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At the Federal Reserve Bank of New York, the work we do is consequential and challenging. Our environment encourages growth and diversity. Our employees flourish in a team-oriented atmosphere and are dedicated to the important mission of the New York Fed.
What we do:
The Bank Applications Function of the Legal Group is responsible for coordinating, analyzing, evaluating, and recommending Federal Reserve action on a variety of regulatory applications filed by domestic and foreign banking organizations under the Bank Holding Company Act, the Bank Merger Act, and other relevant laws and regulations, including applications for mergers and acquisitions, foreign investments, non-banking activities, and the establishment of domestic and foreign offices. The Function ensures that applications are complete and meet various supervisory, legal, and policy requirements. The Function also assists with formulating Federal Reserve policy relating to applications matters. In addition, the Function educates the banking community (both local and foreign) about laws, regulations, and policies relating to mergers, acquisitions, and expansionary activities and assists in proposing amendments to applicable laws, regulation and policies.
Your role as Bank Applications Senior Associate:
Process and analyze for informational adequacy and supervisory and legal sufficiency complex applications received from banking institutions in connection with mergers and acquisitions, the acquisition of banks by bank holding companies, the establishment of domestic and foreign bank branches, and other changes in the activities and organizational structures of banking institutions;
Perform background research on banking institutions and their activities and proposals;
Communicate with applicants and their counsel to provide advice on the applications process and request additional information on applications;
Write memoranda recommending action on applications. Draft related internal and external applications correspondence, memos, and meeting minutes;
Monitor and meet statutory, regulatory, and internal deadlines for applications processing;
Coordinate with other Bank staff, including lawyers in the Legal Group, examiners and financial analysts in the Supervision Group, and economists in the Research Group, to obtain opinions on required factors for reviewing applications;
Work closely with Board of Governors staff to coordinate information requests and to provide recommendations in connection with applications processed for Board action;
Coordinate the sharing of applications-related information with other regulatory agencies;
Participate in special projects as needed, including various System-wide initiatives related to bank applications;
Maintain appropriate files, logs, and reports.
What we are looking for:
A minimum of 7-10 years of related work experience.
Bachelor`s degree or Master`s degree, preferably in finance, accounting, economics, public policy, law, or a related field;
Strong understanding of business and financial concepts and ability to read financial statements and reports;
Strong knowledge of Federal and State banking laws, regulations, and policies preferred;
Strong ability to analyze and interpret financial information and legal documents
Excellent research and analytical skills;
Demonstrated ability to show initiative;
Excellent organizational and self-management skills, including the ability to manage and meet statutory deadlines and the ability to handle multiple assignments in an independent manner;
Excellent verbal and written communication and interpersonal skills;
Ability to work both in teams and independently; and
Ability to use and learn various PC and internet-based software applications, with a proficiency in Word.
This position requires access to confidential 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.
The Federal Reserve Bank of New York is committed to a diverse workforce and to providing equal employment opportunity to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, or military service.
Why the Fed: Working at the Federal Reserve Bank of New York positions you at the center of the financial world with a unique perspective on national and international markets and economies. You'll work in an environment with a diverse group of talented professionals to foster and support the safety, soundness, and vitality of our economic and financial systems. It's a challenge that demands the skills of a financial services professional and the intellectual curiosity of an academic—all combined with a passion for public service.
The Federal Reserve Bank of New York is committed to a work environment that respects and fully values the strengths and differences of its people. Working at the New York Fed provides talented professionals the chance to grow their skills at an institution that has served a critical role in the financial system of the United States and the world for over a century. An important component of the Bank's diversity effort is our partnership with several professional non-profit organizations, including INROADS, JumpStart Advisory Group, NBDC Emerging Leaders, Seizing Every Opportunity, National Black MBA, Out for Undergrad, Prospanica and Reaching Out MBA. Click here to learn more.