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.

What we do:

The Financial Services Group (FSG) operates, delivers, and oversees payments system processing for the Federal Reserve Bank of New York and for wholesale services on behalf of the Federal Reserve System. FSG provides depository institutions with various financial services - including access to funds, securities and national settlement services and depository institution access to currency and coin - as part of its central banking mission to ensure an efficient, effective and accessible financial services system. The Federal Reserve System's goal is to be the most trusted and respected provider of financial services in the world.

The Business Services Risk team is embedded in the business and engages the Bank's risk framework that applies the "three lines of defense" model to support management in maintaining a strong first line of defense against risk for the FSG's major business lines: Cash and Custody, Wholesale Product Office (WPO) and Reserve Bank Accounts and Services (RBAS).

Your role as Risk Management Associate:

You can have either lower Manhattan or East Rutherford, NJ as the primary location but with some travel to other location for meetings or training (when the work from home mandate is lifted and it is safe to travel between locations)

You will contribute to a variety of risk monitoring activities to support FSG operations and:

• Lead and support execution of complex risk management activities, and contribute to the planning and design of processes to identify risks, process and control improvement opportunities, and effective mitigation
• Advise the operations on monitoring of risk tolerance, risk indicators and effective controls, including those introduced by projects and/or change activities.
• Analyze information to understand risk exposure to the business and prepare reports on business risks to identify themes or trends for continuous improvement and promote effective information dissemination and transparency of existing and emerging material risks and control issues.
• Independently lead complex assignments, special projects, or initiatives in support of local or FRS partners to drive initiatives and develop solutions that improve risk management capabilities.
• Identify, evaluate and manage risks associated with third-parties who provide products or services supporting key business activities.

• Bachelor's degree, preferably in finance, accounting, business administration or equivalent work experience in the financial services industry
• 5+ years of experience in risk management disciplines, financial reporting, internal/external audit or compliance, and/or other control functions
• One or more relevant risk management and/or audit certifications (CISA, PRM, FRM, CRMA preferred), with ability to apply relevant risk management and control frameworks and industry best practices to support business objectives.
• Experience using Excel for data visualization and producing analytical reports/narratives identifying themes/trends for senior managers.
• Experience in using analytical and quantitative skills to support decision making for Executive Level audiences
• Experience in developing communications (verbal, written, and presentation) skills, with demonstrated ability to communicate effectively to an executive audience in a way that demonstrates understanding of connection to strategic context

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
• Flexible Work Arrangements
• And more

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.

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.