Compliance Associate, Financial Services Group at Federal Reserve Bank (FRB) in New York City, New York

Job Description:

Working at the Federal Reserve Bank of New York 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.

What we do:

You will be a member of the Reserve Bank Accounts and Services ("RBAS") team in the Financial Services Group. This team establishes and manages the practices and policies related to the provision of master accounts and Federal Reserve Financial Services (FRFS) for all Second District financial institutions. You will have an opportunity to help strengthen the program to support efficient provisioning of FRFS. The selected applicant will interact with multiple areas of the New York Fed and work in an important and high-visibility area. This work includes execution of a variety of analytical tasks, supporting business projects and initiatives to develop and formalize policies and supporting external customer related activities.

The selected candidate can have either New York or East Rutherford, NJ as the primary location but must be able to travel to other location for meetings and/or training as needed (when the work from home mandate is lifted and it is safe to travel between locations)

Your role as a Compliance Associate:

• Support development of processes, procedures and implementation of policies as they relate to first line compliance initiatives. Additionally, prepare responses to customers or external inquiries;
  
  


• Conduct and present on various analyses and research ensuring that related policies are effective
  
  


• Perform routine monitoring of financial institutions' use of Federal Reserve Financial Services and assessment of activities including those subject to the Bank's High Risk Customer Policy and the Federal Reserve Bank of New York Account and Financial Services Handbook;
  
  


• Coordinate projects, work streams aimed at formalizing and improving the processes associated with first line risk management;
  
  


• Participate on cross-bank work teams and ad-hoc work teams representing the interests of the Bank and FSG from an RBAS perspective;
  
  


• Leverage automated and manual tools for data sources to enhance the analysis and support of compliance reviews, including for transaction reviews and reporting;
  
  


• Perform activities to support anti-money laundering monitoring and customer compliance aspects.