LBO Central Point of Contact (Ameriprise Examiner in Charge)

Company

Federal Reserve Bank of Minneapolis

The Federal Reserve Bank of Minneapolis supports the Federal Reserve System in ensuring a safe, sound, and accessible banking system and stable financial markets through supervision and regulation of the nation's banking, financial and payments systems and through effective implementation of statutes that inform and protect the consumer.

This bank also works with other federal and state agencies and regulators to promote safety and soundness in the operation of the financial industry and fair and equitable treatment of consumers in their financial transactions.

This open Central Point of Contact (CPC) role is responsible for overseeing the development and execution of the Reserve Bank’s supervisory plan of Ameriprise Financial, Inc. and potentially one other Supervised Insurance Organization (SIO). The CPC participates in high profile areas such as the assignment of supervisory ratings and involvement in projects as directed by Federal Reserve System management groups. The CPC will support a diverse work force and promote the sharing and resolution of divergent views.

Ameriprise, headquartered in Minneapolis, Minnesota, is a holding company with $175 billion in consolidated assets and nearly $1.4 trillion of assets under management and administration. Ameriprise offers a wide array of wealth management products and services for individuals including financial planning, managed accounts, life insurance, annuities, and estate planning. It also provides institutional asset management services, including a large family of mutual funds that it offers through affiliates and third parties.

Essential Functions

Oversees development and execution of continuous risk-focused supervisory program for SIOs, including:      

• Identifies supervisory priorities which include developing supervisory strategy and plan with input from the dedicated team members.
• Adapts the supervisory approach to reflect changes in the institution's risk profile and System risk priorities.
• Evaluates the risk profile of the institution to understand the core risk exposures and whether those risks are adequately measured, monitored, and managed by the consolidated organization.
• Works closely with project managers to incorporate and execute System horizontal reviews.
• Oversees the execution of the supervisory program and ensures that the scope documents for inspections/reviews are appropriate and staffing of the inspections/reviews are with the appropriate level of examiner expertise.
• Communicates issues, inspection/review findings, strategies, trends, and emerging issues to Reserve Bank senior management and Board staff.
• Maintains professional and productive working relationship and communication with the firm's board of directors, senior management, and key business line managers to monitor trends and developments, as well as resolves issues and communicates supervisory findings.
• Develops and maintains effective working relationship with other regulators to coordinate the identification and evaluation of material risks arising from the firm's operations.
• Develops the annual supervisory report and reviews quarterly assessments drafted by the dedicated team.
• Works collaboratively with CPCs of other SIOs across the System to enhance consistency in approach, to facilitate sharing of best practices, and to identify emerging issues.
• Provides input regarding Federal Reserve System supervisory guidance and processes.
• Participates in ongoing professional development, attends System conferences, serves on System committees or work groups, and oversees team participation in System initiatives.
• Contributes to the achievement of the goals and objectives of the Safety and Soundness unit, SRC and the Reserve Bank.
• Participates or leads system projects as directed by the applicable System Management Group or subcommittees.
• Promotes a work environment that fosters willingness to share divergent views.

Manages a dedicated team of examiners assigned to the supervision of the firm to include the following:

• Leads, coaches, and mentors the dedicated team by providing vision and guidance, reviewing work products, giving timely and constructive feedback, and holding people accountable to achieve results.
• Makes hiring decisions and provides promotion recommendations.
• Participates in salary administration and conducts performance evaluations.
• Provides assignments and training, taking into account the needs of the Reserve Bank and career development goals of individuals.
• Performs other duties as assigned. 

Qualifications:

• Bachelor's Degree in a related field.  Master’s degree preferred.
• Substantial related experience (8 years) in financial services