Job description
Company
Federal Reserve Bank of Dallas
We are dedicated to serving the public by promoting a strong financial system and a healthy economy for all. These efforts take a team of dedicated individuals doing many different jobs. Together we’re creating a workplace where talented people can thrive, and we welcome your unique background and perspective to help present the best possible solutions for our partners.
Location: #LI-Hybrid
About the Role:
We have an exciting opportunity for a qualified individual to serve on the FRBD’s dedicated supervisory team for The Charles Schwab Corporation (CSC). As the Director of Examinations, you will play a key role in the execution of a strong supervisory program for CSC.
As part of the Federal Reserve’s Large Foreign Banking Organization (LFBO) program, you will report directly to the AVP responsible for supervision of CSC. In this role, you will manage a team of risk specialists and commissioned examiners responsible for assessing CSC’s financial resiliency, including capital and liquidity planning and positions. In addition, the position will manage staff assessing the Broker/Dealer and Trust business lines. As well, the Financial Resiliency team will contribute to the assessment of governance and controls under the Federal Reserve’s Large Financial Institution Ratings Framework. As a growing firm within the LFBO portfolio, CSC is a Category III firm subject to the Dodd-Frank Act Enhanced Prudential Standards and the Capital Plan Rule. The successful candidate will have the opportunity to be exposed to the development of, and directly supervise, emerging activities in an assessment of the firm’s continued safety and soundness within the financial industry, across all three lines of defense.
In addition to managing this team, the role also requires individual contributions. Specifically, this position will lead critical team processes, such as annual supervisory assessments and supervisory planning, lead supervisory reviews, and participate in supervisory activities conducted by other dedicated team members. The manager will need to make informed judgments about the firm’s safety and soundness, resiliency, and compliance with laws and regulations. As such, a deep understanding of the Consolidated Supervision Framework for Large Financial Institutions outlined in SR Letter 12-17 is required. This Director of Examinations should also be familiar with the Large Financial Institutions (LFI) Ratings Framework outlined in SR Letter 19-3, as well as any other applicable guidance, since these are key responsibilities of a manager on a dedicated supervisory team. This position provides a forward-thinking individual an opportunity to help build, direct, and lead a team of five direct reports in a fast-paced environment, where the Federal Reserve’s LFI rating system and supervisory approach to large bank holding companies is evolving in alignment with SR Letter 12-17.
This role is considered an internal rotational position of generally five years with the expectation that you would remain in the role for a minimum of three years.
You Will:
You Will:
- Own the final assessments of the FR’s financial resiliency pillars of Capital and Liquidity and use knowledge of relevant areas of the firm and results of supervisory reviews to draw sound conclusions and support an overall rating.
- Develop and execute a strong risk-focused supervisory program for capital and liquidity planning and positions in accordance with the LFBO Management Group’s program requirements.
- Define, direct, and conduct ongoing risk-focused supervisory activities, including leading routine meetings with CSC management to develop a deep and broad understanding of the firm’s strategies, risks, and risk management practices.
- Lead critical team processes, including aspects of the annual supervisory assessment and supervisory planning.
- Facilitate open and timely communication with firm management and other key partners (e.g., District management, LFBO Management Group, Board of Governors, Federal reserve Bank of Dallas, Texas Department of Savings and Mortgage Lending, FDIC, among others) to ensure the consideration of the broadest possible perspectives on supervisory issues. Deliver clear supervisory messages that describe where the firm stands relative to supervisory expectations, and an agreed upon program for addressing matters that require attention.
- Manage team activities aimed at identifying material risks, assessing risk management practices, and producing well-supported safety and soundness conclusions.
- Ensure high quality and timely completion of required supervisory work products and perform quality control to ensure compliance with local policies/procedures and System requirements.
- Promote staff development by establishing clear performance goals, providing frequent constructive feedback, and supporting professional talent development.
- Interpret regulatory guidance and evaluate the potential impact on the firm’s safety and soundness.
- Provide coverage during CSC CPC absences; and,
- Manage ad-hoc projects, when assigned.
You Have:
- 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.
- Ten or more years of direct supervisory or comparable banking, financial industry experience.
- Seven or more years of experience in managing/leading teams.
- 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.
- Strong written and verbal communication skills.
- Advanced analytical skills and the ability to apply and explain complex regulatory concepts.
- Experience evaluating a variety of risks facing complex financial institutions, and the ability to identify prudent practices for managing those risks.
- Capacity to pursue multiple initiatives at the same time and deliver successful outcomes.
Our Benefits:
Our total rewards program offers benefits that are the best fit for you at every stage of your career:
- Comprehensive healthcare options (Medical, Dental, and Vision)
- 401K match, and a fully funded pension plan
- Paid vacation, holidays, and volunteer hours; flexible work environment
- Generously subsidized public transportation and free parking
- Annual tuition reimbursement
- Professional development programs, training and conferences
- And more…
Notes:
This position is located in Dallas. All candidates must be prepared to travel for periodic onsite examinations. Relocation benefits also are available.
This position is located in Dallas. All candidates must be prepared to travel for periodic onsite examinations. Relocation benefits also are available.
Employment is contingent upon the selected candidate passing a financial credit check.
This role allows for the employee to work in a hybrid manner with some work conducted onsite at the Federal Reserve work location and some work conducted remotely. Specific schedule details will be discussed during the recruitment process.
This position requires access to confidential supervisory information and/or FOMC 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, and U.S. permanent residents who either are not yet eligible to apply for naturalization or who have applied for naturalization within the requisite timeframe. Candidates who are not U.S. citizens or U.S. permanent residents may be eligible for the information access required for this position and sponsorship for a work visa, and subsequently for permanent residence, if they sign a declaration of intent to become a U.S. citizen and meet other eligibility requirements.
In addition, all candidates must undergo an enhanced background check and comply with all applicable information handling rules, and all non-U.S. citizens must sign a declaration of intent to become a U.S. citizen and pursue a path to citizenship.
The Federal Reserve Bank of Dallas is proud to be an Equal Opportunity Employer that believes in the diversity of our people, ideas and experiences, and we are committed to building an inclusive culture that represents the communities we serve.
If you need assistance or an accommodation due to a disability, please notify your Talent Acquisition Consultant.
Full Time / Part Time
Full time
Regular / Temporary
Regular
Job Exempt (Yes / No)
Yes
Job Category
Work Shift
First (United States of America)
The Federal Reserve Banks believe that diversity and inclusion among our employees is critical to our success as an organization, and we seek to recruit, develop and retain the most talented people from a diverse candidate pool. The Federal Reserve Banks are committed to equal employment opportunity for employees and job applicants in compliance with applicable law and to an environment where employees are valued for their differences.
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