Company
Federal Reserve Bank of Richmond
When you join the Federal Reserve—the nation's central bank—you’ll play a key role, collaborating with a dynamic and diverse team of mission-driven professionals to strengthen and protect our economy and our communities.
Bring your passion and expertise, and we’ll provide the opportunities that will challenge you and propel your growth—along with a wide range of benefits and perks that support your health, wealth, and life. In addition to competitive compensation, we offer a comprehensive benefits package that includes tuition assistance, generous paid time off, top-notch health care benefits, child and family care leave, professional development opportunities, a 401(k) match, pension, and more. All brought together in a flexible work environment where you can truly find balance.
The Supervision, Regulation, and Credit (SRC) Department, Large Financial Institutions Supervision (LFIS) unit has an immediate opening for an experienced individual on our Capital One Financial Corporation Dedicated Supervisory Team (DST). The ideal candidate has broad supervisory skills across risk management, governance, and controls, with an interest in compliance risk management and consumer protection laws and regulations. The individual may also have the opportunity to assess risk management practices across supervisory areas on the team.
The candidate will leverage strong analytical, critical thinking, communication, and leadership skills to effectively fulfill their duties. Critical thinking will need to be applied to appropriately assess the effectiveness of controls and risk management practices at the organization, synthesizing the assessment of the institution’s risk management program to ensure the safety and soundness of the institution. The individual will collaborate with highly skilled and talented individuals across the DST and the Federal Reserve System and will contribute to local and horizontal supervisory activities.
What You Will Do
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Lead or participate on examinations and conduct ongoing monitoring to determine the effectiveness of a firm’s risk management program and key business lines. Analyze and interpret information to establish priorities and perform testing to help estimate risk and potential impact to the safety and soundness of the institution.
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Perform examination work related to compliance risk management and governance and controls to ensure safe and sound operations and compliance with applicable laws and regulations. This includes working independently as well as executing responsibilities as directed, reviewing submitted materials, conducting meetings with management, and the production of workpapers that substantiate conclusions.
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Conduct ongoing monitoring of information (e.g., board and senior committee packages) to draw conclusions about risks and trends. Demonstrate well-reasoned judgement in decision making and clearly communicate conclusions to senior management of the supervised institution(s) and internal stakeholders. Monitor and document remediation of supervisory issues and elevate issues as appropriate.
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Lead and/or participate on system horizontal reviews related to Governance and Controls as needed, including vetting of supervisory findings.
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When serving as lead (e.g., Examiner-in-Charge), execute risk focused examinations by setting a scope, leading a team of examiners, reviewing workpapers, drawing conclusions, and presenting findings.
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Identify and communicate current and emerging risks, their impact on the supervised financial institution(s) and the broader financial services industry as applicable.
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Contribute to preparation of supervisory plans for relevant and effective risk-based supervision factoring in size and complexity of the firm.
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Develop and maintain ongoing relationships with key internal and external stakeholders including at the supervised firm(s), within SRC and the Federal Reserve System, and with other regulatory agencies.
Qualifications
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3-9+ years of examination or relevant work experience
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Bachelor’s degree, equivalent work experience, or relevant certification(s) in compliance, legal, or related field
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Demonstrated ability to assess front line, independent risk management, and oversight functions for compliance risk while identifying key issues/concerns.
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Examiner commission and credentials or commensurate industry experience with auditing or risk management and controls preferred.
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Position requires some travel (up to 15%) but may vary depending on circumstances.
Other Requirements and Considerations:
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Employees who work at and/or visit another Federal Reserve entity or outside business as part of their job duties are required to comply with any onsite safety and health protocols of those organizations (including, but not limited to requirements to vaccinate or test, mask, social distance, etc.)
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Candidates should review the
Bank’s Employee Code of Conduct
to ensure compliance with conflict of interest rules and personal investment restrictions.
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If you need assistance or an accommodation due to a disability, please notify
rich.recruitment@rich.frb.org
.
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Employees who work at and/or visit another Federal Reserve entity or outside business as part of their job duties are required to comply with any onsite safety and health protocols of those organizations (including, but not limited to, requirements to vaccinate or test, mask, social distance, etc.).
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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 not U.S. citizens or U.S. permanent residents may be eligible for the information access required for this position and sponsorship for a work visa, and subsequently for permanent residence, if they sign a declaration of intent to become a U.S. citizen and meet other eligibility requirements.
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In addition, all candidates must undergo an enhanced background check and comply with all applicable information handling rules, and all non-U.S. citizens must sign a declaration of intent to become a U.S. citizen and pursue a path to citizenship.
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Under Conflict of Interest guidelines administered by the Board of Governors of the Federal Reserve System, examining personnel may not participate on an examination of a financial institution or affiliate if the examiner was employed by the financial institution or affiliate within the past 12 months.
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Please review
Bank’s Employee Code of Conduct
to ensure there are no major issues related to your previous employment and current financial interests (relevant sections are 5.3 and Appendix B, Parts I, II and III). FRB ethics rules generally prohibit employees and their immediate families from owning investments in banks, savings associations, or their holding companies (Section 5.3). Additionally, employees engaged in Supervision and Regulation may be subject to borrowing and deposit restrictions. These employees may need to recuse themselves from certain supervisory work based on:
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Their borrowing relationships (Appendix B Parts I.1, II.1 and II.2)
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If a financial institution employs a member of the employee’s immediate family (i.e. spouse, child, parent, or sibling) (Appendix B Part I.3 and Part II.3)
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If the individual was employed by the financial institution or affiliate within the past 12 months (Appendix B Part I.3 and II.3).
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In certain cases, the recusal may be so extensive it could materially reduce the effectiveness of the prospective employee’s job responsibilities.
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The hiring range of the Examiner – LFI – Int. is $84,500 – $105,600 annually. (3+ years’ experience)
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The hiring range of the Examiner – LFI – Sr. is $119,700 – $149,600 annually. (5+ years’ experience)
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The hiring range of the Examiner – LFI – Adv. is $133,200 – $166,500 annually. (9+ years’ experience)
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Salary offered will be based on the job responsibilities and the individual’s knowledge, skills, and experience as defined in the job qualifications.
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Interested candidates are strongly encouraged to apply by May 26th, 2023. Afterwards, applications will be reviewed on a rolling basis.
Full Time / Part Time
Full time
Regular / Temporary
Regular
Job Exempt (Yes / No)
Yes
Job Category
Bank Examination
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.