Assistant Community Regional Specialty Bank (CRSB)- Safety & Soundness

Federal Reserve System; Chicago (IL); On-site; USD 70,000 - 82,000; Full time

Benefits offered by this job

Comprehensive benefits package

Continuous learning environment

Job summary

Federal Reserve Bank of Chicago is seeking an Assistant CRSB Examiner to join the Supervision & Regulation team. The role begins with a rigorous 3–5 year Examiner Commissioning Program, blending on-the-job training and classroom instruction to prepare for commissioned bank examinations.

As part of the Regional & Community Supervision division, you will contribute to examinations of banks and holding companies across Chicago, Des Moines, and Detroit, building risk assessment and supervisory

Qualifications

• Bachelor’s degree or equivalent experience; coursework in Accounting, Economics, Finance, Public Policy or Business Administration preferred.
• Ability to understand risk-focused supervision and processes.
• Analytical and problem-solving skills.
• Strong critical thinking and decision-making with solid written and oral communication.
• Willingness to seek and accept coaching and feedback.
• Solid teamwork skills and ability to collaborate across teams.
• Ability to manage time and projects effectively amid changing priorities.
• Aptitude to leverage relevant technology and software applications.
• General business acumen.

Responsibilities

• Work with senior staff in full-scope examinations or inspections to assess institution condition, risk management, and compliance with laws during examinations or monitoring.
• Present findings and assessments to internal and external stakeholders under close oversight.
• Assist in developing and recommending actions to resolve basic issues.
• Create and provide basic reports, documents, and correspondence to stakeholders.
• Develop working relationships within the team, division, and department.
• Complete portions of the Examiner Commissioning Program and on-the-job training assignments.

Skills

Risk-focused supervision

Analytical thinking

Written and oral communication

Teamwork

Time management

Coaching receptiveness

Tech/software aptitude

Education

Bachelor's degree or equivalent experience

Job description

Company

Federal Reserve Bank of Chicago

The 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 Federal Reserve Bank of Chicago serves the Seventh Federal Reserve District comprising of a five-state region, including all of Iowa and most of Illinois, Indiana, Michigan and Wisconsin.

Supervision & Regulation Department

Supervision and Regulation (S&R) plays a critical role in The Federal Reserve Bank of Chicago’s core mission, supervising state-charted 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.

The Federal Reserve Bank of Chicago is looking for entry – level applicants with a strong desire to join our organization for our Examiner Commissioning Program. If you are interested in joining our Supervision function as an Assistant Community Regional Specialty Bank (CRSB) Examiner, please submit your resume and our Talent Acquisition Team will review your background and reach out if you meet the qualifications. We have teams in Des Moines, Detroit and Chicago carrying out exams in our Regional & Community Supervision (RCS) Division. Examiners in the RCS Division conduct examinations of regional and community bank and holding company performance based on financial condition, operational controls, risk management practices, and compliance with banking regulations. If you are a recent college graduate or have 1-3 years of experience with a background in Accounting, Banking, Finance, Public Policy, Economics, or Business, check out this exciting opportunity! As an Assistant CRSB Examiner at the Federal Reserve Bank of Chicago, you will participate in an intensive multi-year training program. This 3–5-year program combines on the job training with classroom training in preparation to become a Commissioned Bank Examiner.

The CRSB Supervision family provides supervisory oversight for financial institutions of varying complexities that have a close relationship with the communities they serve. Members of the CRSB job family generally conduct full scope or target examination and inspections of CRSB firms by working with different teams and staff across the department and through interaction with institution executives with broad responsibilities. The Assistant CRSB Examiner serves as a member of full scope point-in-time examinations or inspections. Level of work is generally considered entry level, and staff must be able to work under close to general supervision. This position has no direct reports.

Your Responsibilities:

• Works with senior staff members, in full scope examinations or inspections to assess the institution`s overall condition, risk management systems, and compliance with applicable laws and regulations during the examination process and/or through continuous monitoring
• Under close oversight, presents both orally and in written form findings and assessments concerning less complex supervisory matters to internal and external stakeholders
• Assists in developing and recommending actions and responses to resolve basic issues
• Creates and provides basic reports, documents, and other correspondence to internal and external stakeholders
• Develop working relationships within the team, Division and Department
• Completes portions of the core curriculum courses in the Examiner Commissioning Program (ECP), and on-the-job (OJT) training assignments

Your Background:

• Bachelor’s degree or equivalent experience. Coursework in Accounting, Economics, Finance, Public Policy or Business Administration preferred
• Possesses the ability to understand risk focused supervision and processes
• Demonstrates basic to intermediate analytical and problem-solving skills
• Demonstrates critical thinking and decision-making abilities as well as solid written and oral communication abilities
• Ability to seek and accept coaching and constructive feedback
• Possesses solid teamwork skills and the ability to build and work collaboratively within and across work teams
• Demonstrates the ability to manage time and projects effectively by adjusting quickly to new and different priorities
• Demonstrates aptitude to leverage relevant technology and software applications
• Possesses general business acumen

What we offer:

• Comprehensive benefits package, including medical, dental, vision, prescription drug coverage, 401k savings plan, retirement plan, paid time off and transit benefit.
• A continuous learning environment with opportunities to gain new skills and grow your career.

Location:

• This position requires presence at one of the 7th District offices—Chicago, Des Moines or Detroit.

Additional Requirements:

• Ability and willingness to travel 25%
• A valid Driver’s License is a requirement of the position
• The expected starting salary range for this position is between $69,700 and $82,400 annually in addition to annual performance-based discretionary bonuses. Final salary and offer will be determined based on the applicant’s relevant experience, skills, internal equity, and alignment with geographic and other market data.
• 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.
• 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.
• 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 document indicates the general nature and level of work performed by employees within this position. It is not a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job. An employee’s responsibilities, tasks, and duties might differ from those outlined in the job description, and other duties, as assigned, are a part of the job. The Federal Reserve Bank of Chicago reserves the right to modify the elements of this job description, as business needs require.

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.

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

No

Job Category

Supervision Family Group

Work Shift

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.