Job Information
Federal Reserve Bank Internal Controls Analyst or Senior Analyst in Cleveland, Ohio
Company
Federal Reserve Bank of Cleveland
The Federal Reserve Bank of Cleveland is part of the nation’s central bank and we’ve provided many opportunities for professional growth during our history.
For twenty-five years in a row, we’ve been named “One of Northeast Ohio’s Best Places to Work” by North Coast 99. This prestigious award honors organizations with outstanding employment practices, including compensation, benefits, training, recruitment, retention, community services, and employee communications.
Our People Make the Difference! The Federal Reserve Bank of Cleveland is seeking innovative thinkers with vision to build the framework that will carry the Bank into the future.
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This role is based in Cleveland, Ohio, and is a hybrid work arrangement - individuals may be required to work some days in the Federal Reserve Bank of Cleveland while working the other days from home.
Do you have COSO, SOX, or compliance-based experience to bring to the Cleveland Fed? Are you skilled in building collaborative relationships? Are you an effective communicator that leads with integrity? Are you excited about playing a role in ensuring that the Bank’s internal controls over financial reporting are sufficient to mitigate financial statement risks?
The Federal Reserve Bank of Cleveland is seeking a highly motivated, dynamic, and qualified candidate for this role. Here you’ll bring your professional experience, talent, and drive to support an organization grounded in commitment to public service dedicated to ensure a stable economy for all.
Organizational Expectations :
As a member of the COSO team within Financial Management, you will provide guidance to Bank management related to ICFR/COSO requirements and governance for the Fourth District. You will support efforts to ensure that effective processes of internal controls and financial reporting are in place.
General Responsibilities :
Assists and helps to lead facilitating the annual control assertion process for functional areas, including overseeing control testing, participating in testing, and advising management of discrepancies.
Coordinates and supports Control Owners, including participating in walk throughs, to ensure that internal controls over financial reporting are effectively identified, designed, executed, and documented; and are sufficient to mitigate financial statement risks.
Performs scoping of internal controls for financial reporting, which includes periodic risk assessment, materiality assessment, and identification of significant accounts, processes and controls.
Collaborates and assists process owners to develop process flows and/or narratives to identify risks and map process controls.
Performs individual and aggregate control deficiency analysis; coordinates and participates in the preparation of the Summary of Aggregated Deficiency Report. Recommend appropriate remediation plan, and track remediation status.
Monitors major changes in business, process and systems and collaborates to ensure timely updating of controls documentation to mitigate the risks.
Evaluates and reviews third-party deficiencies reported by internal and external service providers for impact to the Bank
Applies accounting knowledge and experience to identify improper accounting, documentation and opportunities to improve the efficiency and effectiveness of business processes and control activities.
Participates in developing training resources for stakeholders including delivery of sessions to business lines.
Maintains key documentation related to control assertion program.
Develops meeting materials, including presentations, for the Bank's senior management, Board of Directors and Audit Committee.
Provides support in coordinating the annual external audit by providing relevant ICFR/COSO information. Collaborates with external auditor and functional areas to ensure information requests are properly fulfilled.
Participates in department, Bank and/or FR System projects.
Uses technical skills to enhance ICFR/COSO program and support the enhancement and development of related applications.
Leads/completes ad-hoc projects and/or assignments.
May develop and deliver training resources for stakeholders, including delivery of sessions to business lines.
Performs other duties as assigned or requested.
Education and Experience :
Internal Controls Analyst:
Bachelor's Degree in Accounting, Finance, Business, Management Information Systems, or related field with 3+ years of related experience,
Experience in accounting, audit, risk management desired
CPA, CIA or CISA in process is a plus
Internal Controls Senior Analyst:
Bachelor's Degree in Accounting, Finance, Business, Management Information Systems, or related field with 5+ years of related experience,
Experience in accounting, audit, risk management desired
CPA, CIA or CISA in process is a plus
Knowledge and Skills :
Knowledge of compliance and control related disciplines and practices.
Knowledge of GRC or related risk management application functionality
Knowledge of accounting and financial reporting
Knowledge of project management
Knowledge of Microsoft Office Suite
Knowledge in problem solving and analytical skills
Attention to detail
Ability to articulate written and verbal communications to a variety of stakeholders within an organization
Strategic thinking and planning skills.
Self-awareness/high emotional intelligence
Accountability
Knowledge and ability to lead others and manage multiple and time sensitive activities.
Ability to effectively lead facilitated discussions
Physical Demands and General Working Conditions
Traditional office environment: Employees typically sit most of the day, work with a computer and may answer/respond to phone calls. Physical movement consists of walking for meetings, breaks, etc. Ability to lift items weighing approximately 20 pounds on a limited basis is required. Addendum as needed: Employees may be required to travel by car/air.
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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.
Always verify and apply to jobs on Federal Reserve System Careers ( https://rb.wd5.myworkdayjobs.com/FRS ) or through verified Federal Reserve Bank social media channels.
Privacy Notice (https://www.kansascityfed.org/documents/7797/Workday_Privacy_Notice.pdf)
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.
Always verify and apply to jobs on Federal Reserve System Careers (https://rb.wd5.myworkdayjobs.com/FRS) or through verified Federal Reserve Bank social media channels.
