Sr. Risk Specialist, Large Institution Supervision
Federal Reserve Bank of San Francisco
Location: San Francisco, California
Type: Full Time
4 Year Degree
Internal Number: R-0000012686
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.
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.
Do you have a passion for bank supervision, risk management, audit, and controls? We welcome those Sr. Risk professionals seeking to join our premier public service organization. If this is you, please read about this exciting opportunity!
The Supervision + Credit group is responsible for the supervision and regulation of state member banks (SMBs), bank holding companies, savings and loan holding companies, financial holding companies, data service providers, trust companies, and foreign banking organizations that operate in the Twelfth District. Supervised institutions are in all states of the District and range in size and complexity from small community organizations to some of the largest banking organizations in the country.
The Wells Fargo & Co. (WFC) Dedicated Supervisory Team (DST), which operates as part of the Federal Reserve’s Large Institution Supervision Coordinating Committee (LISCC) supervisory program covering the largest and most systemic financial institutions, has an opening for a Capital Markets Senior Risk Specialist. As a member of our team, you will lead the supervision of WFC capital markets-related activities, including market risk elements (e.g., corporate treasury governance and management of interest rate risk, investment securities, trading products, counterparty exposures, and data & reporting.) In addition, you will assess practices across WFC’s three lines of defense: front line, independent risk management, and internal audit. The position will report to the WFC DST Capital Team Lead, with responsibility for ensuring that supervisory monitoring and examinations result in timely, credible, and well-supported assessments of firms’ capital planning practices and financial risk management and controls. You are expected to collaborate with other members of the DST, constituents within the Federal Reserve (FR) System, and fellow regulators.
At the Federal Reserve Bank of San Francisco, we believe in fostering a culture that values the diversity of our people, ideas, and experiences. Are you interested in playing a lead role in supervising one of the largest and most systemic financial institutions in the U.S.? Are you interested in an exciting opportunity to use your capital markets expertise while working in a collaborative environment? If yes – then read on!
Monitor and evaluate the governance and risk management practices of Capital Market-related activities, which include the following:
Identification, measurement, management, and control of financial risks (e.g., interest rate risk, other comprehensive income risk) and other risks such as data & reporting, either emerging or long-standing.
Corporate Treasury functions, Trading functions and attendant Counterparty Credit risks in conjunction with other WFC DST capital team members.
Independent Risk oversight and Internal Audit practices related to capital market and investment activities.
Remediation of key issues/deficiencies.
Lead or assist in the supervision of mortgage servicing rights risk management.
Lead or participate in examination and monitoring activities.
Provide periodic internal FR reporting and ad hoc briefings of supervisory results including exam conclusions, emerging risks, key trends, and risk profile updates.
Communicate supervisory findings to WFC and guide management in addressing key deficiencies.
Support the DST in developing the team’s supervisory strategy, plan, and annual assessment report as well as other key initiatives.
Assist in cross-firm reviews by the FR system; leverage horizontal perspectives in developing tailored supervisory approaches for WFC.
Collaborate closely with others on the DST, the broader Federal Reserve (FR) system, and other regulators, including the Office of the Comptroller of the Currency.
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.
Typically 7 years of experience with the financial institution capital markets (e.g., Treasury, Trading) function at a large financial institution, regulatory agency or management consulting firm, or an equivalent combination of the required education and experience. (Bachelor’s degree in business, finance, accounting, or related fields)
Ability to travel at least 15 percent.
Confirmed familiarity with and expertise related to interest rate risk, asset and liability management, investment securities, trading products (e.g., equities, rates, FX, commodities, securitized products), market risk management and attendant counterparty risk.
Well-developed influence, collaboration, and communication skills (verbal and written). Key behavioral proficiencies include but are not limited to:
Critical Thinking: Possess the intellectual curiosity and learning capabilities to get up to speed quickly. Able to frame the question correctly, identify non-obvious connections, and develop innovative solutions.
Collaboration: Break down barriers, share and solicit input, facilitate cross-functional collaboration.
Influence: Tailor approaches to different key collaborators. Build coalitions in support of the best ideas and achieve agreement.
Flexibility: Handle ambiguity well. Excel in projects with limited to no management guidance. Able to adapt to changing workflow or directions.
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.
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.