Federal Reserve Bank of BostonServes as a risk partner for second line assurance for the FRFS services, with focus on the FedNow service, consulting with the first line/business line and other second line partners to ensure proper identification, aggregation, escalation, and reporting of enterprise and program related risks in support of established frameworks and documented controls and processes. Facilitates discussions of current and emerging risks and mitigating actions with officers and staff of major business functions. Analyzes risks, including impediments to the successful achievement of strategic objectives, and provides risk management consultation and support to senior leadership and the FRFS Risk & Compliance Leadership Team. Designs and executes leading methods for risk assessments and reporting, including the use of risk analytics, automation, and KRIs, as needed. Develops risk communications to all levels of the organization, including senior management, the Board of Directors and its committees, and System stakeholders under the direction of the FRFS Risk & Compliance Leadership team. This position reports to an AVP of FRFS Risk & Compliance.
Key Responsibilities
Coordinates the second-line risk management assurance for a portfolio of FRFS services and programs, including consultative oversight of related policies and procedures, project plans, and risk registers. Analyzes enterprise-level risks to the organization, including operational, strategic, reputational, and financial risks.
Facilitates identification and review of current and emerging risks with FRFS officers and staff to inform decisions and enhance understanding and awareness.
Designs and develops senior management reports and presentations for FRFS leadership groups, the Board of Directors, and System stakeholders.
Supports the first line in the implementation and execution of program risk management standards and provides second line review and challenge as part of Agile methodology.
Consults on the overall risk management process, including risk assessment workshops and/or sessions with business and functional areas; consults with management and program leads on identified risks, possible action plans, and ongoing monitoring.
Collaborates with business areas to ensure the reporting of risk events, risk trends, and emerging risks that could impact the FRFS.
Communicates and escalates areas of heightened risk concern to leaders via the risk awareness memo process.
Identifies and facilitates automation and data analytics processes that support the risk management process.
Expected to demonstrate sound judgment and well-reasoned decision-making and communications in situations that involve complex issues and analysis.
Performs other duties as assigned.
This position does not directly supervise employees, but serves as the lead business advisor for the assigned portfolio of services, programs, and ad hoc risk areas.
Knowledge and Experience
Knowledge and experience normally acquired through, or equivalent to, the completion of a Bachelor’s degree and a minimum 7 years of job-related experience.
Highly-developed strategic and critical thinking, including the ability to deal with ambiguity, as well as strong analytical, problem-solving, and decision-making capabilities.
Strong business acumen and interpersonal skills, with a demonstrated ability to excel in working effectively with a diverse group of senior leaders and other stakeholders.
Excellent verbal and written communications skills, including presentation capabilities. Strong attention to detail, high standards of work and professional integrity.
Demonstrated excellence in team and project management and the ability to work on multiple assignments concurrently.
Strong technical knowledge related to payments required, with technical knowledge specific to FedNow desired.
Experience in Enterprise Risk Management, Internal Audit, or other assurance functions preferred.
Full Time / Part Time
Full time
Regular / Temporary
Regular
Job Exempt (Yes / No)
Yes
Job Category
Work Shift
First (United States of America)
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