Compliance Business Analyst III

CompanyFederal Reserve Bank of MinneapolisThe Federal Reserve Bank of Minneapolis is seeking a Compliance Business Analyst for the newly formed Enterprise Compliance division to help build and implement a robust compliance function through collaborating with a wide variety of individuals and functions across Bank departments including senior management.Enterprise Compliance partners and assists Bank management in assessing compliance risks inherent in their business with the potential for breaches and non-compliance, determining the effectiveness of the Bank’s compliance control environment, and asserting to the design and operating effectiveness of compliance controls at the Bank. This is a key role in keeping senior management informed on the state and health of compliance and potential effect on strategy.The Bank believes in flexibility to balance the demands of work and life while also recognizing the necessity of connecting and collaborating with our colleagues in person. Onsite work is an essential function of this position, and you are expected to be in the office 3 days per week for meetings and team collaboration, unless directed otherwise by your supervisor.Job posting will close on 10/20/2024.Responsibilities:Compliance responsibilities include partnering with business lines to assess compliance risks, gauge the effectiveness of the compliance control environment, and report on the state of compliance at the Bank. The Compliance Business Analyst will devote approximately 80 percent of their time to Compliance activities, and the remaining 20 percent to support AS 5 COSO SOX and Risk Management work.Enterprise Compliance responsibilities:

Point of contact for 6-7 divisions for Compliance,

Learn the business line and/or bank-wide processes to ensure internal policies and requirements are understood, compliance risks are monitored, identified, and managed, breaches and trends are reported, remediation plans developed as applicable.

Partner with and assist divisions to identify and assess the compliance risks inherent in their business with the potential for breaches and non-compliance.

Partner with and assist division to monitor and determine the design and operating effectiveness of the compliance control environment.

Report to division management on compliance risk profile.

Other AS 5 COSO SOX and Risk management responsibilities include:

Understand process, risk, and internal controls of in-scope ICFR activities.

Evaluate the effectiveness of ICFR by conducting tests of department identified internal key controls.

Prepare testing workpapers and assist in preparing reports, procedures, and presentations.

Interact with various levels of department staff, including senior management, as appropriate.

Qualification Requirements :

Bachelor’s degree AND minimum of 5 years of experience analytical and/or project management/implementation experience to include experience in compliance and assessing internal controls.

Experience in a business operations or financial environment preferred.

Experience raising and leading a new function.

Proficient in compliance, internal policies, risk management, gap analysis, policies, standards, and controls.

Learning agility, critical thinking, ability to manage details and deal with ambiguity.

Collaborative, facilitation skills and ability to build relationships and trust.

Strong communications skills: individual can professionally and effectively communicate (both written and verbal) with people from different levels of the organization.

Strong analytical skills, attention to details, and the ability to learn and apply new concepts quickly.

Ability to handle multiple priorities simultaneously.

Excellent team player with the ability to work independently.

Proficient with Microsoft Office applications (Word, Excel, PowerPoint, Visio)

Certification desirable (e.g., CPA, CIA, or CISA).

Our total rewards program offers benefits that are the best fit for you at every stage of your career:

Comprehensive healthcare options (Medical, Dental, and Vision)

401(k) match, and a fully-funded pension plan

Paid time off and holidays

Generously subsidized public transportation

Annual educational assistance

On-site fitness facility

Professional development programs, training, and conferences

And more…

The Minneapolis Fed is committed to developing a diverse workforce and providing an inclusive environment where all employees are respected and valued. We believe that we can foster development opportunities for all and reach our full potential by recognizing the unique experiences and identities of each of our colleagues. From economists to cash specialists (https://www.minneapolisfed.org/about-us/careers/job-profiles) , we work together to represent you in our economy.Full Time / Part TimeFull timeRegular / TemporaryRegularJob Exempt (Yes / No)YesJob CategoryAccounting/FinanceWork ShiftFirst (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/WorkdayPrivacyNotice.pdf)