Federal Reserve Bank of San Francisco
Primary LocationCA-San Francisco
Other LocationsWA-Seattle, UT-Salt Lake City, AZ-Phoenix, CA-Los Angeles, OR-Portland
Full-time / Part-timeFull-time
TravelYes, 50 % of the Time
Job SensitivityTier II - Credit Check
The Federal Reserve Bank of San Francisco (FRBSF) has an excellent opportunity to serve as a Senior Risk Specialist, covering capital planning and positions, as well as coordinating the evaluation of the management of business lines on the supervisory team dedicated to The Charles Schwab Corporation (CSC). FRBSF's Financial Institution Supervision and Credit (FISC) Division supervises financial institutions and service providers to financial institutions in the western United States. Our mission is to ensure a safe, sound, and accessible financial system. Under delegated authority from the Board of Governors, the FRBSF provides regulatory oversight of CSC, a financial institution with over $250 billion in assets on balance-sheet and $3.6 trillion in client assets-under-custody. The firm is headquartered in San Francisco, with a significant presence in Denver, Phoenix and West Lake, Texas. The company's operations include retail brokerage, custody, asset management, investment management, retail banking, and retirement products and services.
This is an exciting time to join the CSC dedicated supervisory team. As a growing firm within the Large Foreign Banking Organization (LFBO) portfolio, CSC is subject to tailored Category III Dodd-Frank Act Enhanced Prudential Standards and will be subject to heightened regulatory scrutiny. The successful candidate will have the opportunity to be exposed to the development of, and directly supervise, emerging activities in an assessment of the firm's continued safety and soundness within the financial industry, across all three lines of defense.
As part of the LFBO program, you will report to the Financial Resiliency Manager on a team of risk specialists responsible for the assessment of CSC's Capital and Liquidity components under the Federal Reserve's Large Financial Institutions Ratings Framework.
The successful candidate will serve as the capital planning risk specialist for the CSC supervisory team, with secondary responsibilities to coordinate the evaluation of the management of business lines in support of the team's assessment of Governance & Controls. The team-oriented individual will work closely with CSC supervisory team members and others to evaluate the effectiveness of CSC's risk and governance frameworks across the three lines of defense, as related to the noted coverage areas. The incumbent will develop a significant depth and breadth of knowledge of practices in noted coverage areas, act as Examiner-In-Charge of related supervisory events, conduct horizontal and coordinated reviews, and will routinely interact with internal and System-level colleagues, other regulators, and the firm's senior management and staff.
This is a rotational position of generally no longer than five years with the expectation that the candidate remains in this role for a minimum of three years.
Lead the development and execution of a strong supervisory program for evaluating CSC's capital planning & positions and management of business lines in accordance with the Federal Reserve's LFBO program requirements.
Conduct timely and periodic risk analyses identifying the level of inherent risks, trend, and materiality of risks at CSC, with focus on the impact to capital adequacy. Highlight issues for further analysis/research in consultation with other risk specialists, examiners, and other regulators. Develop and execute supervisory strategies for evaluating CSC's governance and risk management practices in coverage areas.
Develop creative approaches for evaluating coverage areas and related risk management practices relative to peer companies. Devise methods to efficiently incorporate internal and market-based surveillance data into the ongoing supervision process.
Lead or support supervisory activities covering noted coverage areas, as well as other financial risks (i.e., credit, market, liquidity and interest rate), that occur throughout the year.
Demonstrate agility and leadership through ability to cover other risk topics not specifically captured in areas of coverage, based on team need. Collaborate with other risk specialists on the team to develop a comprehensive understanding of CSC's financial risks and businesses.
Provide subject matter technical expertise in capital planning and management of business lines supervision, Large Bank Holding Company supervision, Savings and Loan Holding Company supervision, and general Safety and Soundness supervision. Maintain an awareness of potential changes to key rules, laws and regulations, and supervisory policies as applicable to CSC.
Build and maintain effective working relationships within the team, with peers, within FRBSF, the Federal Reserve System, with other regulatory agencies, and with the supervised firm.
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 or Master's degree in business administration, finance, economics, or other related field is required. CFA, CPA, FRM designations and examiner commission preferred.
Seven or more years of direct or comparable banking, financial industry, or banking supervision experience in a variety of activities, including but not limited to: capital markets, stress testing, and asset management.
Working knowledge of relevant supervisory standards on stress testing and capital management practices at large financial institutions.
Advanced analytical skills and the ability to apply and explain complex regulatory concepts.
Strong written and verbal communication skills.
Ability to travel 10 percent for San Francisco based candidates or 50 percent or more for non-SF based applicant; travel requirement may be negotiable depending on background and qualification of the successful applicant.
Required behavioral competencies include: Achievement, Accountability, Collaboration, Critical Thinking, and Emotional Intelligence.
The Federal Reserve Bank of San Francisco believes in the diversity of our people, ideas, and experiences and are committed to building an inclusive culture that is representative of the communities we serve.
We offer a wonderful benefits package including: Medical, Dental, Vision, Pre-tax Flexible Spending Account, Backup Child Care Program, Pre-Tax Day Care Flexible Spending Account, Paid Family Care Leave, Vacation Days, Sick Days, Paid Holidays, Pet Insurance, Matching 401(k), and a Retirement / Pension
We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment.
The Federal Reserve Bank of San Francisco is an Equal Opportunity Employer.
The Federal Reserve Bank of San Francisco is an Equal Opportunity Employer. Our people reflect the diversity and the ideas of the community we serve.