Federal Reserve Bank of Boston
Operational Risk Specialist, Senior
Federal Reserve Bank of Boston, Boston, Massachusetts, us, 02298
CompanyFederal Reserve Bank of BostonRisk Specialist, Senior
The Senior Risk Specialist is responsible for leading and/or participating in the most complex reviews and examinations that evaluate the effectiveness of risk management practices for large, globally systemic financial institutions under Federal Reserve supervisory authority. As a member of the dedicated supervisory team (DST), this individual will assess risks and the risk management programs of the institution through participation in on-site examinations and regular monitoring practices of business activities to ensure the firm operates in a safe and sound manner, and adheres to applicable banking laws, regulations, and policy statements. The Senior Risk Specialist may also provide leadership or coordinate assistance in support of national supervision program management.
The successful candidate will have proficient technical knowledge in a specialty area (e.g., custody, payments, clearing and settlements, fund accounting, back/middle office operations, risk management, vendor management, operational resiliency, etc.) and familiarity with management information systems and internal controls that can be applied across a range of business activities. A Senior Risk Specialist will also possess advanced knowledge of risk management programs, measurement tools, models, control frameworks, and risk indicators utilized to make decisions on business line risks and enterprise risks for an organization.
This job is eligible for a hybrid schedule with some on-site work expected. The individual is expected to reside in the 1st District unless given an exception. Travel is expected for this role (up to 5%).
Responsibilities:
Successfully lead complex targeted reviews, examinations, or special projects in their specialty area and oversee assigned resources in meeting project, monitoring, or deliverables and timeframes.
Demonstrate strong judgment and well-reasoned decision making in situations that may involve highly complex issues, public scrutiny, market reactions, and potentially adversarial circumstances.
Assist in the preparation of the supervisory strategy and risk assessment for business line related activities and selectively participate in the vetting of scopes and findings related to their particular risk specialty area.
Support the national supervisory program management’s assessments of Large Institution Supervision Coordinating Committee (LISCC) firms’ board of directors, the strength of risk management executed by the firm’s core business lines, and the adequacy of the firm’s independent risk management and controls.
Collaborate with DST Lead/Deputy Leads and examiners-in-charge (EICs), lead and/or participate in risk-focused reviews of functional areas, business line activities or special projects, and provide written observations and findings appropriate for inclusion in supervisory reports.
Evaluate the effectiveness of management and influence their actions through satisfactory relationship management and interpersonal skills including effective negotiation and conflict resolution.
Serve as team and System resource by leading or participating on high-level projects, workgroups, and strategic initiatives. Contribute to the understanding of emerging risk, risk management practices and changes in supervision policies, procedures, tools or guidance on a System basis.
Demonstrate good judgment and well-reasoned decision making in situations that involve complex issues and potentially adversarial circumstances.
Prepare informative, well-supported supervisory products and work papers, effectively communicating complex and problematic supervisory issues and requires actions to senior management and boards of directors.
Maintain a global awareness of relevant regulations, laws, issues, trends and ongoing developments in the financial services industry.
Provide mentoring or training to less experienced staff members and contribute to a positive work environment.
Routinely share knowledge within the DST and program, and function as a team player while demonstrating personal accountability and openness to constructive feedback.
Participate in out-of-district assignments to enhance peer perspective and personal development.
Education and Experience:
A Bachelor’s degree is required, with a concentration in business management, finance, or accounting preferred.
Knowledge and experience normally acquired through, or equivalent to, the completion of a Master's degree and a minimum of 10+ years of commensurate financial industry or regulatory work experience.
Appropriate industry certifications (CFA, CPA, CIA, CRMA) are preferred, but not required.
Other Accountabilities:
Perform other duties as assigned.
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 and holidays; flexible work environment, healthy workflow
Generously subsidized public transportation
Annual tuition reimbursement
Professional development programs, training and conferences
And more…
The Federal Reserve Bank is committed to a diverse, equitable and inclusive workplace and to provide equal employment opportunities to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, or military service.
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The Senior Risk Specialist is responsible for leading and/or participating in the most complex reviews and examinations that evaluate the effectiveness of risk management practices for large, globally systemic financial institutions under Federal Reserve supervisory authority. As a member of the dedicated supervisory team (DST), this individual will assess risks and the risk management programs of the institution through participation in on-site examinations and regular monitoring practices of business activities to ensure the firm operates in a safe and sound manner, and adheres to applicable banking laws, regulations, and policy statements. The Senior Risk Specialist may also provide leadership or coordinate assistance in support of national supervision program management.
The successful candidate will have proficient technical knowledge in a specialty area (e.g., custody, payments, clearing and settlements, fund accounting, back/middle office operations, risk management, vendor management, operational resiliency, etc.) and familiarity with management information systems and internal controls that can be applied across a range of business activities. A Senior Risk Specialist will also possess advanced knowledge of risk management programs, measurement tools, models, control frameworks, and risk indicators utilized to make decisions on business line risks and enterprise risks for an organization.
This job is eligible for a hybrid schedule with some on-site work expected. The individual is expected to reside in the 1st District unless given an exception. Travel is expected for this role (up to 5%).
Responsibilities:
Successfully lead complex targeted reviews, examinations, or special projects in their specialty area and oversee assigned resources in meeting project, monitoring, or deliverables and timeframes.
Demonstrate strong judgment and well-reasoned decision making in situations that may involve highly complex issues, public scrutiny, market reactions, and potentially adversarial circumstances.
Assist in the preparation of the supervisory strategy and risk assessment for business line related activities and selectively participate in the vetting of scopes and findings related to their particular risk specialty area.
Support the national supervisory program management’s assessments of Large Institution Supervision Coordinating Committee (LISCC) firms’ board of directors, the strength of risk management executed by the firm’s core business lines, and the adequacy of the firm’s independent risk management and controls.
Collaborate with DST Lead/Deputy Leads and examiners-in-charge (EICs), lead and/or participate in risk-focused reviews of functional areas, business line activities or special projects, and provide written observations and findings appropriate for inclusion in supervisory reports.
Evaluate the effectiveness of management and influence their actions through satisfactory relationship management and interpersonal skills including effective negotiation and conflict resolution.
Serve as team and System resource by leading or participating on high-level projects, workgroups, and strategic initiatives. Contribute to the understanding of emerging risk, risk management practices and changes in supervision policies, procedures, tools or guidance on a System basis.
Demonstrate good judgment and well-reasoned decision making in situations that involve complex issues and potentially adversarial circumstances.
Prepare informative, well-supported supervisory products and work papers, effectively communicating complex and problematic supervisory issues and requires actions to senior management and boards of directors.
Maintain a global awareness of relevant regulations, laws, issues, trends and ongoing developments in the financial services industry.
Provide mentoring or training to less experienced staff members and contribute to a positive work environment.
Routinely share knowledge within the DST and program, and function as a team player while demonstrating personal accountability and openness to constructive feedback.
Participate in out-of-district assignments to enhance peer perspective and personal development.
Education and Experience:
A Bachelor’s degree is required, with a concentration in business management, finance, or accounting preferred.
Knowledge and experience normally acquired through, or equivalent to, the completion of a Master's degree and a minimum of 10+ years of commensurate financial industry or regulatory work experience.
Appropriate industry certifications (CFA, CPA, CIA, CRMA) are preferred, but not required.
Other Accountabilities:
Perform other duties as assigned.
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 and holidays; flexible work environment, healthy workflow
Generously subsidized public transportation
Annual tuition reimbursement
Professional development programs, training and conferences
And more…
The Federal Reserve Bank is committed to a diverse, equitable and inclusive workplace and to provide equal employment opportunities to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, or military service.
#J-18808-Ljbffr