Head of Risk and Compliance, Operations and Resiliency Group

Company

Federal Reserve Bank of New York

Working at the Federal Reserve Bank of New York positions you at the center of the financial world with a unique perspective on national and international markets and economies. You will work in an environment with a diverse group of experienced professionals to foster and support the safety, soundness, and vitality of our economic and financial systems.

The Bank believes in work flexibility to balance the demands of work and life while also connecting and collaborating with our colleagues in person. Employees can expect to be in the office a couple of days per week as needed for meetings and team collaboration and should live within a commutable distance.

What we do:

The Operations and Resiliency (O&R) Group operates and oversees the provision of financial accounts and services for the Federal Reserve Bank of New York, including the distribution of currency for the Second district as well as gold safekeeping operations on behalf of the Federal Reserve System, and provides critical operations support to the broader Bank including law enforcement, business continuity and resiliency.

The O&R Risk and Compliance team works closely with the O&R business areas as a first line of risk defense to foster strong risk culture and control environments.  The team administers a risk management program by engaging with the business area management teams to develop an objective view of ‘first line’ risk exposures, advising business areas on control issues and mitigation decisions, providing a first line review and quality assurance function and promoting effective transparency of existing and emerging material risks and control issues to drive better decision making.

Your role as O&R’s Head of Risk and Compliance:

Lead a team of risk professionals to provide value-added risk management, compliance and control services to the business areas within O&R, driving the execution of the portfolio of Group and Bank risk priorities and deliverables.  Responsibilities include: 

• Analyze relevant information and provide risk insights to senior management for enhanced decision making.  This includes identifying risk themes, root causes, process and control improvement opportunities and effective risk mitigation strategies. 

• Work collaboratively with business areas to review and consult on strategic priorities, processes and best practices.  Validate business area controls, identify vulnerabilities and develop remediation plans to enhance control   environments

• Collaboratively develop Key Risk Indicators to ensure businesses are operating within tolerance

• Work with the Bank’s risk 2nd line to support a strong risk culture and control environment engaging in risk practices and leveraging tools

• Engage with business areas and audit entities on audit issues to ensure effective risk focused resolution

• Represent O&R in relevant Bank and System risk forums

• Manage the Group's annual SOX program including completion of process documentation (e.g., narratives, flowcharts, risk and control matrices) and testing of key    controls

What we are looking for: 

• Ability to develop staff and successfully lead teams through change to drive results

• Capacity to build relationships at all levels across the broader organization

• Skilled communicator and influencer, who works collaboratively with stakeholders from across the organization to improve outcomes

• Demonstrated process improvement mindset

• Relevant audit/risk management certifications a plus

Selected candidate will have the ability to select New York Head Office or EROC as primary work location but must have the ability to travel to and work from both locations.

Salary Range: $240000- $330000 / year 

We believe in transparency at the NY Fed. This salary range reflects a variety of skills and experiences candidates may bring to the job. We pay individuals along this range based on their unique backgrounds. Whether you’re stretching into the job or are a more seasoned candidate, we aim to pay competitively for your contributions. 

 

Our Touchstone Behaviors—Communicate Authentically, Collaborate Inclusively, Drive Progress, Develop Others, and Take Ownership—help shape the culture of the Bank. They also provide a shared language for how we work together and achieve success, and they set clear expectations for leading with impact at every stage of your career with us. Learn more. 

 

Benefits: 

Our organization offers benefits that are the best fit for