Job Description
Company
Federal Reserve Bank of New York
Working at the Federal Reserve Bank of New York positions you at the center of the financial world with a unique perspective on national and international markets and economies. You will work in an environment with a diverse group of experienced professionals to foster and support the safety, soundness, and vitality of our economic and financial systems.
The Bank’s flexible work model supports balancing the demands of work and life, while prioritizing the value of connecting and collaborating with our colleagues in person. Employees are expected to live within a commutable distance of their primary work location to support team collaboration.
What we do:
Bank Applications Specialists (aka Mergers & Acquisitions Specialists) coordinate, analyze, evaluate, and recommend action on regulatory applications, notices, and requests filed by domestic and foreign financial institutions with the Reserve Bank, including applications for mergers and acquisitions, foreign investments, non-banking activities and acquisitions, and the establishment of domestic and foreign offices. The Bank Applications team combines operational excellence with deep subject matter expertise while working under deal-based and regulatory deadlines. To effectively complete job assignments, Specialists collaborate with Legal, Supervision, Consumer Compliance and other Federal Reserve System staff, as well as other bank regulatory agencies. Specialists also participate on research and other projects to advance the mission of the Function, the Reserve Bank, and the System.
Your role as Bank Applications Specialist:
• Review and analyze bank regulatory applications for informational adequacy and supervisory and legal sufficiency. Perform background research on banking institutions and their activities and proposals.
• Communicate with applicants and their counsel to provide advice on the applications process and request additional information on applications.
• Write memoranda recommending approval or denial of applications. Draft related internal and external applications correspondence, analysis memos, and meeting minutes.
• Monitor and meet statutory, regulatory, and internal deadlines for applications processing.
• Coordinate with other Bank staff, including lawyers in the Legal Group, examiners and financial analysts in the Supervision Group, and economists in the Research Group to obtain opinions on required factors for reviewing applications.
• Work closely with Board of Governors staff to coordinate information requests and provide recommendations in connection with applications processed for Board action.
• Coordinate the sharing of applications-related information with other regulatory agencies. Develop and maintain technical and practical skills relevant to area of practice. Maintain appropriate files, logs, and reports.
• Participate in special projects as needed, including various System-wide initiatives related to bank applications.
• Forge and maintain strong relationships across the Bank. Lead projects and provide mentorship and guidance to less experienced function members.
What we are looking for:
• Strong understanding of business and financial concepts and ability to read financial statements and reports
• Strong knowledge of Federal and State banking laws, regulations, and policies preferred
• Strong ability to analyze and interpret financial information and legal documents
• Excellent research and analytical skills
• Excellent verbal and written communication and interpersonal skills
• Ability to work both in teams and independently
Salary Range: $15+400 - $216800/ year
We believe in transparency at the NY Fed. This salary range reflects a variety of skills and experiences candidates may bring to the job. We pay individuals along this range based on their unique backgrounds. Whether you’re stretching into the job or are a more seasoned candidate, we aim to pay competitively for your contributions.
Our Touchstone Behaviors—Communicate Authentically, Collaborate Inclusively, Drive Progress, Develop Others, and Take Ownership—help shape the culture of the Bank. They also provide a shared language for how we work together and achieve success, and they set clear expectations for leading with impact at every stage of your career with us. Learn more.
Benefits:
Our organization offers benefits that are the best fit for you at every stage of your career:
• Fully paid Pension plan and 401k with Generous Match
• Comprehensive Insurance Plans (Medical, Dental and Vision including Flexible Spending Accounts and HSA)
• Subsidized Public Transportation Program
• Tuition Assistance Program
• Onsite Fitness & Wellness Center
• And more
This position requires access to confidential supervisory information (CSI) and/or Federal Open Market Committee (FOMC) information. Access to CSI and FOMC information is limited to U.S. citizens, lawful permanent residents, individuals who meet the definition of “protected individual” under 8 U.S.C.
• 1324b(a)(3), and certain other nonimmigrants. All non-U.S. citizens authorized to access CSI and/or FOMC information must sign a declaration of intent to expeditiously become a lawful permanent resident and thereafter a U.S. citizen when eligible.
The New York Fed expects its employees to perform their duties with honesty, integrity, and impartiality, and without improper preferential treatment of any person. Learn more about our code of conduct and conflicts of interest rules.
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, ****** orientation, gender identity, age, genetic information, disability, pregnancy, or military service.
We value accessibility for all candidates and are happy to provide an accommodation or assistance. Please email us at ny.leaves@ny.frb.org and we’ll be glad to help. Please note, this is a dedicated e-mail box designed exclusively to assist applications with accommodation requests in relation to our recruiting process. All other inquires including the status of applications will not receive a response from this e-mail box.
This is not necessarily an exhaustive list of all responsibilities, duties, performance standards or requirements, efforts, skills or working conditions associated with the job. While this is intended to be an accurate reflection of the current job, management reserves the right to revise the job or to require that other or different tasks be performed when circumstances change.
Full Time / Part Time
Full time
Regular / Temporary
Regular
Job Exempt (Yes / No)
Yes
Job Category
Supervisory/Management
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.
Always verify and apply to jobs on Federal Reserve System Careers (https://rb.wd5.myworkdayjobs.com/FRS) or through verified Federal Reserve Bank social media channels.
Privacy Notice
Federal Reserve Bank of New York
Working at the Federal Reserve Bank of New York positions you at the center of the financial world with a unique perspective on national and international markets and economies. You will work in an environment with a diverse group of experienced professionals to foster and support the safety, soundness, and vitality of our economic and financial systems.
The Bank’s flexible work model supports balancing the demands of work and life, while prioritizing the value of connecting and collaborating with our colleagues in person. Employees are expected to live within a commutable distance of their primary work location to support team collaboration.
What we do:
Bank Applications Specialists (aka Mergers & Acquisitions Specialists) coordinate, analyze, evaluate, and recommend action on regulatory applications, notices, and requests filed by domestic and foreign financial institutions with the Reserve Bank, including applications for mergers and acquisitions, foreign investments, non-banking activities and acquisitions, and the establishment of domestic and foreign offices. The Bank Applications team combines operational excellence with deep subject matter expertise while working under deal-based and regulatory deadlines. To effectively complete job assignments, Specialists collaborate with Legal, Supervision, Consumer Compliance and other Federal Reserve System staff, as well as other bank regulatory agencies. Specialists also participate on research and other projects to advance the mission of the Function, the Reserve Bank, and the System.
Your role as Bank Applications Specialist:
• Review and analyze bank regulatory applications for informational adequacy and supervisory and legal sufficiency. Perform background research on banking institutions and their activities and proposals.
• Communicate with applicants and their counsel to provide advice on the applications process and request additional information on applications.
• Write memoranda recommending approval or denial of applications. Draft related internal and external applications correspondence, analysis memos, and meeting minutes.
• Monitor and meet statutory, regulatory, and internal deadlines for applications processing.
• Coordinate with other Bank staff, including lawyers in the Legal Group, examiners and financial analysts in the Supervision Group, and economists in the Research Group to obtain opinions on required factors for reviewing applications.
• Work closely with Board of Governors staff to coordinate information requests and provide recommendations in connection with applications processed for Board action.
• Coordinate the sharing of applications-related information with other regulatory agencies. Develop and maintain technical and practical skills relevant to area of practice. Maintain appropriate files, logs, and reports.
• Participate in special projects as needed, including various System-wide initiatives related to bank applications.
• Forge and maintain strong relationships across the Bank. Lead projects and provide mentorship and guidance to less experienced function members.
What we are looking for:
• Strong understanding of business and financial concepts and ability to read financial statements and reports
• Strong knowledge of Federal and State banking laws, regulations, and policies preferred
• Strong ability to analyze and interpret financial information and legal documents
• Excellent research and analytical skills
• Excellent verbal and written communication and interpersonal skills
• Ability to work both in teams and independently
Salary Range: $15+400 - $216800/ year
We believe in transparency at the NY Fed. This salary range reflects a variety of skills and experiences candidates may bring to the job. We pay individuals along this range based on their unique backgrounds. Whether you’re stretching into the job or are a more seasoned candidate, we aim to pay competitively for your contributions.
Our Touchstone Behaviors—Communicate Authentically, Collaborate Inclusively, Drive Progress, Develop Others, and Take Ownership—help shape the culture of the Bank. They also provide a shared language for how we work together and achieve success, and they set clear expectations for leading with impact at every stage of your career with us. Learn more.
Benefits:
Our organization offers benefits that are the best fit for you at every stage of your career:
• Fully paid Pension plan and 401k with Generous Match
• Comprehensive Insurance Plans (Medical, Dental and Vision including Flexible Spending Accounts and HSA)
• Subsidized Public Transportation Program
• Tuition Assistance Program
• Onsite Fitness & Wellness Center
• And more
This position requires access to confidential supervisory information (CSI) and/or Federal Open Market Committee (FOMC) information. Access to CSI and FOMC information is limited to U.S. citizens, lawful permanent residents, individuals who meet the definition of “protected individual” under 8 U.S.C.
• 1324b(a)(3), and certain other nonimmigrants. All non-U.S. citizens authorized to access CSI and/or FOMC information must sign a declaration of intent to expeditiously become a lawful permanent resident and thereafter a U.S. citizen when eligible.
The New York Fed expects its employees to perform their duties with honesty, integrity, and impartiality, and without improper preferential treatment of any person. Learn more about our code of conduct and conflicts of interest rules.
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, ****** orientation, gender identity, age, genetic information, disability, pregnancy, or military service.
We value accessibility for all candidates and are happy to provide an accommodation or assistance. Please email us at ny.leaves@ny.frb.org and we’ll be glad to help. Please note, this is a dedicated e-mail box designed exclusively to assist applications with accommodation requests in relation to our recruiting process. All other inquires including the status of applications will not receive a response from this e-mail box.
This is not necessarily an exhaustive list of all responsibilities, duties, performance standards or requirements, efforts, skills or working conditions associated with the job. While this is intended to be an accurate reflection of the current job, management reserves the right to revise the job or to require that other or different tasks be performed when circumstances change.
Full Time / Part Time
Full time
Regular / Temporary
Regular
Job Exempt (Yes / No)
Yes
Job Category
Supervisory/Management
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.
Always verify and apply to jobs on Federal Reserve System Careers (https://rb.wd5.myworkdayjobs.com/FRS) or through verified Federal Reserve Bank social media channels.
Privacy Notice
💡 Quick Summary
Seeking a career-building opportunity? The Bank Applications Specialist position is now open for candidates interested in the Bank Jobs sector. This role in New York City offers a professional environment and growth potential.
Requirement Snapshot: Candidates should possess basic communication skills, a proactive attitude, and the ability to work in a team. Experience in Bank Jobs is a plus.
