While the SF Fed is a Reserve Bank, we’re not what you might expect. We’re unreserved here. That means we seek new and diverse perspectives. We spark conversations and encourage debate. We build opportunity. We pursue careers that are true to ourselves. We are looking for people who want to help our country reach its full economic potential. When you join the SF Fed, you join a team of people working together to promote an inclusive economy that works for everyone.
The SF Fed’s Supervision and Credit (S+C) Division supervises financial institutions and service providers to financial institutions in the western United States. Our mission is to ensure a safe, sound, and accessible financial system. The Large Institutions Supervision (LIS) and Technology Service Provider (TSP) Risk team within the Risk, Policy and Analysis group provides subject matter expertise to S+C for the monitoring and assessment of safety and soundness of large domestic banking institutions, the U.S. operations of foreign banking organizations, and significant bank service providers in the District. These 12th District firms include Charles Schwab Corporation, Mitsubishi UFJ Financial Group, Silicon Valley Bank, and Visa.
LIS TSP Risk members also participate in supervisory activities in other Districts across the Federal Reserve System (FRS), including a wide range of horizontal (cross-firm) reviews. In addition, members may conduct outreach activities and provide training within the supervisory community and to industry groups, as well as contribute to various FRS risk monitoring and coordination groups, and the development of related supervisory strategies and examination procedures.
The Senior Operational Risk Specialist is responsible for providing subject matter expertise and direct assistance to supervisory teams by conducting assessments of operational risk and related areas at a range of large banking organizations. This includes supporting risk assessments and all aspects of examinations, as well as providing advisory support. The primary areas of focus for this position include: assessing the effectiveness of firms’ operational risk management, including assessing the effectiveness of the three lines of defense; operational risk business processes; risk aggregation; operational risk appetite, measurement, reporting, and control; the adequacy of controls around new business initiatives and new product development; the adequacy of vendor and third-party risk management and risk control self-assessments; and continuity of operations. The successful candidate will interact with individuals throughout the supervisory community, including other operational risk specialists, and banking institution management and staff, and will report directly to the LIS TSP Risk Manager.
The Senior Operational Risk Specialist is expected to work closely in a collaborative manner with a variety of stakeholders (other risk specialists across the System, and risk examiners from other supervisory agencies) to identify and monitor emerging issues, trends, vulnerabilities, and ongoing developments in the continuous assessment of operational risk and resilience activities. Responsibilities include:
Maintaining an advanced level of expertise in operational risk management, including relevant regulatory developments, including a deep understanding of current industry trends and practices, effective risk measurement and management practices, and emerging concerns that may impact the firms’ risk profile.
Leading and participating on examination events (horizontal and firm-specific) that assess firms’ operational risk management capabilities.
Engaging System and Division risk groups to consider broader perspectives and producing safety and soundness conclusions.
Supporting the development and production of routine operational risk reporting that summarizes emerging risks and trends across the LIS portfolio.
Monitoring regulatory matters requiring attention, including preparation of quarterly status updates, and determining when regulatory matters requiring attention at LIS portfolio firms are ready for validation of completed remediation.
Collaborating with dedicated supervisory team members and technical experts within and across the LIS program to identify emerging issues (internal and external) and assessing the efficiency of LIS firms’ ability to identify emerging risks.
Enabling strong interagency coordination through collaborative work with other supervisors (i.e., OCC, FDIC, FINRA, SEC) along with partners such as (i.e., within the division, Board of Governors) to maintain information flow and champion positive relationships with other regulators.
Communicating effectively with staff and management on developments in operational risk and resilience through periodic written and verbal briefings. Written and verbal communications must be clear and concise, focused on root-cause analysis, be conclusion-oriented, well-supported, and consistent with regulatory standards. Explaining complex risk issues and concepts effectively is critical to this position.
Ensuring timely delivery of high-quality work products, and running ad-hoc projects, when assigned.
This position requires access to confidential supervisory information, which is limited to “Protected Individuals.” Protected Individuals include, but are not limited to, U.S. citizens and 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 or who will sign a declaration of intent to apply for naturalization before they begin employment.
Bachelor’s degree in business administration, finance, economics, or other related field is required; advanced degree is preferred.
An active examiner commission from a federal or state banking supervisory agency or the relevant experience and training required for entry into Interim Examiner Commissioning Program for Large Financial Institution Supervision.
Typically, seven or more years of direct supervisory or comparable banking, financial industry experience.
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) is preferred.
Experience evaluating a variety of risks facing complex financial institutions, and the ability to identify prudent practices for managing those risks.
Advanced analytical, written and verbal communication skills. Ability to synthesize high volumes of information to formulate well-supported and concise views.
Confidence to effectively communicate complex/sensitive issues, analysis, and supervisory concerns.
Initiative and follow through on directions with minimal supervision.
Ability to recognize situations where deviation from the original direction is appropriate. Timely decision-making assessments with limited information are important in this environment.
Ability to work collaboratively and cultivate good working relationships with colleagues and other regulatory agencies is pivotal.yt'v
Capacity to pursue multiple initiatives at the same time and deliver successful outcomes.
Ability to travel at least 20 percent, and a consistent track record of performance in technical and behavioral competencies. Primary behavioral competencies to be evaluated include: Leadership, Emotional Intelligence, Critical Thinking, Accountability, Collaboration, Development, Influence, and Innovation.
All employees must be fully vaccinated against COVID-19 or qualify for an accommodation from the Bank’s vaccination policy; the Bank will provide accommodations as required by law for individuals unable to be vaccinated due to medical condition or sincerely held religious belief.
We offer a wonderful benefits package including: Medical, Dental, Vision, Pre-tax Flexible Spending Account, Backup Child Care Program, Pre-Tax Day Care Flexible Spending Account, Paid Family Care Leave, Vacation Days, Sick Days, Paid Holidays, Pet Insurance, Matching 401(k), and a Retirement / Pension.
We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment.
At the SF Fed, we believe in the diversity of our people, ideas, and experiences and are committed to building an inclusive culture that is representative of the communities we serve. The SF Fed is an Equal Opportunity Employer.
While the SF Fed is a Reserve Bank, we’re not what you might expect. We’re unreserved here. That means we seek new and diverse perspectives. We spark conversations and encourage debate. We build opportunity. We pursue careers that are true to ourselves, from economists and cash processors to bank supervisors and cloud engineers. When you join the SF Fed, you join a team of people working together to promote an inclusive economy that works for everyone. If that’s the kind of impact you’d like to make with your everyday work, find your next career opportunity here.