Federal Reserve Bank of New York
Senior Risk Management Analyst or Risk Management Lead
The Federal Reserve Bank of Cleveland is part of the nation's central bank. We've provided many opportunities for professional growth during our history.
For eighteen 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. Join our team!
Sr. Risk Management Analyst or Risk Management Lead
Serves as an expert in one or more risk discipline included in the scope of the Bank's Enterprise Risk Management (ERM) function, including Operational, Strategic, Reputation and/or Credit risk. Primarily responsible for providing high level support and leadership for the planning, implementation and administration of the Bank's ERM program. Supports the development of the function's data visualization and reporting techniques. Contributes significantly to influencing and supporting the Federal Reserve Bank of Cleveland and FRS ERM efforts, including leadership or participation on Federal Reserve System-wide projects and initiatives as well as supporting the Bank`s Enterprise Risk Management Committee.
1. Design and influence the on-going development of Federal Reserve System risk management policies, procedures and reporting.
2. Influences Federal Reserve System ERM direction and policy through working collaboratively with peers throughout the Federal Reserve System and participating actively on Federal Reserve System work groups.
3. With a thorough understanding of Federal Reserve System Governance, structure and product offices, identify and assess significant risks, mitigation strategies and their impact on both local and Federal Reserve System activities.
4. Works with stakeholders across the organization and the FRS to adopt sound, objective-based risk management practices and effective methods for identifying, classifying and reporting of risks. Works to assist local ERM function with implementing RMC and/or SORM related changes to the System`s ERM program.
5. Makes independent judgments, often based on interpretation of System and/or local policy or knowledge of various risk disciplines (operational, strategic, reputational and/or credit). Ensures rationale is documented and management is apprised after the fact.
6. Responsible for providing high level support and leadership for the planning, implementation and administration of the Bank's ERM program. Supports providing high level support and leadership for the planning, implementation and administration of the Bank`s ERM program. Plays a leading role in the on-going development of local risk management policies, procedures and reporting.
7. 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.
8. Provides guidance, support and assistance to Bank business and first line areas to aid in their management of operational and compliance matters.
9. Identifies and assess the potential impact of operational, strategic, reputation, and credit risk and remain cognizant of emerging external risks. Assess the effectiveness of deploying techniques and processes for early detection management and mitigation of these risks.
10. Helps cultivate a culture of risk intelligence, heightened risk awareness and the utilization of advanced methods to assess, monitor, and manage risk.
11. Prepares, presents, and interprets briefings, presentations, or other communications to key internal decision-makers, including First Vice President and Chief Financial Officer, and/or stakeholders (RMC, SORM, our Bank`s Enterprise Risk Committee, etc.) on risk management matters of interest (e.g., local risks, FRS level risks, or other developments).
12. Develops educational resources for the sole purpose of educating stakeholders, mechanisms of the enterprise risk management framework, universal and risk specific parameters, and key risk indicators (KRI).
13. Maintains awareness of current regulations, laws, emerging issues, trends, and ongoing developments in the risk management industry.
14. Collaborates with risk analysts and risk consultant to gather, analyze and interpret complex risk management information for ad hoc projects or performance reporting using local and System risk related data, formulates conclusions and makes recommendations.
15. Independently seeks answers from available risk resources (written, data, etc.) and identifies appropriate staff resources for learning.
16. Possesses ability to handle ambiguous requests for information.
17. Discusses complex circumstances logically and clearly with senior staff or management.
• 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
• 7 years of related experience (5 experience for Sr. Risk Management Analyst role)
Knowledge and Skills
Knowledge Areas - Advanced Level
• Knowledge of Operational, Strategic, Reputation and/or Credit 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 - Advanced Level
• 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
Physical Demands and General Working Conditions
Traditional office environment: Employees typically sit most of the day, work with a computer and may answer/respond to phone calls. Physical movement consists of walking for meetings, breaks, etc. Ability to lift items weighing approximately 20 pounds on a limited basis is required. Addendum as needed: Employees may be required to travel by car/air.
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Federal Reserve Bank of New York
Website : http://www.newyorkfed.org