Assistant Vice President, FRFS Enterprise Risk Management and Compliance

Company

Federal Reserve Bank of Atlanta

Federal Reserve Financial Services (FRFS) delivers a suite of payments services to financial institutions via FedLine® Solutions, Fedwire®, National Settlement Service (NSS), FedCash®, FedACH® (Automated Clearing House), Check Services, and the FedNow® Service. In 2020, we undertook a strategic effort to transform FRFS from a product and support office framework to a national, enterprise-focused organization. The enterprise structure integrated the prior retail, wholesale, cash, and customer relations product and support offices into a new organization, which was further joined by the FedNow team in early 2024. Our North Star strategy, with the new structure, is to offer a fully integrated product suite that provides speed, resilience, and choice in meeting the payments needs of financial institutions across the United States. Through our evolved structure, we will meet the needs of the marketplace for new products and services more quickly, seek to provide a more robust and unified customer experience across our financial service offerings, and create new career growth opportunities for FRFS staff.

We are seeking leaders to set the vision, strategy, values, and priorities that enable FRFS to achieve its mission. Our leaders must demonstrate a strategic, action-oriented mindset focused on intellectual curiosity, agility, accountability, and the ability to drive innovation through experimentation. To achieve our vision for a people-focused organization with a strong collaborative and innovative culture, we expect our leaders to champion an inclusive environment and demonstrate our values in how we work and interact with each other and our broader community.

We value the diversity of our people, ideas, and experiences and are committed to building an inclusive culture that is representative of the communities we serve.

Summary:
Leads the enterprise risk management (ERM) program and processes for Federal Reserve Financial Services (FRFS), promoting risk awareness, mitigation, and reporting.  Facilitates discussions of current and emerging risks and mitigating actions with officers and staff.  Analyzes risks to the organization, including impediments to the successful achievement of strategic objectives, and provides support to senior leadership and FRFS governance bodies.  Lead other compliance and internal control activities.

Responsibilities:

• Manages the FRFS enterprise risk management program.  Includes developing and managing project plans, facilitating cross-functional workgroup and senior leadership discussions, and evaluating, implementing and managing tools to support the risk management function.
• Develops enterprise risk management policies and practices.  Leads effort to define risk appetite and risk tolerances for the organization.
• Maintains a broad knowledge of the risk management discipline, including requirements for financial services, and other risk areas and integrating them into the ERM framework
• Lead ERM relationships across the enterprise, including liaising and consulting with executives and providing 2nd Line effective challenge.
• Lead 2nd Line engagement and effective challenge in large scale FRFS programs and projects as well as across FRFS Product Management
• Maintain a high-level view of the enterprise risk portfolio and advising executives and preparing Board level materials and reporting on enterprise risk management.
• Provides executive level support and leadership of the FRFS Risk Management Committee
• Consults with business area management on the identified risks, possible action plans, and ongoing monitoring. Facilitates sessions with business and functional areas.  Understands methods and processes for managing and mitigating risks.
• Collaborates with the FRFS 1st Line to identify, monitor, and report trends and emerging risks that could impact the Bank. Analyzes risks to the organization and communicates to senior leadership and Board of Directors.
• Lead and support other FRFS compliance activities that may include Audit coordination, SOX/COSO program and AML/OFAC activities.
• Represents FRFS on System committees, leads or participates on high-level System work groups to develop, assess, and report on risk assessments, internal controls, and policy matters.
• Establishes and manages relationships both internally and externally to ensure a solid understanding of the major businesses and functions of FRFS and the Federal Reserve, and their high-level processes within FRFS

Education: Bachelor's Degree or equivalent

Experience: 8 to 10 years’ experience in risk management, including financial services risk management practices, requirements and expectations.

Qualifications:

• Excellent ability to lead through i