Federal Reserve Bank of San Francisco
Operational Risk Specialist - MUFG Supervisory Team','255272','Federal Reserve Bank of San Francisco','CA-San Francisco','','Full-time','Regular','Exempt','Exempt','Experienced','','','Yes, 50 % of the Time','Day Job','','','Tier II - Credit Check','Tier II - Credit Check','','','','!*!Job Summary:
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 Mitsubishi UFJ Financial Group (MUFG) dedicated supervisory team. MUFG is headquartered in Tokyo, Japan and is one of the largest banking organizations in the world. U.S. operations of MUFG include significant commercial banking, investment banking, brokerage, and asset management activities.
This position will report to the Deputy Central Point of Contact (CPC) on the MUFG supervisory team. The position emphasizes monitoring and assessment of MUFG’s operational risk with a particular focus on information technology (IT) risk and data management. More specifically, this includes coverage of second line of defense or independent oversight of Information Risk Management, as well as the more traditional elements of IT risk management and governance (e.g.; IT risk appetite, BCP, Information Security, etc.). Further, coverage would include proactive monitoring and assessment of the firm’s transformational initiatives around information systems and enterprise data and data governance, and internal audit activities associated with all of the above.
The successful candidate should have an intermediate to advanced knowledge of information technology and information security, and a strong working knowledge of risk management and governance practices. The candidate will collaborate with other risk specialists covering operational, credit, market, liquidity, legal and compliance and other risks as part of the dedicated supervisory team. Furthermore, the incumbent will work closely with FRBSF’s risk specialty teams and risk monitoring & analysis team, as well as with other regulatory agencies including the Office of the Comptroller of the Currency (OCC) to identify emerging risk issues, trends, vulnerabilities, and ongoing developments in MUFG’s operational risk areas relating to IT and data.
The Operational Risk Specialist will be employed by the Division of Financial Institution Supervision and Credit as part of the Federal Reserve’s national programs for Large Foreign Banking Organizations (LFBOs). MUFG is subject to enhanced prudential standards under the Dodd Frank Act and SR Letter 12-17. The supervisory framework for the LBO and FBO program focuses on two objectives:
Enhancing the resiliency of a firm to lower the probability of its failure or inability to serve as a financial intermediary
Reducing the impact on the financial system and the broader economy in the event of a firm’s failure or material control weaknesses
Support the Central Point of Contact (CPC) in the development and execution of a strong supervisory program at MUFG in accordance with the Federal Reserve System’s Large Foreign Banking Organizations Management Group (LFBOMG) program requirements.
Develop and maintain an intermediate to advanced level of expertise in operational risk, project management, execution risk, information systems risk management, vendor risk management, cybersecurity, business continuity, data management, and internal audit including a strong understanding of current industry trends and practices, effective risk measurement and management practices, and emerging concerns that may impact MUFG’s U.S. operational risk profile.
Monitor and evaluate developments impacting MUFG’s operational risk profile through in-depth review and analysis of internal risk management reports and regular interaction with MUFG’s management.
Lead reviews and target examinations, including development and execution of supervisory objectives and procedures that identify material risk exposures and assess the adequacy of risk management practices, production of well-supported safety and soundness conclusions, and engagement with System and Division Risk groups to appropriately consider a horizontal perspective in the team’s work products.
Assist in examinations and reviews including the annual roll-up inspection and coordinated reviews with specific emphasis on effective and timely engagement with horizontal examination teams and System resources to arrive at well-supported assessments of the firm’s operational resiliency and safety and soundness
Ensure timely delivery of high quality supervisory work products where required.
Enable strong interagency coordination through collaborative work with other supervisors within the division, Board of Governors, OCC, Federal Deposit Insurance Corporation, and other regulatory agencies as appropriate, including the Consumer Financial Protection Bureau','!*!Positions Requirements:
An applicant for employment must be a U.S. Citizen, U.S. National, or hold a permanent resident/green card with intent to become a U.S. Citizen.
Bachelor’s degree in business administration, finance, economics, or other related field is required, advanced degree is preferred
Seven or more years of direct or comparable regulatory, financial industry, consulting, and/or banking experience with a focus on operational risk.
Ability to foster good working relationships with System stakeholders.
Advanced analytical skills and the ability to apply and explain complex regulatory concepts
Strong written and verbal communication skills
Travel is required (up to 50%)
Position subject to a rotation after a possible term of 5 years.
Candidates should be able to demonstrate the following One Bank Behavioral Competencies:
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.
Emotional Intelligence – Manages Self
Keeps disruptive emotions and reactions in check in stressful or ambiguous circumstances.
Takes action to manage or avoid stressful situations.
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.
Undergraduate and/or Graduate degree or equivalent work experience, professional certifications, and specialized degrees in related fields are desirable but not required.
An examiner commission from a federal or state banking supervisory agency or the relevant experience and training required for entry into Interim Examiner Commissioning Program for Large Financial Institution Supervision.
Knowledge of large bank supervision and familiarity with the Federal Reserve’s Consolidated Supervision Framework for Large Financial Institutions.
The Federal Reserve Bank of San Francisco is an Equal Opportunity Employer. Our people proudly reflect the diversity and the ideas of the community we serve. ','Operational Risk Specialist - MUFG Supervisory Team
Federal Reserve Bank of San Francisco