Senior Community, Regional, and Specialty Bank (CRSB) Examiner –Credit Risk

Company

Federal Reserve Bank of Chicago

The Federal Reserve Bank of Chicago is one of 12 Reserve Banks that, along with the Board of Governors in Washington, D.C., constitute the Federal Reserve System, which was established by Congress in 1913.
The fundamental mission of the Federal Reserve System is to foster the stability, integrity, and efficiency of the nation's monetary, financial and payment systems and to promote optimal economic performance. To this end, the Federal Reserve Bank of Chicago serves the public interest by participating in the formulation and implementation of national monetary policy; supervising and regulating state member banks, bank holding companies and foreign bank branches; providing financial services to depository institutions, designated financial market utilities, and the U.S. government; and promoting consumer protection and community development.

The Seventh Federal Reserve District serves a five-state region, comprising all of Iowa and most of Illinois, Indiana, Michigan, and Wisconsin. The Seventh District has more individual banks than any other Federal Reserve District. It also comprises a considerable part of the nation’s manufacturing base, especially capital goods and consumer durables, as well as agricultural production and food processing.

Department Overview:
The Supervision and Regulation Department plays a critical role in the Reserve Bank's core mission, supervising and regulating state-chartered banks that are members of the Federal Reserve System, bank holding companies, savings and loan holding companies, financial holding companies, and foreign banking organizations. As part of the Federal Reserve System, our nation’s central bank, our duty is to foster the stability, integrity, and efficiency of the nation's monetary, financial, and payment systems to promote optimal economic performance. We seek individuals who hold themselves to the highest standards and who flourish in an environment of collaboration and inclusion. Our most successful staff have strong critical thinking skills, as well as strong verbal and written communication.

The Regional & Community Supervision (RCS) Division provides supervisory oversight of financial institutions of varying complexities that have a close relationship with the communities they serve. The credit team is comprised of credit risk specialists who provide leadership and subject-matter expertise on Seventh District and National Program examinations/inspections and conduct division-wide training, primarily focused on credit concepts most relevant to community and regional banking organizations.

Your Responsibilities:

• Leverages in-depth credit knowledge and/or expertise to serve as Assigned Point of Contact (APC), Examiner in Charge (EIC), Asset Quality in Charge (AQIC), or as a member of a full-scope or target examination/inspection team.

• Assesses credit risk management and ensures the financial institution is operating in a safe and sound manner and in compliance with applicable laws and regulations. 

• Performs credit file reviews, opines on Current Expected Credit Loss (CECL) methodology, and evaluates Allowance for Credit Losses (ACL) determinations.

• Reviews the effectiveness of independent loan review functions.

• Draws on professional experience to present and make supervisory recommendations and resolve moderately complex to complex issues.

• Supports RCS examination/inspection activities by participating in vetting meetings and addressing credit-related questions from internal and external stakeholders.

• Identifies and monitors credit risk trends, emerging issues, and key exam findings applicable to the RCS portfolio and shares knowledge on a district/System level through various internal and external forums.

• Shares knowledge and technical expertise and provides constructive feedback to less experienced staff.

• Takes an active role in developing and/or providing effective training, mentoring, and coaching with the goal of building credit risk bench strength in the RCS Division. 

• Actively participates in Seventh District risk forums.

The level of work is generally considered advanced, and staff must be able to work under minimal supervision.  This position has no direct reports.

Your Background: 

Candidates must have the following:

• Bachelor's degree or equivalent experience

• Seven plus years of direct work-related experience

• Federal Reserve System Examiner Commissioning or progress towards preferred

• Expertise in credit risk and credit risk management

• Advanced analytical and problem-solving skills

• Independent critical thinking and decision-making