FINANCIAL INSTITUTION SPECIALIST (Risk Management)

FDIC bank examiners determine if financial institutions follow safe-and-sound banking practices, implement effective internal policies and procedures, and comply with consumer protection, anti-discrimination, and community reinvestment laws and regulations. This work is critical to the FDIC’s mission of maintaining stability and public confidence in the nation’s financial system. The Financial Institution Specialist (FIS) examiner training program is an opportunity that will place you on the front lines of America’s banking and financial services industry, performing mission-critical work and traveling the country in a unique role that only a few experience. As a FIS, you will develop the skills you need to handle the evolving requirements of the industry, and develop new abilities to help you prepare for and advance in your career.

 

The FDIC supervises a majority of the country’s community banks. These institutions provide loans to farmers and small businesses, make it possible for entrepreneurs to launch start-ups, support local governments as they build libraries and parks, and foster local economies. These essential functions are the very things that help keep America running.

 

As a FIS in our Division of Risk Management Supervision (RMS), you will enjoy a meaningful career with impact on the financial industry and American banking consumers. Your vital role supports the FDIC mission through these critical functions:

·       Examining and supervising insured financial institutions,

·       Leading sound policy development,

·       Evaluating adherence to laws and regulations, and

·       Monitoring and mitigating systemic risks.

 

Newly hired FISs will report to field managers to begin training and working toward becoming a commissioned financial institution examiner. A commission is a designation given to individuals who meet experience requirements and pass the Technical Evaluation, a test to demonstrate knowledge and mastery of concepts related to bank examinations. The commissioned examiner designation helps enforce professional standards and qualifies individuals to lead examination teams.

 

Other highlights of our program and work culture:

 

Professional Development – Entry-level FISs already possess critical skills needed to immediately contribute to examinations. You will receive training to refine your talents and leadership skills. Our FISs are also assigned an individual coach or mentor to help ensure a smooth transition into the FDIC culture. 

 

Rapid Pay Progression – Our FISs can anticipate non-competitive pay progression through a combination of both scheduled annual pay increases and regular promotions as they complete specific training benchmarks. FISs also receive a $2,000 bonus and participate in the FDIC’s merit-based pay program upon becoming a commissioned examiner.

 

Work/Life Balance – We offer reasonable work hours, flexible work schedules, and telework opportunities to help employees lead a fulfilling life outside of work.

 

Commitment to Diversity, Equity, and Inclusion – The FDIC achieves its mission by creating an inclusive work environment that recognizes and appreciates all employees' perspectives and talents, allows employees opportunities to reach their highest potential, and attracts and retains the most talented employees.

 

The FDIC evaluates banks and savings associations to determine if they are operating in a safe-and-sound manner. As a FIS in RMS, you will be part of a team that examines a bank’s financial condition, risk management program, and internal control structure. The teams also assess compliance with safety and soundness rules and regulations, including anti-money laundering and bank secrecy laws and regulations, as well as bank information technology controls.

 

Under the direction and supervision of a more experienced examiner, some of the duties you will perform include:

·       Reviewing financial statements;

·       Reviewing accounts for overdrafts, prepaid expenses, and other miscellaneous assets;

·       Assessing the adequacy of insurance coverage;

·       Evaluating the adequacy of a financial institution’s procedures and internal routines and controls;

·       Completing a thorough analysis of the earnings of an institution;

·       Conducting transaction testing on income and expense accounts;

·       Computing capital ratios, reconciling capital accounts, and reviewing account activity;

·       Reviewing loans for quality, documentation, and risk management practices;

·       Reviewing financial institutions’ liquidity, including analysis of fluctuations in loans, securities, deposits, and borrowings;

·       Verifying securities and other investments, including reviewing transactions, determining quality, and verifying appropriate accounting; and

·       Preparing drafts of schedules, exhibits, and comments for inclusion in the report of examination.

The FDIC is now accepting applications for FIS positions within the Division of Risk Management Supervision through April 20, 2023 at 11:59 pm (ET). To be considered, you must:

·       Be a U.S. citizen;

·       Have obtained or will obtain a bachelor's degree (or higher) from an accredited college or university by December 31, 2023;

·       Have a major in Accounting, Banking, Business Administration, Commercial or Banking Law, Economics, Finance, Marketing, or other related fields; and

·       Have a minimum GPA of 2.95.

FIS positions will be available in select locations across the country. As an applicant, you may select up to three of these locations for consideration. Please note: Starting salaries range from $64,809 - $87,261 per year, depending on location, with regular salary increases and an excellent vacation and benefits package.