at Federal Reserve System in Chicago, Illinois, United States
Job Description
Company
Federal Reserve Bank of Chicago
The Large Financial Banking Organizations (LFBO) Division within the Supervision and Regulation (S&R) Department of The Federal Reserve Bank of
Chicago is seeking candidates for a position focusing on the assessment of non-financial risks within a large and complex financial institution.
The qualified candidate will work closely with team members and other stakeholders to evaluate the effectiveness of the firm’s consolidated risk management governance and controls framework across the three lines of defense in addition to the effectiveness of firms audit program. The individual will lead the assessment through ongoing continuous monitoring activities and examinations over corporate governance, enterprise risk management, internal controls, and audit functions, that supports the identification, measurement, assessment, and control of the full spectrum of risks.
Additionally, as a member of a large bank dedicated supervisory team, the candidate will participate in assessing risk management practices of the firm across other risk topics. Depending on needs, the candidate may also be engaged to lead or support other team, department, and system initiatives.
The level of work is considered advanced, and the qualified candidate must be able to work under minimal supervision. This position has no direct reports.
Your Responsibilities:
+ Consults and serves as an initial contact and subject matter expert for the supervised areas
+ Reviews the firm’s business model and understands the relevant supervisory expectations and requirements the firm is subject to, and interprets how those requirements impact the organization’s related processes and risk management practices
+ Leads and/or participates in supervisory activities in relation to firm’s Governance and Control processes and peer institutions as appropriate. This may include horizontal assessments of related advanced risk management practices across the Seventh District and the System
+ Leads and facilitates the incorporation of the team’s analysis across different risk stripes/lines of business into a holistic assessment of the firm’s overarching Governance and Control environment
+ Prepares and delivers clear and persuasive findings in executive summaries and reports, project proposals and analysis on the firm’s related processes, formal written and verbal presentations on supervisory conclusions and relevant issues to both financial institution and senior Reserve Bank management
+ Performs ongoing supervision through meeting with firm management and reviewing firm submitted materials to ensure objective and timely assessments
+ Establishes collaborative and strategic working relationships and networks with internal and external stakeholders, such as other Reserve Banks, the Board of Governors and other regulatory agencies
+ Maintains an understanding of key risk management perspectives from other regulatory agencies that impact the supervised areas, and holistically integrates other regulatory perspectives to help inform the team’s supervisory assessment.
+ Proactively serves as a mentor and/or coach; advises others, identifies training of less experienced staff members and provides guidance, training and constructive feedback to all levels of staff and management
Your Background:
+ Bachelor’s degree or equivalent experience
+ Ten plus years of direct work-related experience
+ Experience in Large Bank Supervision is preferred
+ Demonstrates advanced independent thinking, critical analysis and decision-making abilities
+ Advanced written and oral communication skills
+ Possesses strong teamwork skills and the ability to build and work inclusively and collaboratively within and across work teams, as well as with individuals from external organizations
+ Demonstrates the ability to effectively lead and influence a team with limited oversight and resolve complex to highly complex issues in a productive and timely manner
+ Demonstrates the ability to manage time and projects effectively by adjusting quickly to new and different priorities
+ Possesses a general business acumen
+ Federal Reserve System Examiner Commissioning or progress towards preferred
What we offer:
+ Comprehensive benefits package, including medical, dental, vision, prescription drug coverage, 401k savings plan, retirement plan, paid time off, and transit benefit.
+ A continuous learning environment with opportunities to gain new skills and grow your career.
+ A wide range of Diversity, Equity, and Inclusion community groups as well as active employee resource groups and mentorship programs.
+ Onsite gym and subsidized cafeteria.
Location:
This position is considered a hybrid position. Your presence will be expected at one of the 7th District locations-Chicago, Detroit or Des Moines. Preferred location- Chicago.
Other Requirements:
+ Ability and willingness to travel up to 10%.
+ 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 applicable background checks 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.
+ As a condition of employment, Federal Reserve Bank of Chicago employees must comply with the Bank’s ethics rules, which generally prohibit employees, their spouses/domestic partners, and minor children from owning securities, such as stock, of banks or savings associations or their affiliates, such as bank holding companies and savings and loan holding companies. If you or your spouse/domestic partner or minor child own such securities and would not be willing or able to divest them if you accepted an offer of Bank employment, you should raise this issue with the recruiter for this posting, who can provide you contact information for our ethics official if necessary.
+ This position has additional screening requirements due to the information accessed while performing the job. These additional screenings would be initiated at the time of offer acceptance and can take approximately two months to be completed. The screening covers areas such as education/employment verification, criminal history, credit history, and reaches out to your references and people that know you well.
We are committed to equal employment opportunity regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, marital status, disability, gender, gender identity or expression, or veteran status.
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 w
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