Risk Management Lead - ERM

CompanyFederal Reserve Bank of Cleveland

The Federal Reserve Bank of Cleveland’s mission is to foster the stability, integrity, and efficiency of the nation’s monetary, financial, and payment systems while representing the Fourth District perspectives.
As part of the nation’s central bank, we are a team of mission-driven professionals who are committed to serving with excellence. Our core values are: Build Trust Every Day, Own Our Actions, Collaborate with Intention, and Be Open to Change.
For twenty-seven years in a row, 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.
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Responsible for providing high level support and leadership for the planning and execution of the Bank's Enterprise Risk Management (ERM) program. Contributes to supporting the Federal Reserve Bank of Cleveland and Federal Reserve System (FRS) ERM efforts, including participation on local and System-wide projects and initiatives.

Essential Accountabilities:

• With a thorough understanding of Federal Reserve System structure, identify and assess significant risks, mitigation strategies and their impact on both local and Federal Reserve System activities.
• Works with stakeholders across the organization and the FRS to adopt sound, objective-based risk management practices and effective methods for identifying, monitoring and reporting of risks. Works to incorporate System standards into the local ERM program.
• Makes independent judgments, often based on interpretation of System and/or local policy or knowledge of various risk disciplines (operational, strategic, reputational). Ensures rationale is documented and management is apprised.
• Responsible for providing high level support and leadership for the planning, implementation and administration of the Bank's ERM program.
• Reports on the current assessed level of risk and document recommendations on managing risks. Contributes to risk reporting initiatives such as process improvement and technology efforts to enhance efficiency and accuracy of reporting.
• Builds strong relationships across the Bank by providing guidance, support and assistance to Bank business and first line areas to aid in their management of operational and compliance matters.
• Assist with the validation of control effectiveness by aiding in the implementation of control programs and viewing control testing performed by business or testing of control design and operation.
• Helps cultivate a culture of risk intelligence, heightened risk awareness and the utilization of advanced methods to assess, monitor, and manage risk.
• Prepares, presents, and interprets briefings, presentations, or other communications to key internal decision-makers on risk management matters of interest.
• Develops educational resources for the sole purpose of educating stakeholders on the components of the enterprise risk management framework.
• Independently seeks answers from available risk resources (written, data, etc.) and identifies appropriate staff resources for learning.
• Possesses ability to handle ambiguous requests for information.
• Performs other duties as assigned or requested.
• Adheres to the Bank's attendance policies through regular and prompt attendance.

Education and Experience

• Bachelor's Degree in Business, Finance, and/or Accounting and 7+ years of related experience

Knowledge Areas - Advanced Level

• Knowledge of Operational, Strategic, Reputation risk related disciplines and practices.
• Knowledge of GRC or related risk management application functionality
• Knowledge of project management
• Knowledge of Microsoft Office Suite

Skill Areas - Advanced Level

• Knowledge in problem solving and analytical skills
• Knowledge and ability to lead others and manage multiple and time sensitive activities
• Ability to effectively lead facilitated discussions
• Ability to articulate written and verbal communications to a variety of stakeholders within an organization
• Strategic thinking and planning skills

The expected starting salary range for the Risk Management Lead is between ​$111,400 and $139,200 annually. Final salary and offer will be determined by the applicant’s background, experience, skills, internal equity, and market data.

The Cleveland Fed offers benefits to support overall health and financial security. Learn more about our benefits here: https://www.clevelandfed.org/careers

Physical Demands and General Working Conditions            

This is not necessarily an exhaustive list of all responsibilities, duties, standards or requirements, efforts, skills or working conditions associated with the job. While this is intended to be an accurate reflection of the current job, the Federal Reserve Bank of Cleveland reserves the right to revise this or any job description at any time. 

Reasonable Accommodation Statement - The Federal Reserve Bank of Cleveland is committed to ensuring that individuals with disabilities are provided with reasonable accommodation to participate in the job application or interview process, perform essential job functions, and receive other benefits and privileges of employment. To request a reasonable accommodation for any part of the employment process, please send an email to [email protected].

Bank’s Ethics Rules and Drug Testing:

As a condition of employment, Federal Reserve Bank of Cleveland employees must comply with the Bank’s ethics rules which generally prohibit employees, their spouses/domestic partners, and minor children from owning or controlling, directly or indirectly, any debt or equity interest in a depository institution or an affiliate of a depository institution. A "depository institution" means a bank, a trust company, or any institution that accepts deposits, including a bank chartered under the laws of a foreign country. In addition, employees (and their spouses/domestic partners, and minor children) may not own shares of mutual funds, unit investment trusts or ETFs that have a policy, as stated in the prospectus, of concentrating in the financial services industry and that have underlying investments in banks or other depository institutions.  If you or your spouse/domestic partner or minor child own such securities and would not be willing or able to divest them if you accepted an offer of Bank employment, you should raise this issue with the recruiter for this posting.

In addition, as a condition of employment, candidates must undergo a background check and will be tested for all controlled substances prohibited by federal law, to include marijuana, prior to hire and for certain safety sensitive positions during employment.  

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Always verify and apply to jobs on Federal Reserve System Careers or through verified Federal Reserve Bank social media channels

Full Time / Part TimeFull time

Regular / TemporaryRegular

Job Exempt (Yes / No)Yes

Job CategoryInternal Oversight & Governance Family Group

Work ShiftFirst (United States of America)

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.

Always verify and apply to jobs on Federal Reserve System Careers (https://rb.wd5.myworkdayjobs.com/FRS) or through verified Federal Reserve Bank social media channels.

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