Overview

Company

Federal Reserve Bank of Chicago

The Federal Reserve Bank of Chicago is looking for entry – level applicants with a strong desire to join our organization for our Examiner Commissioning Program. If you’re interested in joining our Supervision function as an Assistant Community Regional Specialty Bank (CRSB) Examiner, please submit your resume and our Talent Acquisition Team will review your background and reach out if you meet the qualifications.

We have teams in Chicago, Detroit, and Des Moines carrying out exams in both our Consumer Compliance & Supervisory Operations (CCSO) Division and Regional & Community Supervision (RCS) Division and expect to have open roles in those areas next year.

The two major focuses of banking supervision and regulation are the safety and soundness of financial institutions and compliance with consumer protection laws. Examiners in the RCS Division conduct examinations of banks and holding companies under $100 billion in assets for performance based on financial condition, operational controls, risk management practices, and compliance with banking regulations. The CCSO Division assesses a bank’s compliance with consumer protection laws and regulations and addresses areas such as prohibitions against discriminatory lending practices and disclosure requirements for loan documents. If you are a recent college graduate or have 1-3 years of experience with a background in Accounting, Banking, Finance, Public Policy, Economics, or Business, check out this exciting opportunity! As an Assistant CRSB Examiner at the Federal Reserve Bank of Chicago, you will participate in an intensive multi-year training program. This 3–5-year program combines on the job training with classroom training in preparation to become a Commissioned Bank Examiner.

The CRSB Supervision family provides supervisory oversight for financial institutions of varying complexities that have a close relationship with the communities they serve. Members of the CRSB job family generally conduct full scope or target examination and inspections of CRSB firms by working with different teams and staff across the department and through interaction with institution executives with broad responsibilities. The Assistant Examiner serves as a member of full scope point-in-time examinations or inspections. Level of work is generally considered entry level and staff must be able to work under close to general supervision. This position has no direct reports.

Your Responsibilities

  • Work with more experienced staff members in full scope examinations or inspections to assess the institution’s overall condition, risk management systems, and compliance with applicable laws and regulations during the examination process and/or through continuous monitoring
  • Assist in developing and recommending actions and responses to resolve basic issues
  • Assists in the development of examination plans, timelines, and milestones for examinations of basic to moderate complexity
  • Create and provide basic reports, documents, and other correspondence to internal and external stakeholders
  • Develop working relationships within the team, Division and Department
  • Complete core curriculum courses in the Examiner Commissioning Program, on-the-job training assignments, and the Proficiency Examination

Your Background

  • Bachelor’s degree or equivalent experience. Coursework in Accounting, Economics, Finance, Public Policy or Business Administration preferred
  • Up to three years of direct work-related experience
  • Demonstrate intermediate analytical and problem-solving skills
  • Demonstrate critical thinking and decision-making abilities as well as have solid written and oral communication abilities
  • Ability to seek and accept coaching and constructive feedback
  • Possess solid teamwork skills and the ability to build and work collaboratively within and across work teams
  • Demonstrate the ability to manage time and projects effectively by adjusting quickly to new and different priorities
  • Possess a proficiency in Microsoft Office products

Application Process/ What To Expect

  • We will be collecting applications throughout the year
  • The interview process will start with a phone interview which can begin at any time. If selected a one-hour video interview will follow

Location

This position is considered hybrid, which means your presence will be required at one of the 7th District Locations.

We are hiring for following locations:

Consumer Compliance Assistant CRSB Examiners: Chicago or Des Moines

Safety and Soundness Assistant CRSB Examiners: Des Moines or Detroit

Other Requirements

  • All Federal Reserve Bank of Chicago employees must be fully vaccinated against COVID-19, and receive a booster shot within 30 days of being eligible to do so, unless the Bank grants an accommodation based on medical condition or sincerely held religious belief
  • On average around 25% travel
  • A valid driver’s license is required
  • This position requires access to confidential supervisory 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, U.S. permanent residents who are not yet eligible to apply for naturalization and U.S. permanent residents who have applied for naturalization within six months of being eligible to do so
  • As a condition of employment, Federal Reserve Bank of Chicago employees must comply with the Bank’s ethics rules which generally prohibit employees, their spouses/domestic partners, and minor children from owning securities, such as stock, of banks or savings associations or their affiliates, such as bank holding companies and savings and loan holding companies. If you or your spouse/domestic partner or minor child own such securities and would not be willing or able to divest them if you accepted an offer of Bank employment, you should raise this issue with the recruiter for this posting, who can provide you contact information for our ethics official if necessary

We are committed to equal employment opportunity regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, marital status, disability, gender, gender identity or expression, or veteran status

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

No

Job Category

Bank Examination

Work Shift

First (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.

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