Compliance Business Analyst - Minneapolis, United States - Federal Reserve System

Description

Company
Federal Reserve Bank of Minneapolis

The Federal Reserve Bank of Minneapolis is seeking a Compliance Business Analyst for the newly formed Enterprise Compliance division to help build and implement a robust compliance function through collaborating with a wide variety of individuals and functions across Bank departments including senior management.

Enterprise Compliance partners and assists Bank management in assessing compliance risks inherent in their business with the potential for breaches and non-compliance, determining the effectiveness of the Bank's compliance control environment, and asserting to the design and operating effectiveness of compliance controls at the Bank.

This is a key role in keeping senior management informed on the state and health of compliance and potential effect on strategy.

The Bank believes in flexibility to balance the demands of work and life while also recognizing the necessity of connecting and collaborating with our colleagues in person.

Onsite work is an essential function of this position, and you are expected to be in the office 3 days per week for meetings and team collaboration.

_This position is posted at two levels; however, there is only one vacancy.

The candidate will be selected based on the strength of the candidate pool, the candidate's skills and experience and the needs of the department.

_

Job Description

Compliance responsibilities include partnering with business lines to assess compliance risks, gauge the effectiveness of the compliance control environment, and report on the state of compliance at the Bank.

The Compliance Business Analyst will devote approximately 80 percent of their time to Compliance activities, and the remaining 20 percent to support AS 5 COSO SOX and Risk Management work.

Enterprise Compliance responsibilities:

• Point of contact for 6-7 divisions for Compliance,
• Learn the business line and/or bank-wide processes to ensure internal policies and requirements are understood, compliance risks are monitored, identified, and managed, breaches and trends are reported, remediation plans developed as applicable.
• Partner with and assist divisions to identify and assess the compliance risks inherent in their business with the potential for breaches and non-compliance.
• Partner with and assist division to monitor and determine the design and operating effectiveness of the compliance control environment.
• Report to division management on compliance risk profile.

Other AS 5 COSO SOX and Risk management responsibilities include:

• Understand process, risk, and internal controls of in-scope ICFR activities.
• Evaluate the effectiveness of ICFR by conducting tests of department identified internal key controls.
• Prepare testing workpapers and assist in preparing reports, procedures, and presentations.
• Interact with various levels of department staff, including senior management, as appropriate.

Qualifications:

• To be considered for the
  Compliance Business Analyst
  Level II:
• Bachelor's degree in a relevant field
  AND three (3) years of experience in Compliance
  OR MA degree
  AND two (2) years of experience in a Compliance position.
• To be considered for the
  Compliance Business Analyst
  Level III:
• Bachelor's degree in a relevant field
  AND five (5) years of full-time experience in Compliance
  OR MA degree in a relevant field
  AND three (3) years of experience in a Compliance position.

Applicable at both levels:

• Experience raising and leading a new function.
• Proficient in compliance, internal policies, risk management, gap analysis, policies, standards, and controls.
• Learning agility, critical thinking, ability to manage details and deal with ambiguity.
• Collaborative, facilitation skills and ability to build relationships and trust.
• Strong communications skills:

individual can professionally and effectively communicate (both written and verbal) with people from different levels of the organization.

• Strong analytical skills, attention to details, and the ability to learn and apply new concepts quickly.
• Ability to handle multiple priorities simultaneously.
• Excellent team player with the ability to work independently.
• Proficient with Microsoft Office applications (Word, Excel, PowerPoint, Visio)
• Certification desirable (e.g., CPA, CIA, CISA) and/or relevant compliance and risk professional certifications.

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

• Comprehensive healthcare options (Medical, Dental, and Vision)
• 401(k) match, and a fully funded pension plan
• Paid time off and holidays
• Generously subsidized public transportation
• Annual educational assistance
• On-site fitness facility
• Professional development programs, training, and conferences
• And more...

_The Minneapolis Fed is committed to developing a diverse workforce and providing an inclusive environment where all employees are respected and valued._ _We believe_ _that we can foster development opportunities for all and reach our full potential by recognizing the unique experiences and identities of each of our colleagues.

From_ economists to cash specialists ) _, we work together to represent you in our economy._

Full Time / Part Time
Full time

Regular / Temporary
Regular

Job Exempt (Yes / No)
Yes

Job Category
Accounting/Finance

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 \_Privacy\)
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.