At the Federal Reserve Bank of New York, the work we do is consequential and challenging. Our environment encourages growth and diversity. Our employees flourish in a team-oriented atmosphere and are dedicated to the important mission of the New York Fed.
What we do:
The Research and Statistics Group provides analytic support for the Bank's responsibilities relating to monetary policy, banking supervision, payments systems, and financial market issues. The Group contributes to the formulation and execution of policy in these areas, while also conducting independent economic research on a wide range of topics. The business areas include: Capital Markets, Financial Intermediation, International Research, Macroeconomic and Monetary Studies, Microeconomic Studies, Money and Payments Studies, Regional Analysis, RSG Group Shared Services, and Data and Statistics.
The Unit's objective is to evaluate the data integrity of financial institution's regulatory reports in support of the Federal Reserve System's (FRS) mission in assessing the safety and soundness of the financial system. Specifically, the Unit is responsible for conducting, on behalf of the Supervision and Regulation Group (S&R), national and local Federal Reserve Bank onsite reviews of regulatory reports at Large Institution Supervision Coordinating Committee (LISCC) , Large & Foreign Banking Organization (LFBO), and Regional Banking Organization (RBO) institutions. The primary objective of these reviews is to assess the quality at source of an institution's regulatory reports and evaluate the effectiveness of the regulatory reporting process, including an assessment of governance, internal controls, data infrastructure, and internal audit. Also, the Unit is responsible for performing engagement management with stakeholders, working closely with S&R and Statistics senior management across the FRS, while managing relationships and outreach with reporters, including senior management at institutions.
Your role as Senior Financial Associate:
Lead (Examiner-In-Charge) or participate in onsite regulatory reporting reviews at LISCC , L FBO, and RBO institutions
Evaluate an institution's key components of their regulatory reporting processes
Review selected regulatory reports for accuracy, including end-to-end transaction-level testing (validating source documentation or information to reported data)
Summarize and document findings or thematic issues identified from reviews
Present regulatory review findings to senior management, S&R and respective FRS oversight committees
Research, analyze , resolve, and clearly document complex accounting and reporting issues
Analyze large volume of financial data and attributes to identify anomalies and correlations
Assist Unit management in performing quality assurance by reviewing regulatory findings and examiner summaries of other staff members
Perform continuous monitoring and evaluation of regulatory report findings (Matters Requiring Immediate Attention and Matters Requiring Attention)
Assist in the design , implementation, and enhancement of policies, procedures, controls, and training for the national and local review programs
As EIC, provide in-depth training and coaching to assistant examiners
Develop and maintain close partnerships with relevant FRS stakeholders, including S&R, Board Statistics, and Data & Statistics Function management and peers
Active engagement with FRS stakeholders to drive and influence review findings and results
Develop and maintain strong relationships with reporters, including senior management
Provide insight, industry best practices, and technical expertise to reporters
Lead or participate in continuous monitoring activities with institutions and S&R
Provide advisory role services on regulatory reporting issues and accounting or finance subject matter to stakeholders, including S&R and Board Statistics
Qualifications: What we are looking for:
5-7 years experience and a Bachelor's or Masters' degree in accounting, finance or equivalent experience
Banking, financial and/or auditing industry experience, and knowledge of U.S. GAAP
Knowledge of regulatory reporting requirements
CPA beneficial, but not required
Familiarity with Basel III beneficial, but not required
U.S. citizens, U.S. nationals, or U.S. permanent residents are only eligible to conduct reviews
Extensive travel within the tristate area and out of state, including Puerto Rico, is required (three to four consecutive weeks of being onsite within an institution)
Excellent analytical and problem-solving skills, including the ability to understand and interpret review information
Strong prioritizing, planning, and organization
Excellent written and verbal communication, which includes the ability to clearly convey relevant information, including review findings, thematic issues, and expectations to management, at institutions and within the FRS
Proven ability in conducting presentations that provide value or influence decisions
Proven ability to independently synthesize complex information and effectively arrive at sound conclusions
Strong self initiative in identifying opportunities and being proactive in putting forth ideas and solutions
Proven relationship management abilities to influence stakeholders and drive results
Excellent interpersonal skills to effectively (1) interact with all levels of staff and management at institutions and within the FRS and (2) address conflict resolution
Proven ability in leading teams, working independently, or contributing as part of a team
Strong understanding of accounting (U.S. GAAP) principles, and the applicability to regulatory reporting
Proven abilities in meeting tight deadlines and adapting to a change in job responsibilities, including the ability to manage a variety of responsibilities simultaneously
Proven ability in analyzing large volumes of data to identify anomalies and correlations
Proven ability to drive results under tight deadlines, and under challenging and unpredictable situations
Proficient in Access, Excel, PowerPoint, and Word
This position requires access to confidential supervisory information, which is limited to "Protected Individuals" as defined in the U.S. federal immigration law. Protected Individuals include, but are not limited to, U.S. citizens, U.S. nationals, U.S. permanent residents who are not yet eligible to apply for naturalization, and U.S. permanent residents who have applied for naturalization within six months of being eligible to do so.
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, or military service.
Why the Fed:
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'll work in an environment with a diverse group of talented professionals to foster and support the safety, soundness, and vitality of our economic and financial systems. It's a challenge that demands the skills of a financial service professional and the intellectual curiosity of an academic—all combined with a passion for public service. The Federal Reserve Bank of New York is committed to a work environment that respects and fully values the strengths and differences of its people. Working at the New York Fed provides talented professionals the chance to grow their skills at an institution that has served a critical role in the financial system of the United States and the world for over a century. An important component of the Bank's diversity effort is our partnership with several professional non-profit organizations, including INROADS, JumpStart Advisory Group, NBDC Emerging Leaders, Seizing Every Opportunity, National Black MBA, Out for Undergrad, Prospanica and Reaching Out MBA. Click here to learn more.
Internal Number: 5896883
About Federal Reserve Bank of New York
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