FEDERAL RESERVE BANK OF NEW YORK

FIRST VICE PRESIDENT & CHIEF OPERATING OFFICER

www.newyorkfed.org

THE ORGANIZATION:

The Bank of New York ("New York Fed" or the "Bank") works within the Federal Reserve System and with other public and private sector institutions to foster the safety, soundness and vitality of our economy and financial system.

The Federal Reserve Bank of New York is one of 12 regional Reserve Banks which, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. The Fed, as the system is commonly called, is an independent governmental entity created by Congress in 1913 to serve as the of the United States. It is responsible for formulating and executing , supervising and regulating depository institutions, providing an elastic currency, assisting the federal government’s financing operations and serving as the banker for the U.S. government.

The New York Fed oversees the Second Federal Reserve District, which includes New York State, the 12 northern counties of New Jersey, Fairfield County in Connecticut, Puerto Rico and the U.S. Virgin Islands. In addition to responsibilities common to the other Reserve Banks, the New York Fed has several unique responsibilities related to domestic and international financial markets and the execution of monetary policy.

The New York Fed employs about 3,100 people, who are primarily located at the head office in Manhattan and in East Rutherford, New Jersey.

THE ROLE:

The NY Fed seeks a proven executive who will work collaboratively with the Bank’s President, Executive Committee, and Board of Directors in setting the strategic direction for the Bank and driving strategic initiatives for the Federal Reserve Bank of New York as a whole. The executive will have a proven record of leading professionals and operations and delivering desired results. The person should be capable of inspiring, supporting and developing a diverse team that is agile and effective at leading change in a highly dynamic environment while maintaining the highest standards of excellence. The First Vice President (FVP) will embody a spirit of inclusion and engagement that fosters a cohesive team environment. The FVP is expected to work collaboratively with peers and stakeholders across the Federal Reserve System and foster a shared accountability for achieving desired outcomes.

27 Union Square West, Suite 502, New York, /ny 10003 ▪ tel 212 265 2100 ▪ www.bridgepartnersllc.com

Bridge Partners LLC is a Certified Minority Supplier and a Minority Business Enterprise (MBE)

KEY RESPONSIBILITIES:

• Serves as the second-ranking officer of the FRBNY, reporting to the President, and is a member of the Bank’s Executive Committee. • Responsible for chairing Operating Subcommittee of the Executive Committee, which is responsible for developing, prioritizing and overseeing the execution of the portfolio of organizational effectiveness, resiliency, infrastructure, resourcing and service-provisioning initiatives necessary to advance the FRBNY’s mission and strategic priorities. • Engages with the Federal Reserve System in key roles: o Representative to the Federal Reserve System Conference of First Vice Presidents; and o Alternative Voting Member of the Federal Open Market Committee. • Partners with the FRBNY President and CEO to establish, communicate and execute the strategic direction of the organization. • Exemplifies leadership by motivating and empowering others to achieve individual and organizational goals, and by fostering an environment that allows everyone to do their best work. • Directs and coordinates the activities of the Bank in accordance with the Bank Mission, Vision and Objectives. • Monitors financial and operational performance, and promotes strong risk management and control principles and practices. • Empowers leaders to enable the workforce to do their best work, driving innovation in information and technology, and ensuring the organization is able to operate effectively in any environment.

KEY RELATIONSHIPS:

Reports to: President and Chief Executive Officer

Direct Chief Information Officer Reports: Chief Risk Officer Head of Markets Group Head of Financial Services Group Head of Corporate Group

Other key President and Chief Executive Officer, Federal Reserve Bank of New relationships: York Board of Governors and staff U.S. Department of the Treasury Other Federal Reserve Bank Presidents and Reserve Bank leaders

27 Union Square West, Suite 502, New York, /ny 10003 ▪ tel 212 265 2100 ▪ www.bridgepartnersllc.com

Bridge Partners LLC is a Certified Minority Supplier and a Minority Business Enterprise (MBE)

THE PERSON:

• Extensive leadership experience with a commitment to operational excellence and a proven track-record of execution and delivery, achieving exemplary results. • Deep public service and/or mission-driven orientation. • Demonstrated strong people management skills, with the ability to lead diverse teams to deliver high quality and timely results. Proven ability to positively coach, lead and develop others to achieve their professional best. • Ability to build highly effective and collaborative relationships and develop cross- functional, enterprise-wide integration; possess strong interpersonal and diplomacy skills, with demonstrated leadership in managing complex relationships. • Drive to foster innovation, finding opportunities to work faster and smarter to respond to business challenges with creativity. • Intellectually curious and nimble, with the demonstrated ability to learn, synthesize and apply a range of information and experience quickly in new situations and settings. • Demonstrated track record on creating a diverse and inclusive culture and practices and improving diversity within direct teams and across the organization. • Able to make decisions in an effective/timely manner, to inspire/influence/develop talent with the goal of instilling accountability, while maintaining the highest levels of integrity. • Encourages a transparent and authentic orientation towards others with the goal of working collaboratively to complete shared tasks. • Effective and inspiring communication style; excellent writing, presentation, and analytical skills. • Track record of successful leadership to drive results and proactively manage change in a complex and dynamic organizational, technological and operating environment. • Strong collaboration skills, a focus on positive intent and an interest in ensuring strong relationships with an ability to partner effectively with others in the pursuit of common goals. • Emotional intelligence, including the ability to build trust in a variety of relationships through candor, reliability and authenticity as well as the capacity to embrace and draw from diversity and inclusion to improve the quality of outcomes. • Executive presence, judgment and pitch in communicating and supporting effective discussion and decision making among boards, policy makers and others. • Strong business acumen with a proven ability to evaluate the costs, risks and benefits associated with alternative actions before making decisions.

PROHIBITED ACTIVITIES:

It is indispensable to the proper functioning of, and the maintenance of public confidence in, the Federal Reserve Bank of New York and the Federal Reserve System that every employee perform his or her duties with honesty, integrity and impartiality, and without improper preferential treatment of any person or organization. Each employee has a responsibility to the Bank and to the Federal Reserve System to avoid conduct which places private gain above his or her duties to the Bank, which gives rise to an actual or apparent conflict of interest, or which might result in a question being raised regarding the independence of the employee’s judgment or the employee’s ability to perform the duties of his or her position satisfactorily.

27 Union Square West, Suite 502, New York, /ny 10003 ▪ tel 212 265 2100 ▪ www.bridgepartnersllc.com

Bridge Partners LLC is a Certified Minority Supplier and a Minority Business Enterprise (MBE)

The Bank’s code of conduct generally prohibits activities such as:

§ Publicly traded company board positions § Partisan campaign roles/positions § Partisan elected office § Stock ownership or other financial interests in depository institutions (e.g., banks and thrifts) and certain other financial institutions; holdings of U.S. Treasury securities in excess of $50,000; the purchase or sale of securities during FOMC blackout periods

The Bank prohibits outside employment with certain financial services providers and restricts employees from accepting compensation from third parties for teaching, speaking or writing on a subject that relates to your responsibilities at the Bank.

KEY FEDERAL RESERVE BANK OF NEW YORK FACTS

• At the direction of the Federal Open Markets Committee ("FOMC"), the principal monetary policy-making group of the Federal Reserve System, the New York Fed conducts open market operations on behalf of the Federal Reserve System. The President of the Federal Reserve Bank of New York is a permanent voting member of the FOMC. • The New York Fed conducts on-site and off-site examinations of member depository institutions and branches and agencies of foreign banks in the Second District. The Fed's responsibilities extend to all state-chartered banks that are members of the Federal Reserve System, all U.S. bank holding companies and many of the U.S. operations of foreign bank organizations. • In addition, the Fed stands ready to provide temporary or long-term liquidity to any depository institution that meets its criteria for borrowing. • The New York Fed engages in foreign exchange operations on behalf of the U.S. Treasury Department and the Federal Reserve System, as well as for some foreign central banks and international organizations. • On behalf of the Federal Reserve System, the New York Fed offers banking and financial services to about 250 central banks, governments and international official institutions. • The New York Fed offers payment, custody and safekeeping and investment services to its customers. • Most of the assets held in foreign official accounts are in the form of U.S. Treasury and agency securities. These accounts also hold a large quantity of foreign monetary gold at the New York Fed. • The New York Fed serves as the Wholesale Product Office for the Federal Reserve System. In this capacity, it is responsible for strategic planning and oversight of the Fed's large-dollar funds and securities transfer businesses, as well as its net settlement services. • The New York Fed has an office in East Rutherford, New Jersey. The Fed's operations center in East Rutherford, which opened in 1992, processes cash for the metropolitan New York and New Jersey area.

More information here.

27 Union Square West, Suite 502, New York, /ny 10003 ▪ tel 212 265 2100 ▪ www.bridgepartnersllc.com

Bridge Partners LLC is a Certified Minority Supplier and a Minority Business Enterprise (MBE)

The New York Fed stands in unity with all those who oppose racism, hate, and violence. We join them in a shared desire to root out the intolerable inequities and injustice grounded in systemic racism that persist in our society. We are firm in the belief that economic equality is a critical component for social justice and that we will never have the truly inclusive and strong economy we seek until access to health, education, safety, and justice knows no racial or other boundaries.

We are dedicated to understanding and finding solutions to the numerous forms of inequality that communities of color experience and working with communities in our District to address deep- seated inequities. We are steadfast in our commitment to work for a more equitable economy and society for all, and will redouble our efforts in pursuit of this essential mission.

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To learn more about this opportunity, please contact:

Tory Clarke Larry Griffin Partner, Bridge Partners Partner, Bridge Partners [email protected] [email protected]

Candidates are strongly encouraged to submit their application, in the form of a resume and cover letter, by December 1st 2020

27 Union Square West, Suite 502, New York, /ny 10003 ▪ tel 212 265 2100 ▪ www.bridgepartnersllc.com

Bridge Partners LLC is a Certified Minority Supplier and a Minority Business Enterprise (MBE)