Senior Large Bank Examiner – Operational Risk and Third-Party Risk

Company

Federal Reserve Bank of ChicagoThe Federal Reserve Bank of Chicago's (FRB-C) Large Financial Banking Organizations Division (LFBO), which sits within the Supervision and Regulation (S&R) Department, is comprised of banking risk specialists who supervise the largest, most complex domestic and foreign banking organizations within the 7th District, and specialized and regional banking organizations.

Members of the Large Bank Supervision job family provide supervisory oversight through continuous monitoring and examination activity by engaging with institution executives who have a knowledge of their functional or risk area.

LFBO is seeking a Senior Large Bank Examiner focusing on the assessment of operational and third-party risks within a global and complex financial institution.

The examiner will be responsible for determining the effectiveness of the firm’s operational and third-party risk management frameworks that supports the identification, measurement, assessment, and control of the full spectrum of risks as related to those areas.

As a member of a large bank dedicated supervisory team, the individual will lead the team’s supervisory assessments and examinations over these areas as well as a spectrum of related non-financial risks to promote effective risk management of core business lines.

Additionally, coordination with other domestic and global regulators is important in the assessment of operational, third-party, and related risks in different jurisdictions.

The individual will serve as a primary contact a designated foreign regulatory agency.

This position will be based in the Chicago office and will require travel (about 10%). The level of work is considered advanced, and the qualified candidate must be able to work under minimal supervision.

This position has no direct reports.

Your Responsibilities :

Consult and serve as an initial contact and subject matter expert in relation to the firm’s operational and third-party risk management functions, designated business lines and legal entities.

Analyze and understand the firm’s global operational risk management and controls including Risk Control and Self-Assessment program as well as practices to mitigate risk.

Analyze and understand the firm’s global third-party risk management program, and other relevant risk management programs including fraud and artificial intelligence.

Where applicable engage with foreign regulatory authorities to advance regime specific regulatory risks.

Assist in developing firm risk assessments and supervisory strategies and the preparation of examination scopes and findings.

Provide briefings to colleagues and others in the supervisory community.

Prepare and deliver clear, well-supported, 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 firm management and reviewing firm-submitted materials to ensure objective and timely assessment of operational and third-party risks.

Consolidate and analyze information from multiple sources to identify industry trends and new issues. Identify the effects of these trends, both at the micro and systematic levels and propose approaches to identified issues.

Develop and maintain an awareness of potential changes to key rules, laws and regulations, and supervisory policies.

Lead or participate in firm-specific examinations and horizontal events by providing written conclusions and findings for inclusion in supervisory reports.

Build and maintain strategic work 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.

Be receptive to coaching, training and mentoring; serves as a mentor and / or coach; provides technical expertise, training and constructive feedback to all levels of staff

Your Background :

Bachelor's degree or equivalent experience

Seven plus years of direct work-related experience

Expertise in operational risk and third-party risk in a banking environment is preferred.

Advanced degrees or professional certifications (e.g., CRM, PRM, ORM, CFE, CISI, etc.) or an examiner commission are helpful but not required.

Expertise in Risk Control Self-Assessment Programs

Demonstrate independent and critical thinking and decision-making abilities, learning agility as well as have strong written and oral communication skills.

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 work teams.

Demonstrate the ability to effectively lead and influence a team with limited oversight and 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.

We are seeking a candidate who will bring diversity of thought, a culture of inclusion, and a commitment to equity to the team.

Experience in Large Bank Supervision is preferred.

Federal Reserve System Examiner Commissioning or progress towards preferred.

What we Offer :

Comprehensive benefits package, including medical, dental, vision, prescription drug coverage, 401k savings plan with matching contributions, retirement plan, paid time off, childcare subsidies, parental leave and a transit benefit.

A continuous learning environment with opportunities to gain new skills and grow your career by opportunities for subsidized advanced educational degrees.

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 position. 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.

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

Job Category

Bank Examination

Work Shift

First (United States of America)

Always verify and apply to jobs on Federal Reserve System Careers () or through verified Federal Reserve Bank social media channels.