Federal Reserve Bank of New York
Liquidity & Market Risk Specialist – Charles Schwab Team - Risk Specialist /Sr. Risk Specialist I
Traditional Asset Manager
An excellent opportunity exists to serve in a key role in the execution of a strong supervisory program on the Federal Reserve Bank of San Francisco's Charles Schwab Corporation (CSC) supervisory team. CSC is an innovative technology company headquartered in San Francisco engaging in securities, brokerage, asset management, banking, and related financial services. The Liquidity and Market Risk Specialist's primary role is to understand and address liquidity and market risk issues in support of the dedicated CSC supervisory team.
The team-oriented individual will serve as a key member of the dedicated supervisory team in the development and execution of the supervisory program at CSC. This position will report to the Financial Resiliency Manager on the CSC supervisory team. The individual will work across the supervisory team to develop, execute, and update a coordinated supervisory plan for Financial Resiliency, with specific leadership responsibility for liquidity and market risk activities, including Corporate Treasury and independent risk management. While the position has an emphasis on monitoring and assessing liquidity and market risk exposure and related risk management practices, the assigned work for this position will also include the broader range of subjects associated with financial resiliency, such as asset liability management, model risk management, interest rate risk management, and investment securities portfolio management, as well as capital planning activities. In addition, the preferred candidate will understand the consolidated supervision framework for large financial institutions outlined in SR Letter 12-17 and be familiar with specific guidance related to (1) capital planning, (2) liquidity and (3) market risk management. This position provides a forward-thinking individual an opportunity to support the FRBSF's efforts to ensure this supervised institutions align with SR 12-17 and SLHC-specific guidance, including SR 11-11 and 14-9.
Continuous Monitoring Activities: Conduct liquidity and market risk analyses identifying all significant financial and/or business issues,including evaluating CSC's liquidity and market risk/safety and soundness analyses relative to peer companies.
Develop and maintain a high-level of technical expertise in liquidity and market risk and safety & soundness examinations, particularly in a large financial institution environment.
Prepare and lead timely, periodic supervisory assessments. Highlight issues for further analysis/research and initiate inquiries. Develop ad hoc analyses and contribute to key portions of supervisory products Synthesize information from multiple sources to identify industry trends.
Quickly identify emerging institutional, regional, economic, regulatory and industry issues and their potential impact to CSC's performance.
Supervisory Activities: Lead and/or support the liquidity and market risk management oversight of functional areas (i.e., corporate treasury, independent risk management functions, etc.) and business lines (e.g., bank subsidiaries, broker/dealer, asset management, etc.).
In collaboration with the CPC (Central Point of Contact) and dedicated team members, lead or participate in risk-focused reviews at CSC, providing written observations and findings appropriate for inclusion in supervisory reports.
Evaluate the effectiveness of management, and influence their actions through an effective supervisory relationship management and interpersonal skills.
Maintain effective liaisons with institution management, System counterparts, and other regulatory agencies.
Lead and/or support in the preparation of the supervisory strategy and risk assessment for CSC and participate in the vetting of scopes and findings relating to risk specialty area.
Non-Supervisory Activities: Develop and maintain a sound understanding of industry trends, emerging issues and peer risk management practices through attending formal training classes and relevant industry conferences.
Participate in cross-functional Division and/or System-level initiatives to provide functional area expertise and to enhance breadth of knowledge.
Serve as a System and Division resource by leading or participating in high-level projects, workgroups and strategic initiatives.
As needed, provide expert commentary on proposed revisions to policy and procedures.
Serve as a mentor or coach, providing constructive feedback to all levels of staff.
Contribute to a positive work environment
Be a U.S. citizen, U.S. national, or hold a permanent resident/green card with intent to become a U.S. citizen.
A minimum of four years of direct or comparable banking, financial-industry, or banking-supervision experience in liquidity risk and/or market risk.
Bachelor's degree in business administration, finance, accounting, economics, or other related field is required.
Ability to foster good working relationships with System stakeholders.
Excellent written and oral communication skills and the ability to effectively initiate and maintain communication and information flow with the supervised institution and other regulators (i.e., the OCC, SEC, FINRA and FDIC).
Some travel is required.
Position subject to a rotation after a term of 3 to 5 years.
Candidates should be able to demonstrate the following OneBank Behavioral Competencies: Leadership - Empowers the team Regularly solicits input from team members to involve them in decision-making.
Delegates, and gives team members the autonomy to do what they think is right.
Creates a shared vision, and effectively facilitates team behavior.
Collaboration - Shares and solicits input Reaches out and shares ideas and experiences with colleagues to understand the potential impact of team activities.
Incorporates diverse viewpoints into their team and project plans to generate solutions.
Influence - Builds effective relationships Builds authentic, respectful relationships with individuals across all levels of the organization.
Identifies and engages with multiple and diverse contacts outside the decision-making chain (experts, third parties) who can help clarify, strengthen, and advance ideas or proposals.
Draws on network or relationships to build coalitions in support of the best ideas.
Accountability - Monitors performance against standards Introduces diverse metrics to enable measurement of performance and progress.
Has difficult conversations with others who are not upholding standards, regardless of their position/seniority.
Critical Thinking - Develops solutions Supports organizational goals by providing new insights based on out of the box thinking.
Integrates external marketplace practices and trends to develop new solutions and strategies.
Preferred: An examiner commissioned from a federal or state bank supervisory agency is desirable
Graduate degree or equivalent work experience, professional certifications, and specialized degrees in related fields are desirable
Knowledge of liquidity and market risk management activities and prudent practices for managing of liquidity and market risks
Previous direct supervisory experience in evaluating liquidity and market risk and risk management practices at large financial institutions, or institutions with broker/dealer operations and asset management
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Federal Reserve Bank of New York
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