Business Operations Analyst - Quality Assurance at Federal Reserve Bank (FRB) in Chicago, Illinois

Posted in General Business 6 days ago.

Type: Full-Time

Job Description:


Federal Reserve Bank of Chicago

Supervision and Regulation (S&R) plays a critical role in The Federal Reserve Bank of Chicago's core mission, supervising regulating state-chartered banks that are members of the Federal Reserve System, bank holding companies, financial holding companies and savings and loan holding companies. Our duty is to foster the stability, integrity and efficiency of the nation's monetary, financial and payment systems to promote optimal economic performance.

The Business Operations Analyst participates in and may manage projects related to quality management topics. Analyst will share responsibility for assuring compliance with the Quality Management Framework across the Department, which includes Quality Planning, Assurance, Control and Improvement components. Will assist in the assessment of Department and business line risks, key controls and procedures. Will lead/assist in moderately complex to complex reviews to assess the quality of supervisory work products and their compliance with Board Guidance in support of the QA Annual Plan. May also assist in System-wide initiatives such as horizontal reviews, common work program design or other QA Community of Practice projects. The individual analyzes relevant facts, derives sound analysis, conducts thorough and accurate work, and prepares and presents conclusions both written and orally to department staff and management. Familiarity with banking supervision and/or internal audit a plus.

The level of work required is considered intermediate and staff must be able to work under general supervision. This position has no direct reports.

Your Responsibilities:

  • Participate and leads projects and quality assurance reviews of moderate complexity; develops project plans, timelines and milestones for moderately complex to complex projects and reviews

  • Creates and provides focused and value-added analysis, reports, documents and other correspondence to internal and external stakeholders

  • Builds relationships within the team, department and division; develops relationships with internal and external stakeholders such as other Reserve Banks

  • Gathers and organizes information, derives sound analysis, conducts thorough and accurate work, supports findings and conclusions, makes recommendations, and follows-up, as appropriate

  • Prepare and presents both orally and in written form, conclusions and recommendations concerning moderately complex to complex matters to internal and external stakeholders

  • Participate in control activities and process improvement initiatives

  • Creates, maintains, collects and distributes key materials such as project plans, tracking spreadsheets, metrics and/or documentation

Your Background:

  • Bachelor's degree or equivalent experience

  • Three plus years of direct work-related experience

  • Possesses the ability to understand risk focused supervision and processes

  • Demonstrates intermediate to advanced analytical, project management and problem-solving skills

  • Demonstrates independent and critical thinking and decision-making abilities

  • Solid written and oral communication abilities

  • Possesses the ability to provide guidance and constructive feedback to less experienced staff, peers and leaders.

  • Possesses strong teamwork skills and the ability to build and work collaboratively within and across work teams

  • Demonstrates the ability to manage time and projects effectively by adjusting quickly to new and different priorities

  • Possesses a solid proficiency in M365 products

  • Possesses general business acumen

What we Offer:

  • A mission based and service minded organization of intelligent, hard-working and compassionate individuals.

  • Comprehensive benefits package, including medical, dental, vision, prescription drug coverage, 401k savings plan, retirement plan, paid time off and transit benefit.

  • A continuous learning environment with opportunities to gain new skills and grow your career.

  • Onsite gym and subsidized cafeteria

Location: This position is a Hybrid role across the – 7th District (Chicago, IL Des Moines, IA & Detroit, MI)

Other Requirements:

  • All Federal Reserve Bank of Chicago employees must be fully vaccinated against COVID-19, and receive a booster shot within 30 days of being eligible to do so, unless the Bank grants an accommodation based on medical condition or sincerely held religious belief.

  • This position requires access to confidential supervisory information and/or FOMC information, which is limited to "Protected Individuals" as defined in the U.S. federal immigration law. Protected Individuals include, but are not limited to, U.S. citizens, U.S. nationals, and U.S. permanent residents who either are not yet eligible to apply for naturalization or who have applied for naturalization within the requisite timeframe. Candidates who are not U.S. citizens or U.S. permanent residents may be eligible for the information access required for this position and sponsorship for a work visa, and subsequently for permanent residence, if they sign a declaration of intent to become a U.S. citizen and meet other eligibility requirements. In addition, all candidates must undergo applicable background checks and comply with all applicable information handling rules, and all non-U.S. citizens must sign a declaration of intent to become a U.S. Citizen and pursue a path to citizenship.

  • As a condition of employment, Federal Reserve Bank of Chicago employees must comply with the Bank’s ethics rules, which generally prohibit employees, their spouses/domestic partners, and minor children from owning securities, such as stock, of banks or savings associations or their affiliates, such as bank holding companies and savings and loan holding companies. 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, who can provide you contact information for our ethics official if necessary

We are committed to equal employment opportunity regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, marital status, disability, gender, gender identity or expression, or veteran status

Full Time / Part Time

Full time

Regular / Temporary


Job Exempt (Yes / No)


Job Category

Bank Examination

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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