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.
The Quality Assurance (QA) Department, within in the Supervision Executive Office, executes on the mandated quality assurance program for the Supervision Group. QA is structured in a manner that allows it to be independent of the business lines.
The Quality Assurance mandate, outlined in AD-07-23, is to evaluate the quality of supervisory processes and associated products to identify and confirm sound practices, in accordance with System Guidance. Quality Assurance's core mission is to identify patterns of errors or noncompliance to ascertain possible systemic issues in business line processes and procedures, not isolated errors or situations. Individuals in this job are involved in developing and executing a strong quality assurance program that independently evaluates quality of supervisory processes and products..
Your role as a Quality Management Senior Associate:
The team is structured in a business model format (each person on the team will have responsibility for understanding one or more lines of business) and each person is expected to develop subject matter expertise with regard to one or more products (e.g. risk assessment, operating procedures) as well as outreach with one stakeholder (e.g., Quality Control Council, Senior Management Oversight Committee, the QA CoP). The work conducted by members of the QA team in pursuit of executing on a QA program involves the following activities and each member of the team is expected to contribute to this body of work:
Conduct an annual QA risk assessment, prioritization process, and development of an annual plan;
Plan and conduct independent QA reviews, which involve:
Evaluating the effectiveness, efficiency, quality and consistency of supervisory processes, products and associated controls;
Determining compliance with internal and external policies and guidance, utilizing a risk focused approach
Produce written reports that identify strengths, weaknesses or gaps in supervisory processes uncovered during QA reviews and make recommendations to remediate identified weaknesses and address non-compliance issues;
Communicate findings from reviews with peers, business line management, the Senior Management Oversight Committee and the Board
Monitor and report on all open items from QA Reviews
Monitor all findings and action plans related to other external reviews (e.g. Board, Internal Audit) and create comprehensive reporting for the Group's senior management team;
Contribute to and maintain information QA repositories and applications.
Participate in System initiatives through the QACoP and attend QACoP activities.
Execute other QA projects, as necessary.
Qualifications: What we are looking for:
This individual will be able to demonstrate:
Well-developed knowledge of banking regulatory products and processes
Proven strategic and analytic problem solving skills
Prioritization skills and organizational abilities to manage multiple assignments
Excellent written and oral communication and facilitation skills
Strong presentation skills
An examiner commission from a U.S. regulatory agency or sufficient progress in the FRS program
Bachelor`s degree required; Master`s Degree in business or finance, is a plus
Five to seven years of relevant supervisory experience
Experience and/or knowledge of the safety and soundness supervisory program as conducted by the Federal Reserve System in one or more Supervision portfolios (FMI, LFBO, CBO, RBO, FBO)
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 services 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.
Internal Number: 5931843
About Federal Reserve Bank of New York
eFinancialCareers is a career site specializing in financial services.