Supervisory Manager, Large and Foreign Banking Organizations - Supervision Group

Federal Reserve Bank of New York
New York, USA
Oct 08, 2019
Oct 23, 2019
Job Function
Industry Sector
Finance - General
Employment Type
Full Time
At the Federal Reserve Bank of New York, the work we do is consequential and challenging. Our environment encourages growth and diversity. Our employees flourish in a team-oriented atmosphere and are dedicated to the important mission of the New York Fed.

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.

What we do:

  • The Supervisory Manager will report a Team Leader within the Large FBO Department in the LFBO function.
  • The Supervisory Manager is responsible for the development and implementation of the supervisory strategy for two firm's U.S. operations, which constitutes the annual ROCA exams, risk-focused horizontal reviews, targeted reviews of key business lines and continuous monitoring meetings, and the annual Combined U.S. Operations (CUSO) rollup assessments. The firm also must be monitored for its remediation progress against its OFAC Sanctions C&D. Both are currently subject to Reg. YY's Enhanced Prudential Standards.
  • Other primary U.S. based regulatory authorities include the SEC, FINRA, and NYSDFS, with the ECB and ACPR as the home-country authorities.
  • The Supervisory Manager will lead a cross-functional team responsible for evaluating various aspects of both institution's risk management capabilities and financial condition. The Supervisory Manager will synthesize these assessments and then develop and implement the appropriate supervisory actions to address any areas of weakness or knowledge gaps.
  • The aforementioned responsibilities will be carried out through the Supervisory Manager's leadership of two dedicated associates, who possess a broad range of industry and technical expertise.
  • Consequently, the Supervisory Manager's ability to leverage the capabilities of the dedicated associates and the support of the LFBO risk partners (based on the risk prioritizations of the two firms) is critical for making well-informed judgments about the safety and soundness of the firms
  • The Supervisory Manager will engage regularly with the chief executive officers of the two firms and their respective executive management teams. This regular interaction will be the primary channel of receiving information from and delivering messages to the senior leadership of the firm, including to the respective Group executive management and their U.S. Risk Committees.
  • The Supervisory Manager will engage regularly with other Supervisory Managers and Central Point of Contacts, 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 reasonably deep and nuanced understanding of the firms, a clear supervisory message about where the firms stand, and an agreed upon supervisory program for prompting the firm to address matters that require attention.

What we are looking for:

  • Senior level executive presence to effectuate change at the supervised firms, and well-articulated 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 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 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 and coach staff as a player-coach;
  • Master's degree, JD, or CFA (preferred but not required), with 10 years of proven professional experience and demonstrated leadership, management, and banking and/or banking supervision experience; 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.

Why the Fed:

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'll work in an environment with a diverse group of talented professionals to foster and support the safety, soundness, and vitality of our economic and financial systems. It's a challenge that demands the skills of a financial services professional and the intellectual curiosity of an academic-all combined with a passion for public service.

The Federal Reserve Bank of New York is committed to a work environment that respects and fully values the strengths and differences of its people. Working at the New York Fed provides talented professionals the chance to grow their skills at an institution that has served a critical role in the financial system of the United States and the world for over a century. An important component of the Bank's diversity effort is our partnership with several professional non-profit organizations, including INROADS, JumpStart Advisory Group, NBDC Emerging Leaders, Seizing Every Opportunity, National Black MBA, Out for Undergrad, Prospanica and Reaching Out MBA.

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