Vice President, Quantitative Supervision & Research (Finance)
Company
Federal Reserve Bank of RichmondWhen you join the Federal Reserve—the nation's central bank—you'll play a key role, collaborating with a dynamic and diverse team of mission-driven professionals to strengthen and protect our economy and our communities.Bring your passion and expertise, and we'll provide the opportunities that will challenge you and propel your growth—along with a wide range of benefits and perks that support your health, wealth, and life. In addition to competitive compensation, we offer a comprehensive benefits package that includes tuition assistance, generous paid time off, top-notch health care benefits, child and family care leave, professional development opportunities, a 401(k) match, pension, and more. All brought together in a flexible work environment where you can truly find balance.
The Vice President of Quantitative Supervision and Research oversees a team of 40+ financial economists and quantitative specialists that are responsible for supporting the Federal Reserve System's (System) supervision and regulation efforts through contributions to Supervisory Stress Testing, examination support, risk analysis, surveillance model development, and banking-related research. The position is a senior leadership role within the Federal Reserve Bank of Richmond's (Bank) Supervision, Regulation, and Credit (SRC) and comes with the responsibility of informing strategic plans to help the Bank and the System achieve their respective goals, developing staff and succession plans for key leadership positions, and serving as a thought leader to other divisions within SRC.
This position is considered an officer level role, requiring capabilities, experiences, and skills commensurate with leading a diverse group of managers and individual contributors; interacts with peers throughout the System; serves on significant System Supervision committees; periodically leads or serves on System projects; and influences internal and external parties.
If you possess the requisite skills, industry expertise, and collaborative leadership experience, we invite you to apply and be a key leader in shaping the strategic future of supervision and modeling at the Federal Reserve.
The following job descriptions details the requirements for a Vice President.
What You Will Do:
Strategic Leadership
Provides strategic direction to System stress testing operations and local research initiatives.
Consistently identifies opportunities to leverage the Reserve Bank's skills and talent at the System level.
Maintains awareness of System initiatives and contributes Fifth District resources, when appropriate.
Develops research strategies for banking and supervision related topics, directs, and participates in this high-quality research, and develops staff's research abilities.
Ensures the appropriate implementation of new System guidance.
Collaboration
Directs quantitative supervisory strategies and collaborates with System colleagues.
Interfaces with System management and staff to keep them informed of SRC's work.
Develops, maintains, and enhances relationships with staff and key stakeholders within the Bank, Federal Reserve Banks, Board of Governors of the Federal Reserve System (BOG), other agencies, and academics.
Creates, maintains, and expands a network of people to collaborate with, help influence, and promote the work of the Quantitative Supervision & Research function.
Effectively communicates with all levels of the organization, Reserve Bank colleagues, BOG staff, and other stakeholders to advance the work and knowledge of the Quantitative Supervision & Research function.
Works with other SRC business units and contributes quantitative resources, when appropriate.
Connects with the academic community and helps promote SRC's reputation.
Interfaces with Bank, System, and BOG management to develop coordinated quantitative strategies.
Team Leadership
Develops, coaches, and assesses managers to ensure they have effective leadership behaviors to prepare them for larger leadership roles.
Fosters an inclusive environment and cultivates innovation, openness, and collaboration.
Participates in or leads System, Reserve Bank, or functional initiatives, committees, and project teams.
Fulfills job duties and responsibilities in conformance with sound safety practices.
Qualifications
Requires PhD in economics or finance or master's degree in like discipline or with material work experience in leadership roles over quantitative activities.
Minimum of 10 years' management experience with 12 years' overall experience strongly preferred.
Prior experience in the financial services industry or bank supervision required.
Proven record of high-quality research and model development.
Demonstrated leadership ability on a Reserve Bank, System, or industry level.
Strong supervisory modeling and research fundamental knowledge with a well-rounded understanding of high-quality research strategies and information integrity standards.
Executive level business acumen, leadership skills, and a demonstrated ability to lead a multifunctional complex organization is required.
Ability to integrate the strategic values, direction, and goals of the Bank into business process and staff development is required.
Demonstrated the following leadership attributes on a Bank, System, or industry level:
Leads with a strategic, action-oriented mindset that is focused on performance, accountability, and outcomes.
Drives results that are beneficial to System and local efforts (demands).
Is a role model and serves as an active talent champion, coach, mentor, and connector.
Engages in intellectual curiosity, agility, and experimentation to drive innovation.
Builds trust and serves as a helpful and contributing colleague.
Embraces and demonstrates a growth mindset including the new principles and practices as the future of work evolves.
Discover the Reason Why So Many People Love It Here!
When you join the Richmond Fed, not only will you find a challenging and purposeful career, you'll also have access to a wide range of benefits and perks that support your health and wealth, including:
· Great medical benefits
· Pension and 401(k) with employer match
· Paid time off
· Tuition reimbursement
· Employee resource networks
· Paid volunteer leave
· Flexible work options
· Onsite amenities that make working here fun!
Other Requirements and Considerations:
Candidates should review the Bank's Employee Code of Conduct to ensure compliance with Conflict-of-Interest rules and personal investment restrictions.
If you need assistance or an accommodation due to a disability, please notify rich.recruit@rich.frb.org.
Employees who work at and/or visit another Federal Reserve entity or outside business as part of their job duties are required to comply with any onsite safety and health protocols of those organizations (including, but not limited to, requirements to vaccinate or test, mask, social distance, etc.).
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 an enhanced background check 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.
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.
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Please review Bank's Employee Code of Conduct to ensure there are no major issues related to your previous employment and current financial interests (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's job responsibilities.
The hiring range of the VP Quantitative Supervision & Research is $250,600.00 – $344,520.00 annually.
Salary offered will be based on the job responsibilities and the individual's knowledge, skills, and experience as defined in the job qualifications.
The Fifth District provides a hybrid work environment. This position is required to be onsite on Tuesday, Wednesday, and Thursday each week.
Interested candidates are strongly encouraged to apply by November 17th, 2024. Applications are reviewed on a rolling basis.
Always verify and apply to jobs on Federal Reserve System Careers or through verified Federal Reserve Bank social media channels.
Full Time / Part Time
Full timeRegular / Temporary
RegularJob Exempt (Yes / No)
YesJob Category
ExecutiveWork 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.
Always verify and apply to jobs on Federal Reserve System Careers (https://rb.wd5.myworkdayjobs.com/FRS) or through verified Federal Reserve Bank social media channels.
