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Large Bank Deputy Central Point of Contact

RichmondFederal Reserve Bank (FRB)

Large Bank Deputy Central Point of Contact
(Capital One Financial Supervisory Team)
Requisition #251023

The Supervision, Regulation & Credit (SRC) Department, Large Financial Institutions (LFIS) unit has an immediate opening for a Large Bank Deputy Central Point of Contact (Deputy CPC) for the Capital One (COF) supervisory team. This role will have managerial responsibilities for four direct reports as well as direct responsibilities for elements of the supervisory program.

The successful candidate will support the CPC and will work in partnership with the team's other Deputy CPC in the design and execution of the supervision of the institution according to the program requirements established by the Board of Governors and the Large and Foreign Banking Organizations (LFBO) Management Group. This is accomplished by the activities of an assigned team of experienced examiners as well as risk and topical specialists housed outside of the LFIS Unit, establishing partnerships with other regulatory authorities, and communicating activities and results to a variety of constituencies including Reserve Bank and System senior management. The Deputy CPC is expected to remain current on all significant issues at the supervised firm, on the team, and in the LFBO portfolio, similar to the CPC.

The Deputy CPC will establish ongoing and productive relationships with senior management of the institution supervised and will routinely participate in supervisory work/assessments vetting sessions with senior System personnel and actively communicate deficiencies in risk management practices and emerging risk issues to senior Reserve Bank management as well as to appropriate members of Board of Governors staff. The successful candidate possesses significant expertise in two or more risk areas and is a recognized leader who will help formulate and suggest appropriate regulatory responses to the risks posed by the institution. The Deputy CPC must continually remain aware of and contribute to the understanding of industry-wide risk exposures and their assigned institution's risk position relative to these national profiles.

The Deputy CPC will work in partnership with the team's other Deputy CPC to oversee a portion of the LFBO team (total supervisory team size is 10 FTEs) and will be responsible for establishing expectations and providing coaching and feedback to direct reports as well as those assisting them. The Deputy CPC will also be responsible for enabling career development for individuals on the dedicated team and for facilitating development of those outside the team through exposure to the assigned institution. The LFBO Deputy will be responsible for ensuring compliance of assigned team members with Unit, Department, Reserve Bank and System policies and procedures. The Deputy will develop highly skilled staff, including overseeing product content and quality, ensuring increasing depth in expertise, and providing timely and candid feedback and coaching to direct reports.

The position can be located in Richmond, VA, Baltimore MD, or Charlotte, NC.

Specific Job Responsibilities (include but are not limited to the following):
  • Support the CPC, and act as a back-up in his/her absence, to ensure appropriate supervision of the assigned institution by working with the supervisory teams, along with various District and System Resources and stakeholders.
  • Understand material control and risk issues at the supervised firm.
  • In partnership with the CPC, develop key supervisory products (risk assessments, supervisory plans, quarterly summary reports, and annual rating assessment) consistent with LFBO expectations.
  • Identify and prioritize areas of supervisory focus, including ongoing supervision, examination, System-driven work, and partner with other regulators.
  • Participate in vettings with senior System personnel for supervisory products, leading or supporting the discussions for the onsite supervisory team.
  • Conduct continuous supervision which includes holding periodic meetings with institution management and counterparts at other agencies and reviewing reporting to maintain knowledge of emerging issues and the current risk profile. May also lead and/or participate in target inspection work.
  • Maintain an ongoing understanding of emerging issues, trends and key supervisory developments in the supervision of the banking organization and other large complex banking organizations.
  • Oversee the target inspection process related to assigned portfolio including ensuring appropriate resources (skill level and quantity) and reviewing scope memos, conclusion memos, and correspondence to the institution.
  • Coordinate communication, both oral and written, of specific supervisory findings and concerns to the institution's senior management and directorate, local Reserve Bank senior management, the Board of Governors and Board staff, and appropriate parties within the LBO program.
  • Contribute to key policy development, including researching industry and risk issues. Identify and contribute to resolution of emerging risk issues. Surface issues that have a potential financial stability or systemic risk impact.
  • Contribute to and periodically lead System workgroups and affinity groups and/or SRC Department workgroups.
  • Provide leadership and manage direct reports; including setting priorities, ensuring accountability, reviewing work products, facilitating talent management and succession planning, understanding motivation (learning, reward/recognition), assessing development needs, demonstrating values (team and individual) and delivering coaching/development (to ensure continuous development of skills/competencies and talent pipeline).
  • Serve as a partner to direct reports by providing career development coaching and resources and identifying development needs with team members. Facilitate professional development for dedicated team members.
  • Encourage team members to contribute to cross-institutional and market monitoring efforts.
    Participate in the prioritization of resources across competing departments, as well as System supervision and policy priorities.
  • Convey goals and policies of the LFI Unit, the SRC Department, the Bank, and the System and facilitate communication and compliance within dedicated team.
  • Contribute actively to the development of policy and practice for the LFI Unit, SRC Department and Bank management meetings.

***The hiring range is $126,774 - $158,468, annually.
***Salary offered will be based on the job responsibilities and the individual's knowledge, skills, and experience as defined in the job qualifications/experience.
***The deadline for applying on line is August 7, 2017.
***The selected candidates are subject to special background check procedures.

Special Considerations:
  • An applicant posting for employment as a Federal Reserve examiner/analyst must be a U.S. citizen or hold a permanent residence visa/Green Card and be an intending citizen.
  • 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 institution 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 COF examinations.
  • Please review the FRB Employee Code of Conduct to ensure there are no major issues related to your previous employment and current financial interests. (The Code is available on the About Us, Careers webpage at .; the relevant sections are 5.3 and Appendix B, Parts I, II and III).

FRB ethics rules generally prohibit employees and their immediate families from owning investments in banks, savings associations or their holding companies (Section 5.3). Additionally, employees engaged in Supervision and Regulation may be subject to borrowing and deposit restrictions. These employees may need to recuse themselves from certain supervisory work based on:
    • their borrowing relationships (Appendix B Parts I.1, II.1 and II.2),
    • if a financial institution employs a member of the employee's immediate family (i.e. spouse, child, parent, or sibling) (Appendix B Part I.3 and Part II.3),
    • if the individual was employed by the financial institution or affiliate within the past 12 months (Appendix B Part I.3 and II.3).

In certain cases, the recusal may be so extensive it could materially reduce the effectiveness of the prospective employee.

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