HowYoullMake an Impact as a Risk and Control Associate:
- Support the implementation of the Markets Groups risk management program (i.e., risk identification, analysis, response, communication, monitoring and escalation). Under minimal supervision, engage with Markets business areas (e.g. Central Bank and International Account Services, Domestic and International Markets) in fulfilling deliverables and initiatives relating to the Banks risk standards (e.g., technology, operational, compliance, third-party, and financial statement reporting).
- Assess audit findings, risk events and technical incidents for root cause trends and process improvement opportunities; identify and monitor risks emerging from business process changes; analyze data and prepare reports, KRIs and KPIs on risks impacting the Markets Group to identify themes or trends, communicate analysis effectively to stakeholders and management to influence decision-making and prioritization.
- Conduct process walkthroughs, develop test plans, request support documentation, and perform independent tests of key controls for design and operating effectiveness. Document test results, analyze exceptions, assist management with control deficiency evaluations and the development of remediation plans, and perform follow-up testing to confirm effective and timely remediation.
- Assess business impact and propose corrective actions to issues (e.g., control testing, risk events, audit findings); prepare and present recommendations to business area, MRC management, second line control functions, and Internal Audit.
- Build and maintain strong relationships with business subject matter experts, technology partners, and other Bank or FRS stakeholders to provide consultation on the evaluation of process, risk and control changes.
- Apply AI models and tools to support day-to-day work such as summarizing documentation, drafting reports and communications, and analyzing data, in accordance with Bank policies and with appropriate validation of outputs. Help identify opportunities to use AI to improve the efficiency and quality of risk and control processes and contribute to understanding of the risks associated with AI use in Markets.
The Unique Skill SetsWereLooking For:
- Knowledge of risk management frameworks, practices and methodologies, including risk identification, assessment, monitoring and escalation, and the three lines model.
- Understanding of operational, compliance, financial statement reporting and technology control principles, including IT systems and controls. Familiarity with trading compliance risk and SOX 404 are a plus.
- Experience in auditing or testing for design and operating effectiveness, or other business process or IT controls assurance work.
- Technical abilities in data compilation and analysis, attention to detail and quantitative skills.
- Engagement coordination skills, including the ability to organize and facilitate stakeholder interactions, managing competing priorities and maintaining clear communication across teams.
- Basic proficiency in AI models and tools, including an understanding of their capabilities and limitations, effective prompt writing, and an awareness of the risks (e.g. accuracy, data confidentiality) and the need to validate AI-generated outputs.
- Proficiency in Microsoft Word, Excel, PowerPoint, Visio, SharePoint and Tableau. Experience with a GRC tool is a plus.
- Demonstrated competencies, skills and behaviors, including well-developed written and verbal communication skills, with the ability to convey risk and control information clearly to audiences ranging from business staff to senior management.
Other Things to Know:
Salary Range: $145000 - $175000 / year
We believe in transparency at the New York Fed. This salary range reflects a variety of skills and experiences candidates may bring to the job. We pay individuals along this range based on their unique backgrounds. Whetheryourestretching into the job or are a more seasoned candidate, we aim to pay competitively for your contributions.
HowWellSupport You:
Our programs andbenefitsare designed to support you through all your life stages:
- Learning & Growing:Educationalassistance, career development tools, and stretch opportunities
- Supporting Your Family:Parental leave, adoptionassistance, back-up dependent and elder care, college planning resources, and more
- Managing Your Health:Comprehensive insurance plans, leave policies, onsite Health & Wellness Center, and onsite Fitness Center
- OptimizingYour Finances:Pension plan, 401(k) with generous match, financial planning resources, and subsidized public transportation program
OurCulture is deeply grounded in ourTouchstone Behaviors
By working with us,youllhave the opportunity to develop anddemonstrateyour ability to Communicate Authentically, Collaborate Inclusively, Drive Progress, Develop Others, and Take Ownership. These competencies shape our culture here at the Bank. They also provide a shared language for how we work together and achievesuccess andset clear expectations for leading with impact at every stage of your career.Learn more.
Apply now ifyoureready to join us in strengthening the U.S. economy together. Want to consider our other opportunities?Click hereto see all our open roles.
This is not necessarily an exhaustive list of all responsibilities, duties, performance standards or requirements, efforts,skillsor working conditions associated with the job. While this is intended to bean accuratereflection 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.
Full Time / Part TimeFull time
Regular / TemporaryRegular
Job Exempt (Yes / No)Yes
Job CategoryInternal Oversight & Governance Family Group
Work ShiftFirst (United States of America)
