Executive/Senior Vice President - Head of Supervision & Regulation

Company
Federal Reserve Bank of Boston
Executive/Senior Vice President, Head of Supervision and Regulation
Executive/Senior Vice President, Head of Supervision and Regulation
POSITION SUMMARY
The Federal Reserve Bank of Boston is seeking a proven leader as our next Executive/Senior Vice President (E/SVP) of Supervision and Regulation, bringing a strategic, collaborative mindset as well as exemplary management and communication skills to the role. This department is responsible for the supervision and regulation of large, regional, and community banking organizations. The head of Supervision and Regulation is expected to build strong working relationships with the leadership teams at First District banking institutions, as well as his or her Federal Reserve System and Board of Governors counterparts.
The Supervision and Regulation department serves the public by:

• Promoting public confidence in financial services firms through high-value contributions to System supervision and regulatory efforts, with an emphasis on First District banking organizations.
• Protecting consumers by ensuring financial institutions comply with laws and regulations, while encouraging those institutions to responsibly meet the needs of their communities.
• Contributing to financial research and policy by providing expert analysis of current and emerging risks faced by domestic and global financial services firms.

The head of Supervision and Regulation oversees approximately 265 professional team members, including officers, managers, examiners, economists, specialists, and analysts. He or she reports to the president and CEO of the Bank. As a member of the Bank's Executive Committee, he or she contributes to setting the strategic direction and policies of the Bank and serves as a role model for employees and the communities that the Bank serves.
The head of Supervision and Regulation is a member of the System's Supervision Committee, which oversees the execution of the System's supervisory responsibilities, and additionally a member of the System's Large Institution Supervision Coordinating Committee, which coordinates supervision of the nation's most complex financial institutions. The individual delivers trusted leadership, locally and nationally, in Bank- or System-wide committees and groups and in working effectively with the Board of Governors and their staff.
In addition, the successful candidate must have a strong commitment to public service and establish and maintain strong relationships with the vice chair of supervision and other important Board colleagues.
ABOUT THE FEDERAL RESERVE BANK OF BOSTON
The Federal Reserve System was founded by Congress in 1913 and serves as the central bank of the United States. Its fundamental mission is to foster the stability, integrity, and efficiency of the nation's monetary, financial, and payment systems, to promote optimal economic performance.
The Federal Reserve Bank of Boston is one of 12 Federal Reserve Banks that, together with the Board of Governors in Washington D.C., make up the System. We contribute to communities, the region, and the nation by conducting high-quality economic research, participating in monetary policymaking, supervising certain financial institutions, providing financial and payments services that underpin the financial system, and playing a leadership role in payments innovation.
The Boston Reserve Bank holds several key System roles. It leads the Financial Support Office, which manages the System budget and related technology programs. The Bank also played key roles in the Fed's crisis responses in 2008 and the global pandemic downturn of 2020. The Bank's most critical responsibilities include:

• Conducting leading-edge research on monetary policy, financial markets and stability, and important regional and national economic concerns.
• Providing financial stability expertise by drawing on a deep knowledge of money markets and their key institutions.
• Conducting dynamic, comprehensive bank supervision through on-site examination and by monitoring banking conditions, practices, and emerging issues.
• Providing efficient, high-quality payments services for depository institutions.
• Developing and operating the FedNowSM Service ("FedNow"), a transformative real-time (24-7-365) payments settlement system.
• Collaborating with business, community, and government leaders to address key local and regional economic issues, often with a focus on economic vibrancy and opportunity.

The Bank's approximately 1,300 employees are based mostly in the First District, and they take great pride in working for an organization whose mission is to promote sound economic growth and well-being regionally and nationally. Our strong organizational culture is built on our core values of community, innovation, integrity & trust, and leadership & excellence. (To learn more, please click here.)
We build institutional expertise and flexibility by identifying, engaging, and developing a highly trained workforce. Our work environment respects and values our employees' individual strengths -- including their different backgrounds, personalities, and thought processes - and their teamwork. The Bank is a visible business leader in Greater Boston and throughout the First District, which includes the six New England states (except Fairfield County, Connecticut). We serve as an important convener and nonpartisan researcher in areas of economic and workforce development. Our president and Bank leaders are engaged with numerous organizations that support the First District community, including professional associations and boards.
We offer a strong and competitive benefits package which will be detailed to finalists considered for the role.
Key Responsibilities:
The scope of the role includes, but is not limited to:

• Providing dynamic, visionary leadership for the organization and its people to meet evolving circumstances.
• Collaborating with other members of the Bank's senior management team to craft Bank strategies and policies and to shape culture.
• Communicating actively, transparently, and effectively with a broad range of stakeholders.
• Fostering strong working relationships with District supervised financial institutions that support effective supervisory and outreach efforts.
• Coordinating with Board and System colleagues to establish and execute on the System's supervision strategy.
• Leading multi-year business planning and ensuring the accomplishment of functional goals and budgeted objectives that align with Bank and System priorities.
• Establishing and administering business policies, procedures, and practices. Providing policy and procedural direction to functional areas to ensure compliance with System and Bank policies.
• Championing departmental talent management, including performance management, salary administration, and succession planning.
• Creating an environment that rewards and recognizes innovative ideas and appropriate risk-taking.
• Continually building leadership capacity and promoting employee development.
• Acting as a role model by fostering a culture of collaboration, innovation, and trust that ensures our people work in an inclusive, respectful, and impactful workplace.
• Providing executive guidance and sponsorship for key change projects and programs.
• Championing change initiatives at the executive level, ensuring alignment with overall business goals.

Requirements
15-20+ years of deep business or banking supervisory leadership experience, including 15+ years of progressively expansive people and leadership responsibilities. Bachelor's degree, preferably in business or economics or a related field of study, or equivalent work experience. Advanced degree preferred.
LEADERSHIP CAPABILITIES

• Leading with a strategic, action-oriented mindset that is focused on performance, accountability, and outcomes.
• Driving results that benefit the System and local interests.
• Serving as an active talent champion, coach, mentor, role model, and connector.
• Showing intellectual curiosity and agility and is willing to experiment to drive innovation.
• Building trust and serving as a helpful and resourceful colleague.
• Embracing and demonstrating a growth mindset, incorporating new principles and practices as the future of work evolves.
• Curating vision and purpose by creating and communicating a compelling strategy that inspires and motivates others.
• Managing ambiguity by comfortably dealing with the uncertainty of change.
• Demonstrating organizational savvy by seamlessly maneuvering through complex policies, processes, and people dynamics.
• Dealing with complex situations through high-quality decision-making and problem-solving.
• Identifying future opportunities and creating new value or strategies.
• Holding self and others accountable to meet commitments.

OTHER REQUIREMENTS

• Eligibility to work in the United States and the ability to pass an enhanced background screening which requires that the candidate be a U.S. citizen.
• Residency in the First District of the Federal Reserve System, within commuting distance of our in-person organization.
• Willingness to travel (up to 25% of working days), both domestically and internationally.

The above statements are intended to describe the general nature and level of work required of this position. They are not intended to be an exhaustive list of all duties, responsibilities, or skills associated with this position or the personnel so classified. While this job description is intended to be an accurate reflection of this position, management reserves the right to revise this or any job description at its discretion at any time.
We will ensure that individuals with disabilities are provided with reasonable accommodation to participate in the job application or interview process, perform essential job functions, and receive other benefits and privileges of employment.
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.
ETHICS CONSIDERATIONS and PROHIBITED ACTIVITIES
It is indispensable for the Bank and the Federal Reserve System to function properly and maintain high public confidence. It is essential for every employee to perform their duties with honesty, integrity, and impartiality, without improper preferential treatment of any person or organization. Bank employees are subject to federal criminal statutes that prohibit financial conflicts of interest (e.g., an employee cannot work on any matter in which they or certain employee-affiliated parties have a financial interest). In addition, the Bank's code of conduct generally prohibits activities such as:

• Outside activities that are inconsistent with the employee's duties and responsibilities, e.g., holding a position as a director of a publicly traded company
• Certain partisan political activities, such as fundraising or holding partisan elected office.

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 Supervision and Regulation must ensure there are no conflicts of interest related to their previous employment and current financial interests. These employees may be subject to borrowing and deposit restrictions and may need to recuse themselves from certain supervisory work. Please review the Bank's Code of Conduct and Ethics to ensure compliance with the Code of Conduct (specifically section 5), conflict of interest rules, and personal investment restrictions.
Due to the nature of access to sensitive information all final offers are subject to the clearance of an enhanced background check. All employees assigned to this position will be subject to FBI fingerprint/ criminal background and Patriot Act/ Office of Foreign Assets Control watch lists at least once every five years.
Full Time / Part Time
Full time
Regular / Temporary
Regular
Job Exempt (Yes / No)
Yes
Job Category
Supervision Family Group
Work Shift
First (United States of America)
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.
Always verify and apply to jobs on Federal Reserve System Careers (https://rb.wd5.myworkdayjobs.com/FRS) or through verified Federal Reserve Bank social media channels.
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