Senior Vice President – National Programs, Policy and Risk - Supervision and Regulation Department (Finance)
Company
Federal Reserve Bank of ChicagoThe Federal Reserve Bank of Chicago is one of 12 Reserve Banks that, along with the Board of Governors in Washington, D.C., constitute the Federal Reserve System, which was established by Congress in 1913.The fundamental mission of the Federal Reserve System is to foster the stability, integrity and efficiency of the nation's monetary, financial and payment systems and to promote optimal economic performance.
To this end, the Federal Reserve Bank of Chicago serves the public interest by participating in the formulation and implementation of national monetary policy; supervising and regulating state member banks, bank holding companies and foreign bank branches; providing financial services to depository institutions, designated financial market utilities, and the U.S. government; and promoting consumer protection and community development.
The Seventh Federal Reserve District serves a five-state region, comprising all of Iowa and most of Illinois, Indiana, Michigan and Wisconsin. The Seventh District has more individual banks than any other Federal Reserve District. It also comprises a considerable part of the nation's manufacturing base — especially capital goods and consumer durables — as well as agricultural production and food processing.
Supervision & Regulation Department:
Supervision and Regulation (S&R) plays a critical role in The Federal Reserve Bank of Chicago's core mission, supervising regulating state-chartered banks that are members of the Federal Reserve System, bank holding companies, financial holding companies and savings and loan holding companies. Our duty is to foster the stability, integrity and efficiency of the nation's monetary, financial and payment systems to promote optimal economic performance. We seek individuals who hold themselves to the highest standards, who flourish in an environment of collaboration and innovation. Our most successful staff have strong critical thinking skills, as well as strong verbal and written communications capability.
Job Summary:
The Federal Reserve Bank of Chicago has an immediate opening within the S&R department for a Senior Vice President (SVP) of the National Programs, Policy and Risk division, with ultimate responsibility for approximately 75 employees. This position serves as a division head and is a member of the S&R Executive Committee that provides strategic direction, leadership and expertise for the department. This position directs the efforts of several critical teams involved in System' National Programs, including the Large Institution Supervision Coordinating Committee (LISCC), Shared National Credit (SNC), and the Supervisory Stress Testing Programs. In addition, the Wholesale Credit Risk Center (WCRC), a center of excellence for the Federal Reserve System, provides wholesale data management and analytics in support of supervisory activities across multiples portfolios and activities. Finally, the group is also responsible for providing policy insights and input to Reserve Bank executive leadership on Seventh District financial and risk performance. In an executive capacity, the position works closely with senior leadership to identify business needs and ensure long-term tactical solutions support strategic directions.
NOTE: This role requires leadership over a broad range of subject areas specific to Supervision and Regulation including the National Programs mentioned above. Please provide a brief overview (cover letter) describing how your supervisory knowledge and experiences have prepared you for this role. Please also provide why you are interested in this role.
Your Responsibilities:
Oversee and provide strategic direction and oversight to the division and multiple National Programs through participation in System committees and groups, navigating matrix management relationships, and influencing strategic priorities and outcomes in the national program space.
As a member of S&R Executive Committee, promotes open dialogue and sharing of information to advance the operations of the department
Oversees, leads and/or participates in supervisory guidance creation and implementation, improvement initiatives or department/Bank/System workgroups and initiatives
Provides team members with a strategic vision, active mentorship, ongoing coaching, specific direction and opportunities for professional growth
Creates an environment that seeks and promotes diverse views, perspectives and an inclusive culture
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Maintains strong working relationships with senior leaders within the Department, Bank and Federal Reserve System as well as with institution management, and colleagues at other supervisory agencies
Major Stakeholders: S&R employees, Department and Reserve Bank officers and executive teams, Federal Reserve Bank of Chicago Policy, Integration and Engagement Committee, Federal Reserve Board leadership, LISCC Operating Committee, System Supervision Committee, and the Quantitative Resource Oversight Group
Communicates and ensures staff understanding of Bank and department goals, objectives operating policies, procedures and regulations
Oversees talent management activities for the division including hiring, developing, evaluating, and rewarding staff
Education:
Bachelor's degree in business related area required. Master's degree preferred
15+ years of direct-work related experience including at least 10 years of senior leadership experience
Deep banking, risk management or supervision gained through a combination of education and experience
Leadership Competencies – Seeking candidates exhibiting strong acumen in the following areas:
Thinking Strategically - Thinks about issues and navigates relationships to advance the Bank's goals; leads with the future in mind; creates a culture of creative problem solving and taking calculating risks
Leading Inclusively - Understands and champions the importance of diversity, equity and inclusion through equitable practices; leverages diverse talent and encourages development for all employees; encourages and supports unique and courageous actions including feeling safe to speak up, dissenting, and offering innovative ideas
Growing Intentionally - Demonstrates self-awareness and continuous development by seeking out feedback and modifying behavior; seeks out advisors who while challenge both ideas and ways of thinking
Knowledge & Skills:
Demonstrated ability to leverage diverse talents, enhance culture and engagement, and partner with individuals with a wide variety of professional expertise and personal experiences
Knowledge of regulatory processes and regulations and work experience applying knowledge to complex situations
Demonstrated ability to influence, persuade and build credibility and productive partnerships across multiple functional areas and all levels of an organization
Demonstrated ability to provide constructive feedback, identify and develop leadership and management succession and build strong teams, including those in remote locations
Proven ability to deliver strong written communication
Proven ability to facilitate and present complex products/services to senior leadership and stakeholders
Proven ability to develop strategic plans in a complex business environment while identifying the need for and manage change to realize operational and strategic business improvements
Demonstrated knowledge and success in leading supervisory teams and processes
What we Offer:
The expected starting salary range for this position is between $372,000 and $440,900annually in addition to annual performance-based discretionary bonuses. Final salary and offer are determined by the applicant's relevant experience, skills, internal equity, and geographic and other market data.
The Chicago Fed offers benefits to support overall health and financial security. Learn more about our benefits here: https://www.chicagofed.org/careers/thebenefits
A continuous learning environment with opportunities to gain new skills and grow your career.
Location: This position will require your presence in our Chicago, IL Office.
Other Requirements:
Ability and willingness to travel (20%).
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 applicable background checks 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.
As a condition of employment, Federal Reserve Bank of Chicago employees must comply with the Bank's ethics rules, which generally prohibit employees, their spouses/domestic partners, and minor children from owning securities, such as stock, of banks or savings associations or their affiliates, such as bank holding companies and savings and loan holding companies. If you or your spouse/domestic partner or minor child own such securities and would not be willing or able to divest them if you accepted an offer of Bank employment, you should raise this issue with the recruiter for this posting, who can provide you contact information for our ethics official if necessary.
This position has additional screening requirements due to the information accessed while performing the job. These additional screenings would be initiated at the time of offer acceptance and can take approximately two months to be completed. The screening covers areas such as education/employment verification, criminal history, credit history, and reaches out to your references and people that know you well.
We are committed to equal employment opportunity regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, marital status, disability, gender, gender identity or expression, or veteran status
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First (United States of America)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.
