- Project Management
- Analysis Skills
- Regulatory Reporting
- Supervising Experience
- Risk Management
Operational Risk Specialist - MUFG Supervisory Team-258477
Federal Reserve Bank of San Francisco
Primary Location CA-San Francisco
Full-time / Part-time Full-time
Employee Status Regular
Overtime Status Exempt
Job Type Experienced
Travel Yes, 50 % of the Time
Shift Day Job
Job Sensitivity Tier II - Credit Check
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.
An excellent opportunity to play a key role in the execution of a strong supervisory program on the Federal Reserve Bank of San Francisco’s dedicated supervisory team that provides regulatory oversight of Mitsubishi UFJ Financial Group (MUFG). MUFG is headquartered in Tokyo, Japan and is one of the largest banking organizations in the world. U.S. operations of MUFG include significant commercial banking, investment banking, brokerage, and asset management activities. As an Operational Risk Specialist, your primary role is to monitor and evaluate operational risk at MUFG.
The position emphasizes ongoing monitoring and assessment of MUFG’s operational risk across several areas: information technology (IT), cybersecurity and data management; and risk relating to other banking & financial services such as payments systems, third party vendor management, regulatory reporting and brokerage / treasury operations. You will become a key member of the dedicated team in the development and execution of a supervisory strategy for the above coverage areas and the program at MUFG more broadly.
You should possess expertise in technology, information security, data and data governance, and cybersecurity risks. As well, a strong working background in enterprise risk management, corporate governance, and project management in a large bank environment is an essential complement to providing a robust supervisory assessment. Finally, you should have ability to collaborate with other risk specialists covering operational, credit, market, liquidity, legal and compliance and other risks as part of the dedicated supervisory team coverage model.
The Operational Risk Specialist will be employed by the Division of Financial Institution Supervision and Credit as part of the Federal Reserve’s national program for Large Foreign Banking Organizations (LFBOs). MUFG is subject to enhanced prudential standards under the Dodd Frank Act and SR Letter 12-17. The supervisory framework for the LBO and FBO program focuses on two objectives:
Improving the resiliency of a firm to lower the probability of its failure or inability to serve as a financial intermediary.
Reducing the impact on the financial system and the broader economy in the event of a firm’s failure or material control weaknesses.
Support the Central Point of Contact (CPC) in the development and execution of a strong supervisory program at MUFG in accordance with the Federal Reserve System’s Large Foreign Banking Organizations Management Group program requirements.
Build and maintain an advanced level of expertise in operational risk: project management, execution risk, information systems risk management, vendor risk management, cybersecurity, business continuity, and data management. Maintain a deep understanding of current industry trends, effective risk measurement and management practices, and emerging concerns that may impact MUFG’s operational risk profile in the U.S.
Monitor and evaluate developments impacting MUFG’s operational risk profile through in-depth review and analysis of internal management reports and regular interaction with MUFG’s management.
Lead target reviews and examinations, which includes development of scope and objectives; execution of related procedures; engagement of System and Division risk groups to consider broader perspectives; and production of products that provide well-supported safety and soundness conclusions.
Assist in other planned supervisory events such the annual roll-up inspection and coordinated reviews with specific emphasis on effective and timely engagement with Horizontal examination teams and System resources in arriving at well-supported supervisory assessments
Ensure timely delivery of high quality supervisory work products where required.
Enable strong interagency coordination through collaborative work with other supervisors (OCC, FDIC, BCFP, etc.) and other internal partners (i.e. within the division, Board of Governors).
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 is preferred
Minimum four years of direct or comparable regulatory, financial industry, consulting, and/or banking experience with a focus on operational risk. 10 or more years for senior level.
Ability to cultivate good working relationships with a variety of key partners.
Strong analytical, written and verbal communication skills.
Ability to synthesize high volumes of information to formulate well-supported and concise views.
Travel is required (up to 50%)
Position subject to rotation after a term of 5 years
Candidate should be able to demonstrate the following Behavioral Competencies: Critical Thinking, Collaboration, Influence, Achievement, and Innovation.
Graduate degree, equivalent work experience, professional certifications, and specialized degrees in related fields are desirable but not required.
An 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.
Knowledge of large bank supervision and familiarity with the Federal Reserve’s Consolidated Supervision Framework for Large Financial Institutions.
The Federal Reserve Bank of San Francisco is an Equal Opportunity Employer