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Assistant Vice President - Large Banking Organizations/Central Point of Contact
Federal Reserve Bank of Cleveland • Cleveland, OH
Posted 12 days ago
The Federal Reserve Bank of Cleveland serves the Fourth Federal Reserve District, which comprises Ohio, western Pennsylvania, eastern Kentucky, and the northern panhandle of West Virginia. It is one of 12 regional Reserve Banks that, together with the Board of Governors in Washington, make up the Federal Reserve System and the central bank of the United States.
Our mission is to foster the stability, integrity, and efficiency of the nation’s monetary, financial, and payments systems to promote optimal economic performance across the country and within the Fourth District. Key strategic objectives for 2017 – 2019 are to:
- Deliver Innovative Solutions:
Proactively identify and develop solutions to transform Bank, System, and Treasury practices
- Strengthen Financial Stability:
Influence policy decisions to strengthen our nation’s financial stability
- Promote Economic Growth and Development:
Advance research on key drivers to regional and national economic growth to guide policy decisions
- Voice of the Fourth District:
Be an influential voice in our region and provide leadership in the Federal Reserve System
The Federal Reserve Bank of Cleveland (Reserve Bank) is seeking an Assistant Vice President Large Banking Organizations (LBO) Central Point of Contact (CPC). This leadership role reports to the Vice President of LBO Supervision. This officer serves a critical role in leading the supervisory activities of a large bank holding company and state member bank headquartered in Cincinnati, OH. This role also has responsibility for leading and contributing to efforts supporting the Reserve Bank’s mission and high priority initiatives.
This officer develops and ensures high-quality execution of the long-range supervisory plan for the firm; completes and communicates supervisory assessments to senior management and directors of the firm, Reserve Bank officers, staff at the Board of Governors, and other regulators; and assigns and maintains appropriate supervisory ratings. This officer also obtains and analyzes information and trends on the financial services industry, and incorporates peer institution perspective into the supervision of the firm. In addition, this officer proactively identifies risks through offsite monitoring and onsite reviews to promote and ensure prudent banking practices and overall financial and operational resiliency. Finally, this officer manages two Deputy Central Points of Contact and a team of examiners dedicated to supervise the firm and provides oversight and leadership to risk specialists that support the supervisory team.
An individual may serve as a CPC assigned to a specific financial institution for up to five years. Following the term the officer CPC will be provided a period of one year to seek a comparable officer role. After such period, in the event that a comparable official role is not available or is not a fit given skills and experience, the individual vacating the officer CPC role will assume a non-officer role.
- Develop and implement an effective risk-focused supervisory plan.
- Ensure timely identification and communication of firm-specific risks and issues, including for broad and highly complex subjects such as capital planning, liquidity, credit risk, model risk management, business technology and corporate governance).
- Contribute to the Reserve Bank and System understanding of macro prudential risks.
- Coordinate supervisory activities with Federal Reserve System horizontal/coordinated reviews and other regulators as appropriate. This includes effective risk prioritization, identification of resource requirements, the integration of multiple risk disciplines, and ensuring that supervisory products reflect and deliver an accurate view of the organizational issues in line with Federal Reserve System and Reserve Bank requirements.
- Establish and maintain strong lines of communication with the supervised entity’s board of directors and senior management team.
- Develop and maintain effective working relationships with Board of Governors’ staff, System Management Groups, functional regulators, and other Reserve Banks to implement supervisory strategies, coordinate ongoing supervisory activities and resources, and ensure that findings, recommendations, and communications to the institution are consistent and appropriate.
- Maintain knowledge of emerging issues, trends, banking and economic conditions, and ongoing developments in the large bank supervision community, as well as a strong understanding of industry risk management practices.
- Provide direct managerial oversight for two Deputy CPCs and indirect oversight of a core team of examiners assigned to the supervision of the company. Evaluate the appropriateness of their supervisory work products and assessments; provide coaching, mentoring, and performance feedback; and provide opportunities for professional development. In addition, provide oversight and direction to assigned risk specialists reporting through a separate management structure.
- Attract, develop, and retain high caliber professional staff with diverse capabilities and backgrounds, and develop successors for key roles.
- Participate on or lead System, Reserve Bank or functional initiatives, committees and project teams to implement supervisory processes, training and development material, or Bank initiatives.
- Perform periodic outreach presentations in support of the Reserve Bank's mission to external stakeholders on industry/regulatory trends.
- Proactively solicit different perspectives and explore different supervisory approaches in ensuring divergent views are considered in the supervisory process.
- Perform other duties as assigned or requested. This may involve fulfilling ad hoc requests and administrative responsibilities.
- Adhere to the Bank’s attendance policies through regular and prompt attendance.
- Bachelor's Degree in Accounting, Finance, Economics, or related field.
- Commissioned Examiner of the Federal Reserve System and experience with Federal Reserve System Large and Foreign Banking Organizations program.
- A minimum of 10 years of related work experience including 5 years of management experience. Successful candidates will have worked as a bank examiner with a Federal or state banking agency.
- Strong leadership and talent management skills, including attracting and hiring talent, engagement with staff, and a focus on individual and team development.
- Strong interpersonal and negotiating skills that will enable the individual to build and maintain effective working relationships with other regulators, Reserve Bank management, bankers, directors, and other stakeholders.
- Strong written and verbal communications skills and the ability to communicate complex supervisory matters in a clear, concise and timely manner.
- Ability to manage conflicting priorities and multiple tasks, to set timetables, and effectively manage change.
This position requires access to confidential supervisory information. Such access is limited to either: (1) "Protected Individuals" as defined by the Immigration Reform and Control Act of 1986; or (2) individuals who qualify under the Board of Governors of the Federal Reserve System’s rules for access to confidential supervisory information. Protected Individuals include, but are not limited to, U.S. Citizens, U.S. Nationals, and lawful permanent resident aliens (also known as "green card holders") who intend to become U.S. citizens. Protected Individuals do not include (i) a permanent resident alien who fails to apply for naturalization within six months of the date the alien first becomes eligible to apply for naturalization and (ii) an alien who has applied on a timely basis, but has not been naturalized as a citizen within 2 years after the date of the application, unless the alien can establish that the alien is actively pursuing naturalization. If you are selected for an interview, you will be required to present documentation of your eligibility to access confidential supervisory information prior to the interview.
This role includes a traditional office environment. Employees typically sit most of the day, work with a computer and may answer/respond to phone calls. Physical movement consists of walking for meetings, breaks, etc. Ability to lift items weighing approximately 20 pounds on a limited basis is required.
It is preferred that the officer resides in the geographic district of the Federal Reserve Bank of Cleveland. If located in the Cincinnati, OH area, travel is less than 15%. If located outside of Cincinnati, OH area, travel is approximately 70%.
Please apply on-line and include a current resume in a .pdf format. In addition to the resume, provide a summary, in .pdf format that addresses the following points:
- Describe how your qualifications and experience align with the expectations of the role.
- Describe your philosophy in managing a professional team, building a culture of high performing, highly engaged employees, and how you will be an effective leader for this team.
- Describe your vision for the role and what you expect to accomplish within the first 12 months.