Business Risk & Controls Associate

Company

Federal Reserve Bank of New York

Working at the Federal Reserve Bank of New York positions you at the center of the financial world with a unique perspective on national and international markets and economies. You will work in an environment with a diverse group of experienced professionals to foster and support the safety, soundness, and vitality of our economic and financial systems.

The Bank believes in work flexibility to balance the demands of work and life while also connecting and collaborating with our colleagues in person. Employees can expect to be in the office a couple of days per week as needed for meetings and team collaboration and should live within a commutable distance.

What we do:   

The Research & Statistics Group (RSG) provides analytic support for the Bank's responsibilities relating to monetary policy, banking supervision, payments systems, and financial market issues. In addition to contributing to the formulation and execution of policy in these areas, our economists conduct independent research on a wide range of topics.

Within RSG, the Group Shared Services (GSS) function provides long-term value and high-quality service for stakeholders by providing computing, product, publishing and information service support, as well as administering risk management programs and implementing change.

As a Business Risk & Controls Associate, you will be part of the Strategy & Risk team in GSS. 

Your role as Business Risk & Controls Associate:

• Support the development of risk and control self-assessments including quality assurance; analyzes information to identify risks, process, and control improvement opportunities, as well as effective mitigation strategies or risk awareness.

• Execute control validation or testing and completes relevant process documentation.

• Provide guidance to business areas on development and documenting of risk tolerances, and tracking and reporting of key performance and risk indicators

• Analyze data and prepare reports on business risks to identify themes or trends; communicates analysis of Groupwide themes or trends.

• Identify, measure, monitor, and report on information technology and cyber resiliency risks; assesses the adequacy of controls.

• Contributes to Business Continuity and Cyber Resiliency activities across the Group. 

What we are looking for: 

• Comprehensive Risk Expertise: strong understanding of technology, operational risks in particular, with strategic risk preferred.

• Change Leadership: proven ability to design and implement new risk management practices, consolidate controls, and drive organizational change.

• Process Optimization: experience with business process mapping, knowledge management, and improving process controls and resiliency.

• Outcome-Oriented: skilled at distilling complex issues, creating actionable outcomes, and presenting solutions effectively to diverse stakeholders.

• Interpersonal Skills: exceptional communication, presentation, and relationship-building abilities to influence key partners and support change efforts.

• Innovative Thinking: creative, forward-thinking approach to reengineering processes and addressing long-standing challenges in risk strategy and capability development.

• Team Support: collaborative mindset to mentor and support existing analysts, fostering a cohesive and high-performing team dynamic.

• Experience working with or as part of an enterprise risk management three lines-of-defense (3LoD) model, preferably as part of a ‘1b’ team.

• Working knowledge of GRC solutions (e.g., Archer, BWise), and SAFR/FISMA compliance a plus.

Salary Range: $116500 – $158000 / year

We believe in transparency at the NY Fed. This salary range reflects a variety of skills and experiences candidates may bring to the job. We pay individuals along this range based on their unique backgrounds. Whether you’re stretching into the job or are a more seasoned candidate, we aim to pay competitively for your contributions. 

Our Touchstone Behaviors—Communicate Authentically, Collaborate Inclusively, Drive Progress, Develop Others, and Take Ownership—help shape the culture of the Bank. They also provide a shared language for how we work together and achieve success, and they set clear expectations for leading with impact at every stage of your career with us. Learn more. 

Benefits: 

Our organization offers benefits that are the best fit for you at every stage of your career: 

• Fully paid Pension plan and 401k with Generous Match 

• Comprehensive Insurance Plans (Medical, Dental and Vision including Flexible Spending Accounts and HSA) 

• Subsidized Public Transportation Program 

• Tuition Assistance Program  

• Onsite Fitness & Wellness Center 

• And more 

This position requires access to confidential supervisory information (CSI) and/or Federal Open Market Committee (FOMC) information. Access to CSI and FOMC information is limited to U.S. citizens, lawful permanent residents, individuals who meet the definition of “protected individual” under 8 U.S.C. § 1324b(a)(3), and certain other nonimmigrants. All non-U.S. citizens authorized to access CSI and/or FOMC information must sign a declaration of intent to expeditiously become a lawful permanent resident and thereafter a U.S. citizen when eligible.   

The New York Fed expects its employees to perform their duties with honesty, integrity, and impartiality, and without improper preferential treatment of any person. Learn more about our code of conduct and conflicts of interest rules.  

  

The Federal Reserve Bank of New York is committed to a diverse workforce and to providing equal employment opportunity to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, pregnancy, or military service.  

  

We value accessibility for all candidates and are happy to provide an accommodation or assistance. Please email us at ny.leaves@ny.frb.org and we’ll be glad to help. Please note, this is a dedicated e-mail box designed exclusively to assist applications with accommodation requests in relation to our recruiting process. All other inquires including the status of applications will not receive a response from this e-mail box.   

  

This is not necessarily an exhaustive list of all responsibilities, duties, performance 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, management reserves the right to revise the job or to require that other or different tasks be performed when circumstances change.  

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

Yes

Job Category

Risk Management

Work Shift

First (United States of America)

The Federal Reserve Banks believe that diversity and inclusion among our employees is critical to our success as an organization, and we seek to recruit, develop and retain the most talented people from a diverse candidate pool. The Federal Reserve Banks are committed to equal employment opportunity for employees and job applicants in compliance with applicable law and to an environment where employees are valued for their differences.

Always verify and apply to jobs on Federal Reserve System Careers (https://rb.wd5.myworkdayjobs.com/FRS) or through verified Federal Reserve Bank social media channels.

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