Operational Risk Specialist (Finance)

Company

Federal Reserve Bank of Dallas

We are dedicated to serving the public by promoting a strong financial system and a healthy economy for all. These efforts take a team of dedicated individuals doing many different jobs. Together we're creating a workplace where talented people can thrive, and we welcome your unique background and perspective to help present the best possible solutions for our partners.

Location: #LI-Hybrid

About the Role:

We have an excellent opportunity on a Large and Foreign Banking Organization (LFBO) Dedicated Supervisory Team to serve as a risk specialist covering Independent Risk Management broadly and with emphasis for assessing the firm's enterprise and operational risks and related risk management processes from a safety and soundness perspective.  You will report to the Director of Examinations/Deputy Central Point of Contact and be a part of a team of examiners responsible for assessing Governance and Controls (G&C) under the Federal Reserve's Large Financial Institution's (LFI) Rating Framework. 

As a firm within FRBD's growing LFBO portfolio, the firm is a Category III institution subject to the Dodd-Frank Act Enhanced Prudential Standards and the Capital Plan Rule.  The successful candidate will have the opportunity to be exposed to the development of, and directly supervise, emerging activities in an assessment of the firm's continued safety and soundness within the financial industry, across all three lines of defense.  As such, a deep understanding of the Consolidated Supervision Framework for Large Financial Institutions outlined in SR Letter 12-17 is required.  The candidate should also be familiar with the LFI Ratings Framework outlined in SR Letter 19-3, as well as any other applicable guidance.

You Will:

• Lead the coverage of independent risk management, with a particular focus on operational risk areas and lead or participate in the supervisory assessments of enterprise risk management, board effectiveness, independent risk management, compliance, management of business lines, and internal audit.
• Act as Examiner-in-Charge of related supervisory events, conduct horizontal and coordinated reviews, and routinely interact with internal and Federal Reserve System (FRS)-level colleagues, other regulators, and the firm's senior management and staff.
• Contribute to the assessment of regulatory ratings for G&C as well as risk management and CAMELS.
• Develop and implement a strong risk-focused supervisory program in accordance with the LFBO Management Group's program requirements.
• Define and conduct ongoing risk-focused supervisory activities, including MIS reviews and leading routine meetings with management to develop a deep and broad understanding of the firm's strategies, risks, and risk management practices.  Perform timely and periodic risk analyses to determine the level and trend of risks and identify emerging issues.
• Develop creative approaches for evaluating coverage areas and related risk management practices relative to peer companies.  Devise methods to efficiently incorporate internal and external data into the ongoing supervision process.
• Deliver clear supervisory messages to management that describes where the firm stands relative to supervisory expectations and required actions for addressing matters that require attention, as applicable.
• Collaborate with other risk specialists on the team and the Texas Department of Savings and Mortgage Lending (SML) examiners to develop a comprehensive understanding of operational risks.
• Build and maintain effective working relationships within the team, with peers, within FRBD, FRS, with other regulatory agencies (especially the SML as well as the SEC and FINRA).
• Demonstrate agility and leadership through the ability to cover other risk topics not specifically captured in primary areas of responsibility, based on team needs.
• Ensure high quality and timely completion of required supervisory work products and perform quality control to ensure compliance with local policies/procedures and FRS requirements.
• Interpret regulatory guidance and evaluate the potential impact on the safety and soundness of the firm.  Maintain an awareness of potential changes to key rules, laws and regulations, and supervisory policies as applicable.

You Have:

• Bachelor's degree in business administration, finance, economics, or other related field is required; advanced degree is preferred.
• Seven or more years of direct supervisory or comparable banking and financial industry experience.  An active examiner commission from a federal or state banking supervisory agency is preferred.
• Working knowledge with the Federal Reserve's Consolidated Supervision Framework for Large Financial Institutions and LFI rating (e.g., SR 12-17 & SR 19-3) as well as the CAMELS rating framework.
• Strong written and verbal communication skills.  An ability to listen and communicate clearly, logically, and persuasively at multiple levels in the organization and effectively articulate themes and conclusions both verbally and in writing.
• Advanced analytical skills and the ability to apply and explain complex regulatory concepts.  Strong problem-solving skills that support and enable sound decision-making, and the ability to synthesize large amounts of complex, disparate information to formulate well-supported conclusions and concise views.
• Experience evaluating a variety of risks facing complex financial institutions, and the ability to identify prudent practices for managing those risks.
• Capacity to pursue multiple initiatives at the same time and deliver successful outcomes.

Our Benefits:

Our total rewards program offers benefits that are the best fit for you at every stage of your career:

• Comprehensive healthcare options (Medical, Dental, and Vision)
• 401K match, and a fully funded pension plan
• Paid vacation, holidays, and volunteer hours; flexible work environment
• Generously subsidized public transportation and free parking
• Annual tuition reimbursement
• Professional development programs, training and conferences
• And more…

Notes:
 

This role allows for the employee to work in a hybrid manner with some work conducted onsite at the Federal Reserve work location and some work conducted remotely. Specific schedule details will be discussed during the recruitment process. This position is located in Dallas, Houston or San Antonio.  All candidates must be prepared to travel for periodic onsite examinations. 

This position requires access to confidential supervisory information and/or FOMC 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, and U.S. permanent residents who either are not yet eligible to apply for naturalization or who have applied for naturalization within the requisite timeframe. Candidates who are permanent residents may be eligible for the information access required for this position if they sign a declaration of intent to become a U.S. citizen and pursue a path to citizenship and meet other eligibility requirements. In addition, all candidates must undergo an enhanced background check and comply with all applicable information handling rules. 

The Federal Reserve Bank of Dallas is proud to be an Equal Opportunity Employer that believes in the diversity of our people, ideas and experiences, and we are committed to building an inclusive culture that represents the communities we serve.

If you need assistance or an accommodation due to a disability, please notify your Talent Acquisition Consultant.

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

Yes

Job Category

Work Shift

First (United States of America)

The Federal Reserve Banks believe that diversity and inclusion among our employees is critical to our success as an organization, and we seek to recruit, develop and retain the most talented people from a diverse candidate pool. The Federal Reserve Banks are committed to equal employment opportunity for employees and job applicants in compliance with applicable law and to an environment where employees are valued for their differences.

Always verify and apply to jobs on Federal Reserve System Careers (https://rb.wd5.myworkdayjobs.com/FRS) or through verified Federal Reserve Bank social media channels.

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