Federal Reserve Bank of Chicago About Us
Federal Reserve Financial Services (FRFS) delivers a suite of payments services to financial institutions via FedLine® Solutions, Fedwire®, National Settlement Service (NSS), FedCash®, FedACH®, and Check Services. We are currently leading a strategic effort to transform FRFS to a national, enterprise-focused organization. Over time, FRFS will offer an increasingly integrated set of Federal Reserve payment services, incorporating the FedNowSM Service upon its market entry in 2023. Through our evolved structure, we will meet the needs of the marketplace for new products and services more quickly, we will seek to provide a more robust and unified customer experience across our financial service offerings, and we will create new career growth opportunities for FRFS staff.

We are seeking leaders to set the vision, strategy, values, and priorities that enable FRFS to achieve its mission. Our leaders must demonstrate a strategic, action-oriented mindset focused on intellectual curiosity, agility, accountability, and the ability to inspire creativity through experimentation. To achieve our vision for a people-focused organization with a strong collaborative and innovative culture, we expect our leaders to champion an inclusive environment and demonstrate our values in how we work and interact with each other and our broader community.

Summary
As a FRFS Senior Risk and Compliance Analyst you will be responsible for analytical and project management support for the planning and execution of the Federal Reserve Financial Services (FRFS) Enterprise Risk Management (ERM) program. You will be an important member of the ERM team, ensuring the transformation of ERM goals into ongoing FRFS' risk management processes, fostering a strong risk culture, and permeating risk management throughout the FRFS organization and in how we do business. You will participate in system workgroups and project teams. You will provide ad-hoc support to senior management.

The level of work is considered advanced. You will have no direct reports. You will report to the ERM Manager. #LI-REMOTE

This position internally will be titled as a Senior Business Analyst.

• Collaborate with partners across the organization to implement risk management practices and methods for identifying, assessing, monitoring and reporting of risks.
• Build relationships across FRFS by providing guidance and assistance to first line areas to aid in their management of risk and compliance matters.
• Create and maintain risk-related reporting for a variety of stakeholders.
• Provide consultative risk management expertise to support FRFS strategic initiatives, projects, and analysis; may function as a team and project lead in performing risk assessments, coordinating work and deliverables for team participants.
• Identify and assess strengths, weaknesses, risks, or gaps in existing business and technology practices/processes, and develops or recommends viable solutions or appropriate mitigation strategies.
• Understand risks and effect of potential changes (system & operational) on business processes and system performance to aid in the development of effective testing and arrives at a logical balance between cost, quality, production, and control.
• Under minimal supervision, manage own work by outlining initiative, project, or analytical requirements in terms of resources, equipment, time, and/or costs. Direct small scope efforts to other team members as appropriate and monitor's progress.
• Communicate progress, observations, and recommendations to appropriate levels of leadership and constituents.
• Act as an escalation point for risk issues and action items as brought forth by leadership, initiative owners, or team members and responds to issues or problems that arise with proposed solutions to keep deliverables/outcomes on schedule and ensure overall timely and effective completion.
• Maintain a high level of working knowledge regarding FRFS products/services, ERM industry practices, COSO control practices and project management disciplines; understands and promotes risk management, project management and process-improvements practices.
• Partners with internal audit, external auditors, Board of Governors staff and departments to achieve ERM goals.

• Bachelor's degree or equivalent experience as noted below
• 5 to 7 plus years of direct work-related experience
• Knowledge of risk management discipline and practices
• Knowledge of GRC or related risk management applications.
• Experience communicating at all levels, including, executives, technologists and business management
• Strong analytical, independent thinking and decision-making abilities
• Excellent written and verbal communication skills
• Apply both specific and broad knowledge of risk management principles, practices, and procedures in the completion of assignments

• Comprehensive benefits package include medical, dental, vision, prescription drug coverage, 401k savings plan, retirement plan, paid time off, transit benefit, onsite gym and subsidized cafeteria
• A continuous learning environment with opportunities to gain new skills and grow your career

• Comprehensive benefits package include medical, dental, vision, prescription drug coverage, 401k savings plan, retirement plan, paid time off, transit benefit, onsite gym and subsidized cafeteria
• A continuous learning environment with opportunities to gain new skills and grow your career

Full time Regular Yes Analytical First (United States of America)