Company

Federal Reserve Bank of Cleveland

The Federal Reserve Bank of Cleveland is part of the nation’s central bank and we’ve provided many opportunities for professional growth during our history.

For twenty-five 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.

Our People Make the Difference! The Federal Reserve Bank of Cleveland is seeking innovative thinkers with vision to build the framework that will carry the Bank into the future.

Follow us on LinkedIn, X, Instagram, and our YouTube channel – Cleveland Fed

This role is based in Cleveland, Ohio, and is a hybrid work arrangement - individuals may be required to work some days in the Federal Reserve Bank of Cleveland while working the other days from home.

Do you have COSO, SOX, or compliance-based experience to bring to the Cleveland Fed? Are you skilled in building collaborative relationships? Are you an effective communicator that leads with integrity? Are you excited about playing a role in ensuring that the Bank’s internal controls over financial reporting are sufficient to mitigate financial statement risks?

The Federal Reserve Bank of Cleveland is seeking a highly motivated, dynamic, and qualified candidate for this role. Here you’ll bring your professional experience, talent, and drive to support an organization grounded in commitment to public service dedicated to ensure a stable economy for all.

Organizational Expectations :

As a member of the COSO team within Financial Management, you will provide guidance to Bank management related to ICFR/COSO requirements and governance for the Fourth District. You will support efforts to ensure that effective processes of internal controls and financial reporting are in place.

General Responsibilities :

• Assists and helps to lead facilitating the annual control assertion process for functional areas, including overseeing control testing, participating in testing, and advising management of discrepancies.

• Coordinates and supports Control Owners, including participating in walk throughs, to ensure that internal controls over financial reporting are effectively identified, designed, executed, and documented; and are sufficient to mitigate financial statement risks.

• Performs scoping of internal controls for financial reporting, which includes periodic risk assessment, materiality assessment, and identification of significant accounts, processes and controls.

• Collaborates and assists process owners to develop process flows and/or narratives to identify risks and map process controls.

• Performs individual and aggregate control deficiency analysis; coordinates and participates in the preparation of the Summary of Aggregated Deficiency Report. Recommend appropriate remediation plan, and track remediation status.

• Monitors major changes in business, process and systems and collaborates to ensure timely updating of controls documentation to mitigate the risks.

• Evaluates and reviews third-party deficiencies reported by internal and external service providers for impact to the Bank

• Applies accounting knowledge and experience to identify improper accounting, documentation and opportunities to improve the efficiency and effectiveness of business processes and control activities.

• Participates in developing training resources for stakeholders including delivery of sessions to business lines.

• Maintains key documentation related to control assertion program.

• Develops meeting materials, including presentations, for the Bank's senior management, Board of Directors and Audit Committee.

• Provides support in coordinating the annual external audit by providing relevant ICFR/COSO information. Collaborates with external auditor and functional areas to ensure information requests are properly fulfilled.

• Participates in department, Bank and/or FR System projects.

• Uses technical skills to enhance ICFR/COSO program and support the enhancement and development of related applications.

• Leads/completes ad-hoc projects and/or assignments.

• May develop and deliver training resources for stakeholders, including delivery of sessions to business lines.

• Performs other duties as assigned or requested.

Education and Experience :

Internal Controls Analyst:

• Bachelor's Degree in Accounting, Finance, Business, Management Information Systems, or related field with 3+ years of related experience,

• Experience in accounting, audit, risk management desired

• CPA, CIA or CISA in process is a plus

Internal Controls Senior Analyst:

• Bachelor's Degree in Accounting, Finance, Business, Management Information Systems, or related field with 5+ years of related experience,

• Experience in accounting, audit, risk management desired

• CPA, CIA or CISA in process is a plus

Knowledge and Skills :

• Knowledge of compliance and control related disciplines and practices.

• Knowledge of GRC or related risk management application functionality

• Knowledge of accounting and financial reporting

• Knowledge of project management

• Knowledge of Microsoft Office Suite

• Knowledge in problem solving and analytical skills

• Attention to detail

• Ability to articulate written and verbal communications to a variety of stakeholders within an organization

• Strategic thinking and planning skills.

• Self-awareness/high emotional intelligence

• Accountability

• Knowledge and ability to lead others and manage multiple and time sensitive activities.

• Ability to effectively lead facilitated discussions

Physical Demands and General Working Conditions

This is not necessarily an exhaustive list of all responsibilities, duties, performance 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.

Traditional office environment: Employees typically sit most of the day, work with a computer and may answer/respond to phone calls. Physical movement consists of walking for meetings, breaks, etc. Ability to lift items weighing approximately 20 pounds on a limited basis is required. Addendum as needed: Employees may be required to travel by car/air.

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.

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

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.

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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