Markets Risk & Controls Associate

Federal Reserve Bank of Minneapolis; New York (NY); On-site; USD 90,000 - 130,000; Full time

Job summary

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.

Qualifications

• 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.

Responsibilities

• 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.

Skills

Risk management frameworks

IT systems and controls

Trading compliance risk

Auditing / testing

Data compilation and analysis

Engagement coordination

AI models & tools

Microsoft Office Suite

Tools

Microsoft Office Suite

Job description

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.