Enterprise Risk Management Specialist

Company

Federal Reserve Bank of Philadelphia

The Federal Reserve Bank of Philadelphia is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System.

It helps formulate and implement monetary policy, supervises banks and bank and savings and loan holding companies, and provides financial services to depository institutions and the federal government.

The Federal Reserve Bank of Philadelphia serves eastern and central Pennsylvania, southern New Jersey, and Delaware.



* What You Will Do:


* Under direct supervision by the ERM Manager, you will have responsibility for executing risk management activities, including directing and implementing ERM strategies and operations to ensure adherence to the ERM framework.


* Support the end-to-end operations of the ERM function including identifying, assessing, prioritizing, mitigating, monitoring, and reporting on enterprise-wide risks facing our organization.


* Develop, implement, and maintain comprehensive ERM policies, standards and procedures, ensuring alignment with industry best practices, and organizational goals.


* Partner with all departments across the Bank to identify risks and monitor action plans through risk assessments, operationalize risk appetite statements, tolerances and measures to ensure they are embedded across the organization.


* Help enhance the Bank’s risk position by applying latest technologies and data analytics to ensure the maintenance and implementation of the best risk practices.


* Foster a culture of proactive risk management across the Bank, promoting risk awareness and culture applying a three lines of defense approach across the Bank.


* Provide support to the Bank`s Risk Management Committee (RMC) in preparing risk reporting materials detailing the health of ERM and assist ERM Officer and Manager in communicating with the wider System and Bank groups (e.g., Audit Committee of the Board of Directors).


* Under the supervision of the ERM, serve as an important point of contact for internal and external auditors during Sarbanes-Oxley (“SOX”) audits, including coordinating audit activities, facilitating the provision of requested documentation, and ensuring resolution of audit findings.


* Assess existing internal controls related to financial reporting processes and identify areas for enhancement.


* Coordinate the documentation of internal controls, including process narratives, flowcharts, and control matrices.


* Monitor the effectiveness of internal controls through testing and evaluation, identifying deficiencies and recommending corrective actions.


* Prepare and present materials (e.g., status updates, findings overview) on control decisions and project status to executive and senior management.

What You Have:

Education and Experience:


* Bachelor's degree is preferred, or equivalent related work experience and education...