Risk Management Lead - ERM

Federal Reserve Bank of Minneapolis; Cleveland (OH); On-site; USD 111,000 - 139,000; Full time

Job summary

Federal Reserve Bank of Cleveland seeks a Risk Management Lead to identify significant risks, develop mitigation plans, and guide the ERM program across the bank. You will work with stakeholders to implement system-wide risk standards and report on risk levels to senior leadership.

The role requires a Bachelor’s degree in business/finance/accounting and 7+ years of related experience, with strong knowledge of risk disciplines and GRC tools.

Qualifications

• Bachelor's Degree in Business, Finance, and/or Accounting and 7+ years of related experience.
• Knowledge of Operational, Strategic, Reputation risk disciplines and practices.
• Knowledge of GRC or related risk management application functionality.
• Knowledge of project management and Microsoft Office Suite.

Responsibilities

• Identify and assess significant risks and mitigation strategies for local and System activities.
• Adopt objective-based risk management practices across the organization.
• Provide leadership for planning, implementation, and administration of the Bank's ERM program.
• Prepare and present risk briefings to internal decision-makers.

Skills

Problem solving

Leadership

Facilitation

Communication

Strategic thinking

Education

Bachelor's Degree in Business/Finance/Accounting

Tools

GRC software

Microsoft Office Suite

Job description

Company Federal Reserve Bank of Cleveland

The Federal Reserve Bank of Cleveland's mission is to foster the stability, integrity, and efficiency of the nation's monetary, financial, and payment systems while representing the Fourth District perspectives.

As part of the nation's central bank, we are a team of mission-driven professionals who are committed to serving with excellence. Our core values are: Build Trust Every Day, Own Our Actions, Collaborate with Intention, and Be Open to Change.

For twenty-seven 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.

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

Essential Accountabilities

• With a thorough understanding of Federal Reserve System structure, identify and assess significant risks, mitigation strategies and their impact on both local and Federal Reserve System activities.
• Works with stakeholders across the organization and the FRS to adopt sound, objective-based risk management practices and effective methods for identifying, monitoring and reporting of risks. Works to incorporate System standards into the local ERM program.
• Makes independent judgments, often based on interpretation of System and/or local policy or knowledge of various risk disciplines (operational, strategic, reputational). Ensures rationale is documented and management is apprised.
• Responsible for providing high level support and leadership for the planning, implementation and administration of the Bank's ERM program.
• Reports on the current assessed level of risk and document recommendations on managing risks. Contributes to risk reporting initiatives such as process improvement and technology efforts to enhance efficiency and accuracy of reporting.
• Builds strong relationships across the Bank by providing guidance, support and assistance to Bank business and first line areas to aid in their management of operational and compliance matters.
• Assist with the validation of control effectiveness by aiding in the implementation of control programs and viewing control testing performed by business or testing of control design and operation.
• Helps cultivate a culture of risk intelligence, heightened risk awareness and the utilization of advanced methods to assess, monitor, and manage risk.
• Prepares, presents, and interprets briefings, presentations, or other communications to key internal decision-makers on risk management matters of interest.
• Develops educational resources for the sole purpose of educating stakeholders on the components of the enterprise risk management framework.
• Independently seeks answers from available risk resources (written, data, etc.) and identifies appropriate staff resources for learning.
• Possesses ability to handle ambiguous requests for information.
• Performs other duties as assigned or requested.
• Adheres to the Bank's attendance policies through regular and prompt attendance.

Education and Experience

Bachelor's Degree in Business, Finance, and/or Accounting and 7+ years of related experience

Knowledge Areas

• Knowledge of Operational, Strategic, Reputation risk related disciplines and practices.
• Knowledge of GRC or related risk management application functionality
• Knowledge of project management
• Knowledge of Microsoft Office Suite

Skill Areas

• Knowledge in problem solving and analytical skills
• Knowledge and ability to lead others and manage multiple and time sensitive activities
• Ability to effectively lead facilitated discussions
• Ability to articulate written and verbal communications to a variety of stakeholders within an organization
• Strategic thinking and planning skills

The expected starting salary range for the Risk Management Lead is between $111,400 and $139,200 annually. Final salary and offer will be determined by the applicant's background, experience, skills, internal equity, and market data.

The Cleveland Fed offers benefits to support overall health and financial security. Learn more about our benefits here: https://www.clevelandfed.org/careers

This is not necessarily an exhaustive list of all responsibilities, duties, standards or requirements, efforts, skills or working conditions associated with the job. While this is intended to be an accurate reflection of the current job, the Federal Reserve Bank of Cleveland reserves the right to revise this or any job