Assistant Vice President

20 Nov 2024

Vacancy expired!

Company Federal Reserve Bank of Boston

As an employee of the Boston Fed, you will work to promote sound growth and financial stability in New England and the nation. You will contribute to communities, the region, and the nation by conducting economic research, participating in monetary policy-making, supervising certain financial institutions, providing financial services and payments, playing a leadership role in the payments industry, and supporting economic well-being in communities through a variety of efforts. The Boston Fed is one of 12 Reserve Banks and we serve all or parts of Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont. Our mission is accomplished through our Bank's values: diversity, equity and inclusion, innovation, integrity, and leadership.

A requirement of this position is that the employee must be fully vaccinated against COVID-19 or qualify for an accommodation from the Bank's vaccination policy; individuals who are unable to be vaccinated due to a medical condition or sincerely held religious belief may request an accommodation from the Bank.

Job Summary

This position is responsible for designing and directing the continuous, risk-focused supervision of a large financial organization; understanding the risk profile of the institution, including key risk and control issues: directing the activities of examiners; obtaining appropriately skilled staff resources for specific supervisory activities; establishing effective relationships with senior management of the supervised institution; establishing partnerships with other regulatory authorities; and communicating activities and results to a variety of high-level constituencies. This position is also responsible for remaining aware of and contributing to the understanding of industry-wide risk exposures and sound practices in risk management; and leading/contributing to key System initiatives involving complex supervisory issues.

Principal Accountabilities
  • Develops and implements the supervisory plan for assigned institution. Coordinates the evaluation of institution and business line risk profiles. Ensures that risk profiles are evaluated relative to other similar organizations. Understands material corporate risk exposures and how these are measured and managed. Coordinates with other regulatory authorities, and as appropriate, System horizontal reviews. Ensures the quality and timely completion of all required supervisory documents and deliverables.
  • Develops effective relationships with senior management of supervised institution, other bank supervisors, pertinent functional regulators, other Reserve Banks, and local Reserve Bank personnel to allow for effective coordination of supervisory activities.
  • Communicates, both oral and written, supervisory findings and concerns to the senior management and directorate of supervised institution, local Reserve Bank senior management, and the Board of Governors and its staff, and domestic and foreign supervisors.
  • Maintains a broad knowledge of emerging issues and ongoing developments in supervision of large financial organizations, as well as a strong understanding of current risk management practices in the financial services industry. Contributes to the understanding of systemic risks and supervisory concerns through participation in local meetings, System conferences, horizontal reviews, and other formal and informal processes. Leads/contributes to key System assignments that involve a high degree of complexity and visibility. Provides expert, final form commentary on proposed revisions to policies and procedures.
  • Contributes as a member to System committees or working groups that support portfolio management groups by recommending and coordinating horizontal and coordinated supervisory activities to mitigate portfolio risks.
  • Demonstrates strong judgment and well-reasoned decision making in situations that may involve complex issues, public scrutiny, market reactions, and potentially adversarial circumstances.
  • Responsible for the leadership and development of a team of high level professionals including establishing goals and objectives, directing the activities of assigned staff, providing performance feedback, and performing a variety of personnel and staff development activities.
  • Leads and participates in department and unit initiatives, perform other administrative and budgeting processes related to examination work.

Other Accountabilities

Performs other duties as assigned.

Supervision

This position is required to supervise up to 20 employees.

Knowledge and Experience

Knowledge and experience normally acquired through, or equivalent to, the completion of a Master's degree and a minimum of 7-10 years of job-related experience.

• Must be a senior level commissioned examiner.

• Ability to travel is required.

The Federal Reserve Bank of Boston 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.

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.

All employees assigned to this position 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. All candidates must undergo an enhanced background check and comply with all applicable information handling rules.

The above statements are intended to describe the general nature and level of work required of this position. They are not intended to be an exhaustive list of all duties, responsibilities or skills 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.

Full Time / Part Time Full time

Regular / Temporary Regular

Job Exempt (Yes / No) Yes

Job Category Executive

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.

Privacy Notice

  • ID: #23043069
  • State: Massachusetts Boston 02108 Boston USA
  • City: Boston
  • Salary: USD TBD TBD
  • Job type: Permanent
  • Showed: 2021-11-20
  • Deadline: 2022-01-18
  • Category: Et cetera