Director, Central Bank and International Account Services, VP - Markets Group, Richmond Office
What we do:
The Federal Reserve Bank of New York (FRBNY) is seeking an experienced, strategic, and innovative leader to serve as Vice President and Director, Richmond Office, in the Central Bank and International Account Services Function (CBIAS).
CBIAS is part of the Markets Group of the Federal Reserve Bank of New York. The Markets Group has responsibility for implementing monetary and foreign exchange policy, providing correspondent banking services to foreign central banks, and auctioning and issuing Treasury debt as the fiscal agent for the U.S. Treasury. The Group also manages the Bank’s Discount Window and provides collateral services for the Federal Reserve System. CBIAS, specifically, operates and maintains a critically important banking and custody services infrastructure to support the domestic and international policy operations and interests of:
- FRBNY, the Federal Reserve’s System Open Market Account (SOMA), the Federal Open Market Committee and the broader Federal Reserve System;
- the United States Government; and
- foreign central banks, monetary authorities and official international institutions
CBIAS actively and directly supports and intersects with all three of the broad mandates of the Federal Reserve System (FRS): Monetary Policy, Financial Stability and Financial Services, in part by:
- Supporting the implementation of U.S. monetary policy by providing comprehensive clearing and settlement services for the domestic and foreign activities of the System Open Market Account (SOMA); and
- Supporting the role of U.S. dollar as the principal reserve currency and international medium of exchange by providing the global official sector – Foreign and International Monetary Authorities (FIMA) – with secure, confidential access to U.S. markets and payment and securities depositories and networks
The CBIAS Function employs a split operations business model for its critical operations, with staff located in two geographically diverse locations for resiliency purposes. Daily activities are processed by both sites in normal business conditions, with each site ready to execute all critical activities in contingency scenarios. The Director, CBIAS Richmond Office, is responsible for providing on-site senior management leadership and oversight to the Richmond Office. In addition, the Director is a member of the CBIAS Function senior leadership team and participates in Function-level planning, strategy, resourcing and talent management activities. Responsibilities:
The selected candidate will be responsible for the following:
Qualifications: What we are looking for:
- Serving as the senior on-site CBIAS representative in Richmond, providing leadership, direction and oversight to the CBIAS Richmond Office. This includes ensuring the effective communication, integration, and consistency necessary for successful and resilient split operations in normal business conditions, and standing ready to execute all CBIAS critical activities in contingency situations.
- Leading the Richmond Office management team in ensuring that the critical FIMA and SOMA operational activities performed by the Office are executed with accuracy and efficiency within a strong control environment and that business objectives are met on time and within budget.
- Supporting the management of Richmond Office staff and manager resources in such a way as to maximize performance, foster growth and development, and best meet business needs.
- Fostering strong interconnectedness between the CBIAS Richmond Office and other divisions of CBIAS, the Markets Group, FRBNY, FRB Richmond, Board and FRS to enhance resilience and consistency in normal business conditions and contingency situations; also, building and cultivating strong and productive partnerships with internal and external stakeholders to ensure the successful attainment of CBIAS’ mission and objectives.
- Leading studies, projects, or workstreams aimed at continuously enhancing the Function’s capabilities to successfully operate from the Richmond Office in the event of a contingency.
- Supporting the broader CBIAS leadership team’s work in setting and driving the strategic direction of the CBIAS business, as well as Function activities related to strategic projects, planning, resourcing, risk management and risk culture, and talent management.
- Representing CBIAS and the Markets Group on Bank, Federal Reserve System and international committees.
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.
- 15 years of leadership experience in managing an operational or business environment, leading teams of moderate size and complexity with a proven track record of achieving results; interest in overseeing operational business lines and processes
- Strong knowledge of banking and financial services and demonstrated experience with managing and executing related business operations. Prefer additional experience with business continuity/resiliency planning and testing; familiarity with trading and settlement practices in short-term money markets, foreign exchange markets, and fixed-income (Treasury, MBS, and corporates) markets
- Demonstrated strong people management skills, with the ability to lead a team to deliver high quality and timely results across policy, operational and analytical objectives
- Ability to build highly effective and collaborative relationships and create cross-functional synergies; possessing strong interpersonal and diplomacy skills, with demonstrated leadership in managing international and other complex relationships
- Strong negotiation and influencing skills with the ability to garner support for business initiatives and strategies across multiple stakeholders
- Strong background in risk management principles and practices
- Excellent communication, writing, presentation and analytical skills
- Experience with multi-site collaboration or alternate work site leadership preferred
- Approximately 20% international (e.g. foreign central bank meetings and industry conferences) and domestic travel (e.g. Markets Group office in New York, Federal Reserve Board and US Government agencies in Washington, D.C,) is required.
- Bachelor’s degree required, Master’s degree in business, international finance/relations or public policy or a related field preferred
- Candidates must be able to obtain a National Security Clearance, which includes verification of U.S. citizenship