Risk Specialist - Rbc Dedicated Supervisory Team

CompanyFederal Reserve Bank of San Francisco

We are the San Francisco Fed, public servants with a congressionally mandated mission to advance the nation’s monetary, financial, and payment systems to build a stronger economy for all Americans. We are a community-engaged bank, and we are committed to understanding and serving the vibrant, diverse people of the Twelfth District. That means we seek and appreciate new perspectives. We respect people for what they do and for who they are. We build opportunities to learn and grow. When you join the SF Fed, you become part of a team united in its purpose to promote an economy that works for everyone. We empower our people to balance their life and work responsibilities. That’s why we offer a flexible hybrid work model that allows you to collaborate with office colleagues on some days, and work from home on others.

We have an exciting opportunity to serve as a Risk Specialist on the Dedicated Supervisory Team (DST) that provides regulatory oversight of Royal Bank of Canada’s (RBC) Combined U.S. operations (CUSO). RBC is Canada’s largest bank and one of the top 10 banks in the world, based on market capitalization. The firm employs over 89,000 people, and serves 17 million clients across Canada, the U.S. and 29 other countries. The U.S. operations of RBC include significant commercial banking, investment banking, brokerage, consumer banking and wealth management activities.

In this role, your primary function is to be a key contributor to the DST’s evaluation and rating of the firm’s financial and operational resiliency. 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.

Essential Responsibilities:

• Develop and implement a strong supervisory program for evaluating RBC’s financial and operational resiliency in accordance with the Federal Reserve’s LFBO program requirements. More specifically:
• Develop supervisory strategies and propose supervisory plans for assigned coverage areas.
• Lead or participate in firm specific events and LFBO horizontal and coordinated reviews for the assigned coverage areas. Develop scope and objectives, implement exam procedures, engage Division and System partners and other regulators to consider broader perspectives, and develop supervisory products that provide well-supported conclusions.
• Conduct routine continuous monitoring activities, including MIS reviews and meetings with firm management to develop a deep and broad understanding of the firm’s strategies, risks and risk management practices. Perform timely and periodic risk analyses to determine the level and trend of risks and identify emerging issues. Incorporate internal and market-based surveillance data as well as peer practices into the ongoing supervisory assessment. Deliver well-supported supervisory products such as RCM summary memos and ratings assessments.
• Deliver clear supervisory messages to firm management that describe where the firm stands relative to supervisory expectations and required actions for addressing matters that require attention, as applicable.
• Contribute to the Capital, Liquidity and Governance and Controls ratings assessments under the LFI Ratings Framework, based on knowledge of relevant areas of the firm and results of supervisory reviews.
• Build and maintain an expanded level of knowledge and expertise in assigned coverage areas and related supervisory guidance, including existing regulatory requirements and guidance from relevant SR letters; proposed rules and guidance from the U.S. regulatory agencies; and standard methodologies identified during Federal Reserve horizontal reviews.
• Collaborate with other Risk Specialists on the DST, counterparts on other Dedicated Supervisory Teams and the Risk Specialist Team to develop a comprehensive understanding and opinion of RBC’s financial and non-financial risks and businesses.
• Build and maintain effective working relationships with internal partners (i.e., within the Division, across the System and at the Board of Governors) and with other regulatory agencies (OCC, FDIC, SEC, etc.)

Requirements:

• Bachelor’s degree in business administration, finance, economics, or other related field is preferred.
• Typically requires five or more years of direct supervisory or comparable banking, financial industry, or advisory experience in risk management, audit, Finance functions.
• Strong problem solving and analytical skills that support and enable sound decision-making; ability to synthesize large amounts of complex, disparate information to formulate well-supported views.
• Ability to listen and communicate clearly, logically, and persuasively at multiple levels in the organization and effectively articulate themes and conclusions both verbally and in writing.
• Ability to cultivate collaborative working relationships with a variety of key internal and external partners.
• Travel 10% or more for San Francisco based applicant, and up to 15% for non-SF based applicants.
• This position requires access to confidential supervisory information, which is limited to “Protected Individuals.” Protected Individuals include, but are not limited to, U.S. citizens and U.S. nationals, U.S. permanent residents who are not yet eligible to apply for naturalization, and U.S. permanent residents who have applied for naturalization within six months of being eligible to do so or who will sign a declaration of intent to apply for naturalization before they begin employment.

Preferred but not required:

• Advanced degree, equivalent work experience, professional certifications (CFA, FRM, CPA), and specialized degrees in related fields.
• An examiner commission from a federal or a state banking supervisory agency or the relevant experience and training required for entry into the Interim Examiner Commissioning Program for Large Financial Institution Supervision.
• Working knowledge of the Federal Reserve’s Consolidated Supervision Framework for Large Financial Institutions (SR 12-17), LFI rating (SR 19-3) and Reg YY.
• Broader knowledge of other financial and operational resiliency areas (e.g. credit, market, interest rate risk, liquidity, operational, compliance, management of business divisions).

#LI-Hybrid

Base Salary Range: Min: $138,400  Mid: $179,600  $220,900 (Location: San Francisco)

Final salary and offer will be determined by the applicant’s background, experience, skills, internal equity, and alignment with geographic and other market data.

At the Federal Reserve Bank of San Francisco, we offer a wonderful benefits package including Medical, Dental, Vision, Pretax Flexible Spending Account, Paid Family Leave Care, Backup Child Care Program, Pretax Day Care Flexible Spending Account, Vacation Days, Sick Days, Paid Holidays, Pet Insurance, Matching 401(k), and an unheard-of 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.

At the SF Fed, we believe 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. The SF Fed is an Equal Opportunity Employer.

The Bank's ethics rules 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.  Employees in the S+C group also must ensure there are no conflicts of interest related to their previous employment and current financial interests.  S+C employees may be subject to borrowing and deposit restrictions and may need to recuse themselves from certain supervisory work.  Please review Section 5.3 and Appendix B of the Bank’s Code of Conduct to ensure compliance with the Code of Conduct conflict of interest rules and personal investment restrictions.

Full Time / Part TimeFull time

Regular / TemporaryRegular

Job Exempt (Yes / No)Yes

Job CategoryBank Examination

Work ShiftFirst (United States of America)

The Federal Reserve Banks believe that diversity and inclusion among our employees is critical to our success as an organization, and we seek to recruit, develop and retain the most talented people from a diverse candidate pool. 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.

Privacy Notice