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:
You will be a member of the Administrative Reserve Bank (“ARB”) team in the Financial Services Group. This team establishes and manages the practices and policies related to the provision of master accounts and Federal Reserve Financial Services (FRFS) for all Second District financial institutions. You will have an opportunity to help strengthen the program to support efficient provisioning of FRFS. The selected applicant will interact with multiple areas of the New York Fed and work in an important and high-visibility area. This work includes execution of a variety of analytical tasks, supporting business projects and initiatives to develop and formalize policies and supporting external customer related activities.
The selected candidate can have either New York or East Rutherford, NJ as the primary location but must be able to travel to other location for meetings and/or training as needed.
Your role as Compliance & Ethics Associate:
- Support development of processes, procedures and implementation of policies as they relate to first line compliance initiatives. Additionally, prepare responses to customers or external inquiries
- Conduct and present on various analyses and research ensuring that related policies are effective
- Perform routine monitoring of financial institutions’ use of Federal Reserve Financial Services and assessment of activities including those subject to the Bank’s High Risk Customer Policy
- Coordinate projects, work streams aimed at formalizing and improving the processes associated with first line risk management
- Participate on cross-bank work teams and ad-hoc work teams representing the interests of the Bank and FSG from an ARB perspective
- Leverage automated tools and data sources to enhance the analysis and support of compliance reviews, including for transaction reviews and reporting
- Perform activities to support anti-money laundering monitoring and customer compliance aspects
What we are looking for:
- Bachelor’s degree in liberal arts, general business, Legal Studies, or related field with at least five years of progressively increasing regulatory, compliance, risk management or audit experience or equivalent work experience;
- Experience preparing written reports, presentations, briefings, or recommendations for management;
- Ability to analyze and interpret financial and non-financial data, and policy issues and the impact of related geopolitical developments/events;
- Project management skills, including experience effecting process improvements.
- Knowledge or experience in Anti-Money Laundering core skills related to financial products and processes preferred;
- Knowledge of U.S. Economic Sanctions; OFAC requirements and screening methods. Industry-accepted compliance certification desirable (i.e. CAMS)
- Microsoft excel (can maintain complex spreadsheets and perform complex function), Access and Word
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 which you can find here