Financial Regulatory Reporting Analyst at Federal Reserve Bank (FRB) in Charlotte, North Carolina

Job Description:

Company

Federal Reserve Bank of Richmond

When you join the Federal Reserve—the nation's central bank—you’ll play a key role, collaborating with a dynamic and diverse team of mission-driven professionals to strengthen and protect our economy and our communities.

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. In addition to competitive compensation, we offer a comprehensive benefits package that includes tuition assistance, generous paid time off, top-notch health care benefits, child and family care leave, professional development opportunities, a 401(k) match, pension, and more. All brought together in a flexible work environment where you can truly find balance.

About the Opportunity

The Supervision, Regulation and Credit department has immediate openings for entry level analysts in their Statistics Credit and Reserves (SCR) division.  SCR collects financial and structure data, performs quality assurance activities to ensure information is fit for its intended use and provides other services to support the interpretation of information used by decision-makers. There is also an operational data processing component, which requires organizational skills, technical proficiency and excellent time management.  The Financial Regulatory Reporting Analysts will be assigned to the Reserves Team.

As a Reserves team member, you will monitor and analyze Reserves data flows and ensure that Fifth District depository institutions comply with Regulation D. You will use standard methodology and automated tools to perform advanced analysis on financial data with the opportunity to explore and recommend new analytical methodologies. Additionally, you will process mergers and monitor Interest on Reserves payments. And you will assist in training of external stakeholders, including assisting in the preparation and delivery of training materials.

What You Will Do:

• Analyzes data and regulatory reports using standard and proprietary applications and software; evaluates information and research regulations and reporting requirements




• Works with financial institutions to investigate and resolve or explain unusual, reported information and prepares written explanation of findings




• Responds to inquiries related to regulations, policies, programs, or applications




• Identifies and resolves potential regulatory reporting and operational issues in collaboration with internal/external stakeholders




• Demonstrates intellectual curiosity and utilizes a variety of advanced techniques to research/conduct analysis; explores new and innovative approaches to advanced analysis




• Stays abreast of current events in the banking and financial industry that could affect the institutions and their reporting or Federal Reserve account management decisions




• May participate in cross-functional linked teams to address financial, regulatory or systems issues

Qualifications:

• 0–3 (3-5+ intermediate) years of related experience; prior experience and knowledge related to regulatory analysis is strongly preferred.




• Bachelor`s Degree required, with preferred concentration in Economics, Business, Accounting or related field. 




• Experience in the banking or financial industry (preferred)

Preferred Knowledge/Skills:

• Proficiency in Microsoft Word, Access, Excel and PowerPoint




• Strong organizational and time management skills with proven ability to consistently meet deadlines and respond to internal/external requests for information.




• Demonstrated problem solving and attention to detail abilities. 




• Strong written, oral communication skills; effective training and presentation skills (preferred). 




• Proven interpersonal skills along with demonstrated ability to work well with others in a team environment.

Other Requirements and Considerations:

• Candidates should review the Bank’s Employee Code of Conduct to ensure compliance with conflict of interest rules and personal investment restrictions.




• If you need assistance or an accommodation due to a disability, please notify rich.recruitment@rich.frb.org.




• Employees who work at and/or visit another Federal Reserve entity or outside business as part of their job duties are required to comply with any onsite safety and health protocols of those organizations (including, but not limited to, requirements to vaccinate or test, mask, social distance, etc.).




• 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 an enhanced background check 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.




• Under Conflict of Interest guidelines administered by the Board of Governors of the Federal Reserve System, examining personnel may not participate on an examination of a financial institution or affiliate if the examiner was employed by the financial institution or affiliate within the past 12 months.



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  Please review Bank’s Employee Code of Conduct to ensure there are no major issues related to your previous employment and current financial interests (relevant sections are 5.3 and Appendix B, Parts I, II and III). FRB ethics rules generally prohibit employees and their immediate families from owning investments in banks, savings associations, or their holding companies (Section 5.3). Additionally, employees engaged in Supervision and Regulation may be subject to borrowing and deposit restrictions. These employees may need to recuse themselves from certain supervisory work based on:

  
  
  
  

  • Their borrowing relationships (Appendix B Parts I.1, II.1 and II.2)

  
  

  • If a financial institution employs a member of the employee’s immediate family (i.e. spouse, child, parent, or sibling) (Appendix B Part I.3 and Part II.3)

  
  

  • If the individual was employed by the financial institution or affiliate within the past 12 months (Appendix B Part I.3 and II.3).

  
  

  • In certain cases, the recusal may be so extensive it could materially reduce the effectiveness of the prospective employee’s job responsibilities.

  
  
  
  



• The hiring range for the Financial Reporting Analyst Associate is $52,900 - $66,100, annually




• The hiring range for the Financial Reporting Analyst Intermediate is $65,800 - $82,200, annually




• Salary offered will be based on the job responsibilities and the individual’s knowledge, skills, and experience as defined in the job qualifications.




• Interested candidates are encouraged to apply by Friday March 22nd, 2024. Applications will be reviewed on a rolling basis.

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

Yes

Job Category

Accounting/Finance

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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