Central Point of Contact, Large and Foreign Banking Organization Function - Supervision Group

Federal Reserve Bank of New York
New York, USA
Sep 05, 2019
Sep 22, 2019
Job Function
Industry Sector
Finance - General
Employment Type
Full Time
Department Overview:

The Large FBO Department in LFBO supervises the US Operations of large foreign financial institutions with varying levels of complexity and, accordingly, are subject to different supervisory programs and applicable regulatory guidance. All the firms, however, are currently subject to requirements as outlined in Regulation YY- Enhanced Prudential Standards ("EPS") for Bank Holding Companies and Foreign Banking Organizations and the Federal Reserve's Consolidated Supervision Framework, outlined in SR 12-17. The department is organized along three portfolios each focusing on a group of institutions.

Job Responsibilities:
  • The Central Point of Contact (CPC) for will report to the Team Leader for this portfolio within the Large FBO Department in LFBO.
  • The CPC is responsible for the development and implementation of a supervisory strategy for the firm's U.S. operations. The CPC will lead a cross-functional team responsible for evaluating various aspects of this firm's liquidity & financial condition and risk management capabilities. The CPC will synthesize these assessments and then develop and implement supervisory actions to address any areas of weakness or knowledge gaps.
  • The aforementioned responsibilities will be carried out through the CPC leadership of an on-site team of dedicated and talented professionals with a broad range of industry and technical expertise. Consequently, the CPC's ability to leverage the capabilities of the onsite team members and the support of the LFBO risk partners is critical for making well-informed judgments about the safety and soundness of firm, which will be reflected in the U.S. Operations annual assessments and in the quarterly Internal Rating Assessment (IRA - using the LFI Ratings) and routine continuous monitoring (RCM) memo.
  • The CPC will engage regularly with the Americas' chief executive officer and his executive management team. This regular interaction will be the primary channel of receiving information from and delivering supervisory messages to the senior leadership of the firm, including to executive management and the U.S. Risk Committee.
  • The CPC will engage regularly with other CPCs, LFBO management, and leaders within the Bank and in the Federal Reserve System to share information, to provide critical insights into supervised firms, to participate in the development of supervisory policy, and to obtain appropriate supervisory perspective.
  • The combined effect of these activities will be a deep and nuanced understanding of firm, a clear supervisory message about where the firm stands, and an agreed upon supervisory program for prompting the firm to address matters that require attention.

  • Senior level executive presence to effectuate change at the supervised firm, and strong command of communication to influence and persuade at the senior most levels inside the Bank and the Federal Reserve System;
  • Strong critical thinking skills and the ability to see the "Big Picture" to arrive at sound supervisory judgments;
  • Ability to absorb large amounts of information and synthesize complex ideas and explain them clearly;
  • Strong self-management skills, as evidenced by the ability to take initiative and ownership of assignments and produce results under time constraints within rapidly evolving priorities;
  • Strong coordination/collaboration skills and the ability to build effective working relationships within Supervision and with external stakeholders. This role will involve extensive interaction/collaboration with members of the team, colleagues on other teams in LFBO, including risk partners, a variety of other people who work in other parts of Supervision, other parts of the New York Federal Reserve Bank, parts of the Federal Reserve System, and other regulatory authorities in the United States and in Europe;
  • Strong people management skills and the ability to lead, coach, and develop staff;
  • Master's degree, JD, or CFA (preferred but not required), with 10 years of proven professional experience and demonstrated leadership, management, and operational experience (within a broker-dealer preferred); working knowledge of financial industry / bank accounting, financial analysis, financial market/investment banking instruments, advisory services and risk management is a plus, but not necessary;
  • Extensive experience/knowledge of large financial institution supervision, FBO supervision (preferred), Applicable Supervisory Letters with a focus on SR 12-17, Regulation YY and Enhanced Prudential Standards. Strong preference for a Board Commissioned Examiner; and
  • Possible travel to Europe, as appropriate.

This position requires access to confidential supervisory 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, U.S. permanent residents who are not yet eligible to apply for naturalization and U.S. permanent residents who have applied for naturalization within six months of being eligible to do so.

The successful candidate for this position will be considered a senior examiner and subject to the post-employment restriction under the Federal Reserve SR Letter 05-26. An examiner who served as a senior examiner for a state member bank, bank holding company, or foreign bank for two or more months during the examiner's final twelve months of employment with a Reserve Bank is prohibited from knowingly accepting compensation as an employee, officer, director, or consultant from that institution or from certain related entities. For further information on the prohibition, please contact the FRBNY Ethics Office.

The Federal Reserve Bank of New York is committed to a diverse workforce and to providing equal employment opportunity to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, or military service.

To Apply:
All interested candidates must submit a cover letter and resume through the Bank's FedCareers website and apply to Req Job #260728

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