Sr. Risk Specialist, Compliance - Large Institutions

Company

Federal 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