Compliance & Ethics Associate

Company

Federal Reserve Bank of New York

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.  

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

Employees can expect to be in the office a couple of days per week as needed for meetings and team collaboration and should live within a commutable distance. 

What we do:

The Compliance Function is a second-line independent advisory and control function within the Federal Reserve Bank of New York.

The mission of the Compliance Function is to protect the Bank and serve the public interest by ensuring the Bank adopts sound risk-based compliance controls and by promoting a strong ethical mindset.  

The Trading & Third-Party Compliance team within the Compliance Function is responsible for a number of compliance programs, including: (1) the Bank’s investigative due diligence program, (2) the Bank’s trading counterparty compliance program, and (3) the Bank’s Second Line trading compliance program for official trading activities.

Here is an overview of those programs:


* Investigative due diligence: conducts public record reviews of certain individuals and entities before their possible association with the Bank.

This includes potential members of the Bank’s Advisory Groups, Visiting Scholars, and speakers at Bankwide events.

Reviews of entities include potential trading counterparties, non-profit partner organizations, and other entities subject to an Ethics review.


* Trading counterparty compliance: conducts reviews of applications to become a Bank trading counterparty (e.g., primary dealer), and resolves compliance matters related to existing counterparties.


* Second Line trading compliance: the team helps to ensure that the Bank’s official trading operations, as part of monetary policy implementation and customer trades, are conducted in accordance with relevant requirements and in an ethical manner.

Depending on the skills and experience of the selected individual, and the needs of the broader team, the individual may focus on one of these compliance programs or be asked to contribute to more than one of the programs.

Your role as a Compliance Associate:


* Conduct comprehensive research including reviews of media sources, public records databases, and open-source information


* Analyze research results and identify potential areas of concern


* Prepare concise written summaries of research findings to inform Bank decisions


* Assist with the compliance review of counterparty applications to ensure applicants meet the Bank’s counterparty complianc...