CompanyFederal Reserve Bank of San FranciscoThe FRBSF's Supervision and Credit Division supervises financial institutions and service providers to financial institutions in the western United States. Our mission is to ensure a safe, sound, and accessible financial system. Under delegated authority from the Board of Governors, the FRBSF provides regulatory oversight of SVB Financial Group (SVBFG). SVBFG reported $142 billion in total assets as of March 31, 2021 and will become a new entrant into the Federal Reserve's Large and Foreign Banking Organizations (LFBO) program subject to tailored Category IV Dodd-Frank Act (DFA) Enhanced Prudential Standards (EPS). SVBFG is headquartered in Santa Clara, CA, and provides financial services to clients in the emerging technology and private wine industries. The organization's primary focus is serving clients engaged in creating/sustaining innovation with industries including hardware, software, fintech, life science/healthcare, and clean energy, while cultivating strong global relationships with venture capital and private equity firms.
The FRBSF's SVBFG dedicated supervisory team has an opening for a risk specialist, covering Earnings Quality (level, strategy, budgeting, forecasting/stress testing), Current Expected Credit Loss (CECL) Methodology/Adequacy, and Surveillance Analysis. As part of the Federal Reserve's LFBO program, the position reports to the SVBFG Financial Resiliency Manager on a team of risk specialists responsible for the assessment of SVBFG's Capital and Liquidity components under the Federal Reserve's Large Financial Institution's Rating Framework, as well as the assessment of various rating components under the interagency CAMELS rating framework. The incumbent will lead the development and execution of a strong supervisory program that incorporates innovative surveillance data analysis for evaluating Earnings Quality and CECL Adequacy. It also includes a comprehensive understanding of firm practices in these areas, acting as Examiner-in-Charge of related supervisory events, conducting horizontal and coordinated reviews, and routinely interacting with internal and System-level colleagues, other regulators, and the firm's senior management and staff. The role is responsible for assigning the subsidiary bank Earnings rating, determining CECL adequacy, and contributing to the assessment of risk management and governance and controls regulatory ratings. This is an exciting time to be a part of the SVBFG supervisory team as the firm transitions to a DFA EPS Category IV firm and becomes subject to heightened regulatory scrutiny.
This role is considered an internal rotational position of generally five years with the expectation that the hire will remain in the role for a minimum of three years.
- Lead the supervisory assessments of Earnings Quality, CECL Adequacy, and Internal/Market-based Surveillance Data, and use knowledge of relevant areas of the firm and results of supervisory reviews to draw sound conclusions and support overall ratings;
- Develop and execute a strong risk-focused supervisory program for evaluating earnings quality, CECL adequacy, and surveillance data in accordance with the LFBO Management Group's program requirements;
- Define and conduct ongoing risk-focused supervisory activities, including MIS reviews and leading routine meetings with SVBFG 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;
- Develop creative approaches for evaluating coverage areas and related risk management practices relative to peer companies. Devise methods to efficiently incorporate internal and market-based surveillance data into the ongoing supervision process.
- Deliver clear supervisory messages to SVBFG management that describes where the firm stands relative to supervisory expectations and required actions for addressing matters that require attention, as applicable;
- Collaborate with other risk specialists on the team and California Department of Financial Protection and Innovation (DFPI) examiners to develop a comprehensive understanding of SVBFG's financial risks and businesses;
- Demonstrate agility and leadership through ability to cover other risk topics not specifically captured in areas of coverage, based on team need;
- Build and maintain effective working relationships within the team, with peers, within FRBSF, the Federal Reserve System, with other regulatory agencies (especially the DFPI), and with the supervised firm;
- Ensure high quality and timely completion of required supervisory work products and perform quality control to ensure compliance with local policies/procedures and System requirements: and,
- Interpret regulatory guidance and evaluate the potential impact on the firm's safety and soundness. Maintain an awareness of potential changes to key rules, laws and regulations, and supervisory policies as applicable to SVBFG.
- An applicant for employment must be a U.S. Citizen, U.S. National, or hold a permanent resident/green card with intent to become a U.S. Citizen;
- Bachelor's degree in business administration, finance, economics, or other related field is required; advanced degree and/or professional certifications (CFA, FRM, CPA) is preferred;
- An active examiner commission from a federal or state banking supervisory agency or the relevant experience and training required for entry into Interim Examiner Commissioning Program for Large Financial Institution Supervision is preferred;
- Five or more years of direct supervisory or comparable banking, financial industry, or banking supervision experience in relevant activities, such as: capital markets, stress testing, and CAMELS ratings;
- Working knowledge of relevant supervisory standards on forecasting/stress testing and CECL at large financial institutions, as well as experience with the Federal Reserve's Consolidated Supervision Framework for Large Financial Institutions and LFI rating (e.g. SR 12-17 & SR 19-3) is preferred;
- 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;
- Strong problem solving and analytical skills that support and enable sound decision- making, and the ability to synthesize large amounts of complex, disparate information to formulate well-supported conclusions;
- Experience evaluating a variety of risks facing complex financial institutions, and the ability to identify prudent practices for managing those risks;
- Capacity to pursue multiple initiatives at the same time and deliver successful outcomes;
- Ability to travel at least 15 percent (additional travel up to 50% if located in Los Angeles or Salt Lake City); and,
- A consistent track record of performance in technical and behavioral competencies. Primary behavioral competencies to be evaluated include: Leadership, Emotional Intelligence, Critical Thinking, Accountability, Collaboration, Development, Influence, and Innovation.
We offer a wonderful benefits package including: Medical, Dental, Vision, Pre-tax Flexible Spending Account, Backup Child Care Program, Pre-Tax Day Care Flexible Spending Account, Paid Family Care Leave, Vacation Days, Sick Days, Paid Holidays, Pet Insurance, Matching 401(k), and a Retirement / Pension.
***Effective October 1, 2021, all employees must be fully vaccinated against COVID-19 or qualify for an accommodation from the Bank's vaccination policy; the Bank will provide accommodations as required by law for individuals unable to be vaccinated due to medical condition or sincerely held religious belief.
The Federal Reserve Bank of San Francisco believes 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.
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.
The Federal Reserve Bank of San Francisco is an Equal Opportunity Employer.Full Time / Part TimeFull timeRegular / TemporaryRegularJob Exempt (Yes / No)YesJob CategoryBank ExaminationWork 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.
The Federal Reserve Bank of San Francisco is an Equal Opportunity Employer. Our people reflect the diversity and the ideas of the community we serve.