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Regulatory Data Analyst

Federal Reserve Bank of Minneapolis

Federal Reserve Bank of Minneapolis

IT, Legal, Data Science
Multiple locations
Posted on Tuesday, December 12, 2023

Company

Federal Reserve Bank of ClevelandThe Federal Reserve Bank of Cleveland is part of the nation’s central bank and we’ve provided many opportunities for professional growth during our history.

We’ve been named “One of Northeast Ohio’s Best Places to Work” by North Coast 99. This prestigious award honors organizations with outstanding employment practices, including compensation, benefits, training, recruitment, retention, community services, and employee communications.

The Federal Reserve Bank of Cleveland serves the Fourth Federal Reserve District, which comprises Ohio, western Pennsylvania, eastern Kentucky, and the northern panhandle of West Virginia. It is one of 12 regional Reserve Banks that, together with the Board of Governors in Washington DC, make up the Federal Reserve System, the central bank of the United States.

The Bank’s mission is to foster the stability, integrity, and efficiency of the nation’s monetary, financial, and payments systems to promote optimal economic performance across the country and within the Fourth District.

Collects, validates, and interprets moderately complex financial and/or structure data using a variety of tools and applications to assess quality and accuracy, and ensure fit-for-use data are provided in accordance with guideline established by policymakers and other stakeholders to carry out the Federal Reserve’s monetary policy, supervision and regulation, and fiscal agency responsibilities. Researches and analyzes data and problems to assist with development and implementation of emerging technology recommendations to enhance processes related to operations and strategic initiatives.

Essential Accountabilities

  • Applies technical subject matter expertise, investigative techniques, and judgment around data collections by identifying anomalies and trends.
  • Understands interrelationships between data collections consistent with financial reporting concepts; may provide context and information on emerging topics of interest to local stakeholders and data end-users.
  • Clearly communicates conclusions, analytical findings, and value-added information regarding complex and emerging topics to Board of Governors staff and other stakeholders.
  • Leads local strategic and operational initiatives and influences System initiatives.
  • Applies in-depth understanding of core business systems and applications; identifies, creates, enhances, and implements analysis methods.
  • Provides guidance to financial institutions regarding Federal Reserve regulations and reporting instructions to guide report preparation, requirements, and technical issues; comments on proposals as needed.
  • Conducts outreach to financial institutions to enhance understanding of regulatory reporting or accounting changes.
  • Provides value-added information to Bank and Holding Company exams to assess institutions' processes and procedures to promote proper reporting of data.
  • Performs moderately complex analyses of technology-related information to troubleshoot and resolve technical business issues.
  • Facilitates information sharing and analyzes information from end users and stakeholders to ensure processes and applications meet business needs; supports implementation of new applications for process improvement.
  • Directs moderately complex projects to ensure ongoing integrity, efficiency and compliance of business operations.
  • Key participant in the development and design of testing strategies; identifies and documents audit and Board requirements to ensure data and system integrity.
  • Provides leadership support to cross-functional team initiatives and technology-based projects.
  • Performs other duties as assigned or requested.

Education and Experience

  • Bachelor’s degree and 3 years of related work experience OR
  • Master’s degree and 1 year of related work experience

Knowledge and Skill Areas – Intermediate Level

  • Ability to perform independent research
  • Microsoft Office
  • Regulations, procedures and practices of accounting, banking, and financial institution operations
  • Knowledge of project management tools
  • Problem solving and analytical skills
  • Specialized operational/technical skills (e.g., data mining and querying)
  • Written and verbal communication
  • Basic strategic thinking/planning

General Working Conditions and Physical Demands

Traditional office environment: Employees typically sit most of the day, work with a computer and may answer/respond to phone calls. Physical movement consists of walking for meetings, breaks, etc. Ability to lift items weighing approximately 20 pounds on a limited basis is required. Employees may be required to travel by car/air.

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

Yes

Job Category

Analytical

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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