Job Information
Federal Reserve System Sr. Risk Specialist – Governance & Controls – Large Institutions in San Francisco, California
Company
Federal Reserve Bank of San Francisco
We are the San Francisco Fed, public servants with a congressionally mandated mission to advance the nation’s monetary, financial, and payment systems to build a stronger economy for all Americans. We are a community-engaged bank, and we are committed to understanding and serving the vibrant, diverse people of the Twelfth District (District). That means we seek and appreciate new perspectives. We respect people for what they do and for who they are. We build opportunities to learn and grow. When you join the SF Fed, you become part of a team united in its purpose to promote an economy that works for everyone. We empower our people to balance their life and work responsibilities. That’s why we offer a flexible hybrid work model that allows you to collaborate with office colleagues on some days, and work from home on others.
Are you passionate about protecting the U.S. financial system? Do you have a strong understanding of governance and control practices and principles? Would you like to help lead influence and implement the future of bank supervision? If so, then this opportunity is for you.
We need you, an experienced Senior Risk Specialist to join the Governance and Controls (G&C) Team within the Risk, Policy, and Analysis Group of the San Francisco Fed’s Supervision and Credit (S+C) Department. In this role, you will be responsible for assessing nonfinancial risks and related governance and risk management processes at large financial institutions and service providers, as well as at regional and community institutions as necessary. The ideal candidate possesses experience in leading supervisory assessments over a range of nonfinancial risk areas including board effectiveness, independent risk management, information technology, third party risk management, compliance, management of core business lines, and internal audit.
You will serve as a subject matter expert and be responsible for assessing financial institutions’ risk management programs to ensure they are operating in a safe and sound manner and complying with applicable laws, regulations, and policy statements. You will have superb communication skills with the ability to explain complex nonfinancial risk issues and concepts to diverse audiences. Your collaboration skills and ability to develop strong relationships with senior management, Federal Reserve System (System) staff and other regulators and partners will be a critical part of this role.
Essential Responsibilities:
Lead or participate in the supervisory assessments of board effectiveness, independent risk management, information technology, third party risk management, compliance, management of core business lines, and internal audit.
Partner with S+C colleagues to develop institution-specific risk assessments and supervisory strategies, including involvement in scoping and vetting processes, by providing subject matter expertise to influence and guide supervisory decision making.
Demonstrate agility and leadership through ability to cover other risk topics not specifically captured in areas of coverage, based on team need.
Actively engage within District and System working groups to influence the development supervision practices and programs. Liaise with the Board of Governors and System risk experts regularly on emerging risks, risk management practices and changes in supervision policies, procedures, tools or guidance.
Interpret regulatory guidance and communicate clear supervisory messages and required actions for matters that require attention, as applicable, to the financial institution’s senior management.
Build and maintain effective working relationships within the team, with peers, within the San Francisco Fed, the Federal Reserve System, with other regulatory agencies to develop a comprehensive understanding of the financial institution’s businesses and risks.
Ensure high quality and timely completion of required supervisory work products and perform quality control to ensure compliance with local policies/procedures and System requirements.
Evaluate, interpret, and communicate governmental, industry, and other macro developments associated with your risk discipline(s).
Requirements:
Bachelor’s degree in business administration, finance, economics, technology or other related field is required; advanced degree and/or professional certifications (FRM, CIA, CISA) is preferred.
Eight or more years of direct or comparable banking, financial industry, or banking supervision experience in relevant activities.
Working knowledge of relevant supervisory standards of board effectiveness, risk management and internal audit at large financial institutions, (e.g., SR 21-3, SR 95-51 & SR 13-1).
Ability to listen and communicate clearly, logically, and persuasively at multiple levels in the organization and effectively articulate themes and conclusions both verbally and in writing.
Strong problem solving and analytical skills that support and enable sound decision-making, and the ability to synthesize large amounts of complex, disparate information to formulate well-supported conclusions.
Ability to thrive as a member of a team and to build collaborative working relationships a variety of key internal and external partners.
Experience evaluating a variety of non-financial risks facing complex financial institutions, and the ability to identify prudent practices for managing those risks.
Capacity to pursue multiple initiatives at the same time and deliver successful outcomes.
Ability to travel at least 15 percent (additional travel up to 25 percent if located in Los Angeles, Salt Lake City, Phoenix, Portland, or Seattle).
A consistent track record of performance in technical and behavioral competencies. Primary behavioral competencies to be evaluated include: Leadership, Emotional Intelligence, Critical Thinking, Accountability, Collaboration, Development, Influence, and Innovation.
This position requires access to confidential supervisory information, which is limited to “Protected Individuals.” Protected Individuals include, but are not limited to, U.S. citizens and U.S. nationals, U.S. permanent residents who are not yet eligible to apply for naturalization, and U.S. permanent residents who have applied for naturalization within six months of being eligible to do so or who will sign a declaration of intent to apply for naturalization before they begin employment
Preferred:
An examiner commission from a federal or a state banking supervisory agency or the relevant experience and training required for entry into the Interim Examiner Commissioning Program for Large Financial Institution Supervision.
Professional designations relevant to your area(s) of subject matter expertise.
Experience performing examination work at large and regional banking organizations.
#LI-Hybrid
Base Salary Range: Min: $155,700 Mid: $205,600 Max: $255,300 (Location: San Francisco)
Final salary and offer will be determined by the applicant’s background, experience, skills, internal equity, and alignment with geographic and other market data.
At the Federal Reserve Bank of San Francisco, we offer a wonderful benefits package including Medical, Dental, Vision, Pretax Flexible Spending Account, Paid Family Leave Care, Backup Child Care Program, Pretax Day Care Flexible Spending Account, Vacation Days, Sick Days, Paid Holidays, Pet Insurance, Matching 401(k), and an unheard-of Retirement / Pension.
We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment.
At the SF Fed, we believe in the diversity of our people, ideas, and experiences and are committed to building an inclusive culture that is representative of the communities we serve. The SF Fed is an Equal Opportunity Employer.
The Bank's ethics rules 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. Employees in the S+C group also must ensure there are no conflicts of interest related to their previous employment and current financial interests. S+C employees may be subject to borrowing and deposit restrictions and may need to recuse themselves from certain supervisory work. Please review Section 5.3 and Appendix B of the Bank’s Code of Conduct to ensure compliance with the Code of Conduct (https://www.frbsf.org/wp-content/uploads/Code-of-Conduct_December-23-2022.pdf) conflict of interest rules and personal investment restrictions.
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 where employees are valued for their differences.
Privacy Notice (https://www.kansascityfed.org/documents/7797/Workday_Privacy_Notice.pdf)
OUR BANK has one of the most recognizable brands around the world. The Federal Reserve is the central bank of the United States—one of the world's most influential, trusted and prestigious financial organizations. The Federal Reserve is charged with the important mission of promoting a strong economy and a stable financial system and fulfills this responsibility by formulating national monetary policy, supervising and regulating banks and bank holding companies, and providing financial services for banks and the U.S. government.
OUR PEOPLE are diverse in background and ideas, which allows for ongoing creativity and innovation. Ultimately, they are the ones who push our high-performance, exchange-driven culture forward.
Why Our People Choose Us:
Our reputation precedes us
There will always be room for personal growth
Our people are first
You’ll find the right balance
Your responsibilities will be meaningful
We hope that you will be our future colleague.