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Governance & Controls Senior Associate (Consumer/Retail) at Federal Reserve Bank (FRB) in New York City, New York

Posted in General Business 30+ days ago.

Type: Full-Time

Job Description:

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. It is a challenge that demands the skills of a financial service professional and the intelligence of an academic-all combined with a passion for public service.

What we do:

The Large and Foreign Banking Organization (LFBO) Function within the Supervision Group at the Federal Reserve Bank of New York monitors and assesses the safety and soundness of Second District firms that are domestic or foreign-owned with U.S. operations over $100 billion in assets, excluding the Large Institution Supervision Coordinating Committee (LISCC) firms. This is accomplished through system horizontal reviews, target examinations and continuous monitoring programs.

Your role as Governance and Controls Senior Associate:

You will oversee governance and controls practices, including board effectiveness, management of businesses, and independent risk management and controls, take lead responsibility for monitoring consumer business and retail credit risk and will also lead and/or help develop and execute activities to evaluate board effectiveness. You will report to the Dedicated Supervisory Team's (DST) Central Point of Contact (CPC).

  • Lead and/or contribute to evaluation of the adequacy of governance and controls practices across consumer business line, retail credit risk, and independent risk management and control functions, through monitoring and examination activities, with a focus on:

    • Governance: Ensure senior management maintains an risk management framework and enables and enforces prudent risk taking behaviors and business practices.

    • Strategy: Confirm business line activities are performed consistent with strategy and risk appetite.

    • Risk Management: Ensure that inherent risk is identified and measured and that this information is provided to senior management.

    • Business Line: Evaluate management's ability to ensure employees operate within established policies, act in compliance with applicable laws, regulations, and supervisory expectations.

  • Lead and/or contribute to evaluation of board effectiveness, including through review of board-level reports, MIS packages, and board meeting minutes, and applying inputs from the CPC.

  • Collaborate on and contribute to, or lead, G&C-related internal supervisory assessments and communications, including quarterly LFBO internal ratings assessments and the Annual Roll-Up, working with the DST's CPC and other DST members.

  • Monitor and analyze management reporting/MIS related to the consumer business line and retail credit risk to identify potential changes in risk profile or strategy.

  • Develop communication channels with firm's consumer business line, retail credit risk, risk functions, and other U.S. bank regulators (NYSDFS and FDIC) to support assessment activities, and to allow flow of information and the remediation of identified supervisory issues.

  • Lead and/or participate in other DST priorities and system-wide LFBO horizontal reviews