Managing Counsel, Supervisory Policy & Outreach - DCCA at Federal Reserve Board of Governors in Washington, Washington DC

Job Description:

Minimum Education

Juris doctor

Minimum Experience

6

Summary

Manages the development and implementation of supervisory policies related to the division's consumer compliance supervision program. Provides legal and subject matter expertise to ensure that supervisory policy and outreach activities accurately reflect current statutory and regulatory requirements, as well as supervisory objectives, related to consumer protection. Leads outreach efforts, including educational activities, regarding consumer protection laws and the supervisory program with regulated entities, industry trade groups, consumer advocacy groups and other government agencies. Serves as Board authority and representative for supervisory policy and outreach related to consumer compliance supervision. Manages staff assigned to the Supervisory Policy & Outreach section. Exercises broad independence in managing the personnel and policy implementation for the assigned section(s).

Duties and Responsibilities

• Manages the development of supervisory policies, including Consumer Affairs (CA) and CA Admin letters and examination procedures, resulting from new statutory and regulatory requirements related to consumer protection. Policy recommendations may impact effective consumer compliance supervision and reflect a careful analysis of consumer protection statutes and regulations.


• Leads reviews of policies to ensure effective supervision and implementation of statutory and regulatory requirements related to consumer protection. Provides legal and policy expertise to ensure that policies and supervisory programs address complex and emerging consumer protection issues.


• Serves as the Board's authority on supervisory policy and outreach related to consumer compliance supervision. Represents the division and the Board before the public, members of the industry, and consumer advocacy groups; speaking at conferences and participating in complex discussions regarding supervisory policy and consumer protection statutes and regulations. Leads outreach efforts, including educational programs, with industry and consumer advocates. Ensures that supervisory policy development reflects an understanding of diverse stakeholder views.


• Conducts briefings and presentations to the Board and in response to requests to review and comment on proposed laws, regulations or policies related to consumer protection.


• Represents the division and the Board with federal financial supervisory agencies and other federal agencies having responsibility for consumer protection to promote effective interagency cooperation; consistent interpretations of consumer protection statutory and regulatory requirements and supervisory policies, when appropriate.


• Writes speeches and Congressional testimonies for Board executives and senior management related to consumer protection and the consumer compliance supervision program.


• Provides oversight to staff responsible for developing examiner guidance as a result of examiner questions regarding consumer protection statutes and regulations. Collaborates with division Regulations Branch and the Legal Division to ensure accuracy.


• Directs staff in projects designed to establish consistency within the Board's consumer compliance supervision programs, including the development, revision and maintenance of System policies, procedures, manuals, data systems, monitoring programs, and interagency efforts related to the program.


• Serves as Board representative on System consumer protection outreach efforts to ensure accurate understanding of supervisory priorities and consumer protection regulatory requirements.


• Reviews Board publications prior to finalization to ensure consumer compliance issues and correspondence related to the consumer compliance program that requires legal and supervisory expertise. Prepares well-written responses.


• Conducts staff performance evaluations, develops and implements staff training/development plans, defines section objectives, makes hiring and budget recommendations, and establishes priority of work.

The Managing Counsel will lead a team of Analysts and Attorneys in the Supervisory Policy and Outreach Section. The Section develops supervisory policies and issues guidance to System staff and supervised institutions to promote effective supervision and compliance with consumer protection laws and regulations. It also engages in outreach with external stakeholders, including industry representatives and consumer advocates, to help inform the Division of Consumer and Community Affair's supervisory and policy-related activities.

• Make recommendations regarding the most complex and sensitive consumer protection and compliance issues. Interpret a complex body of laws, regulations, legal cases, examination and enforcement policies, and position papers. Represents Board interests among federal regulatory agencies, the financial services industry, consumer advocates, and members of the public. Demonstrates initiative and takes risks appropriately. Responsible for policy positions and communicating division position on matters related to consumer compliance examinations and enforcement. Provides leadership for senior and expert level analytical staff; and resolves budgetary issues for section.
• Considered to be a legal expert in supervisory policy, consumer protection laws and regulations. Provides leadership for the development of the supervisory policy and outreach.
• Leads highly complex policy development projects and program development activities affecting the public, the financial services industry, the Federal Reserve and other federal agencies. Resulting work of section can have serious legal, monetary, and public relations impacts on individual banks and bank holding companies. The work requires strong collaboration and information sharing with other divisions at the Board, the Reserve Banks, and other federal and state agencies. Decisions may directly affect how individual consumers and/or the general public are treated and how individual financial entities and/or financial industry behave or operate in the financial services marketplace. The work promotes fair and equitable access to credit through efforts that directly impact:
  
  
  • policy development, for example interagency development of guidance to the industry or to the public or responses to congressional inquiries; and
  • enforcement of consumer protection laws and regulations through examinations and the complaint process
• Interacts with all levels of Board division staff (Legal, Banking Supervision and Regulation, Research and Statistics, and Congressional Liaison Office). Represents the Board when engaging with members of the financial services industry, Congressional staff, staff members from other banking agencies and members of the public. Responds to inquiries by Board members, senior level Reserve Bank staff, members of the public, private organizations, other federal and state agencies, and Congress.
• Manages section workload by allocating staff and other resources appropriately. Conducts staff performance appraisals and handles other related personnel matters. Supervises work of all section staff level (FR24 to FR29). Provides oversight, guidance and suggestions regarding work efforts to varying level of section staff to assist in the final work product. Incumbent faces changing priorities that substantially affect the products and deadlines of subordinates making the quality of the supervision crucial.

Skills/Knowledge Requirements:

Requires a JD degree and admission to the Bar. Six years of specific experience with expertise in consumer protection law or consumer compliance supervision. Thorough understanding of compliance examinations and/or banking supervision. Strongly developed communication and analytical skills. Ability to interpret complex existing and proposed consumer protection laws and regulations; ability to communicate legal positions regarding new or proposed legislation or policy; and ability to synthesize supervisory expectations and regulatory requirements. Excellent analytical, interpersonal, oral and written communication skills are essential. Demonstrated ability to direct staff, set priorities, develop and coach staff, assess staff performance, and make budgetary recommendations are required. Must be able to effectively exercise a high degree of independent judgment, work under tight timetables and deadlines, and deal effectively with numerous project assignments and changing priorities.

The Division of Consumer and Community Affairs (DCCA) has resumed an in-office presence. Our flexible hybrid work environment requires employees to be physically present in the office a minimum of 4 days per month. This includes a monthly connection day (on a Wednesday). On occasion, DCCA employees may be expected to be physically present in the office more than 4 days per month, as required by business needs, but can work remotely the remaining days.

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