Our Ability Jobs

Job Information

Federal Reserve System Risk & Compliance Analyst in Richmond, Virginia

Company

Federal Reserve Bank of Richmond

At the Richmond Fed, we’re driven by our mission to strengthen the economy and our communities. We take great pride in what we do, and it impacts everyday people every day. When you join our team, you’ll become part of a culture that welcomes differences, cares about our communities, and empowers each other to lead from where we are to make things better.

Bring your passion and we’ll provide challenging and purposeful careers in a variety of fields, opportunities to grow and a wide range of benefits and perks that support your health and wealth. It’s all part of what makes #MyRichmondFed a great place to work!

About the Opportunity

The Records and Information Management (RIM) department has an immediate opening for a Risk and Compliance Analyst - Intermediate, reporting to the Risk and Compliance Senior Manager. This position is a shared role providing technical support for RIM and compliance support for the Enterprise Risk and Compliance team. This role is an excellent opportunity for an individual to combine a strong technical aptitude with business analysis skills that focus on identifying and assessing risk, controls, and compliance opportunities, including data privacy.

This position will maintain and provide technical support for the centrally managed Federal Reserve System (FRS) physical records management application. This position will collaborate with team members, and at times manage projects, in support of FRS high priority objectives, department initiatives and tactical objectives. The role performs a variety of tasks to develop and implement efficient practices, effective processes and procedures, testing methods and application protocols.

This position will work with Enterprise Risk & Compliance team members to ensure that various business operations conform to internal and external compliance requirements. This role will identify, evaluate, and develop effective processes and procedures that meet requirements and standards and follow policy regulations. The role will partner with business areas to determine best practices and provide recommendations on how to improve current compliance practices regarding internal policies and controls, external legal and regulatory obligations, and standards and best practices related to compliance, including data privacy. The role will provide monitoring using researched data and feedback received from various stakeholders and will guide cross-functional linked teams to address policy, risk, or compliance issues.

What You Will Do:

Key Technical Responsibilities

  • Provide consulting and training on effective use of the physical records management application.

  • Interact with third-party vendor and System RIM contacts to resolve issues and identify solutions.

  • Serve as first-level support, problem resolution, and troubleshooting for functional application.

  • Implement established policies, standards, and procedures to assure the most efficient and secure configuration of the application.

  • Serve as subject matter expert for identifying root cause of problems to assure stability of the application and resolve end-user technical issues.

  • Ensure integrity and reliability of system and processes by developing appropriate testing and contingency protocols.

  • Manage, monitor, and report on application change management and production control activities.

Key Risk and Compliance Responsibilities

  • Maintain legal and regulatory compliance by researching and communicating requirements and providing recommendations to assigned business areas

  • Analyze business processes and controls to identify and assess risk, controls, efficiency, and compliance opportunities while working closely with existing business compliance functions

  • Support the awareness, training, inventory, assessment, and consultation on matters related to compliance with established data privacy standards as part of the Data Privacy Office and the System Privacy Program

  • Coordinate and collaborate with multiple business and functional areas on the development of internal controls and compliance measures

  • Support business areas efforts to develop a compliance management plan.

  • Identify trends consistent with potential risk or compliance issues; advise on tools and solutions to facilitate compliance and develop reports or records of associated activities.

  • Contribute to and create training presentations, online forums, articles, and other tools that could potentially be used to create program awareness.

  • Execute ongoing monitoring reviews in accordance with established procedures to provide ongoing independent assessment of compliance with applicable compliance requirements.

  • Provide advisory support to business areas on interpretation and application of compliance requirements and impact of operational breakdowns or findings.

  • Provide support to events, planning exercises and risk assessments related to risk mitigation.

Qualifications:

  • Bachelor’s degree in finance, business, accounting, information technology or similar field.

  • 2-5 years of compliance, risk management, data privacy, or related experience.

  • Strong technical aptitude.

  • Fundamental knowledge of risk mitigation methodologies, processes, and procedures of related specialty .

  • Excellent analytical, problem-solving, and critical thinking skills to review and interpret data, detect problem source, and determine best solution and preventative measures.

  • General understanding of information technology concepts (applications, data storage, data contingency, etc.).

  • Demonstrated ability to work professionally with personnel at all levels of the organization and handle sensitive information with the highest degree of integrity.

  • Independent thinking and decision-making abilities.

  • Strong written and verbal communication skills and presentation skills.

  • Demonstrated high degree of initiative, independence, self-discipline, and motivation within job specifications, as well as collaborating effectively in a team.

  • Proficient in Microsoft Office Suite applications.

Discover the Reason Why So Many People Love It Here!

When you join the Richmond Fed, not only will you find a challenging and purposeful career, you’ll also have access to a wide range of benefits and perks that support your health and wealth, including:

  • Great medical benefits

  • Pension and 401(k) with employer match

  • Paid time off

  • Tuition reimbursement

  • Employee resource networks

  • Paid volunteer leave

  • Flexible work options

  • Onsite amenities that make working here fun

Other Requirements and Considerations:

  • A requirement of this position is that the employee must be fully vaccinated against COVID-19; individuals who are unable to be vaccinated due to a medical condition or sincerely held religious belief may request an accommodation from the Bank.

  • Candidates should review the Bank’s Employee Code of Conduct to ensure compliance with conflict of interest rules and personal investment restrictions.

  • Salary offered will be based on the job responsibilities and the individual’s knowledge, skills, and experience as defined in the job qualifications/experience.

  • Applications are reviewed on a rolling basis.

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

Yes

Job Category

Analytical

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.

Privacy Notice (https://www.kansascityfed.org/documents/7797/Workday_Privacy_Notice.pdf)

OUR BANK has one of the most recognizable brands around the world. The Federal Reserve is the central bank of the United States—one of the world's most influential, trusted and prestigious financial organizations. The Federal Reserve is charged with the important mission of promoting a strong economy and a stable financial system and fulfills this responsibility by formulating national monetary policy, supervising and regulating banks and bank holding companies, and providing financial services for banks and the U.S. government.

OUR PEOPLE are diverse in background and ideas, which allows for ongoing creativity and innovation. Ultimately, they are the ones who push our high-performance, exchange-driven culture forward.

Why Our People Choose Us:

Our reputation precedes us

There will always be room for personal growth

Our people are first

You’ll find the right balance

Your responsibilities will be meaningful

We hope that you will be our future colleague.

DirectEmployers