Financial Regulatory Reporting Senior Associate

Federal Reserve Bank of Minneapolis

Federal Reserve Bank of Minneapolis

Accounting & Finance, Legal
Boston, MA, USA
Posted on Saturday, September 2, 2023

Company

Federal Reserve Bank of BostonWorking at the Federal Reserve Bank 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. It is a challenge that demands the skills of a financial service professional and the intelligence of an academic—all combined with a passion for public service.

This job is eligible for a hybrid schedule with some on-site work expected.

Overview of Team/ Function:

The Statistics Unit at the Federal Reserve Bank of Boston is structured under the Supervision, Regulation, and Credit Department. We collect and analyze financial data submitted to the Federal Reserve Bank by a variety of institutions, to ensure that the reported data are "reasonable" and fit for their intended use of supporting monetary policy and financial stability efforts. Data from our unit also are used to develop surveillance models, which our examiners and analysts use to determine the financial condition of banking institutions.

We have an immediate opening for a Financial Regulatory Reporting Senior Associate in the Financial/Regulatory Reports team. Reporting to the unit Supervisors, you will perform a wide array of financial and business analyses on reported regulatory data and analyze and assess firms' compliance with regulatory reporting standards. As a Financial Regulatory Reporting Senior Associate, you must maintain a curiosity about data and an analytical thought process that uses tools and experiences to examine data and work with Federal Reserve System peers, management, and external groups on the provisioning and quality of data.

Responsibilities:

  • Provide, with appropriate oversight, financial and business analyses that highlight data issues, and present contextual information that supports the reasonableness of the reported data.
  • Recognize, identify, and document data anomalies, trends, and cause-effect relationships to ensure compliance with business policies and regulations and to communicate with multiple stakeholders about needed corrective actions related to data quality and compliance.
  • Summarize multiple sources of information concerning data collections and relationships of varying sizes and degrees of complexity to produce well-supported and influential analyses and inquiries.
  • Build effective working relationships with reporting firms' financial management teams and Board analysts.
  • Work with local and national colleagues to support data analyses and regulatory reporting projects.
  • Collaborate on and contribute to local and national programs that support the strategic direction of the Reserve Bank and System.
  • Research potential changes to key accounting rules, laws, regulations, and supervisory policies, and evaluate their relevance to, and impact on institutions.
  • Advance and support diversity and inclusion efforts, and encourage diverse perspectives and approaches.

Qualifications:

  • Bachelor's degree in Finance, Accounting, or a related discipline or equivalent.
  • 2+ years of job-related financial reporting or regulatory reporting experience.
  • Financial statement analysis.
  • Strong conceptualization skills, including assessing information, proposing a solution, and implementing a decision.
  • Deliver communications that convey technical topics in simple, concise terms, with all levels of bank and depository institutions' management and staff.
  • Experience connecting with all levels of an organization.

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)
  • 401K match, and a fully funded pension plan
  • Paid vacation and holidays; flexible work environment, healthy workflow
  • Generously subsidized public transportation
  • Annual tuition reimbursement
  • Professional development programs, training, and conferences
  • And more…

The Federal Reserve Bank is committed to a diverse, equitable and inclusive workplace and to provide equal employment opportunities to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, or military service.

This position requires access to confidential supervisory information and/or FOMC information, which is limited to "Protected Individuals" as defined in the U.S. federal immigration law. Protected Individuals include, but are not limited to, U.S. citizens, U.S. nationals, and U.S. permanent residents who either are not yet eligible to apply for naturalization or who have applied for naturalization within the requisite timeframe. Candidates who are not U.S. citizens or U.S. permanent residents may be eligible for the information access required for this position and sponsorship for a work visa, and subsequently for permanent residence, if they sign a declaration of intent to become a U.S. citizen and meet other eligibility requirements.

All employees assigned to this position will be subject to FBI fingerprint/ criminal background and Patriot Act/ Office of Foreign Assets Control (OFAC) watch list checks at least once every five years. All candidates must undergo an enhanced background check and comply with all applicable information handling rules.

The above statements are intended to describe the general nature and level of work required of this position. They are not intended to be an exhaustive list of all duties, responsibilities or skills associated with this position or the personnel so classified. While this job description is intended to be an accurate reflection of this position, management reserves the right to revise this or any job description at its discretion at any time.

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

No

Job Category

Work Shift

First (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.

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