Director, Federal Reserve Program Advisor recruitment
AIG will move to Federal Reserve oversight status in the near term and must prepare for changes in its operating environment. These changes will enable AIG to demonstrate that our governance, management and reporting practices are rigorous, transparent and tailored to help us efficiently manage our business, while meeting regulatory requirements and supervisory expectations worldwide.
AIG's preparation for expected regulation on a consolidated basis by the Federal Reserve will be managed by the Risk and Regulatory Programs team.
Director, Federal Reserve Program Advisor
The Program Advisor must be able to leverage their supervisory/examiner knowledge and skill set to guide AIG in its preparation for Federal Reserve Supervision. The crux of this role places an emphasis on issues of supervisory importance including governance, risk management, compliance structure and processes, credit risk management practices, liquidity management, financial controls, and legal entity rationalization/structure.
Responsibilities include:
* Act as in-house subject matter advisor focused on Federal Reserve supervision and regulation.
* Identify firm-specific vulnerabilities by assessing of inherent risk and the quality of risk management practices
* Develop and maintain relationships with key business heads with an understanding of the business' inherent risks and effectiveness of required controls
* Support / conduct comprehensive reviews of existing practices across AIG's enterprise to assess the degree of readiness for Federal Reserve Supervision. Work with corporate functions, business units and Federal Reserve Supervision Program leads to identify further opportunities for improvement
* Evaluate and approve remediation strategy to close gaps and ensure comprehensive understanding of AIG's targeted 'end-state'
* Synthesize the evaluation of the work of the Program Leads and Senior Management to benchmark progress against planned program objectives
* Demonstrate strong intellectual capacity and the ability to identify and share cross-industry risk management practices and emerging industry risks
* Demonstrate excellent collaboration skills shown through consistent information sharing and fostering partnerships with others outside his / her own expertise
Position Requirements:
* Advanced degree in Business Administration, Economics or Finance is desirable.
* 8+ years experience working for a federal regulatory organization preferably as an on-site supervisor at large institutions on behalf of Federal Reserve or Office of Comptroller of the Currency (OCC)
* Strong leadership skills, with a proven ability to work across and navigate within a large global organization
* Enterprise wide interaction with executive teams and senior management regarding regulatory remediation efforts as well as the appropriateness of the plans, policies and standards.
* Demonstrated ability to interact and influence at all levels and share views in a constructive and proactive manner
* Alternatively experience at BHCs or SLHCs preparing for exams and assisting with the remediating of Federal Reserve and/or OCC supervisory concerns, as well as Dodd-Frank requirements
* Experience leading or participating in Federal Reserve System working groups a plus
* Insurance industry experience a plus.
* Strong written and verbal communication skills
* Strong quantitative and qualitative analytical skills
* Excellent facilitation and presentation skills
* Well organized; ability to work on multiple projects and quickly grasp key concepts
About AIG
American International Group, Inc. (AIG), a world leader in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world. AIG's common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Ireland and Tokyo. AIG is an Equal Opportunity Employer.
