Job description
Company
Federal Reserve Bank of Richmond
At the Richmond Fed, we’re driven by our mission to strengthen the economy and our communities. We take great pride in what we do and its impact on everyday people every day.
When you join our team, you’ll become part of a culture that welcomes differences, cares about our communities, and empowers each other to lead from where we are to make things better.
Bring your passion and we’ll provide challenging and purposeful careers in a variety of fields, opportunities to grow and a wide range of benefits and perks that support your health and wealth. It’s all part of what makes #MyRichmondFed a great place to work!
About the Opportunity
The Federal Reserve Bank of Richmond’s Supervision, Regulation and Credit Department has an exciting opportunity to join the Community and Regional Safety & Soundness (CRSS) supervision team as a CRSS examiner. CRSS examiners evaluate the financial condition and compliance with laws and regulations of state member banks and bank holding companies with up to $10 billion in assets. To effectively fulfill this responsibility, examiners leverage strong analytical skills. Specifically, analytical analysis includes evaluating the adequacy of capital and liquidity positions, earnings performance, asset quality, and exposure to interest rate risk for banks and bank holding companies in our portfolio. Examiners may also evaluate operational risk and risk management practices, accounting/audit programs, compliance with BSA/AML requirements, information technology practices, and bank holding company strength. Additionally, intermediate and senior examiners are responsible for leading reviews of key risk areas, training, and leading teams in completing examinations of financial institutions, which makes possessing solid leadership and communication skills imperative. You will report to a Senior Manager.
What You Will Do:
- Plan, execute, and lead full-scope and targeted examinations of financial institutions
- Prepare supervisory products such as risk assessments, supervisory plans, and report of examinations; and participates in review of similar products with senior staff
- Satisfactorily complete assignments within established timeframes, largely independently
- Communicate findings and examination ratings to supervised institutions and CRSS management
- Influence management actions through effective negotiation and conflict resolution to achieve supervisory goals
- Contribute to policy and practice development by researching, identifying, and surfacing risk issues and emerging trends, including horizontal assessment of risk management practices, applies and transfers knowledge
- Provide meaningful and timely feedback to staff regarding performance on supervisory events
- At the senior examiner level:
- Contribute to and periodically leads System and Department workgroups, proactively initiate change by seeking opportunities to participate in and lead priority projects
- Serve as a change agent, identifying, developing, implementing improvements to operational effectiveness
- Develop and maintain relationships with Federal Reserve Board of Governors, State banking departments, other regulators, and peers System-wide
- Perform as a thought leader, providing expertise to appropriate internal and external stakeholders, participates in outreach activities
- Ability to travel up to 20% based on geographical location, with flexibility for work/life balance.
Qualifications:
- Bachelor’s degree, with preferred emphasis in Finance, Economics, Business, Accounting or related field
- Minimum 3 years bank regulatory or equivalent industry experience is preferred
- Commissioned examiner credentials preferred or willingness to complete commissioned required
Discover the Reason Why So Many People Love It Here!
When you join the Richmond Fed, not only will you find a challenging and purposeful career, you’ll also have access to a wide range of benefits and perks that support your health and wealth, including:
- Great medical benefits
- Pension and 401(k) with employer match
- Paid time off
- Tuition reimbursement
- Employee resource networks
- Paid volunteer leave
- Flexible work options
- Onsite amenities that make working here fun
Other Requirements and Considerations:
- Candidates should review the Bank’s Employee Code of Conduct to ensure compliance with conflict of interest rules and personal investment restrictions. The Code is available on the About Us, Careers webpage at
www.richmondfed.org.
- Under conflict of interest guidelines administered by the Board of Governors of the Federal Reserve System, examining personnel may not participate on an examination of a financial institution or affiliate if the examiner was employed by the financial institution or affiliate within the past 12 months.
- Please review the FRB Employee Code of Conduct to ensure there are no major issues related to your previous employment and current financial interests. (The Code is available on the About Us, Careers webpage at
www.richmondfed.org(relevant sections are 5.3 and Appendix B, Parts I, II and III).
- FRB ethics rules generally prohibit employees and their immediate families from owning investments in banks, savings associations or their holding companies (Section 5.3). Additionally, employees engaged in Supervision and Regulation may be subject to borrowing and deposit restrictions. These employees may need to recuse themselves from certain supervisory work based on:
- Their borrowing relationships (Appendix B Parts I.1, II.1 and II.2)
- If a financial institution employs a member of the employee’s immediate family (i.e. spouse, child, parent, or sibling) (Appendix B Part I.3 and Part II.3)
- If the individual was employed by the financial institution or affiliate within the past 12 months (Appendix B Part I.3 and II.3).
- In certain cases, the recusal may be so extensive it could materially reduce the effectiveness of the prospective employee.
- Selected candidate is subject to special background check procedures.
- Title and salary offered will be based on the job responsibilities and the individual’s knowledge, skills, and experience as defined in the job qualifications/experience. For a Charlotte, NC or Richmond, VA based hire:
- The Examiner – Intermediate hiring range is $80,000 - $100,000, annually.
- The Examiner – Senior hiring range is $114,000 - $142,100, annually.
- Applications are reviewed on a rolling basis.
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.
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