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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 Large FBO Department in the LFBO Function supervises the U.S. Operations of large foreign financial institutions with varying levels of complexity and, accordingly, are subject to different supervisory programs and applicable regulatory guidance. All the firms, however, are currently subject to requirements as outlined in Regulation YY- Enhanced Prudential Standards ("EPS") for Bank Holding Companies and Foreign Banking Organizations and the Federal Reserve's Consolidated Supervision Framework, outlined in SR 12-17. The department is organized along three large teams, each focusing on the comprehensive supervision of a group of institutions.
Your role as Governor and Controls Examiner : You will report to the responsible Supervisory Manager (SM) within the Large FBO Department in the LFBO function.
Support the implementation of the supervisory plan, which includes the annual ROCA exams, risk-focused horizontal reviews, targeted reviews of key business lines, continuous monitoring meetings, and the annual Combined U.S. Operations (CUSO) rollup assessments. Monitor the firm for its remediation progress against an OFAC Sanctions Cease & Desist Enforcement Action.
Other primary U.S. based regulatory authorities for these two firms include the NYSDFS and FINRA/SEC. The ECB and French ACPR act as the home-country authorities.
Work with the SM, teammates, and with cross-functional teams responsible for evaluating various aspects of both institution's risk management capabilities and financial condition; synthesize these assessments; and develop and implement the appropriate supervisory actions to address any areas of weakness or knowledge gaps.
The aforementioned responsibilities will be carried out through the SM's leadership and within the context of the Natixis-CA team of three dedicated associates, who possess a broad range of industry and technical expertise.
Assist the SM and team in understanding and managing information and key messaging between the supervisory team and the senior leadership of the firms, including to the respective Group executive management and their U.S. Risk Committees.
The combined effect of these activities will result in a reasonably deep and nuanced understanding of these firms, clear supervisory communication, and an agreed upon supervisory program for prompting the firm to address matters that require attention.
Qualifications: What we are looking for:
Master's degree or CFA (preferred but not required), with 5 years of proven professional experience and demonstrated leadership, management, and banking and/or banking supervision experience; working knowledge of financial industry/bank accounting, financial analysis, financial market/investment banking instruments, advisory services and risk management is a plus, but not necessary;
Experience/knowledge of large financial institution supervision, FBO supervision (preferred), applicable Supervisory Letters with a focus on SR 12-17, Regulation YY and Enhanced Prudential Standards, and FBO Tailoring. Strong preference for a Board Commissioned Examiner.
Well-articulated communication competency to support analysis and assessments, which will be the basis of influencing and persuade senior management inside the Bank and the Federal Reserve System;
Strong critical thinking skills and the ability to connect data/information to develop themes to arrive at sound supervisory judgments;
Ability to synthesize large amounts of information and complex ideas and explain them clearly;
Strong understanding of the supervisory processes and standards and self-management as evidenced by self-initiative and ownership of assignments and production of results under time constraints within rapidly evolving priorities;
Strong coordination/collaboration skills and the ability to build effective working relationships within Supervision and with external stakeholders. This role will involve interaction with other members of the team, colleagues on other teams in LFBO, including risk partners, a variety of other stakeholders in Supervision, Federal Reserve Bank of NY, Federal Reserve System, and other regulatory authorities in the United States and in Europe;
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.
The successful candidate for this position will be considered a senior examiner and subject to the postemployment restriction under the Federal Reserve SR Letter 05-26. An examiner who served as a senior examiner for a state member bank, bank holding company, or foreign bank for two or more months during the examiner's final twelve months of employment with a Reserve Bank is prohibited from knowingly accepting compensation as an employee, officer, director, or consultant from that institution or from certain related entities. For further information on the prohibition, please contact the FRBNY Ethics Office.
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.