Large Bank Sr. Examiner I Job Details

The Federal Reserve Bank of Richmond is seeking an Examiner in their Large Complex Banking Organization (LCBO) Unit. This position is for a market risk specialist covering capital markets risk at Bank of America (BAC) and will be located in Charlotte, NC. The market risk specialist will report directly to the market risk lead examiner and will work closely with other market risk specialists in monitoring exposures and controls. This position requires expertise in market risk management and would greatly benefit from a strong understanding of risk exposure measurements across fixed income, credit, equity, MBS and/or ABS traded product business lines. The successful candidate will work with the market risk team to develop and execute the Federal Reserve’s supervisory program for market risk activities. This individual will conduct examinations and ongoing reviews, analyze internal reports, lead discussions with bank management, review industry information, and research risk topics related to financial stability issues affecting BAC and the Federal Reserve’s other supervised institutions.

The successful candidate will possess an advanced understanding of key inherent risk and market risk management control practices at the larger more complex institutions (LFI/LCBO) which may include, but are not limited to understanding various broker-dealer trading businesses, valuation and price risk methodologies, value-at-risk (VaR) calculations, and the interaction between front office trading desks and their key control support partners (finance, audit, product controllers, compliance and back office).

An important requirement of this position is effectiveness in initiating and maintaining communication and information flow with supervised institutions and other regulators. Written and oral communications must be conclusion oriented, well-supported and consistent with regulatory standards and established best practices. Additionally, the ability to foster good working relationships with several stakeholders in the Federal Reserve System is of great importance.

Under conflict of interest guidelines administered by the Board of Governors of the Federal Reserve System, examining personnel may not participate on an examination of a financial intuition or affiliate if the examiner was employed by the financial institution or affiliate within the past 12 months. This job posting requires regular participation on Bank of America examinations.

Essential Job Responsibilities:

•Plans for, scopes, leads, and communicates findings of supervisory activities to Reserve Bank and supervised large institution management.

•Contributes to supervisory products such as risk assessments, supervisory plan, the bank holding company rating and monthly reports.

•Participates in supervisory product vettings with senior System staff related to area of specialty.

•Contributes to policy development, including researching industry and risk issues.

•Identifies and contributes to resolution of emerging risk issues.

•Surfaces issues that have a potential financial stability or systemic risk impact.

•Contributes to System workgroups and affinity groups and/or Department workgroups.

•Occasionally communicates issues to Reserve Bank executive management, including the President, through verbal and written briefings. Regularly communicates with senior-level management at supervised large institutions, representatives of other regulatory agencies, and the industry. Interacts with senior System staff consistent with workgroup, affinity group and policy development influence.

•Performs job responsibilities independently with minimal oversight (i.e., monitoring and analyzing market risk; leading examinations; and communicating with senior level stakeholders).

•Performs other duties as assigned or requested.

•Can effective balance multiple responsibilities and can work well under pressure.

•Perform other duties as assigned or requested.

•Required travel of approximately 30%.

Qualifications/Experience:

•Considerable knowledge of market risk concepts and demonstrated proficiency in making assessments of the level of market risk and quality of risk management practices.

•Generally has minimum of eight years of bank regulatory or private industry experience with at least three years of large bank experience.

•Has demonstrated advanced knowledge of market risk measurement/management and the associated technical issues.

•College degree in business, finance, economics or related field. Master’s degree preferred.

•Excellent oral and written communication skills.

•Strong analytical skills and technical skills.