Vice President - Statistics, Credit & Reserves (SCR) (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.
About the Opportunity
The Statistics, Credit Risk Management and Reserves (SCR) division has an immediate opening for a Vice President. The Vice President is responsible for a team that includes approximately 57 people. This is an officer role. The position reports directly to the Executive Vice President of Supervision Regulation and Credit (SRC) and is a member of SRC's Senior Leadership Group (SLG).
The successful candidate will be responsible for the strategic direction and oversight of SCR. This includes ensuring that the direction of the function is in alignment with the strategic direction set by the Board of Governors Function Management for both Statistics and Reserves, as well as the strategic direction set by the System's Credit Risk Management Support Office (CRMSO). The Vice President (VP) of SCR has a significant span of control with a high degree of organizational impact, risk management responsibilities, and accountability for the Fifth District and Federal Reserve System. Actively contributing to the System's related priorities through senior leadership committees and workgroups is expected of this role.
Locally, the Vice President is responsible for establishing expectations and providing coaching and feedback to their team members. This individual is also responsible for the career development of their direct reports and for overseeing career development for members of the team. The Vice President is also responsible for ensuring team members' compliance with Unit, Department, Reserve Bank and System policies and procedures. The preferred location for this role is Richmond, VA.
What You Will Do:
Working through team members, oversees the analysis of financial and organizational structure data gathered from Foreign and Domestic Depository Institutions (Banks, S&Ls, Credit Unions); Bank Holding and Savings and Loan Holding Companies; Nonbank Subsidiaries (ex: mortgage, insurance, etc.) Provides insights for effective compliance monitoring, financial reporting and regulatory oversight.
Talent development: Provide leadership and manage/coach direct reports including setting priorities, reviewing work products, developing talent, and succession planning.
Working through team members, collects and analyzes financial data used by the Board of Governors, the Federal Reserve Bank of New York and the Federal Reserve Bank of Richmond to monitor the financial condition of consolidated bank holding companies; gathers and reviews data used for supervisory stress testing and systemic risk measurement.
Oversees the local collection, analysis and maintenance of organization structure and activity information to support banking regulation and the coordination of mergers involving Fifth District depository institutions.
Provides oversight of the condition monitoring function which is charged with minimizing the risk of loss to the Federal Reserve and U.S. Treasury from weak or failing depository institutions (DIs), and more generally, avoiding losses that undermine the integrity of the payment system or the credibility of the Federal Reserve. Condition monitoring provides insight into the safety and soundness of all DIs within the District that access, or may access, services provided by the Federal Reserve.
Administers the Federal Reserve's Policy on Payment System Risk for DIs including include monitoring and counseling DIs that incur daylight overdraft policy violations or overnight overdrafts in their Federal Reserve accounts
Oversees the collateral function that onboards financial institutions participating in the Borrower-in-Custody program, assesses risks associated with the institution's collateral during its on-site reviews and analyzes and determines the eligibility of assets (both loans and securities) submitted for pledge to the Reserve Bank.
Responsible for the Discount Window which provides extensions of credit including overnight credit and to help relieve liquidity strains in a depository institution and in the banking system as a whole. The discount window also helps ensure the basic stability of the payments system more generally by supplying liquidity during times of systemic stress.
Assists in the implementation of monetary policy through monitoring of reserve accounts and remit interest on balances held at the Bank; informs Open Market operations by providing daily information to System entities.
Works with Credit Risk Management AVP and team members to strategically plan and execute the Reserve Bank's Discount Committee (including the Reserve Bank president) discussions and information needs.
Collects and analyzes District financial institution deposit and credit related reports to measure deposit liabilities and vault cash held by depository institutions and credit conditions in the banking industry; collects and analyzes regulatory reports used to monitor the financial condition of institutions for supervisory purposes.
Supports financial and structure analysts with web and cloud-based applications for data and structure analysis ensuring compliance with Bank and System information security and contingency requirements. Leads, participates in and contributes to System level committees covering the Statistics, Credit Risk Management and Reserves functions.
Qualifications
A Bachelor's degree in business, economics, or a related field. A Master's degree is preferred.
Significant leadership experience (minimum of 7-10 years) in management; significant experience leading multiple, large, cross-functional teams in complex environments (virtual, remote, multi-site, etc.)
Approximately 25% travel is required
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.recruitment@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 for this Vice President role is $223,000 to $278,000 annually.
Salary offered will be based on the job responsibilities and the individual's knowledge, skills, and experience as defined in the job qualifications.
Interested candidates are strongly encouraged to apply by Friday, June 20, 2025. 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.
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First (United States of America)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.
