Federal Reserve Bank of Chicago

Company

Federal Reserve Bank of Chicago

Job Summary

The Federal Reserve Bank of Chicago is one of 12 regional reserve banks in the United States, along with the Federal Reserve Board of Governors in Washington, D.C., which make up the nation's central bank. The Bank is committed to adhering to a culture of excellence, respect, integrity, and responsibility.

As part of its core mission, the Supervision & Regulation (S&R) Department of the Federal Reserve Bank of Chicago is responsible for supervising and regulating state-chartered banks that are members of the Federal Reserve System, bank holding companies, and financial holding companies. Organizations within the boundaries of the Seventh District are located within Illinois, Indiana, Michigan, Wisconsin, and Iowa. Our duty is to foster the stability, integrity, and efficiency of the nation's monetary, financial, and payment systems to promote optimal economic performance.

The Large Financial Banking Organizations (LFBO) Division within the Supervision and Regulation (S&R) Department of The Federal Reserve Bank of Chicago is seeking candidates for a position focusing on the assessment of corporate compliance and legal practices within a large and complex financial institution.

The Lead Large Bank Examiner will be responsible for determining the effectiveness of an LFBO institution’s corporate compliance and legal risk management practice. The individual will lead supervisory assessments and examinations over these area as well as a spectrum of related non-financial risks, including fiduciary and privacy risks. In addition, the individual would help support the onboarding and development of large bank examiners in the team.

Additionally, as a member of a large bank dedicated supervisory team, the individual will participate in assessing the institution's risk management practices across other risk topics. Resource workload permitting, the individual may also be engaged in other team, department, and system initiatives.

Your Responsibilities:

• Consult and serve as an initial contact and subject matter expert for the supervised areas and maintain familiarity with relevant supervisory and industry guidance on compliance.
• Review the institution's business model and understand the relevant supervisory expectations and requirements to which the institution is subject and interpret how those requirements impact the institution's related processes and risk management practices.
• Prepare and deliver clear, well-supported, and persuasive findings in formal written and verbal presentations on supervisory conclusions and relevant issues to financial institution and senior Reserve Bank management.
• Perform ongoing supervision by leading meetings with institution management and reviewing institution-submitted materials to ensure objective and timely assessment of compliance and legal risk.
• Maintain an understanding of key risk management perspectives from other regulatory agencies, proactively implement strategies to collect peer agency views on a timely basis, act as a key stakeholder within peer agency reviews, and holistically integrate other regulatory perspectives to help inform the team's supervisory assessment.
• Build and maintain strategic working relationships and networks with both internal and external stakeholders, such as other Reserve Banks, the Board of Governors, and other domestic and global regulatory agencies. This also includes developing relationships, while maintaining independence, with institution management to further supervisory efforts.
• Mentor and coach new and less experienced team members and provide constructive feedback to staff and management to continue to build upon the team's capabilities.
• Effectively manage multiple projects simultaneously.
• Provide support on complex issues and exam administration for the supervisory team’s leadership.
• Independently review and assess information to identify and develop a supervisory approach to fill knowledge gaps, share information with other dedicated team members to enhance their supervision, and challenge the status quo in the global oversight of compliance risk management.
• Lead other supervisory activities across the team or department.
• Develop and maintain an awareness of potential changes to key rules, laws and regulations, and supervisory policies.

Your Background:

• Bachelor’s degree or equivalent experience.
• Specific concentration and coursework in disciplines such as economics, statistics, accounting, finance, or business are preferred.
• Expertise in compliance and or legal risk analysis in a banking environment is preferred.
• Experience in Large Bank Supervision is preferred.
• Ten plus years of direct work-related experience
• Demonstrate independent thinking, critical analysis, and decision-making abilities.
• Possess strong written and oral communication skills.
• Possess an understanding of financial institution risks, risk management & governance, including a working knowledge of MIS and metrics.
• Possess the ability to provide guidance and constructive feedback to less experienced staff.
• Possess strong teamwork skills and the ability to build and work collaboratively within and across teams, including with individuals from external organizations.
• Demonstrates the ability to lead and influence a team with limited oversight and to resolve complex to highly complex issues in a productive and timely manner.
• Demonstrate the ability to manage time and projects effectively by adjusting quickly to new and different priorities.
• Possess a general business acumen.
• Interest in compliance for fiduciary as well asset management activities.
• A Federal Reserve System Examiner Commission or is progressing towards such is preferred.

What we offer:

• Comprehensive benefits package, including medical, dental, vision, prescription drug coverage, 401k savings plan, retirement plan, paid time off, and transit benefit.
• A continuous learning environment with opportunities to gain new skills and grow your career.
• A wide range of Diversity, Equity, and Inclusion community groups as well as active employee resource groups and mentorship programs.
• Onsite gym and subsidized cafeteria.

Location:

This is a hybrid role. Your presence will be expected at one of the 7th District offices—Chicago, Des Moines or Detroit.

Other Requirements:

• Ability and willingness to travel up to 10%.
• This 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 not U.S. citizens or U.S. permanent residents may be eligible for the information access required for this position and sponsorship for a work visa, and subsequently for permanent residence, if they sign a declaration of intent to become a U.S. citizen and meet other eligibility requirements. In addition, all candidates must undergo applicable background checks and comply with all applicable information handling rules, and all non-U.S. citizens must sign a declaration of intent to become a U.S. Citizen and pursue a path to citizenship.
• As a condition of employment, Federal Reserve Bank of Chicago employees must comply with the Bank's ethics rules, which 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. If you or your spouse/domestic partner or minor child own such securities and would not be willing or able to divest them if you accepted an offer of Bank employment, you should raise this issue with the recruiter for this posting, who can provide you contact information for our ethics official if necessary.
• This position has additional screening requirements due to the information accessed while performing the job. These additional screenings would be initiated at the time of offer acceptance and can take approximately two months to be completed. The screening covers areas such as education/employment verification, criminal history, credit history, and reaches out to your references and people that know you well.

We are committed to equal employment opportunity regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, marital status, disability, gender, gender identity or expression, or veteran status.

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