re stretching into the job or are a more seasoned candidate, we aim to pay competitively for your contributions.

 

Our Touchstone Behaviors—Communicate Authentically, Collaborate Inclusively, Drive Progress, Develop Others, and Take Ownership—help shape the culture of the Bank. They also provide a shared language for how we work together and achieve success, and they set clear expectations for leading with impact at every stage of your career with us. Learn more.

  

Benefits:

Our organization offers benefits that are the best fit for you at every stage of your career:

  • Fully paid Pension plan and 401k with Generous Match
  • Comprehensive Insurance Plans (Medical, Dental and Vision including Flexible Spending Accounts and HSA)
  • Subsidized Public Transportation Program
  • Tuition Assistance Program
  • Onsite Fitness & Wellness Center
  • And more

 

This position requires access to confidential supervisory information (CSI) and/or Federal Open Market Committee (FOMC) information. Access to CSI and FOMC information is limited to U.S. citizens, lawful permanent residents, individuals who meet the definition of “protected individual” under 8 U.S.C. § 1324b(a)(3), and certain other nonimmigrants. All non-U.S. citizens authorized to access CSI and/or FOMC information must sign a declaration of intent to expeditiously become a lawful permanent resident and thereafter a U.S. citizen when eligible. 

 

The New York Fed expects its employees to perform their duties with honesty, integrity, and impartiality, and without improper preferential treatment of any person. Learn more about our code of conduct and conflicts of interest rules.

 

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

 

We value accessibility for all candidates and are happy to provide an accommodation or assistance. Please email us at ny.leaves@ny.frb.org and we’ll be glad to help. Please note, this is a dedicated e-mail box designed exclusively to assist applications with accommodation requests in relation to our recruiting process. All other inquires including the status of applications will not receive a response from this e-mail box. 

This is not necessarily an exhaustive list of all responsibilities, duties, performance standards or requirements, efforts, skills or working conditions associated with the job. While this is intended to be an accurate reflection of the current job, management reserves the right to revise the job or to require that other or different tasks be performed when circumstances change.

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 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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