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Years of Experience
Date Last Verified
Legal and Compliance Risk Associate The candidate 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. 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. 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. Must have 5+ 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. Public service orientation a plus.
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