Federal Reserve Bank
Risk Specialist I / II / Senior
Federal Reserve Bank, Cleveland, Ohio, us, 44101
Company
Federal Reserve Bank of Cleveland
The Federal Reserve Bank of Cleveland is part of the nation’s central bank, and we’ve provided many opportunities for professional growth during our history.
For twenty-five years in a row, we’ve been named “One of Northeast Ohio’s Best Places to Work” by North Coast 99. This prestigious award honors organizations with outstanding employment practices, including compensation, benefits, training, recruitment, retention, community services, and employee communications.
Our People Make the Difference! The Federal Reserve Bank of Cleveland is seeking innovative thinkers with vision to build the framework that will carry the Bank into the future.
Follow us on LinkedIn, X, Instagram, and our YouTube channel – Cleveland Fed
Supports the Federal Reserve`s mission of financial system stability. An individual in this position is as an integral member of the risk discipline team. Serves as an assisting examiner, and at times, as examiner-in- charge or in-charge lead risk specialists, for supervisory activities at moderate, noncomplex to large/complex supervised bank/financial/savings loan holding companies and their subsidiaries. Also, may participate on national horizontal reviews. Assignments include execution of supervisory reviews and continuous monitoring activities focused on the effectiveness of risk identification, risk management and governance practices for risk discipline. Ensures supervised institutions are in compliance with applicable laws, regulations, and policy statements. Supports gathering of cross firm and banking industry/system risks and developments to understand and build perspectives on micro (institution -specific), horizontal (industry wide/peer) and macro (financial system supervision) risks and vulnerabilities. Participates on projects, outreach, and training.
Essential Job Responsibilities
Leads or participates on cybersecurity and/or financial technology related examinations to determine the effectiveness of a FIs cyber security program and validate their remediation efforts of identified issues.
Leads or participates on Federal Reserve System and local cybersecurity initiatives related to training, committees and development of policy statements to enhance the supervision of FIs
Perform continuous monitoring across the FI portfolio to understand micro (institution specific), horizontal (industry wide/peer), and macro (financial system supervision) cybersecurity risks.
Prepares informative, well supported supervisory products and work papers, effectively communicating complex and problematic supervisory findings and required actions to senior management and board of directors.
Prepare supervisory plans for relevant and effective risk-based supervision factoring in the size and complexity of the target firm.
Prepares and delivers written analyses and presentations on FI specific and industry trends or emerging risk.
Analyze information and determine an estimated risk and potential impact to the financial institutions and financial services industry.
Develop and maintain ongoing relationships with supervisory personnel at the Board of Governors and Reserve Banks, across other regulatory agencies, as well as senior management and directors of FIs to ensure strong communication of supervisory expectations.
Maintain a global awareness of relevant regulations, laws, emerging issues, trends, and ongoing developments in the financial service.
Education and Experience
Risk Specialist I: Bachelor's Degree and 5+ years of related work experience required.
Risk Specialist II: Bachelor’s Degree and 7+ years of related work experience required.
Risk Specialist Sr: Bachelor’s Degree and 10+ years of related work experience
Commission certification preferred
Knowledge and Skills Area
Expert knowledge of regulations, procedures and practices of bank examination
Advanced ability to perform independent research
Advanced knowledge of project management
Intermediate knowledge of Microsoft Office
Expert problem solving and analytical
Expert specialized operational/technical skills in specialty area
Advanced written and verbal communication
Advanced presentation
Advanced public speaking
Advanced strategic thinking/planning
Citizenship requirements
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.
Physical Demands and General Working Conditions
This is not necessarily an exhaustive list of all responsibilities, duties, performance standards or requirements, efforts, skills or working conditions associated with the job. While this is intended to be an accurate reflection of the current job, the Federal Reserve Bank of Cleveland reserves the right to revise this or any job description at any time.
Reasonable Accommodation Statement
-
The Federal Reserve Bank of Cleveland is committed to ensuring that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, perform essential job functions, and receive other benefits and privileges of employment. To request a reasonable accommodation for any part of the employment process, please send an email to clev.4d.benefits.specialist@clev.frb.org .
Schedule and Travel requirements
Hybrid schedule with 2-3 days in office within District (Cleveland, Cincinnati or Pittsburgh)
Travel 25-30% with some overnight
Bank’s Ethics Rules and Drug Testing
:
As a condition of employment, Federal Reserve Bank of Cleveland employees must comply with the Bank’s ethics rules which generally prohibit employees, their spouses/domestic partners, and minor children from owning or controlling, directly or indirectly, any debt or equity interest in a depository institution or an affiliate of a depository institution. A "depository institution" means a bank, a trust company, or any institution that accepts deposits, including a bank chartered under the laws of a foreign country. In addition, employees (and their spouses/domestic partners, and minor children) may not own shares of mutual funds, unit investment trusts or ETFs that have a policy, as stated in the prospectus, of concentrating in the financial services industry and that have underlying investments in banks or other depository institutions. If you or your spouse/domestic partner or minor child own such securities and would not be willing or able to divest them if you accepted an offer of Bank employment, you should raise this issue with the recruiter for this posting.
In addition, as a condition of employment, candidates must undergo a background check and will be tested for all controlled substances prohibited by federal law, to include marijuana, prior to hire and for certain safety sensitive positions during employment.
Always verify and apply to jobs on
Federal Reserve System Careers (https://rb.wd5.myworkdayjobs.com/FRS?hiringCompany=7186c32a743f011afe26afcaaf01190c)
or through verified Federal Reserve Bank social media channels
Full Time / Part Time
Full time
Regular / Temporary
Regular
Job Exempt (Yes / No)
Yes
Job Category
Bank Examination
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.
Always verify and apply to jobs on Federal Reserve System Careers ( https://rb.wd5.myworkdayjobs.com/FRS ) or through verified Federal Reserve Bank social media channels.
Privacy Notice (https://www.kansascityfed.org/documents/7797/Workday_Privacy_Notice.pdf)
Federal Reserve Bank of Cleveland
The Federal Reserve Bank of Cleveland is part of the nation’s central bank, and we’ve provided many opportunities for professional growth during our history.
For twenty-five years in a row, we’ve been named “One of Northeast Ohio’s Best Places to Work” by North Coast 99. This prestigious award honors organizations with outstanding employment practices, including compensation, benefits, training, recruitment, retention, community services, and employee communications.
Our People Make the Difference! The Federal Reserve Bank of Cleveland is seeking innovative thinkers with vision to build the framework that will carry the Bank into the future.
Follow us on LinkedIn, X, Instagram, and our YouTube channel – Cleveland Fed
Supports the Federal Reserve`s mission of financial system stability. An individual in this position is as an integral member of the risk discipline team. Serves as an assisting examiner, and at times, as examiner-in- charge or in-charge lead risk specialists, for supervisory activities at moderate, noncomplex to large/complex supervised bank/financial/savings loan holding companies and their subsidiaries. Also, may participate on national horizontal reviews. Assignments include execution of supervisory reviews and continuous monitoring activities focused on the effectiveness of risk identification, risk management and governance practices for risk discipline. Ensures supervised institutions are in compliance with applicable laws, regulations, and policy statements. Supports gathering of cross firm and banking industry/system risks and developments to understand and build perspectives on micro (institution -specific), horizontal (industry wide/peer) and macro (financial system supervision) risks and vulnerabilities. Participates on projects, outreach, and training.
Essential Job Responsibilities
Leads or participates on cybersecurity and/or financial technology related examinations to determine the effectiveness of a FIs cyber security program and validate their remediation efforts of identified issues.
Leads or participates on Federal Reserve System and local cybersecurity initiatives related to training, committees and development of policy statements to enhance the supervision of FIs
Perform continuous monitoring across the FI portfolio to understand micro (institution specific), horizontal (industry wide/peer), and macro (financial system supervision) cybersecurity risks.
Prepares informative, well supported supervisory products and work papers, effectively communicating complex and problematic supervisory findings and required actions to senior management and board of directors.
Prepare supervisory plans for relevant and effective risk-based supervision factoring in the size and complexity of the target firm.
Prepares and delivers written analyses and presentations on FI specific and industry trends or emerging risk.
Analyze information and determine an estimated risk and potential impact to the financial institutions and financial services industry.
Develop and maintain ongoing relationships with supervisory personnel at the Board of Governors and Reserve Banks, across other regulatory agencies, as well as senior management and directors of FIs to ensure strong communication of supervisory expectations.
Maintain a global awareness of relevant regulations, laws, emerging issues, trends, and ongoing developments in the financial service.
Education and Experience
Risk Specialist I: Bachelor's Degree and 5+ years of related work experience required.
Risk Specialist II: Bachelor’s Degree and 7+ years of related work experience required.
Risk Specialist Sr: Bachelor’s Degree and 10+ years of related work experience
Commission certification preferred
Knowledge and Skills Area
Expert knowledge of regulations, procedures and practices of bank examination
Advanced ability to perform independent research
Advanced knowledge of project management
Intermediate knowledge of Microsoft Office
Expert problem solving and analytical
Expert specialized operational/technical skills in specialty area
Advanced written and verbal communication
Advanced presentation
Advanced public speaking
Advanced strategic thinking/planning
Citizenship requirements
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.
Physical Demands and General Working Conditions
This is not necessarily an exhaustive list of all responsibilities, duties, performance standards or requirements, efforts, skills or working conditions associated with the job. While this is intended to be an accurate reflection of the current job, the Federal Reserve Bank of Cleveland reserves the right to revise this or any job description at any time.
Reasonable Accommodation Statement
-
The Federal Reserve Bank of Cleveland is committed to ensuring that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, perform essential job functions, and receive other benefits and privileges of employment. To request a reasonable accommodation for any part of the employment process, please send an email to clev.4d.benefits.specialist@clev.frb.org .
Schedule and Travel requirements
Hybrid schedule with 2-3 days in office within District (Cleveland, Cincinnati or Pittsburgh)
Travel 25-30% with some overnight
Bank’s Ethics Rules and Drug Testing
:
As a condition of employment, Federal Reserve Bank of Cleveland employees must comply with the Bank’s ethics rules which generally prohibit employees, their spouses/domestic partners, and minor children from owning or controlling, directly or indirectly, any debt or equity interest in a depository institution or an affiliate of a depository institution. A "depository institution" means a bank, a trust company, or any institution that accepts deposits, including a bank chartered under the laws of a foreign country. In addition, employees (and their spouses/domestic partners, and minor children) may not own shares of mutual funds, unit investment trusts or ETFs that have a policy, as stated in the prospectus, of concentrating in the financial services industry and that have underlying investments in banks or other depository institutions. If you or your spouse/domestic partner or minor child own such securities and would not be willing or able to divest them if you accepted an offer of Bank employment, you should raise this issue with the recruiter for this posting.
In addition, as a condition of employment, candidates must undergo a background check and will be tested for all controlled substances prohibited by federal law, to include marijuana, prior to hire and for certain safety sensitive positions during employment.
Always verify and apply to jobs on
Federal Reserve System Careers (https://rb.wd5.myworkdayjobs.com/FRS?hiringCompany=7186c32a743f011afe26afcaaf01190c)
or through verified Federal Reserve Bank social media channels
Full Time / Part Time
Full time
Regular / Temporary
Regular
Job Exempt (Yes / No)
Yes
Job Category
Bank Examination
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.
Always verify and apply to jobs on Federal Reserve System Careers ( https://rb.wd5.myworkdayjobs.com/FRS ) or through verified Federal Reserve Bank social media channels.
Privacy Notice (https://www.kansascityfed.org/documents/7797/Workday_Privacy_Notice.pdf)