Lfbo Institutional Supervision Supervising Examiner Compliance Risk

Federal Reserve Bank New York , NY 10007

Posted 2 months ago

Company

Federal Reserve Bank of New York

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 on-site and off-site examinations involving staff dedicated to the supervision of individual firms, and other professionals focused on analytical, policy and risk matters. Supervision is coordinated with other US agencies.

The Large and Foreign Banking Organization (LFBO) Function is responsible for monitoring and assessing the safety and soundness of two large domestic and all foreign-owned firms with U.S. operations (FBOs) in the Second District.

Your role as an LFBO Institutional Supervision Supervising Examiner Compliance Risk:

As a Supervising Examiner in Compliance Risk for the LFBO Portfolio, you will work in a dynamic, team environment and play an important role in helping the Federal Reserve carry out its regulatory responsibilities. As a Supervising Examiner covering Compliance Risk, you will serve as the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) expert responsible for performing examinations, continuous monitoring, and evaluation of the compliance risk management and control frameworks of Institutions in the LFBO portfolio with respect to AML controls, sanctions, and counter-terrorist financing (CTF). This entails leading and/or contributing to firm-specific reviews as well as analytical and policy work.

Core responsibilities include:

  • Leading or participating in firm specific examinations that may include firms' compliance risk management practices, including compliance with relevant AML laws and regulations, the requirements of the Office of Foreign Assets Control (OFAC), other CTF regulations and complex BSA/AML and OFAC enforcement actions.

  • Developing well-supported supervisory assessments and presenting examination results to supervised institutions, Federal Reserve colleagues, and other supervisory authorities.

  • Driving continuous monitoring activities including meetings with management, and review and analysis of internal risk reports, business plans, committee meeting minutes and other materials for the assigned institution(s).

  • Proactively collaborating with supervisory colleagues within the Federal Reserve System and other relevant agencies to arrive at a shared understanding of the firm's material issues, emerging risks, and remediation progress. Actively providing guidance, mentoring, coaching, and training to other employees when leading examinations or projects, including delegation of work and review of work products.

  • Staying abreast of supervisory developments in the areas of compliance risk management practices and BSA/AML, OFAC and other CTF regulations.

  • Advancing a high standard of operational excellence in executing the supervisory program and associated operational processes.

What we are looking for:

  • Considerable experience and advanced understanding of banking systems and relevant laws and regulations with a particular focus on BSA/AML and OFAC regulations, remediation of regulatory findings and transaction reviews.

  • Experience in assessing, validating, designing, or managing various risk management controls, automated monitoring systems, transaction surveillance, operations monitoring, reporting, and/or interdiction systems.

  • Excellent collaboration skills with an ability to build deep, productive working relationships in line with an inclusive culture that values learning and agility, curiosity, and sharing of diverse perspectives among the supervisory stakeholders. Significant thought leadership, decision making and execution skills including ability to undertake supervisory activities under limited guidance and with extensive autonomy and discretion, prioritize and multi-task under tight time constraints, quickly assimilate new information, produce sound analysis, and invite challenge to ensure all angles of an issue are explored as part of the decision-making process.

  • Excellent communication skills (both written and verbal), including ability to listen attentively to various viewpoints, capacity to synthesize and communicate varying information and perspectives succinctly and persuasively to stakeholders.

  • Limited travel may be required for examinations, training, and meetings.

Salary Range: $176000- $220000

Touchstone Behaviors set clear expectations for leading with impact at every stage of our careers and aspire to achieve in our continued growth and development.

Communicate Authentically: Empathetically engage one another with direct and transparent dialogue and listening. Actively discuss viewpoints with respect and compassion in a timely and candid manner, taking into account verbal and nonverbal cues. Ask questions, learn from each other, and share information widely to move the Bank's work forward.

Collaborate Inclusively: Inspire a diverse and inclusive environment that empowers others to contribute meaningfully. Intentionally bring a diverse set of people together to achieve positive business results.

Drive Progress: Grow and adapt to changing priorities in the Bank. Experiment with new concepts and take appropriate risk to drive innovation. Remain curious and action oriented, navigating through ambiguity and uncertainty to drive outcomes.

Develop Others: Equitably champion, mentor, and develop others to grow professionally. Demonstrate vulnerability and empathy to create a trusted environment.

Take Ownership: Establish an environment of action and excellence by holding self and others accountable to execute to the highest standard.

Cover Letters preferred highlighting how your background aligns to the role.

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

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, or military service.

The successful candidate must be fully vaccinated against COVID-19, and receive a booster shot within 30 days of being eligible to do so, unless the Bank grants an exemption based on a medical condition or sincerely held religious belief.

Please note that the 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 permanent residents may be eligible for the information access required for this position if they sign a declaration of intent to become a U.S. citizen and pursue a path to citizenship and meet other eligibility requirements.

In addition, all candidates must undergo an enhanced background check, comply with all applicable information handling rules, and will be tested for all controlled substances prohibited by federal law, to include marijuana.

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.

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

Yes

Job Category

Legal Family

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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Lfbo Institutional Supervision Supervising Examiner Compliance Risk

Federal Reserve Bank