Internal Controls Analyst or Senior Analyst

Company

Federal Reserve Bank of Cleveland

The Federal Reserve Bank of Cleveland is part of the nation’s central bank and we’ve provided many opportunities for professional growth during our history.

For twenty-five years in a row, we’ve been named “One of Northeast Ohio’s Best Places to Work” by North Coast 99. This prestigious award honors organizations with outstanding employment practices, including compensation, benefits, training, recruitment, retention, community services, and employee communications.

Our People Make the Difference! The Federal Reserve Bank of Cleveland is seeking innovative thinkers with vision to build the framework that will carry the Bank into the future.

Follow us on LinkedIn, Twitter, Instagram, and our YouTube channel – Cleveland Fed

This role is based in Cleveland, Ohio, and is a hybrid work arrangement - individuals may be required to work some days in the Federal Reserve Bank of Cleveland while working the other days from home.

Do you have COSO, SOX, or compliance-based experience to bring to the Cleveland Fed?  Are you skilled in building collaborative relationships?  Are you an effective communicator that leads with integrity?  Are you excited about playing a role in ensuring that the Bank’s internal controls over financial reporting are sufficient to mitigate financial statement risks? 

The Federal Reserve Bank of Cleveland is seeking a highly motivated, dynamic, and qualified candidate for this role.  Here you’ll bring your professional experience, talent, and drive to support an organization grounded in commitment to public service dedicated to ensure a stable economy for all. 

Organizational Expectations:

As a member of the COSO team within Financial Management, you will provide guidance to Bank management related to ICFR/COSO requirements and governance for the Fourth District. You will support efforts to ensure that effective processes of internal controls and financial reporting are in place.

General Responsibilities:

• Assists and helps to lead facilitating the annual control assertion process for functional areas, including overseeing control testing, participating in testing, and advising management of discrepancies.

• Coordinates and supports Control Owners, including participating in walk throughs, to ensure that internal controls over financial reporting are effectively identified, designed, executed, and documented; and are sufficient to mitigate financial statement risks.

• Performs scoping of internal controls for financial reporting, which includes periodic risk assessment, materiality assessment, and identification of significant accounts, processes and controls.

• Collaborates and assists process owners to develop process flows and/or narratives to identify risks and map process controls.

• Performs individual and aggregate control deficiency analysis; coordinates and participates in the preparation of the Summary of Aggregated Deficiency Report. Recommend appropriate remediation plan, and track remediation status.

• Monitors major changes in business, process and systems and collaborates to ensure timely updating of controls documentation to mitigate the risks.

• Evaluates and reviews third-party deficiencies reported by internal and external service providers for impact to the Bank

• Applies accounting knowledge and experience to identify improper accounting, documentation and opportunities to improve the efficiency and effectiveness of business processes and control activities.

• Participates in developing training resources for stakeholders including delivery of sessions to business lines.

• Maintains key documentation related to control assertion program.

• Develops meeting materials, including presentations, for the Bank's senior management, Board of Directors and Audit Committee.

• Provides support in coordinating the annual external audit by providing relevant ICFR/COSO information. Collaborates with external auditor and functional areas to ensure information requests are properly fulfilled.

• Participates in department, Bank and/or FR System projects.

• Uses technical skills to enhance ICFR/COSO program and support the enhancement and development of related applications.

• Leads/completes ad-hoc projects and/or assignments.

• May develop and deliver training resources for stakeholders, including delivery of sessions to business lines.

• Performs other duties as assigned or requested.

Education and Experience:

Internal Controls Analyst:

• Bachelor's Degree in Accounting, Fin