AS5/SOX Compliance Business Analyst

Federal Reserve Bank of Minneapolis

Federal Reserve Bank of Minneapolis

IT, Legal
Minneapolis, MN, USA
Posted on Saturday, October 14, 2023


Federal Reserve Bank of MinneapolisThe Federal Reserve Bank of Minneapolis is seeking a Compliance Business Analyst for the Audit Standard 5 (AS5/COSO/SOX) compliance function to interact with a wide variety of individuals in all Bank departments including senior management. AS5 partners and assists Bank management in assessing the effectiveness of internal controls over financial reporting (ICFR) under Auditing Standard No. 5 (AS 5) and facilitating the AS 5 COSO/SOX program for the Bank.

Job Description:

AS5 responsibilities include partnering with business lines to assess the design of internal controls and testing of internal controls on behalf of division management. The Business Analyst will devote approximately 70 percent of their time to internal controls and related AS5 activities, and the remaining 30 percent to support other Compliance and Risk Management work.

AS 5 responsibilities:

  • Understand process, risk and internal controls.
  • Evaluate the effectiveness of ICFR by conducting tests of department identified internal key controls.
  • Follow Federal Reserve System and AS5 guidance on testing and documenting work.
  • Prepare testing workpapers and assist in preparing reports, procedures, and presentations.
  • Interact with various levels of department staff, including senior management, as appropriate.

Other Compliance and Risk management responsibilities:

  • Review and provide feedback to business units on their strategic and risk management plans and objectives.
  • Administer the Control System Evaluation (CSE) survey, conduct Enterprise Risk Management assessments, and participate on other projects as assigned.
  • Contribute to other Bank efforts or System work groups and complete special assignments, studies, and analyses, as needed.
  • Interact with business partners and collaborating with internal stakeholders.

Qualification Requirements:

  • Bachelor’s degree with coursework in Business Administration, Accounting, Finance, or related field, or an equivalent combination of education and related work experience.
  • Five or more years of analytical and/or project management experience to include experience assessing internal controls.
  • 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) and Internet Explorer.
  • 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
  • Free public transportation passes
  • 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, we work together to represent you in our economy.

* 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.

Full Time / Part Time

Full time

Regular / Temporary


Job Exempt (Yes / 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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