Federal Reserve Bank of PhiladelphiaThe Federal Reserve Bank of Philadelphia is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. It helps formulate and implement monetary policy, supervises banks and bank and savings and loan holding companies, and provides financial services to depository institutions and the federal government. The Federal Reserve Bank of Philadelphia serves eastern and central Pennsylvania, southern New Jersey, and Delaware.
Job Summary: The Risk Analytics and Surveillance (RAS) group identifies and monitors Third District banking conditions and emerging risks and trends. Risk identification and monitoring requires in depth analysis of the banking industry; capital markets; regional and national economies; supervisory policy review related to the overall risks in the examination process; and collaboration within the regulatory landscape to facilitate overall Third District macro-prudential supervision. Analysts develop and maintain a sophisticated working knowledge of their subject area, identify factors that pose risk to financial institutions and/or the financial system within the Third District, quantify the potential impact, and communicate findings to key internal stakeholders, including Supervision, Regulation & Credit (SRC) senior management, examination staff, various units in SRC, and the Risk Management Committee.
An ideal candidate must have knowledge of, be able to perform actions that are related to activities in the RAS business line. Possesses and applies comprehensive knowledge to the completion of moderately complex actions for state member banks, bank holding companies, and institution affiliated parties. Gathers, analyzes, and interprets moderately complex data. Prepares and presents accurate and comprehensive conclusions, recommendations, and related reports under general supervision. Briefs and advises business unit management on the identified issues. May review the work of less experienced analysts and provide training to promote professional development of staff. Participates on related department or Bank projects or task forces. Provides advanced quantitative analysis; draws conclusions and recommendations to assist in the overall supervision of moderately complex to complex supervisory issues impacting financial institutions; participates in moderately complex to complex examinations/inspections or transactions/events; develops and effectively communicates analytical findings for moderately complex to complex supervisory issues; participates or leads Division-, Bank and System-wide initiatives. Demonstrates and applies a comprehensive understanding of supervision and regulation processes and the risks faced by supervised institutions understands the interrelationship of banking risk and applies an integrated risk management approach in assessing an institution's performance; identifies more complex supervisory issues; individual may have advanced skills in one or more disciplines.
What You Will Do:
Plans, conducts, and directs more complex actions as they relate to a specific business unit with minimal to no supervision.
Participates in discussions with examination areas, Bank legal, and/or Board of Governors staff to determine the appropriate level of action to address identified deficiencies, prepares recommendation memoranda, and drafts informal and formal actions.
Along with unit management, meets with bank senior management to place action.
Plans use of time to accomplish a variety of tasks with no oversight; schedules own work so that the most important work is completed first; assigns work and tasks to project team and coordinates completion of project deliverables; develops project plans, timelines and milestones for more complex projects; serves as technical advisor/team member on projects or examinations/inspections.
Evaluates financial institution progress in complying with action and recommends alternative action when warranted.
Prepares correspondence to financial institutions describing further corrective actions needed.
Monitors Suspicious Activity Report (SAR) database and participates in investigations of institution affiliated party (IAP) SARs and other reported IAP frauds.
Working with other analysts, participates in investigations of potential IAP frauds with examination areas, Bank legal, and/or Board of Governors staff.
Stays abreast of relevant regulations, interpretations, and legislation, and identifies emerging issues affecting the banking industry.
Participates in departmental outreach program by making speeches to other Supervision, Regulation and Credit (SRC) business units, coordinating conferences, and/or writing articles related to assigned area of responsibility.
May participates on bank, department, or system projects.
Fulfills job duties and responsibilities in conformance with sound safety practices.
Demonstrates effective SRC Core Competency skills and performs other related duties as assigned.
What You Have:
Knowledge and Skills:
Strong written and oral communications skills. Under little oversight, presents both orally and in writing, findings and assessments concerning moderately complex to complex supervisory matters or institutions; prepares and presents information and responses to moderately complex to complex questions.
Strong analytical and problem-solving skills. Demonstrates intermediate to advanced analytical and problem-solving skills; analyzes relationships among facts and events driving more complex problems; organizes data and information in a manner that effectively communicates issues; identifies underlying issues and recognizes trends/cause-effect relationships.
Strong interpersonal skills. Demonstrates the ability to work effectively on a team; leads teams and uses skills of influence to accomplish stated goals; draws on experience to resolve moderately complex to complex issues; displays strong interpersonal skills in dealing with people at all levels of an organization.
Strong time management skills. Identifies and assesses moderately complex to complex supervisory issues; effectively manages moderately complex to complex issues in order to meet our supervisory objectives and goals.
Subject to general oversight in work performed; serves as mentor and/or coach and provides constructive feedback to less experienced staff; engages other stakeholders in collecting feedback and input to complete work activities.
Strong PC skills, using standard Bank word processing, spreadsheet, and presentation applications.
Education and Experience:
Bachelor’s degree in business area, or equivalent related work experience and education, is required.
An advanced degree is preferred.
Minimum of five years’ experience in bank supervision, banking, or finance related field is required.
Completion of an examiner training program as specified by the Board of Governors is preferred.
Below is a detailed summary of specialized skills for the RAS business line:
Completes quarterly RAS unit reports based on the Third District banks` and savings associations financial condition for SRC staff.
Analyzes sources of systemic risk, emerging issues, and economic factors as they apply to Third District financial institutions to assess their impact on the institutions and the supervisory processes.
Confers with business unit management on the identified issues and escalates them to the appropriate areas when the risk is a known quantity.
Plans, conducts, and assists on analytical studies and assignments with moderate to slight supervision.
Prepares briefs on emerging issues for business unit management. Works with other senior members of the unit on complex analytical projects.
Maintains and uses automated information systems on the banking industry to support statistical analysis, periodic reports, and responses to ad hoc inquiries from within the department.
Performs financial, statistical, and econometric analysis using statistical and financial software applications, such as SAS or Excel VBA, at a beginning to intermediate level.
Maintains knowledge by monitoring and evaluating trends and developments in the banking industry and its regulatory environment.
Stays abreast of relevant regulations and legislation and analyzes emerging issues affecting the banking industry.
Researches and prepares written reports and/or presentations on important issues for business unit and department management.
Presents ideas and analytical findings to other appropriate audiences.
Interacts with colleagues in the department as needed to gather information for inclusion in reports.
Interacts with others in the Federal Reserve System, including Surveillance staff across the System, as appropriate, to provide insight and create shared tools that can be utilized by SRC staff Regulatory Application Possesses and applies knowledge of regulatory applications.
An advance ability to consult, participate with more experienced analysts, or other Supervision, Regulation and Credit (SRC) units, financial institutions, other regulatory agencies, or Reserve Banks, Legal, and/or the Board of Governors when warranted in an effort to make recommendations on regulatory transactions and events.
The salary grade for this position is 13/15. Final salary and offer will be determined by the applicant's background, experience, and skills, and internal equity and alignment with market data.
We offer a great benefits package that features:
Medical (4 options), Prescription, Dental (3 options), and Vision Insurance with no waiting period
401k/Thrift Plan with generous employer match
Employer-funded Pension Plan
Paid Vacation/Sick Time & Holidays
Monthly $100 Commuter Allowance
Flexible Spending Accounts and Healthcare Spending Accounts
Flexible Work Schedule available in most departments
Life Insurance and Long Term Disability Insurance
Tuition Reimbursement (undergraduate and graduate)
Parental Leave
Free onsite 24/7 Fitness Center including training classes, Peloton bikes and locker room / shower facilities
Onsite Cafeteria & Coffee Shop
Additional Convenience Benefits, Discounts and More…
Additional Information:
The Federal Reserve Bank of Philadelphia takes your information privacy seriously. Federal Reserve Bank of Philadelphia staff will only email you from the “@phil.frb.org” domain or through the Workday system “rb@myworkday.com”. If you are initially contacted by phone, feel free to request that the caller provide you with their email address to validate their identity. If you have any questions about the validity of someone who contacts you regarding this position, please email the Talent Acquisition team at TalentAcquisition@phil.frb.org.
The Federal Reserve Bank of Philadelphia believes that diversity, equity and inclusion among our employees is essential to our success as an organization, and we want to recruit, develop and retain the most accomplished people from a diverse candidate pool. To support a workplace culture of belonging, we offer nine employee resource groups (ERGs) and a 100 percent rating on the Human Rights Campaign (HRC) Corporate Equality Index. The Federal Reserve Bank of Philadelphia is proud to be an equal opportunity workplace.
We have nine employee resource groups (ERGs) to support a diverse workforce. Abilities (supporting disabilities and allies), African Heritage, Asian-Pacific, Freedom (supporting LQBTQ+ and allies), Talent Forward (supporting career growth), Women United, Latin and Hispanic Heritage, Working Families and Veterans. ERGs are open to all employees.
We will ensure that individuals with disabilities are provided reasonable accommodations to participate in the job application or interview process, to perform essential job responsibilities, and to receive other benefits and privileges of employment. If you need assistance or an accommodation due to a disability, please email us at TalentAcquisition@phil.frb.org.
All Federal Reserve Bank of Philadelphia employees must comply with the Bank's ethics rules, which generally prohibit employees, their spouses/domestic partners, and minor children from owning securities, such as stock, of banks or savings associations or their affiliates, such as bank holding companies and savings and loan holding companies. 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, who can provide you contact information for our ethics officer if necessary. You should review the Bank's Employee Code of Conduct to ensure compliance with conflict of interest rules and personal investment restrictions.
Background investigations and drug testing are required for all new hires as a condition of employment, after the job offer is made. Candidates for positions deemed as "safety sensitive" will also be screened for the presence of marijuana. Employment may not begin until the Bank accepts the results of the background investigation.
Due to the nature of the information you will have access to, we require that you also complete a more in-depth enhanced background screening (Peraton moderate or high).
All employees will be subject to FBI fingerprint / criminal background and Patriot Act/ Office of Foreign Assets Control (OFAC) watch list checks at least once every five years.
The above statements are intended to describe the general nature, level of work and the requirements of this position. They are not intended to be an exhaustive list of all responsibilities associated with this position or the personnel so classified. While this job description is intended to be an accurate reflection of this position, management reserves the right to revise this or any job description at its discretion at any time.
This is NOT a 100% remote opportunity. You will be available to work on-site in at least a hybrid capacity.
Learn more about the Philly Fed and its culture. Learn more about working for the Philly Fed.
Full Time / Part Time
Full time
Regular / Temporary
Regular
Job Exempt (Yes / No)
Yes
Job Category
Supervision Family Group
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.
