Legal & Compliance Risk Associate – Supervision Group

Company Details

Federal Reserve Bank of New York

Legal & Compliance Risk Associate – Supervision Group-253206
Federal Reserve Bank of New York
Primary Location

 NY-New York City
Full-time / Part-time

Employee Status

Overtime Status

Job Type


 Yes, 25 % of the Time

 Day Job

Area Overview:


The Large and Foreign Banking Organization (“LFBO”) Compliance Risk and Analytics Department of the Supervision Group is looking for qualified professionals to supervise the legal and compliance infrastructures of complex financial institutions

under the Federal Reserve’s supervision. Through its assessment of risk management practices at financial firms, the LFBO Compliance Risk and Analytics Department plays an important role in executing Federal Reserve safety-and soundness and financial stability objectives.

The Corporate Compliance Specialist will focus on understanding and evaluating the legal and compliance risks presented by the firms’ business models and adequacy of the compliance control framework for addressing such risks. The specialist will participate in and direct examinations of supervised financial institutions and is also expected to contribute to other examination, analytical, and policy work conducted by the LFBO Risk and Analytics Department. The risk specialist is expected to effectively interact with senior executives at supervised firms and with senior supervisors and FRS/FRB management, legal staff, and policymakers across agencies.


Role and Responsibilities:

  • Plan and conduct examinations to evaluate the legal and compliance risk management practices and determine compliance with relevant laws;
  • Assess the quality and effectiveness of an institution’s compliance programs in relation to the inherent risks of the institution, supervisory expectations, and sound practices;
  • Present findings to Federal Reserve and bank management and produce reports, memoranda and work papers in support of findings conforming to Federal Reserve expectations;
  • Develop a comprehensive understanding of laws and regulations pertinent to corporate compliance expectations of the largest and most complex financial institutions;
  • Develop a strong familiarity with pertinent literature used by industry practitioners;
  • Develop subject matter expertise in the identification and management of risks posed by individual business lines, products, or services;
  • Participate in or lead other examinations and special projects, perform analyses, and assist in the development of supervisory policy, as needed;
  • Collaborate with other regulatory agencies and with internal Federal Reserve stakeholders, such as legal and supervisory personnel; and
  • Depending on experience, lead and manage individuals and projects; provide meaningful performance feedback, and provide training and coaching to junior examiners

Qualifications and Education Requirements:

  • Minimum of five-years of experience working in any of the following roles: financial institution compliance department; compliance consultant in the financial services industry; auditor; or bank examiner.
  • Experience with relevant laws and regulations and strong knowledge of compliance risk management practices and/or bank operations of large banking organizations are a plus;
  • Bachelor’s degree; relevant advanced degrees including CPA, MPA, MBA or JD are a plus

Preferred Skills:

  • Strong critical thinking, analytical and decision making skills;
  • Strong written and oral communication skills, with the ability to deliver written and oral messages confidently and accurately;
  • Strong negotiation skills and ability to build collaborative relationships;
  • Flexibility to adapt to new situations and work sites, including ability to travel and ability to function effectively and independently in a dynamic and evolving work environment;
  • Strong prioritizing, planning, and organization skills; and
  • Public service orientation a plus.

The Federal Reserve Bank of New York is committed to a diverse workforce and to providing equal employment opportunity to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, or military service.