Telepost adjustment

Ok. Here we are. Look closely at the top of the post. To the right, the previous homeowner made a wall directly under the rimjoist. Almost directly on top of the post is my kitchen and there is a noticeable bump. I know i will have to move the wall to let the rimjoist get down half an inch to an inch.

How would you guys go about fixing this bump. We're not talking 3 inches here either...