Quality Control (QC) Examiner - Federal Reserve Bank (FRB)

Company

Federal Reserve Bank of Richmond

When you join the Federal Reserve—the nation's central bank—you’ll play a key role, collaborating with a dynamic and diverse team of mission-driven professionals to strengthen and protect our economy and our communities.

Bring your passion and expertise, and we’ll provide the opportunities that will challenge you and propel your growth—along with a wide range of benefits and perks that support your health, wealth, and life. In addition to competitive compensation, we offer a comprehensive benefits package that includes tuition assistance, generous paid time off, top-notch health care benefits, child and family care leave, professional development opportunities, a 401(k) match, pension, and more. All brought together in a flexible work environment where you can truly find balance.

About the Opportunity

The Federal Reserve Bank of Richmond’s Supervision, Regulation and Credit Department has an exciting opportunity to join the Community and Regional Safety & Soundness (CRSS) supervision business line as a Community and Regional Examination Support Team (CREST) Examiner/Analyst. 

The CRSS team is responsible for helping to ensure the safety and stability of the Fifth District community and regional banks and holding companies to protect the nation’s financial banking system.  CRSS examiners conduct commercial bank examinations and holding company inspections to evaluate the financial condition and determine the effectiveness of risk management and overall operations. CREST’s primary responsibility is to provide support to the CRSS function through several activities.

As a CREST Examiner/Analyst you will serve as part of the CREST team through leading or participating on the execution of Quality Control reviews for CRSS examinations and associated work products. Responsibilities include verifying that established quality standards and processes are being followed and consistently applied, conducting meetings with exam leadership, ensuring work products have well-supported supervisory assessments, and participating in vetting discussions. Additional responsibilities include:

Roles and Responsibilities:

• Performs research and analysis of highly complex and critical supervisory and financial data in order to provide supervisory decisions or recommendations and to identify emerging trends and outliers, monitor issues resolution, and assess risk

• Performs highly complex and/or critical reporting to monitor, review, and analyze required activities and data which comprise or support key supervision and monitoring activities such as: Quality Control, Report Review, and Business Intelligence

• Analyzes and prepares recommendations for a variety of highly complex banking applications and supervisory enforcement actions or identifies Reserve Bank risk exposure, both financial and reputational, during depository institution failure events and recommends action to avoid negative outcomes

• Leads process improvement and solution discussions and presents outcomes and actionable recommendations to senior management, provides leadership support for the modification of business processes

• Collaborates and communicates proactively with internal and external stakeholders to communicate supervisory recommendations/conclusions and to accomplish changes to policies, practices, and processes created to achieve supervisory goals

• Performs and is recognized as a thought leader, providing expertise to appropriate internal and external customers, and viewed as a System expert in area of specialty (Quality Control, Report Review, Loan Sampling)

• Supports Loan Sampling and file reconciliation process for State Member Bank exams and supporting operational business intelligence needs for CRSS stakeholders

Qualifications:

• 3+ years of relevant work experience

• Bachelor’s degree, with preferred emphasis in Finance, Economics, Business, Accounting or related field 

• Bank regulatory, quality control, or audit experience preferred

• Data analysis and visualization

• Strong written and verbal communication

• Ability to perform work under limited supervision with extensive autonomy and discretion

Other Requirements and Considerations:

• Candidates should review the Bank’s Employee Code of Conduct to ensure compliance with conflict of interest rules and personal investment restrictions.

• If you need assistance or an accommodation due to a disability, please notify rich.recruitment@rich.frb.org.

• Employees who work at and/or visit another Federal Reserve entity or outside business as part of their job duties are required to comply with any onsite safety and health protocols of those organizations (including, but not limited to, requirements to vaccinate or test, mask, social distance, etc.).

• 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.

• Under Conflict of Interest guidelines administered by the Board of Governors of the Federal Reserve System, examining personnel may not participate on an examination of a financial institution or affiliate if the examiner was employed by the financial institution or affiliate within the past 12 months.

• Please review Bank’s Employee Code of Conduct to ensure there are no major issues related to your previous employment and current financial interests (relevant sections are 5.3 and Appendix B, Parts I, II and III). FRB ethics rules generally prohibit employees and their immediate families from owning investments in banks, savings associations, or their holding companies (Section 5.3). Additionally, employees engaged in Supervision and Regulation may be subject to borrowing and deposit restrictions. These employees may need to recuse themselves from certain supervisory work based on:

  • Their borrowing relationships (Appendix B Parts I.1, II.1 and II.2)

  • If a financial institution employs a member of the employee’s immediate family (i.e. spouse, child, parent, or sibling) (Appendix B Part I.3 and Part II.3)

  • If the individual was employed by the financial institution or affiliate within the past 12 months (Appendix B Part I.3 and II.3).

  • In certain cases, the recusal may be so extensive it could materially reduce the effectiveness of the prospective employee’s job responsibilities.

• The Intermediate hiring range is $77,400 - $102,300 annually.

• The Senior hiring range is $106,600 - $146,500 annually.

• The Advanced hiring range is $126,700 - $163,400 annually.

• Salary offered will be based on the job responsibilities and the individual’s knowledge, skills, and experience as defined in the job qualifications.

• Applications are reviewed on a rolling basis. Interested candidates are strongly encouraged to apply for the QC Examiner/Analyst position by Monday November 11, 2024.

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.

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