Full-Time

Operational Risk Specialist

Confirmed live in the last 24 hours

The Federal Reserve System

The Federal Reserve System

1,001-5,000 employees

Central bank managing U.S. monetary policy

Fintech
Financial Services

Senior

Houston, TX, USA + 2 more

More locations: Dallas, TX, USA | San Antonio, TX, USA

Hybrid role requiring onsite presence at the Federal Reserve work location.

Category
Risk Management
Finance & Banking
Required Skills
Data Analysis
Requirements
  • Bachelor’s degree in business administration, finance, economics, or other related field is required; advanced degree is preferred.
  • Seven or more years of direct supervisory or comparable banking and financial industry experience. An active examiner commission from a federal or state banking supervisory agency is preferred.
  • 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) as well as the CAMELS rating framework.
  • Strong written and verbal communication skills. An ability to listen and communicate clearly, logically, and persuasively at multiple levels in the organization and effectively articulate themes and conclusions both verbally and in writing.
  • Advanced analytical skills and the ability to apply and explain complex regulatory concepts. Strong problem-solving skills that support and enable sound decision-making, and the ability to synthesize large amounts of complex, disparate information to formulate well-supported conclusions and concise views.
  • 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.
Responsibilities
  • Lead the coverage of independent risk management, with a particular focus on operational risk areas and lead or participate in the supervisory assessments of enterprise risk management, board effectiveness, independent risk management, compliance, management of business lines, and internal audit.
  • Act as Examiner-in-Charge of related supervisory events, conduct horizontal and coordinated reviews, and routinely interact with internal and Federal Reserve System (FRS)-level colleagues, other regulators, and the firm’s senior management and staff.
  • Contribute to the assessment of regulatory ratings for G&C as well as risk management and CAMELS.
  • Develop and implement a strong risk-focused supervisory program in accordance with the LFBO Management Group’s program requirements.
  • Define and conduct ongoing risk-focused supervisory activities, including MIS reviews and leading routine meetings with management to develop a deep and broad understanding of the firm’s strategies, risks, and risk management practices. Perform timely and periodic risk analyses to determine the level and trend of risks and identify emerging issues.
  • Develop creative approaches for evaluating coverage areas and related risk management practices relative to peer companies. Devise methods to efficiently incorporate internal and external data into the ongoing supervision process.
  • Deliver clear supervisory messages to management that describes where the firm stands relative to supervisory expectations and required actions for addressing matters that require attention, as applicable.
  • Collaborate with other risk specialists on the team and the Texas Department of Savings and Mortgage Lending (SML) examiners to develop a comprehensive understanding of operational risks.
  • Build and maintain effective working relationships within the team, with peers, within FRBD, FRS, with other regulatory agencies (especially the SML as well as the SEC and FINRA).
  • Demonstrate agility and leadership through the ability to cover other risk topics not specifically captured in primary areas of responsibility, based on team needs.
  • Ensure high quality and timely completion of required supervisory work products and perform quality control to ensure compliance with local policies/procedures and FRS requirements.
  • Interpret regulatory guidance and evaluate the potential impact on the safety and soundness of the firm. Maintain an awareness of potential changes to key rules, laws and regulations, and supervisory policies as applicable.
The Federal Reserve System

The Federal Reserve System

View

The Federal Reserve System serves as the central bank of the United States, playing a crucial role in shaping the nation's economy and ensuring financial stability. It formulates national monetary policy, which involves managing interest rates and money supply to promote economic growth and control inflation. Additionally, the Federal Reserve supervises and regulates banks and bank holding companies to maintain a safe and sound banking system. It also provides essential financial services to banks and the U.S. government. What sets the Federal Reserve apart from other financial institutions is its unique position as a government entity that operates independently to achieve its goals. The primary aim of the Federal Reserve is to foster a strong economy and a stable financial system, ultimately benefiting the public and the global economy.

Company Stage

N/A

Total Funding

N/A

Headquarters

null, null

Founded

1913

Growth & Insights
Headcount

6 month growth

-1%

1 year growth

-1%

2 year growth

-1%
Simplify Jobs

Simplify's Take

What believers are saying

  • Working at the Federal Reserve offers the opportunity to contribute to significant economic policies that impact the global economy.
  • The Fed's diverse and inclusive work environment fosters creativity and innovation, providing room for personal and professional growth.
  • Employees benefit from a high-performance culture with meaningful responsibilities and a strong work-life balance.

What critics are saying

  • The Federal Reserve's involvement in controversial areas like crypto regulation and monetary policy can lead to public scrutiny and pressure.
  • The complexity and scale of its operations may result in slower adoption of new technologies, as seen with the FedNow system.

What makes The Federal Reserve System unique

  • The Federal Reserve System stands out as the central bank of the United States, wielding unparalleled influence over national monetary policy and financial stability.
  • Its role in supervising and regulating banks, alongside providing financial services to the U.S. government, sets it apart from other financial institutions.
  • The Fed's introduction of innovative systems like the FedNow instant payments platform highlights its commitment to modernizing financial services.

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