Operational Risk & Resilience Lead Examiner

Company

Federal Reserve Bank of New York

Working at the Federal Reserve Bank of New York positions you at the center of the financial world with a unique perspective on national and international markets and economies. You will work in an environment with a diverse group of experienced professionals to foster and support the safety, soundness, and vitality of our economic and financial systems.  

The Bank’s flexible work model supports balancing the demands of work and life, while prioritizing the value of connecting and collaborating with our colleagues in person. Employees are expected to live within a commutable distance of their primary work location to support team collaboration.

What we do:

The Supervision Group of the Federal Reserve Bank of New York (FRBNY) supervises banks in the Second District. The objectives of supervision are to:

• Evaluate and promote the overall safety and soundness of supervised institutions

• Ensure supervised institutions’ compliance with relevant laws and regulations, including consumer protection

• Facilitate the stability of the financial system of the United States

• Support the growth and stability of the U.S. economy

Supervision is carried out through a combination of methods, including on-site and off-site examinations involving staff dedicated to the supervision of an individual firm and other professionals focused on analytical, policy and risk matters. Supervision is coordinated with other US agencies.

The Large Institution Supervision Coordinating Committee (LISCC) Program function is responsible for executing 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).  This supervision is accomplished through close coordination and in partnership with LISCC Dedicated Supervisory Teams (LISCC - DST) assigned to supervise individual firms, other Group business leaders, as well as LISCC leadership at the Board of Governors and other Federal Reserve Banks.

Within the LISCC (Large Institution Supervision Coordinating Committee) Governance & Controls Program, the Operational Risk & Resilience (ORR) horizontal team supervises the safety, soundness and resilience of large financial institutions.  The ORR horizontal team evaluates the risk management capabilities that support the identification, measurement, assessment, and control of the full spectrum of operational risks, business line operational controls and technology, risk control self-assessment, risk aggregation, data management, vendor risk management, and business resiliency and continuity of supervised financial institutions. In addition to ORR-related examination work, the team’s year-round monitoring efforts include focused firm engagement and analysis designed to monitor firms’ strategies, products, and risk taking related to operational risk and resilience, with the goal of directing and informing future supervisory activity. 

Your role as Operational Risk and Resilience Lead Examiner: 

• Participate in the planning and execution of complex supervisory work to assess the adequacy of operational risk management and resilience practices. Supervisory work includes cross-firm/horizontal examinations, firm-specific examinations, remediation validation, and monitoring activities.

• Engage with firm-specific Designated Supervisory Teams (DSTs) and Program Function to discuss and develop annual supervisory plans related to ORR activities.

• Work with DSTs to lead monitoring meetings with firms and analyze firm MIS reports to inform supervisors' views on a range of topics, including identifying new risks and understanding changes in existing risks.

• Develop assessments of ORR activities as an input to firms' supervisory ratings.

• Develop cross-institutional perspectives on sound or leading practices, risk indicators, and comparative standings to inform supervisory policies.

• Lead, or participate on, projects related to ORR topics, including working on Federal Reserve System (FRS) projects and conducting analysis on topics of special interest to the team.

• Present supervisory findings/issues to staff and senior management within the FRS and management at supervised institutions.

• Provide clear, balanced and well-supported messages to senior management of supervised institutions.