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Systemic Risk Payment and Settlement System Specialist

Federal Reserve Bank of Atlanta

Federal Reserve Bank of Atlanta

New York, NY, USA
Posted on Saturday, June 29, 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 supervises financial institutions 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.

These efforts are achieved through combination of supervisory activities including on-site and off-site examination 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 and international supervisors.

The Large Institution Supervisory Coordinating Committee (LISCC) Supervision Program is the Federal Reserve’s national supervisory program for the largest and most systemically important financial institutions. The LISCC Dedicated Supervisory Team (DST) executes firm-specific examinations and monitoring in coordination with the national programs, maintain a broad-based understanding of the safety and soundness of their assigned firm, and recommend supervisory plans and ratings. Each DST partners with national programs (i.e., Capital, Governance and Controls, Liquidity, Resolution and Recovery Planning) to plan and execute on monitoring and assessments of their supervised firm.

The DSTs serve as the primary contacts for supervised firms and communicators of supervisory messages, including supervisory ratings and annual assessments. The DSTs work closely with their counterparts at other supervisory agencies, including the Federal Deposit Insurance Corporation (FDIC), Consumer Financial Protection Bureau (CFPB), the Securities and Exchange Commission (SEC), and other state and international supervisors. The DSTs are overseen by DST Co-chairs, and the Reserve Bank senior officers overseeing the DSTs in each FR district where a LISCC firm is headquartered.

Your role as Institutional Supervision Supervising Examiner:

  • Lead or participate in the supervision of settlement and clearing activities of a U.S. GSIB/ LISCC firm through continuous monitoring and examinations of lines of business including but not limited to custody, government securities clearance, global payments and settlement, corporate trust, asset, wealth and investment management, and other governance and control corporate functions, liquidity, and capital pillars.

  • Contribute to/synthesize findings to produce reports and communicate findings to senior leaders to inform annual assessment rating(s) for various legal entities.

  • Collaborate with LISCC Programs’ colleagues to amalgamate conclusions of monitoring and examination work.

  • Contribute to the DST by sharing updates on current assignments during team meetings.

  • Lead or participate in firm specific and horizontal examinations; develops well supported supervisory assessments.

  • Present examination results to supervised institutions, Federal Reserve management, staff, and other supervisory authorities.

  • Drive continuous monitoring activities including meetings with management, review and analysis of internal risk reports, performance reports, budget projections, business plans, and committee meeting minutes, and other materials for assigned institutions.

  • Assist in the development and execution of a multi-year plans for firm-specific supervisory activities.

  • Contribute to supervisory assessments/ratings of the firm and communication to the firm in partnership with the LISCC National Program(s).

  • Contribute to cross-firm perspectives in conjunction with peers, national risk teams and in collaboration with the Monitoring and Analysis Program (MAP).

  • Evaluate product and market developments and their impacts on supervised institution.

  • Build communication channels with the firms' business lines and risk functions to facilitate timely flow of information.

  • Build relationships with other supervisory teams, risk specialists, senior Reserve Bank and Board staff, and other U.S. and international bank supervisors.

What we are looking for:

  • Ability to take on a leading role on examinations at large complex financial institutions and/or an ability and willingness to learn about complex regulations, including supervisory expectations and findings.

  • Supervisory, audit or industry experience with financial and non-financial risks, such as operational risk, model risk, compliance risk, internal audit, and IT/Cyber.

  • Supervisory or industry experience in payments, settlement and clearance, investment and asset management activities including experience of financial and non-financial risk management involving institutional clients.

  • Working knowledge of relevant supervisory standards pertaining to financial risks and nonfinancial risk management practices at large financial institutions.

  • Excellent project management, communication, interpersonal, and collaboration skills

  • Strong communication skills (both written and verbal), including ability to synthesize and communicate information and perspectives succinctly, authentically, and persuasively to stakeholders.

  • Strong interpersonal and collaboration skills to support an inclusive environment, build productive and influential working relationships and coach more junior examiners.

Salary Range: $155400 - $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

  • 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.

Full Time / Part Time

Full time

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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