Risk Specialist I / II / Senior

Company

Federal Reserve Bank of Cleveland

The Federal Reserve Bank of Cleveland is part of the nation’s central bank, and we’ve provided many opportunities for professional growth during our history.

For twenty-five years in a row, we’ve been named “One of Northeast Ohio’s Best Places to Work” by North Coast 99. This prestigious award honors organizations with outstanding employment practices, including compensation, benefits, training, recruitment, retention, community services, and employee communications.

Our People Make the Difference! The Federal Reserve Bank of Cleveland is seeking innovative thinkers with vision to build the framework that will carry the Bank into the future.

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Supports the Federal Reserve`s mission of financial system stability. An individual in this position is as an integral member of the risk discipline team. Serves as an assisting examiner, and at times, as examiner-in- charge or in-charge lead risk specialists, for supervisory activities at moderate, noncomplex to large/complex supervised bank/financial/savings loan holding companies and their subsidiaries. Also, may participate on national horizontal reviews. Assignments include execution of supervisory reviews and continuous monitoring activities focused on the effectiveness of risk identification, risk management and governance practices for risk discipline. Ensures supervised institutions are in compliance with applicable laws, regulations, and policy statements. Supports gathering of cross firm and banking industry/system risks and developments to understand and build perspectives on micro (institution -specific), horizontal (industry wide/peer) and macro (financial system supervision) risks and vulnerabilities. Participates on projects, outreach, and training.

Essential Job Responsibilities

• Leads or participates on cybersecurity and/or financial technology related examinations to determine the effectiveness of a FIs cyber security program and validate their remediation efforts of identified issues.
• Leads or participates on Federal Reserve System and local cybersecurity initiatives related to training, committees and development of policy statements to enhance the supervision of FIs
• Perform continuous monitoring across the FI portfolio to understand micro (institution specific), horizontal (industry wide/peer), and macro (financial system supervision) cybersecurity risks.
• Prepares informative, well supported supervisory products and work papers, effectively communicating complex and problematic supervisory findings and required actions to senior management and board of directors.
• Prepare supervisory plans for relevant and effective risk-based supervision factoring in the size and complexity of the target firm. 
• Prepares and delivers written analyses and presentations on FI specific and industry trends or emerging risk. 
• Analyze information and determine an estimated risk and potential impact to the financial institutions and financial services industry. 
• Develop and maintain ongoing relationships with supervisory personnel at the Board of Governors and Reserve Banks, across other regulatory agencies, as well as senior management and directors of FIs to ensure strong communication of supervisory expectations.
• Maintain a global awareness of relevant regulations, laws, emerging issues, trends, and ongoing developments in the financial service. 

Education and Experience

• Risk Specialist I: Bachelor's Degree and 5+ years of related work experience required.
• Risk Specialist II: Bachelor’s Degree and 7+ years of related work experience required.
• Risk Specialist Sr: Bachelor’s Degree and 10+ years of related work experience
• Commission certification preferred

Knowledge and Skills Area

• Expert knowledge of regulations, procedures and practices of bank examination
• Advanced ability to perform independent research
• Advanced knowledge of project management
• Intermediate knowledge of Microsoft Office
• Expert problem solving and analytical
• Expert specialized operational/technical skills in specialty area
• Advanced written and verbal communication
• Advanced presentation
• Advanced public speaking
• Advanced strategic thinking/planning

Citizenship requirements

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. permane