Sr. Risk Specialist, Compliance - Large Institutions

CompanyFederal Reserve Bank of San Francisco

We are the Federal Reserve Bank of San Francisco—public servants with a 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 are committed to understanding and serving the vibrant, expansive communities of the Twelfth 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 diverse team united in its purpose to promote an economy that works for everyone.

Supervision + Credit (S+C) is responsible for the supervision and regulation of state member banks (SMBs), bank holding companies, savings and loan holding companies, financial holding companies, data service providers, trust companies, and foreign banking organizations that operate in the Twelfth District. Supervised institutions are in all states of the district and range in size and complexity from small community organizations to some of the largest banking organizations in the country.

One of the supervision programs within S+C is the Large Institution Supervision Coordinating Committee (LISCC) program. The LISCC Program function is responsible for driving the LISCC supervisory program (covering Capital, Governance and Controls, Liquidity, Recovery and Resolution Planning, and Monitoring and Analysis) for domestic global systemically important banks (G-SIBs).

The Risk Specialist Team (RST) within S+C’s Risk, Policy and Analysis area includes individuals from the SF Fed who are members of the LISCC program. Right now, the RST has a fantastic opportunity for a Sr. Risk Specialist to join its LISCC compliance risk horizontal team! The LISCC compliance risk horizontal team evaluates the compliance risks presented by the relevant supervised firm's business models and the adequacy of the compliance control framework for addressing such risks.

Essential Responsibilities:

• Lead large scope supervisory activities including monitoring, exams, and special projects.
• Serve as an Examiner-in-Charge for large-scale reviews of complex institutions to evaluate the quality and effectiveness of firm’s legal and compliance risk management practices and controls in relation to the inherent risks of the institutions, supervisory expectations, and industry sound practices.
• Lead or participate in the development and execution of supervisory strategies for the oversight of significant and emerging compliance risks.
• Contribute to preparation of supervisory plans for relevant risk-based supervision.
• Lead ongoing monitoring reviews and assessments of the remediation of supervisory issues and compliance failures underlying enforcement actions.
• Synthesize and present complex ideas clearly and concisely to management, including in supporting conclusions and communicating results with partners through supervisory products and key meetings.
• Communicate with supervised large financial institutions, regulatory agencies and FRS executive management.
• Maintain a comprehensive understanding of laws and regulations relevant to corporate compliance expectations of the largest financial institutions.
• Coach and review the work of other professionals.

Position Requirements:

• Bachelor’s degree in business administration, finance, economics, or other related field is required; advanced degree and/or professional certifications (ACAMS) is preferred.
• Typically requires seven or more years of direct supervisory or comparable experience in financial institution legal and/or compliance departments; compliance consultancy in the financial services industry; auditor; or bank examiner.
• An active examiner commission from a federal or state banking supervisory agency or the relevant experience and training required for entry into Interim Examiner Commissioning Program for Large Financial Institution Supervision is preferred.
• Demonstrated understanding of relevant laws and regulations and strong knowledge of compliance risk management programs at large banking organizations with complex compliance profiles, including reporting lines, compliance monitoring and testing, risk assessments and responsibilities of the board of directors and senior management.
• Strong understanding of compliance risks and controls specific to particular lines of business, such as investment banking, sales and trading, asset management, or consumer financial services is a plus.
• Experience in assessing, validating, designing, or managing various compliance risk management controls, including monitoring/surveillance systems such as trade surveillance and market conduct risk programs, is a plus.
• Strong collaboration skills with an ability to build deep, productive working relationships in line with an inclusive culture that values learning and agility, curiosity, and sharing of diverse perspectives among the supervisory partners.
• Strong communication skills (both written and verbal), including ability to synthesize and communicate a wide range of information and perspectives succinctly and persuasively to partners.
• Some travel is required, depending on one’s assignments and location (up to 30%).
• 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.

#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.

We offer a wonderful benefits package including: Medical, Dental, Vision, Pre-tax Flexible Spending Account, Backup Child Care Program, Pre-Tax Day Care Flexible Spending Account, Paid Family Care Leave, Vacation Days, Sick Days, Paid Holidays, Pet Insurance, Matching 401(k), and Retirement/Pension.

We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, perform essential job functions, and receive other benefits and privileges of employment. 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 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. This enhanced screening will require the following items: academic and employment verifications, FBI fingerprint check (criminal and civil cases), credit check, family history, residential records and foreign travel for the previous 7 years, citizenship verification, reference checks, and personal interview with an investigator and can take between 21 – 60 days to clear.

Full Time / Part TimeFull time

Regular / TemporaryRegular

Job Exempt (Yes / No)Yes

Job CategoryBank Examination

Work ShiftFirst (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.

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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