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.

Job Summary:

SRC 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.

Principal Duties and Responsibilities:

An examiner participates as a member of a point-in-time supervisory event team, as an Examiner-in-Charge (EIC) of a supervisory event, and/or as a member of a dedicated supervisory team for a specific financial organization or group of financial organizations. Examiners are involved in the direct supervision of financial organizations of various sizes and complexity. An examiner conducts analyses, assesses compliance with laws and regulations, evaluates consumer compliance and CRA practices; assesses risk management systems, and communicates findings and assessments to various internal and external stakeholders, including senior bank management and boards of directors. The level of work required is generally considered intermediate to complex. The individual may have advanced skills in one or more disciplines.

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 financial organizations.

• Assessing financial organizations' compliance with all applicable laws and regulations; assessing 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:

An Examiner generally performs the duties below for moderately complex to complex situations or financial organizations.

Leads and participates in supervisory events for SMBs, bank- and non-bank subsidiaries, trust departments, service providers, BHCs and SLHCs.

Serves effectively as an EIC to ensure the successful completion of a supervisory event, including assessment of the financial organization's overall condition, risk management systems, and compliance with 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.

• Scope, organize, and control supervisory event activities; supervises assigned staff; develops institutional profiles, risk assessments, supervisory plans, and scope memoranda; prepares a comprehensive supervisory event report within a scheduled time frame; discusses conclusions with the senior management of the financial organization and, when necessary, its board of directors.
• Provides feedback on the supervisory event team's performance when acting as EIC.
• Serves a key role in ongoing supervision activities when assigned as dedicated EIC or similar risk specialty.

Determines the adequacy of a financial organization's risk management systems for identifying, measuring, monitoring and controlling risk in various specialty areas.

• Assesses a financial organization's internal controls, including internal audit, policies, procedures, and risk monitoring systems.

• May be involved in assessing information security and cyber security risks associated with information technology operations, electronic banking activities and management information systems.

Assesses financial organizations' compliance with all applicable laws and regulations; assess financial organizations' consumer compliance risk management program, compliance with applicable consumer protection laws and regulations, and performance under the CRA.

• Assesses the quality of management and boards of directors.
• Interprets information and review data in order to make decisions, establish priorities, and develop hypotheses to facilitate the understanding of events and circumstances, making projections to forecast trends.
• Gathers and organizes information, derives sound analyses, conducts thorough and accurate work, supports findings and conclusions, makes recommendations and decisions, and follows up as appropriate.

Develop and communicate findings, recommendations, ratings and supervisory actions for moderately complex to complex supervisory issues to internal and external stakeholders.

• Conduct briefings on financial organizations and/or situations on a regular and ad hoc basis for internal and external stakeholders, including Board of Governors' staff.

• Begin to develop relationships with supervisory personnel at the Board of Governors' and other Reserve Banks, as well as with senior management and directors of supervised financial organizations to ensure thorough evaluation and the communication of supervisory event issues.
• Participates in department and System-wide initiatives, including, but not limited to, working with staff from other Reserve Banks, the Board of Governors' and other regulatory agencies.
• Serves as a mentor and coach, providing constructive feedback to staff at all levels.
• Completes other special projects or tasks as assigned.

Subordinates:

None

Scope Measurements:

NA

Education and Experience:

A bachelor's degree is required; a major in business, economics, finance, accounting, law or a related field is preferred. Five or more years of direct or comparable banking, financial or other industry, or banking supervision experience.

This level is the first at which the incumbent is commissioned by the Board of Governors' to act as EIC for Safety and Soundness or Consumer Compliance (CC) supervisory events. In order to receive this commission, the incumbent must complete the required Commissioning Program, pass the required commissioning testing, and demonstrated mastery of the skills and competencies required of a commissioned examiner.

Knowledge and Skills:

Job Knowledge: possesses and applies both specific and broad-based knowledge including principles, practices and procedures of a field of specialization toward completing assignments.

• Demonstrates a comprehensive understanding of supervisory processes as well as banking processes and products.

• Identifies and differentiates between critical and non-critical supervisory issues and effectively communicates critical issues to internal and external stakeholders both verbally and in writing.

Supervisory event / Project Management: organizes and manages work in such a way that an assignment or supervisory event is completed within the defined scope and time constraints, and demonstrates the ability to effectively lead a team.

• Develops supervisory event/project plans, timelines and milestones for supervisory events of moderate to high complexity and acts to ensure plan goals are achieved.

• Assigns work and tasks to supervisory event team and coordinates completion of supervisory event deliverables.

Analytical: demonstrates advanced analytical and problem solving skills, independent and critical thinking, and decision making abilities.

Communication: exhibits strong written and oral communication skills.

• Under limited oversight, presents both orally and in written form findings and assessments concerning moderately complex to complex supervisory matters or financial organizations to internal and external stakeholders.

• Conveys opinions, draws conclusions and offers persuasive arguments in a written format befitting the audience and the intended message

Relationship Management: demonstrates the ability to effectively lead a team. Demonstrates flexibility and the ability to make adjustments as needed.

Physical Requirements:

Ability to sit, enter data, and verify data at the Personal Computer (PC) for extended periods of time.

Other Requirements:

Background investigations including drug testing are required for all new hires as a condition of employment, after the job offer is made. Employment may not begin until the Bank accepts the results of the background investigation.

The Federal Reserve Bank of Philadelphia believes 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 Bank of Philadelphia is proud to be an equal opportunity workplace.

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 hold a permanent resident/green card with intent to become a U.S. Citizen.