Within the Federal Reserve Bank of Boston's Supervision, Regulation, and Credit (SRC) department, the Large Bank and Insurance (LBI) and Large Institution Supervision (LISCC) supervisory units focus on ensuring the safety and soundness of our largest financial and the fair and equitable treatment of consumers. Through period onsite evaluations and offsite continuous monitoring, this function plays a critical role in ensuring that financial institutions comply with laws and regulations, are in sound financial condition, and utilize sound practices to mitigate their risks.
We are seeking a Business Manager to join our team. This position is responsible for providing leadership and assistance in managing and administering the critical operational activities of the LBI and LISCC units. The Manager will serve as a subject matter expert that possess broad and deep supervisory and operational knowledge across LBI and LISCC portfolios. The Manager is actively involved in all aspects of managing both units', including strategic planning, resource management, budgeting, records, and operational/administrative support. In this capacity, the Manager will develop and maintain appropriate policies and procedures for the units in line with System expectations, and implement programs to ensure compliance with those policies and procedures. The Manager will be responsible for continuously improving the execution of LBI and LISCC operations and ensuring all findings from internal quality assurance reviews and external reviews are addressed in a comprehensive and timely manner. For LISCC, the Manager will actively collaborate with the Office of the Operating Committee (OC) and the LISCC programs to ensure effective alignment. In addition, the Manager will actively serve as LBI and/or LISCC's representative on various Federal Reserve System and Department committees and/or workgroups. The Manager is responsible for overseeing a small team and serves as a member of the department and units' leadership teams.
Lead and assist with the development of the LBI and Boston LISCC strategic goals and objectives. Develop and monitor key metrics, success criteria, and management reports to ensure progress against strategic plans. Ensure alignment with LISCC national goals while meeting local business needs and expectations. Lead and contribute to workforce planning (including the annual skills assessment and action planning efforts) and diversity initiatives related to hiring, developing, and retaining staff to ensure that LBI and LISCC are properly positioned to achieve business goals and objectives.
Lead the development, implementation, and continuous improvement of LBI and LISCC operating policies and procedures. Develop internal processes and training programs for staff that ensure knowledge of and ongoing compliance with supervisor and System requirements. Collaborate effectively with department and System training experts and facilitate local processes in support of the Large Financial Institution Examiner Commissioning Program (LFI ECP). Develop and implement quality control processes for the units' and assume primary responsibility for ensuring that all issues identified for internal and external party reviews are appropriately addressed. For LISCC, align local quality work with the Office of the OC expectations. Serve as LBI's representative on the department's Quality Council and Learning Exchange groups.
Provide leadership over critical administrative requirements of LBI and LISCC including those related to budgeting, information security, business continuity, records management, and space planning. Strengthen internal communication procedures including the quality and content of the LBI and LISCC local Intranet pages.
Collaborate with other stakeholders (internal and external, including representatives from the relevant management groups) and serve as the primary point of contact for LBI and LISCC operational activities. Facilitate local leadership and unit meetings as well as team building activities in line with budget expectations. Ensure that these meetings/events align with strategic/emerging risks in the LBI and LISCC units and/or department.
Lead and participate on various System committee initiatives. Maintain a broad knowledge of emerging issues and ongoing developments in supervision of large financial organizations as well as a strong understanding of current risk management practices in the financial services industry. Lead efforts to provide expert commentary on proposed revisions to supervisory guidance and policies/procedures for LBI and LISCC.
Demonstrate good judgment, well-reasoned decision-making and a highly refined level of business acumen in situations that may involve complex or sensitive issues. In all internal and external communications, demonstrate strong interpersonal skills, including political savvy, understanding the motivation and needs of others, appropriate negotiation, strategic agility and conflict resolution.
Conduct performance management and salary administration activities for assigned staff. Coach and develop staff while fostering a culture of diversity and inclusion.
Participate in System, Department, and Unit workgroups and projects as necessary.
Knowledge and Experience:
Knowledge and experience normally acquired through, or equivalent to, the completion of a Master's degree and a minimum of 15 years of work experience, including at least 3 years of supervisory/managerial experience. Overnight travel of up to 10% may be required. Knowledge of large institution supervisory program required.
The following skills are required:
Knowledge of LBI and LISCC's core business activities, supervised institutions, and emerging issues. The ability to apply this knowledge in highly complex situations.
Effectiveness in team and project management, including the ability to build effective teams, manage conflict, and appropriately delegate responsibilities.
Strong leadership and command skills; managerial courage. Independently manages areas of responsibility and executes associated vision/purpose for these areas.
Highly developed critical thinking, including the ability to deal with ambiguity, strong analytical, problem-solving, and decision-making capabilities.
Ability to set priorities and adapt to changing circumstances; demonstrating commitment and flexibility to ensure critical deadlines are met. Effective at balancing multiple, competing priorities.
Highly developed oral and written communication skills, including the ability to develop tailored, concise, and effective oral and written correspondence for both internal and external audiences.
Sound negotiation skills. The ability to influence change in internal and/or external stakeholders.
Interpersonal skills and sound organizational awareness. Builds and maintains effective relationships with stakeholders across the department, Bank, and System.
Initiative and innovation toward improving efficiency, enhancing effectiveness, and achieving high-quality results. Actively supports and promotes a continuous improvement environment.
A strong track record in positions of increasing responsibility (including a managerial capacity).
The Federal Reserve Bank of Boston is committed to a diverse and inclusive workplace and to provide equal employment opportunities to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, or military service.
This position requires access to confidential supervisory information, access to which is limited to "Protected Individuals" as defined by regulation of the Board of Governors of the Federal Reserve System. Protected Individuals include, but are not limited to, U.S. citizens, U.S. nationals, and lawful permanent resident aliens (also known as "green card holders") who are eligible for and seeking United States citizenship within the requisite timeframes.
All employees assigned to this position will be subject to FBI fingerprint/ criminal background and Patriot Act/ Office of Foreign Assets Control watch list checks at least once every five years.
Federal Reserve Bank