Position Description
The Board of Governors of the Federal Reserve System (the Board), an independent agency of the federal government, serves as the nation’s central bank and conducts monetary policy; maintains the stability of the U.S. financial system; supervises and regulates a wide range of banking organizations, including systemically important financial institutions; and provides key financial services to depository institutions.
Key Responsibilities
The Associate General Counsel is responsible for leading and directing the work of the attorneys and paralegals, and junior officers in the Banking Regulation and Policy Group. The Banking Regulation and Policy Group’s key areas of responsibility include: drafting and interpreting financial regulations; drafting and analyzing financial services legislation; advising on bank supervisory issues; and providing legal analysis and advice regarding mergers and acquisitions by domestic and foreign banking organizations.
The Associate General Counsel Receives General Supervision From The Deputy General Counsel And Supports The General Counsel And Other Members Of The Legal Division’s Officer Team In Achieving Division-wide Objectives. The Associate General Counsel Works Closely With Colleagues In The Division Of Supervision And Regulation, Throughout The Board And The Federal Reserve System, And On An Inter-agency Basis On a Wide Variety Of Financial Regulatory Issues. The Associate General Counsel Has Responsibility For
Advising on a wide range of bank regulatory and other financial regulatory matters, including oversight of the development and drafting of regulations and guidance to implement the Federal Reserve Act, the Bank Holding Company Act, the International Banking Act, the Dodd-Frank Act, other statutes, and international agreements. Relevant regulatory frameworks include, among others, banking firm capital and liquidity requirements, stress testing requirements, resolution planning requirements, single-counterparty credit limits, the Volcker Rule, and the Board’s Regulations YY, Y, K, W, O, and L.
- Advising on matters relating to the supervision of financial institutions subject to the Board’s oversight, including stress testing and resolution plan assessments for large banking firms.
- Advising on the Legal Division’s review of applications related to mergers and acquisitions by U.S. and foreign banking firms, change in bank control notices, and expansionary activity proposals by banking firms.
- Advising on interpretive issues and exemption requests arising under the Board’s existing statutory framework and regulations.
- Advising on matters relating to the Federal Reserve’s participation in the Financial Stability Oversight Council and other interagency processes and international organizations focused on bank regulation or financial stability.
- Making presentations to Board members as an authority on complex legal and policy issues arising from the work of the Banking Regulation and Policy Group of the Legal Division.
- Working and advising on specific assignments from the General Counsel, Board members, and other senior Board staff.
- Supervising a diverse team of attorneys and paralegals by assigning projects, establishing priorities and deadlines, monitoring progress and results, and evaluating performance.
The Associate General Counsel level, in consultation with the Deputy General Counsel, proposes and implements the strategic direction of the Group’s work. In addition, the Associate General Counsel should have a demonstrated ability to translate overarching Division priorities into specific objectives for staff.
Must be present onsite a minimum of 4 days per month (Wednesdays). Additional onsite work as needed to meet business needs.
Qualifications, Skills And Experience
- Juris Doctor (J.D.) and active member of a State Bar.
- 15+ years at Associate General Counsel level of legal, regulatory, or legislative experience with substantial expertise in banking and financial services law, regulation, and policy.
- Possession of or the ability to obtain necessary security clearances.
- U.S. citizenship.
- Broad knowledge of financial institutions and markets.
- Excellent legal skills, including the ability to identify, analyze, and explain complex legal issues and positions.
- Excellent analytical and problem-solving skills.
- High levels of intellectual curiosity and creativity.
- Excellent written and oral communication skills.
- Proven strong people leadership, management, and mentoring skills developed through leading teams and managing staff.
- Highly collaborative working style and strong interpersonal capabilities.
- Ability to balance competing interests among a variety of clients and projects, and to readily readjust priorities to respond to pressing and changing client demands.
The Board is committed to a diverse workforce and to providing equal employment opportunity to all persons without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, genetic information, or military service.
Position Requirements
Primary Location
DC-Washington
Employee Status
Regular
Overtime Status
Exempt
Job Type
Standard
Work Shift
1st Shift
Relocation Provided
Yes
Compensation Grade Low
FR PAY GRADE D2
Compensation Grade High
FR PAY GRADE D2
Minimum Salary
$255,400.00
Maximum Salary
$314,270.00
Posting Date
Nov 20, 2024
