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Compliance Risk Supervising Examiner

Federal Reserve Bank of Atlanta

Federal Reserve Bank of Atlanta

Legal
New York, NY, USA
Posted on Thursday, February 8, 2024

Company

Federal Reserve Bank of New YorkWorking 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

  • 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 through 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 three large domestic and all foreign-owned firms with U.S. Operations (FBOs) in the Second District, the latter of which includes a large number of Less Complex Foreign Banking Organizations (LCFBOs) in the Second District.

Your role as an LFBO Supervising Examiner - Compliance Risk (Non-Financial Risk):

You will work in a dynamic, team environment and play an important role in helping the Federal Reserve carry out its regulatory responsibilities. The Compliance Risk Supervising Examiner will serve as the corporate compliance risk expert responsible for examinations, continuous monitoring, and evaluation of the legal and compliance risk management and control frameworks of financial institutions in the LFBO portfolio.

Core responsibilities include:

  • Leading or participating in firm specific examinations that may include but are not limited to evaluating the firm’s corporate compliance function, compliance framework, and internal policies and procedures for managing compliance risks and adhering to U.S. laws and regulations.

  • Developing well supported assessments of firms’ compliance risk management practices, large scale remediation efforts and compliance with enforcement actions.

  • Presenting examination results to supervised institutions, Federal Reserve colleagues and other supervisory authorities.

  • Providing input to peers and management to drive departmental strategic goals and initiatives.

  • Driving continuous monitoring regimes 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).

  • Staying abreast of supervisory developments in the areas of legal and compliance risk management practices and emerging risks.

  • Actively providing guidance, mentoring, coaching, and training to other employees when leading examinations or projects and managing major/complex projects, including delegation of work and review of work products.

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

What we are looking for:

  • Extensive experience and advanced understanding of financial markets and banking systems and expectations for legal and compliance risk management, remediation of regulatory findings and enforcement actions.

  • Subject matter expertise in one or more corporate compliance areas, such as overall risk management and governance, risk assessments, monitoring, testing, training, audit and change management.

  • Experience in assessing trade surveillance and market conduct risk programs a plus.

  • Commissioned examiner and/or Examiner-in-Charge (EIC) experience preferred.

Salary Range: $192300 - $229300 / 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

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.

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, 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.

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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