Business Risk and Control Associate

Federal Reserve Bank of Minneapolis; New York (NY); Presencial; USD 90.000 - 130.000; Tempo integral

Resumo da vaga

Federal Reserve Bank of New York is seeking a Risk and Control Associate within the Markets Group in New York. You will support the bank's risk management program, engage with multiple business areas, and help analyze risks, deficiencies and remediation efforts across controls and processes.

Responsibilities include testing design/operating effectiveness, preparing KRIs/KPIs, and collaborating with technology partners to improve risk controls.

Qualificações

• Knowledge of risk management frameworks, practices and methodologies, including risk identification, assessment, monitoring and escalation, and the three lines model.
• Understanding of operational, compliance, financial statement reporting and technology control principles, including IT systems and controls. Familiarity with trading compliance risk and SOX 404 are a plus.
• Experience in auditing or testing for design and operating effectiveness, or other business process or IT controls assurance work.
• Technical abilities in data compilation and analysis, attention to detail and quantitative skills.
• Engagement coordination skills, including the ability to organize and facilitate stakeholder interactions, managing competing priorities and maintaining clear communication across teams.
• Basic proficiency in AI models and tools, including an understanding of their capabilities and limitations, effective prompt writing, and an awareness of the risks (e.g. accuracy, data confidentiality) and the need to validate AI-generated outputs.
• Proficiency in Microsoft Word, Excel, PowerPoint, Visio, SharePoint and Tableau.

Responsabilidades

• Support the implementation of risk management programs, engage with business areas to fulfill deliverables relating to Bank risk standards.
• Assess audit findings, risk events and incidents for root cause trends and remediation opportunities.
• Conduct process walkthroughs, develop test plans, and perform independent tests of key controls.
• Assess business impact and propose corrective actions; prepare and present recommendations to management.
• Build and maintain relationships with subject matter experts and partners to evaluate process changes.
• Apply AI models and tools to support day-to-day work, and validate outputs per policy.

Conhecimentos

Risk management frameworks

IT systems and controls

Trading compliance risk

Auditing / testing

Data compilation and analysis

Engagement coordination

AI models & tools

Microsoft Office Suite

Ferramentas

Microsoft Office Suite

Descrição da vaga

Company

Federal Reserve Bank of New York

When you work at the New York Fed, you have the opportunity to make an impact in our communities and across the nation. Our mission-driven, curious, and dedicated colleagues apply their diverse perspectives and unique talents to support the strength of the U.S. economy and stability of the global financial system. At the Bank, we work full-time onsite with our teams. We believe being physically together allows us to draw on our collective strengths, while recognizing that the ability to work flexibly from time to time remains important to achieving our mission.

Our Unique Work:

The Markets Group of the Federal Reserve Bank of New York implements monetary policy on behalf of the Federal Reserve System, executes lender of last resort operations for depository institutions in the Second District, provides payments and custody services to foreign central banks and international monetary authorities, and serves as fiscal agent for the U.S. Treasury.

Markets Risk and Control (MRC) supports the Markets Group's senior management and business teams' adherence with the Bank's risk management framework and three lines model. MRC leads execution of first-line business risk and compliance programs that include risk management (e.g., risk assessments, risk events, etc.), vendor and third-party risk management, business continuity and resiliency, business process modeling and change management, internal controls over financial reporting, and trading compliance, among other core areas that promote effective risk management and resilience of the Group's critical processes.

How You'll Make an Impact as a Risk and Control Associate:

Support the implementation of the Markets Group's risk management program (i.e., risk identification, analysis, response, communication, monitoring and escalation). Under minimal supervision, engage with Markets business areas (e.g. Central Bank and International Account Services, Domestic and International Markets) in fulfilling deliverables and initiatives relating to the Bank's risk standards (e.g., technology, operational, compliance, third-party, and financial statement reporting).

Assess audit findings, risk events and technical incidents for root cause trends and process improvement opportunities; identify and monitor risks emerging from business process changes; analyze data and prepare reports, KRIs and KPIs on risks impacting the Markets Group to identify themes or trends, communicate analysis effectively to stakeholders and management to influence decision-making and prioritization.

Conduct process walkthroughs, develop test plans, request support documentation, and perform independent tests of key controls for design and operating effectiveness. Document test results, analyze exceptions, assist management with control deficiency evaluations and the development of remediation plans, and perform follow-up testing to confirm effective and timely remediation.

Assess business impact and propose corrective actions to issues (e.g., control testing, risk events, audit findings); prepare and present recommendations to business area, MRC management, second line control functions, and Internal Audit.

Build and maintain strong relationships with business subject matter experts, technology partners, and other Bank or FRS stakeholders to provide consultation on the evaluation of process, risk and control changes.

Apply AI models and tools to support day-to-day work such as summarizing documentation, drafting reports and communications, and analyzing data, in accordance with Bank policies and with appropriate validation of outputs. Help identify opportunities to use AI to improve the efficiency and quality of risk and control processes and contribute to understanding of the risks associated with AI use in Markets.

The Unique Skill Sets We're Looking For:

Knowledge of risk management frameworks, practices and methodologies, including risk identification, assessment, monitoring and escalation, and the three lines model.

Understanding of operational, compliance, financial statement reporting and technology control principles, including IT systems and controls. Familiarity with trading compliance risk and SOX 404 are a plus.

Experience in auditing or testing for design and operating effectiveness, or other business process or IT controls assurance work.

Technical abilities in data compilation and analysis, attention to detail and quantitative skills.

Engagement coordination skills, including the ability to organize and facilitate stakeholder interactions, managing competing priorities and maintaining clear communication across teams.

Basic proficiency in AI models and tools, including an understanding of their capabilities and limitations, effective prompt writing, and an awareness of the risks (e.g. accuracy, data confidentiality) and the need to validate AI-generated outputs.

Proficiency in Microsoft Word, Excel, PowerPoint, Visio, SharePoint and Tableau.

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