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Federal Reserve System AVP & Asst General Counsel in Boston, Massachusetts

Company

Federal Reserve Bank of Boston

Assistant Vice President & Assistant General Counsel

Job Title: Assistant Vice President & Assistant General Counsel

About the Organization:

The Federal Reserve System (“the Fed”), or the central bank of the United States, works as twelve Federal Reserve Banks to support the soundness of the U.S. economy through setting monetary policy, fostering financial stability and serving communities, among several other areas of focus.

As part of the Central Bank of the United States, the Boston Federal Reserve (“the Bank”) works to promote sound growth and financial stability in New England and the nation. The Bank contributes to communities, the region, and the nation by conducting economic research, participating in monetary policymaking, supervising certain financial institutions, and supporting the economic well-being in the communities we serve. The Boston Fed is also a leader in the payments industry and is conducting research on a central bank digital currency, developing the FedNow service, the Federal Reserve Systems’ new interbank 24x7x365 real-time gross settlement (RTGS) service.

You will provide research, legal advice, drive a variety of transactions, and counsel business teams on a variety of topics and issues. This individual will work with many internal client departments, specifically with individuals from all levels (up, down, and across) of the Bank’s Supervision, Regulation and Credit (SRC) organization (https://www.bostonfed.org/supervision-and-regulation.aspx) . Additionally, you will partner with legal colleagues from other Reserve Banks and the Board of Governors of the Federal Reserve System on matters such as system risk and SRC-related policy.

A requirement of this position is that the employee must be fully vaccinated against COVID-19 or qualify for an accommodation from the Bank’s vaccination policy; individuals who are unable to be vaccinated due to a medical condition or sincerely held religious belief may request an accommodation from the Bank.

Principal Accountabilities

  • Provide legal expertise and advice on U.S. banking and securities laws and related regulations. Review and interpret other statutes, rules and regulations as issues arise.

  • Perform legal research and write memoranda on complex topics to assist in the development of the Bank’s or the Federal Reserve System’s position on legal and policy matters in the Bank Supervision, and Regulation (BSR), discount window lending, Main Street Lending Program, financial stability, and systemic risk areas.

  • Present to, and interact with, senior Bank staff on legal and policy matters related to BSR and the Main Street Lending Program.

  • Draft and/or negotiate a variety of SRC-related legal documents, including confidentiality agreements, enforcement actions, and assorted correspondence.

  • Work with the Federal Reserve Board’s legal division or other appropriate Federal Reserve Board or Federal Reserve Bank staff on BSR, financial stability, systemic risk, and other legal matters.

  • Review various types of banking applications (e.g., bank holding company formation, merger, new activity, membership), and participate in Bank or Federal Reserve Board meetings with outside counsel to discuss activities of banks and financial institutions.

  • Maintain contact with attorneys at, and serve as a liaison to, other agencies regarding matters and policy related to BSR, financial stability, and systemic risk.

  • Supervise and manage in-house attorneys that also support the Main Street Lending Program and SRC-related legal services

  • Represent the Bank at key meetings or agency proceedings.

  • Respond to inquiries from the public and legal professionals; give speeches or talks related to areas of responsibility.

Different Practice Areas within Legal Department

  • Regulatory Practice

  • Financial Services/Payments

  • Tech, Contracts & Data Privacy

  • Corporate Services

Other Accountabilities

Perform other duties as assigned/requested.

Supervision

This position may be required to directly supervise others, including full-time employees and interns.

Knowledge and Experience

  • Juris Doctorate from an accredited university.

  • Admission to the Massachusetts Bar.

  • Minimum of 10 years of bank regulatory experience in the financial services and/or corporate department of a major law firm, or equivalent experience as an attorney in the financial services sector.

  • 3 years Management experience preferred.

  • Advanced knowledge of U.S. banking laws and regulations, including the Dodd-Frank Act; working knowledge or experience with U.S. securities laws and regulations, and UCC Article 9.

  • Experience in some of the following areas or products strongly preferred: foreign banking activities, insurance, hedge funds, derivatives, private equity investments, capital, secured transactions, and/or bankruptcy.

  • Strong research, writing, time management, planning, and organizational skills.

  • Strong client service, problem-solving, communication (written and verbal), and interpersonal skills.

  • Ability to work both independently and collaboratively.

  • Ability to manage multiple demands and meet deadlines while maintaining attention to detail.

  • Ability to interact with and navigate a complex organization.

The Federal Reserve Bank of Boston is committed to a diverse and inclusive workplace and to provide equal employment opportunities to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, or military service.

The duties of this position require access to sensitive confidential supervisory information. Accordingly, under applicable federal regulations U.S. citizenship is required.

All employees assigned to this position will be subject to FBI fingerprint/criminal background and to Patriot Act/Office of Foreign Assets Control (OFAC) watch list checks at least once every five years.

As a condition of employment, Federal Reserve Bank of Boston employees must comply with ethics rules which generally prohibit employees, their spouses, and minor children from owning securities, such as stock, of banks or savings associations or their affiliates, including but not limited to 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 employment, you should raise this issue with the recruiter for this posting.

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

Yes

Job Category

Executive

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.

Privacy Notice (https://www.kansascityfed.org/documents/7797/Workday_Privacy_Notice.pdf)

OUR BANK has one of the most recognizable brands around the world. The Federal Reserve is the central bank of the United States—one of the world's most influential, trusted and prestigious financial organizations. The Federal Reserve is charged with the important mission of promoting a strong economy and a stable financial system and fulfills this responsibility by formulating national monetary policy, supervising and regulating banks and bank holding companies, and providing financial services for banks and the U.S. government.

OUR PEOPLE are diverse in background and ideas, which allows for ongoing creativity and innovation. Ultimately, they are the ones who push our high-performance, exchange-driven culture forward.

Why Our People Choose Us:

Our reputation precedes us

There will always be room for personal growth

Our people are first

You’ll find the right balance

Your responsibilities will be meaningful

We hope that you will be our future colleague.

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