Assistant Bank Examiner I / II - Consumer Compliance
The Federal Reserve Bank of Philadelphia is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. It helps formulate and implement monetary policy, supervises banks and bank and savings and loan holding companies, and provides financial services to depository institutions and the federal government. The Federal Reserve Bank of Philadelphia serves eastern and central Pennsylvania, southern New Jersey, and Delaware.
The job description below reflects the lower level of a dual grade job posting. Candidates who possess a slightly higher level of experience, education or qualifications may also be considered.
The Supervision, Regulation & Credit (SRC) department is responsible for the supervision and regulation of state member banks (SMBs), bank holding companies (BHCs), savings and loan holding companies (SLHCs), financial holding companies (FHCs), data service providers, trust companies and large and foreign banking organizations (LFBOs). Supervised financial organizations are located across the District and range in size and complexity from small community organizations to some of the largest banking organizations in the country.
This job description is for the Examiner Job Family and is intended primarily for positions within the Safety and Soundness (S&S) and Consumer Compliance (CC)/Community Reinvestment Act (CRA) business lines in Supervision, Regulation and Credit (SRC). SRC has examiner positions at different levels, ranging from assistant to supervising. Each level is differentiated by requisite years of experience and examiner commissioning requirements, as well as by the degree of oversight required and discretion exercised in job performance. The levels are also differentiated by degree of complexity in the supervisory issues addressed, the duties performed, the professional skills applied, and the key behavioral competencies required. Job expectations, duties and skills required at the higher levels build upon those of the lower levels.
An Assistant Examiner I participates as a member of a point-in-time supervisory event team at small to medium sized financial organizations. This is a training-level position and the level of work required is generally considered entry level. This position relies heavily on mentors and coaches for guidance on assignments.
Examiner Job family positions are involved in core supervision work.
The key responsibilities involved in core supervision work are:
- Conducting analysis of current financial conditions and trends and analyzing loans and other assets related to specific financial organizations and to portfolios of institutions; Assessing financial organizations’ compliance with all applicable laws and regulations; assessing financial organizations’ consumer compliance risk management program, compliance with applicable consumer protection laws and regulations, and performance under the CRA.
- Determining the quality of financial organizations’ internal controls, audit systems, board/management oversight and other risk management systems; Communicating findings and assessments to various stakeholders; Evaluating corrective actions required to bring financial organizations into compliance with safe and sound banking practices and applicable laws and regulations; and developing the policies, procedures, and guidance necessary to execute core supervision responsibilities.
Principal Duties and Responsibilities:
- Participates in supervisory events of SMBs, bank and non-bank subsidiaries, trust departments, service providers, BHCs and SLHCs.
- Identifies and assesses less-complex supervisory issues arising in non-complex situations.
- Serves effectively as a member of a team to ensure the successful completion of a supervisory event, including assessment of the financial organization’s overall condition, risk management systems, compliance with applicable laws and regulations, consumer compliance risk management program, compliance with applicable consumer protection laws and regulations, and performance under the CRA.
- Aggregates data and other information from a variety of sources to complete assigned work.
- Completes assigned work within scheduled time frame; discuss conclusions with the examiner-in-charge (EIC), other lead roles or manager.
- Prepares written analysis and propose ratings based on analysis, where applicable.
- Exercises judgment within defined procedures and practices.
- Assists in determining the adequacy of a financial organization’s risk management systems for identifying, measuring, monitoring, and controlling risk in various specialty areas.
- Under close oversight, assesses a financial organization’s internal controls, including internal audit, policies, procedures, and risk monitoring systems.
- Under close oversight, assesses the level of compliance with applicable laws and regulations; assess consumer compliance risk management program, compliance with applicable consumer protection laws and regulations, and performance under the CRA.
- Under close oversight, assess the quality of management and boards of directors. Interprets information and review data in order to complete assigned work effectively and contribute to the overall understanding of events and circumstances.
- Gathers and organize information, conducts thorough and accurate analyses, supports findings and conclusions, makes recommendations, and follows up as appropriate.
- Develops and communicate findings, recommendations, ratings, and supervisory actions to internal and external stakeholders for less-complex supervisory issues.
- Under close oversight, prepares and delivers focused deliverables and persuasive presentations or other correspondence to internal management and outside stakeholders.
- Responds to routine inquiries from internal and external stakeholders, where appropriate.
- Engages stakeholders in collecting feedback and input to complete work activities.
- Maintains management information systems, work papers and other relevant documentation.
- Performs other duties as assigned.
- Completes core curriculum courses in the Examiner Commissioning Program (ECP).
Education and Experience:
A bachelor’s degree is required; a major in business, economics, finance, accounting, law or a related field is preferred. Zero to one year of direct or comparable banking, financial industry, or banking supervision experience. In lieu of a degree, a combination education and relevant work experience may be considered.
Knowledge and Skills:
Job Knowledge: possesses and applies both specific and broad-based knowledge including principles, practices, and procedures of the examination specialty in completing assignments.
Supervisory Event / Project Management: organizes and manages work in such a way that an assignment or supervisory event is completed well and within the defined scope and time constraints.
Analytical: demonstrates basic analytical and problem-solving skills, independent and critical thinking, and decision-making abilities, where appropriate.
Communication: exhibits strong written and oral communication skills. Under close oversight, presents both orally and in written form findings and assessments concerning non-complex supervisory matters or financial organizations to internal and external stakeholders.
Relationship Management: Demonstrates the ability to work effectively on a team. Demonstrates flexibility and the ability to make adjustments as needed.
Business Travel Requirements:
- Travel including extended overnight stays is a requirement for the Examiner Job Family.
- Valid driver’s license required.
Candidates with more relevant experience (1-3 years) will also be considered as an Assistant Examiner II.
Other Requirements:
- Applicants must be able to provide work authorization to prove their eligibility to work in the United States. An applicant for employment also must be a U.S. Citizen, U.S. National or 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 permanent residents must sign a declaration of intent to become a U.S. citizen when eligible to do so and pursue a path to citizenship.
- The Federal Reserve Bank of Philadelphia believes that diversity, equity and inclusion among our employees is essential to our success as an organization, and we want to recruit, develop and retain the most accomplished people from a diverse candidate pool. To support a workplace culture of belonging, we offer eight employee resource groups (ERGs) to support a diverse workforce. Abilities (supporting disabilities and allies), African Heritage, Asian-Pacific, Freedom (supporting LQBTQ+ and allies), Talent Forward (supporting career growth), Women United, Working Families and Veterans. ERGs are open to all employees and a 100 percent rating on the Human Rights Campaign (HRC) Corporate Equality Index. The Federal Reserve Bank of Philadelphia is proud to be an equal opportunity workplace.
- We will ensure that individuals with disabilities are provided reasonable accommodations to participate in the job application or interview process, to perform essential job responsibilities, and to receive other benefits and privileges of employment.
- A requirement of this position is that you will be fully vaccinated against COVID-19 or qualify for a medical or religious accommodation.
- All Federal Reserve Bank of Philadelphia 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 officer if necessary. You should review the Bank's Employee Code of Conduct to ensure compliance with conflict-of-interest rules and personal investment restrictions.
- Background investigations and drug testing are required for all new hires as a condition of employment, after the job offer is made. Candidates for positions deemed as “safety sensitive” will also be screened for the presence of marijuana. Employment may not begin until the Bank accepts the results of the background investigation.
- All employees 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.
- The above statements are intended to describe the general nature, level of work and the requirements of this position. They are not intended to be an exhaustive list of all responsibilities 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.
- This is not a 100% remote opportunity. You will be available to work on-site in at least a hybrid capacity.
- Learn more about the Philly Fed and its culture. Learn more about working for the Philly Fed.