19 days old

Governance and Controls Senior Associate - Supervision Group

Federal Reserve Bank (FRB)
New York, NY 10007
  • Job Code
    262247

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 Supervision Group at the Federal Reserve Bank of New York supervises and regulates financial institutions in the Second District. The Group's mission is to ensure a safe, sound, and accessible financial system. Staff in the Group assess the safety and soundness of domestic banking institutions, operations of foreign banking organizations, systemically important banks and nonbanks including financial market utilities and significant service providers in the District. These efforts are achieved through onsite assessments and offsite analysis and surveillance. The Group identifies emerging supervisory risks, develops cross-firm perspectives and develop domestic and international supervisory policy

The Large and Foreign Banking Organization (LFBO) Function within the Supervision Group at the Federal Reserve Bank of New York is responsible for monitoring and assessing the safety and soundness of Second District firms that are domestic or foreign-owned with U.S. operations over $100 billion in assets, excluding the Large Institution Supervision Coordinating Committee (LISCC) firms. This is accomplished through system horizontal reviews, target examinations and continuous monitoring programs.

The Governance and Controls (G&C) Senior Associate on the Dedicated Supervisory Team (DST) is responsible for monitoring and assessing governance and controls practices, including board effectiveness, management of business lines, and independent risk management and controls. The G&C Senior Associate will lead and/or participate in the development and execution of business line and independent risk management and controls reviews, in collaboration with DST members and risk specialists, in the areas of governance, strategy, risk management, and business line accountability. The G&C Senior Associate will also lead and/or participate in the development and execution of activities to evaluate board effectiveness. The G&C Senior Associate reports to the DST's CPC, with day-to-day activities overseen by the DST's Deputy CPC/G&C Lead.

Your role as Governance and Controls Senior Associate :

  • Lead and/or contribute to evaluation of the adequacy of governance and controls practices across one or more of the firm's major business lines and independent risk management and control functions, through monitoring and examination activities, with a focus on:
    • Governance: Ensure senior management maintains an effective risk management framework, and enables and enforces prudent risk taking behaviors and business practices.
    • Strategy: Confirm business line activities are executed consistent with the firm's strategy and risk appetite.
    • Risk Management: Ensure that inherent risk is comprehensively identified and measured, and that this information is provided to senior management.
    • Business Line Accountability: Evaluate management's ability to ensure employees operate within established policies, act in compliance with applicable laws, regulations, and supervisory expectations.
  • Lead and/or contribute to evaluation of board effectiveness, including through review of board-level reports, MIS packages, and board meeting minutes, and leveraging inputs from CPC and DCPC.
  • Collaborate on and contribute to, or lead, G&C-related internal supervisory assessments and communications to the firm, including quarterly LFBO internal ratings assessments and the Annual Roll-Up, working closely with the DST's Deputy CPC/G&C Lead.
  • Lead and/or participate in regular meetings with firm senior management across business line, independent risk, and control functions to develop comprehensive views of governance and controls practices.
  • Monitor and analyze the firm's management reporting/MIS to identify potential changes in risk profile or strategy.
  • Build and maintain effective communication channels with firm's business line and risk functions to facilitate timely flow of information and the ongoing follow-up and remediation of identified supervisory issues.
  • Build and maintain strong working relationships with other DST members, risk specialists, LFBO System and Board of Governors colleagues, other U.S. bank regulators, and international regulators including the ECB and ACPR to support monitoring and assessment activities and the ongoing follow-up and remediation of identified supervisory issues.
  • Ensure timely and high quality execution of supervisory activities and products in line with LFBO operating procedures.
  • Lead and/or participate in other DST priorities and system-wide LFBO horizontal reviews as needed (e.g., briefing memos, monthly updates, mandated exams, topical horizontal coordinated reviews, cyber horizontal, horizontal capital review, horizontal liquidity review, or other Board of Governors-required reviews).






Posted: 2019-11-23 Expires: 2019-12-22
Sponsored by:
Farm Credit Services of America Logo
Sponsored by:
Bank of America Logo

Featured Jobs[ View All ]

Featured Employers

Before you go...

Our free job seeker tools include alerts for new jobs, saving your favorites, optimized job matching, and more! Just enter your email below.

Share this job:

Governance and Controls Senior Associate - Supervision Group

Federal Reserve Bank (FRB)
New York, NY 10007

Join us to start saving your Favorite Jobs!

Sign In Create Account
Powered ByCareerCast