LFBO Specialist

Reference #: R CompanyFederal Reserve Bank of Philadelphia

The Federal Reserve Bank of Philadelphia is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. It helps formulate and implement monetary policy, supervises banks and bank and savings and loan holding companies, and provides financial services to depository institutions and the federal government. The Federal Reserve Bank of Philadelphia serves eastern and central Pennsylvania, southern New Jersey, and Delaware.

The Large and Foreign Banking Organizations (LFBO) risk specialist has strong knowledge of risk management practices related to financial risks and governance and controls at large financial institutions. The risk specialist participates in a variety of supervisory activities for firms generally having an asset size greater than $100 billion with complex operations. Individuals in this role demonstrate strong leadership capabilities and technical skills.

The following job descriptions details the requirements for a LFBO Senior Specialist - Examinations. Applicants with less experience or education may be considered for LFBO Specialist - Examinations position.

What You Will Do:Operational Principal Duties and Responsibilities:Has strong knowledge of operational risk factors, including payments, fraud, vendor risk management, project management, first and second line controls, internal audit, compliance, broker/dealer activities, and common governance, reporting, and monitoring methods employed by large financial organizations.Assesses operational risk and governance and controls at financial institutions in the LFBO portfolio.Participates in supervisory events and/or continuous monitoring activities related to operational risk and governance and controls, in general.Works well in teams and collaborates effectively with other risk specialty partners in conducting supervisory activities.Participates in supervisory activities for cross-firm events conducted for firms supervised by the FRS, when applicable.Produces strong written products that require minimal editing and adhere to FRS standards and guidelines.Possesses strong presentation skills and can communicate effectively at various levels within an organization.Ensures supervisory activities are completed in accordance with Reserve Bank and Federal Reserve System (FRS) standards.Engages in self-development to grow and enhance technical and leadership skills and abilities.Contributes to other supervisory portfolios, as well as local initiatives and projects, as applicable.

Additional Responsibilities:Demonstrates leadership skills and supports a collaborative and diverse work environment.Manages administrative responsibilities well, including expenses, time keeping, and record retention.Demonstrates effective Core competency skills at related levels, both internally and externally.Accountable for adherence to Custody Control Principles and Standards; the Information Security Manual; and all other Bank/Departmental control procedures to include Committee on Sponsoring Organizations guidelines.Complies with all applicable information security policies, guidelines, and practices.

What You Have:Education and Experience:Bachelor's degree required. Master's Degree preferred.Commissioned by the Board of Governors (BOG), possesses a commission from a federal banking supervision agency, or agreement to pursue a commissioning preferred.Ability to make assessments about operational risk management practices and the quality of control environments.Minimum of six years of relevant experience required.

Knowledge and Skills:Excellent communication, interpersonal, and organizational skills.Ability to handle multiple assignments and projects in an efficient, effective manner.Ability to analyze financial and business information and to draw conclusions supported by analysis.

Other Requirements:Valid Driver's license required.Some travel is required.U.S. citizenship required.

Physical Requirements:Ability to sit, enter data, and verify data at a personal computer for extended periods of time.

The for this position is: 15/16. Final salary and offer will be determined by the applicant's background, experience, and skills, and internal equity and alignment with market data.

We offer a great benefits package that features:Medical (4 options), Prescription, Dental (3 options), and Vision Insurance with no waiting period401k/Thrift Plan with generous employer matchEmployer-funded Pension PlanPaid Vacation/Sick Time & HolidaysMonthly $100 Commuter AllowanceFlexible Spending Accounts and Healthcare Spending AccountsFlexible Work Schedule available in most departmentsLife Insurance and Long Term Disability InsuranceTuition Reimbursement (undergraduate and graduate)Parental LeaveFree onsite 24/7 Fitness Center including training classes, Peloton bikes and locker room / shower facilitiesOnsite Cafeteria & Coffee ShopAdditional Convenience Benefits, Discounts and More...

Additional Information:The Federal Reserve Bank of Philadelphia believes that diversity, equity and inclusion among our employees is essential to our success as an organization, and we want to recruit, develop and retain the most accomplished people from a diverse candidate pool. To support a workplace culture of belonging, we offer eight employee resource groups (ERGs) and a 100 percent rating on the Human Rights Campaign (HRC) Corporate Equality Index. The Federal Reserve Bank of Philadelphia is proud to be an equal opportunity workplace.We have eight employee resource groups (ERGs) to support a diverse workforce. Abilities (supporting disabilities and allies), African Heritage, Asian-Pacific, Freedom (supporting LQBTQ+ and allies), Talent Forward (supporting career growth), Women United, Working Families and Veterans. ERGs are open to all employees.We will ensure that individuals with disabilities are provided reasonable accommodations to participate in the job application or interview process, to perform essential job responsibilities, and to receive other benefits and privileges of employment.All Federal Reserve Bank of Philadelphia employees must comply with the Bank's ethics rules, which generally prohibit employees, their spouses/domestic partners, and minor children from owning securities, such as stock, of banks or savings associations or their affiliates, such as bank holding companies and savings and loan holding companies. If you or your spouse/domestic partner or minor child own such securities and would not be willing or able to divest them if you accepted an offer of Bank employment, you should raise this issue with the Recruiter for this posting, who can provide you contact information for our ethics officer if necessary. You should review the to ensure compliance with conflict of interest rules and personal investment restrictions.Background investigations and drug testing are required for all new hires as a condition of employment, after the job offer is made. Candidates for positions deemed as "safety sensitive" will also be screened for the presence of marijuana. Employment may not begin until the Bank accepts the results of the background investigation.Due to the nature of the information you will have access to, we require that you also complete a more in-depth enhanced background screening (Peraton modera