Company

Federal Reserve Bank of BostonWorking at the Federal Reserve Bank positions you at the center of the financial world with a unique perspective on national and international markets and economies. You will work in an environment with a diverse group of talented professionals to foster and support the safety, soundness, and vitality of our economic and financial systems. It is a challenge that demands the skills of a financial service professional and the intellectual curiosity of an academic - all combined with a passion for public service. The Boston Fed is one of 12 Reserve Banks and we serve all or parts of Connecticut, Maine,
​Massachusetts, New Hampshire, Rhode Island, and Vermont. Our mission is accomplished through our Bank's values: diversity, equity and inclusion, innovation, integrity, and leadership.

This job is eligible for a hybrid schedule with on-site work expected. The individual is excepted to reside in the 1st District unless you were given an exception.

The Dedicated Supervisory Team (DST) Deputy Lead is a critically important leadership role in the oversight of a large financial institution under Federal Reserve supervisory authority. The role combines technical, managerial and relationship management skills to positively affect supervisory strategy and outcomes at the supervised institution. The DST Deputy Lead position supports, and stands in when necessary for, the DST Lead. Through a strong understanding of regulations, guidance, and effective risk management practices and control processes, the position is responsible for guiding the Reserve System to an appropriate supervisory strategy for the supervised institution. With all of this and an ability to influence and establish ongoing and effective relationships with senior management of the supervised institution, the DST Deputy Lead will affect the desired actions on the part of firm leadership.

The DST Deputy Lead independently provides direct supervision to a team of examiners or professional employees. The DST Deputy Lead capably and effectively handles all aspects of staffing, including hiring, employee development, coaching, and feedback/performance management. The DST Deputy Lead interacts with senior management and boards of directors of supervised firms to influences changes that promote safe and sound banking practices.

Principal Accountabilities:

• Assists the DST Lead in developing and implementing an appropriate supervisory strategy, working closely with other Reserve System leaders to develop and implement a supervisory plan that targets the largest risks to the firm and broader financial stability.

• Continuously assesses the operating condition and control effectiveness of the assigned institution, directs the supervisory process, and provides excellent judgment and well reasoned decision making in a wide array of situations that may involve highly complex issues, public scrutiny, market reactions, and potentially adversarial circumstances.

• Develops effective relationships with senior management of supervised institutions and pertinent functional regulators to coordinate supervisory activities.

• Effectively communicates supervisory findings and concerns, both orally and in writing. Conducts the most sensitive meetings with senior management and directors of the supervised institution, successfully influencing their actions through strong relationship management, negotiation, and conflict resolution skills.

• Designs operational policies and procedures; demonstrates sound planning and time management skills; prioritizes work and resources to meet deadlines; appropriately delegates work to accomplish business objectives; is action‐oriented and drives for results; identifies and implements business process improvements/efficiencies.

• Maintains an advanced knowledge of emerging issues and ongoing developments in the supervision of large financial institutions as well as an advanced understanding of the current risk management practices in the financial services industry.

• Contributes to the understanding of salient risks and supervisory concerns through participation in activities such as local meetings, System conferences, or other formal and informal processes.

• Fosters a diverse set of perspectives to ensure varied viewpoints are appropriately considered when drawing supervisory conclusions.

• Provide direct supervision to a broad and diverse team with a considerable span of control of people and processes. Provide mentoring, coaching and training to other team members. Serves as a role model by playing a leadership role in promoting teamwork and in fostering a positive work environment. Provide constructive and applicable feedback to management, peers, and team members and assumes accountability for the resolution of issues.

• Ability to travel is required.

Other Accountabilities:

Perform other duties as assigned.

Supervision:

This position is typically required to supervise one or more employees.

Knowledge and Experience:

• Knowledge and experience normally acquired through, or equivalent to, the completion of a Master's degree and 15 years of work experience that demonstrates applicable technical knowledge and managerial skills, at least 3 of which include the management of others.

• Commissioned examiner credentials are preferred though not required (training will be provided, if needed, to complete examiner commission).

• Demonstrated success in evaluating a broad range of risk management and compliance programs, payment processing activities, custody services, investment management and servicing utilities, and resiliency of operations, including under stressful conditions.

• Demonstrated effective written and verbal communication skills, including the ability to communicate technical topics in concise terms that non-technicians can readily understand.
  

Our total rewards program offers benefits that are the best fit for you at every stage of your career:

• Comprehensive healthcare options (Medical, Dental, and Vision)

• 401K match, and a fully funded pension plan

• Paid vacation and holidays; flexible work environment, healthy workflow

• Generously subsidized public transportation

• Annual tuition reimbursement

• Professional development programs, training and conferences

• And more….

The Federal Reserve Bank is committed to a diverse, equitable and inclusive workplace and to provide equal employment opportunities to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, or military service.

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.

All employees assigned to this position will be subject to FBI fingerprint/ criminal background and Patriot Act/ Office of Foreign Assets Control (OFAC) watch list checks at least once every five years. All candidates must undergo an enhanced background check and comply with all applicable information handling rules.

The above statements are intended to describe the general nature and level of work required of this position. They are not intended to be an exhaustive list of all duties, responsibilities or skills associated with this position or the personnel so classified. While this job description is intended to be an accurate reflection of this position, management reserves the right to revise this or any job description at its discretion at any time.

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

Yes

Job Category

Supervisory/Management

Work Shift

First (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.

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