Internal Audit Risk Specialist, Safety and Soundness

Federal Reserve Bank of Minneapolis

Federal Reserve Bank of Minneapolis

Multiple locations
Posted on Saturday, April 27, 2024


Federal Reserve Bank of St. LouisThe Supervision Division is looking for individuals with a background in Internal Audit to join our Safety & Soundness team. As an Internal Audit Risk Specialist, you will assess bank’s internal audit program including the effectiveness of the internal control environment and evaluate overall compliance with federal laws and regulations. You will work onsite in the Little Rock, AR, Memphis, TN or St. Louis, MO office.

Overnight travel is required, or if in range, commutable travel. You may travel approximately 50 nights per year, averaging 20-30% of workdays within the Eighth Federal Reserve District. It includes overnight stays (up to five consecutive days), travel mostly by vehicle, but some air travel may be involved. The St. Louis Federal Reserve Bank diligently works to provide a positive Work/Life Balance through a compressed work schedule and periodic work from home opportunities.


  • Assess compliance with Section 36 of FDICIA, Sarbanes Oxley (SOX) and reliance placed on the internal audit function.
  • Evaluate the effectiveness of the bank’s internal audit program including: audit governance, independence, staffing and expertise, policies, and procedures, planning and risk assessment, audit execution, quality assurance, vendor or co-sourcing, and external audit coverage.
  • Plan, participate, and lead supervisory events of more complex financial institutions.
  • Prepare informative, concise, and well supported supervisory products including work papers and communicate supervisory conclusions to financial institution management, other examiners, and Reserve Bank management.
  • Foster relationships with fellow examiners, Reserve Bank staff, financial institution management, and other federal and state banking regulators.
  • Invest in the development of your peers by sharing knowledge and providing peer level feedback, aligning with the St. Louis Federal Reserve's focus on employee growth.


  • Bachelor’s degree in business, accounting, economics, finance, or related field.
  • 5+ years of experience in a bank internal audit environment such as a Chief Audit Executive or senior/staff auditor at a depository institution or accounting firm.
  • Sound understanding of the COSO framework, Section 36 of FDICIA, SOX and the Institute of Internal Auditors standards.
  • Required certifications: Certified Internal Auditor (CIA), Certification in Risk Management Assurance (CRMA), Certified Public Accountant (CPA), Certification in Control Self-Assessment (CCSA), Certified Financial Services Auditor (CFSA), Certified Information Systems Auditor (CISA), or similar audit-related certification.
  • Overnight travel required 20-30% of the year (approximately 50 nights).
  • You must live in, or relocate to, the 8th District and work out of our Little Rock, AR, Memphis, TN, or St. Louis, MO, offices. Relocation incentives are available.
  • Hybrid schedule – Must work in the office 3 days per week, when you’re not traveling.
  • Not eligible for remote status.
  • Candidates with less experience, including the absence of certifications, will be considered at a lower job grade or salary.

Total Rewards

Bring your passion and expertise, and we'll provide the opportunities that will challenge you and propel your growth—along with a wide range of benefits and perks that support your health, wealth, and life.

Salary: 95,000 – 150,000

In addition to competitive compensation, we offer a comprehensive benefits package all brought together in a flexible work environment where you can truly find balance:

  • Generous paid time off
  • Hybrid on-site work arrangements
  • Tuition & Training assistance/reimbursement
  • 401(k) match
  • Pension plan
  • Top-notch health care benefits
  • Child and family care leave
  • Professional development opportunities
  • And more...

At the Federal Reserve Bank of St. Louis, we believe the Federal Reserve most effectively serves the American public by building a more diverse and inclusive economy. Our commitment to diversity and inclusion, at all levels of the organization, has been one of our core values for many years and remains strong as we continue enhancing our efforts. Learn more about Bank’s culture and life as a part of the Safety and Soundness Exam Team.

The Federal Reserve Bank of St Louis is an Equal Opportunity Employer.

This position requires access to confidential supervisory information (CSI) and/or Federal Open Market Committee (FOMC) information. Access to CSI and FOMC information is limited to U.S. citizens, lawful permanent residents, individuals who meet the definition of “protected individual” under 8 U.S.C. § 1324b(a)(3), and certain other nonimmigrants. All non-U.S. citizens authorized to access CSI and/or FOMC information must sign a declaration of intent to expeditiously become a U.S. citizen when eligible.

All employees who require access to CSI and/or FOMC information are subject to periodic background investigations and must comply with all applicable information handling policies.

Full Time / Part Time

Full time

Regular / Temporary


Job Exempt (Yes / No)


Job Category

Credit Risk Management

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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