Corporate Function Specialist - Complex Financial Institutions

Job details

• Salary:  Competitive
• Location: New York < NY < USA
• Job Type: Permanent, Full time
• Company:  Federal Reserve Bank of New York
• Posted on: 16 Feb 14

See job description for details
Institutional Overview :

The supervisory team is looking to augment its onsite team with a Corporate Functions Specialist with background in bank supervision to help develop our supervisory program for insurance and lead various efforts in regards to recovery and resolution, risk management, corporate governance and interactions with other supervisors. A description of the main job responsibilities is provided below.

Job responsibilities:

• Assess recovery and resolution plans. Develop an understanding of external organizational core businesses, material legal entities, critical functions and interdependencies; coordinate as needed with the FDIC, functional regulators, Policy and the Board Governors to assess the adequacy of the plans.
• Work with U.S. and foreign functional supervisors and the Board of Governors to develop and implement the 2014 Supervisory College and Crisis Management Group (CMG) for external organization. On an ongoing basis, work to build relationships and strengthen relationships with other supervisors and develop policies on information sharing; identify gaps/overlaps in supervision.
• Develop an understanding of external financial institution's key risks and risk management framework (e.g., policy framework, risk appetite and limit structure; governance framework for managing key risks, etc.) Support the ongoing supervision of internal audit, operational and technology risks.
• Review Board of Director Committee materials (e.g. Audit and Risk Committees) and other key MIS to develop an understanding the firm’s framework for strategic and financial planning.
• Work with Risk and FRBNY Legal to monitor developments in compliance and material litigation. As required, support applications processing and supervisory oversight of compliance.
• On a go forward basis, support the development of supervisory policy for insurance and help to develop/implement a plan to evaluate corporate processes as required by the Dodd-Frank Act (e.g., capital planning and stress testing, incentive compensation, etc.).

Qualifications:
Job Requirements:

• The critical thinking skills, versatility and flexibility to engage in a broad range of supervisory issues.
• Strong organizational, time management and project management skills to deal effectively with multiple initiatives simultaneously.
• Strong collaboration skills given the need to work closely with colleagues (i.e., Other Corporate Function and Risk Specialists, Business Line specialists, Financial Analysts) and other external stakeholders (e.g., other domestic and international supervisors, FRBNY, Board staff and Legal).
• Strong writing and presentation skills, with an ability to demonstrate confidence, diplomatic skills and influence.
• Occasional travel may be required.

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.

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