Corporate Compliance Specialist - Supervision Group

Compensation

: $165,260.00 - $165,260.00 /year *

Employment Type

: Full-Time

Industry

: Legal



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Primary Location
NY-New York City

Full-time / Part-time
Full-time

Employee Status
Regular

Overtime Status
Exempt

Job Type
Experienced

Travel
Yes, 25 % of the Time

Shift
Day Job

Description

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.

The Large and Foreign Banking Organization (\"LFBO\") Risk and Analysis Department of the Supervision Group is looking for qualified professionals to supervise the legal and compliance infrastructures of complex financial institutions under the Federal Reserve's supervision. Through its assessment of risk management practices at financial firms, the LFBO Compliance Risk and Analysis Department plays an important role in executing Federal Reserve safety-and soundness and financial stability objectives.

The Corporate Compliance Specialist will focus on understanding and evaluating the legal and compliance risks presented by the firms' business models and adequacy of the compliance control framework for addressing such risks. The specialist will participate in and direct examinations of supervised financial institutions and is also expected to contribute to other examination, analytical, and policy work conducted by the LFBO Risk and Analysis Department. The risk specialist is expected to effectively interact with senior executives at supervised firms and with senior supervisors and FRS/FRB management, legal staff, and policymakers across agencies.

Your role as a Corporate Compliance Specialist:

  • Plan and conduct examinations to evaluate the legal and compliance risk management practices and determine compliance with relevant laws;

  • Assess the quality and effectiveness of an institution's compliance programs in relation to the inherent risks of the institution, supervisory expectations, and sound practices;

  • Present findings to Federal Reserve and bank management and produce reports, memoranda and work papers in support of findings conforming to Federal Reserve expectations;

  • Develop a comprehensive understanding of laws and regulations pertinent to corporate compliance expectations of the largest and most complex financial institutions;

  • Develop a strong familiarity with pertinent literature used by industry practitioners;

  • Develop subject matter expertise in the identification and management of risks posed by individual business lines, products, or services;

  • Participate in or lead other examinations and special projects, perform analyses, and assist in the development of supervisory policy, as needed;

  • Collaborate with other regulatory agencies and with internal Federal Reserve stakeholders, such as legal and supervisory personnel; and

  • Depending on experience, lead and manage individuals and projects; provide meaningful performance feedback, and provide training and coaching to junior examiners.



Qualifications

What we are looking for:

  • Minimum of eight years of experience working in any of the following roles: financial institution compliance department; compliance consultant in the financial services industry; auditor; or bank examiner.

  • Experience with relevant laws and regulations and strong knowledge of compliance risk management practices and/or bank operations of large banking organizations are a plus;

  • Bachelor's degree; relevant advanced degrees including CPA, MPA, MBA or JD are a plus;

  • Strong critical thinking, analytical and decision making skills;

  • Strong written and oral communication skills, with the ability to deliver written and oral messages confidently and accurately;

  • Strong negotiation skills and ability to build collaborative relationships;

  • Flexibility to adapt to new situations and work sites, including ability to travel and ability to function effectively and independently in a dynamic and evolving work environment;

  • Strong prioritizing, planning, and organization skills; and

  • Public service orientation a plus.

This position requires access to confidential supervisory 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, U.S. permanent residents who are not yet eligible to apply for naturalization and U.S. permanent residents who have applied for naturalization within six months of being eligible to do so.


The Federal Reserve Bank of New York is committed to a diverse workforce and to providing equal employment opportunity to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, or military service.

Why the Fed:


Working at the Federal Reserve Bank of New York positions you at the center of the financial world with a unique perspective on national and international markets and economies. You'll work in an environment with a diverse group of talented professionals to foster and support the safety, soundness, and vitality of our economic and financial systems. It's a challenge that demands the skills of a financial services professional and the intellectual curiosity of an academic-all combined with a passion for public service.


The Federal Reserve Bank of New York is committed to a work environment that respects and fully values the strengths and differences of its people. Working at the New York Fed provides talented professionals the chance to grow their skills at an institution that has served a critical role in the financial system of the United States and the world for over a century. An important component of the Bank's diversity effort is our partnership with several professional non-profit organizations, including INROADS, JumpStart Advisory Group, NBDC Emerging Leaders, Seizing Every Opportunity, National Black MBA, Out for Undergrad, Prospanica and Reaching Out MBA.


Associated topics: attorney corporate, business, corporate, corporate attorney, counsel, court, internal, lawyer, llp, market * The salary listed in the header is an estimate based on salary data for similar jobs in the same area. Salary or compensation data found in the job description is accurate.

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