718-ERM Analyst (Level 2)

Job ID: 718

Position Title: 718-ERM Analyst (Level 2)

Working Location: Chicago, IL

Employment Status: Full-Time

Required Experience: 3 years

Required Education: Bachelors Degree

Travel Required: 0%

Job Description
The Federal Reserve Bank of Chicago is one of 12 regional Reserve Banks across the United States that, together with the Board of Governors in Washington, D.C., serves as the central bank for the United States. Since its inception in 1913, the Federal Reserve System has the responsibility for fostering a sound U.S. banking system and a healthy economy.
The Chicago Fed, serving the 7th Federal Reserve District is responsible for:
Helping to formulate national monetary policy.
Providing financial services such as check clearing and electronic payment processing.
Supervising and regulating state-chartered banks that are members of the Federal Reserve System, bank holding companies, and financial holding companies.
If you are looking for a challenging and interesting career with a solid foundation in the financial services industry, in the heart of Chicago?s financial district, the Federal Reserve Bank of Chicago is the place for you.



The ERM Analyst provides analytical support in the design and execution of the Enterprise Risk Management (ERM) initiative's objectives, communication plans and components. The ERM analyst serves as an integral member of the ERM team, helping transform ERM objectives and goals into an ongoing aspect of the Bank?s risk management, processes, culture and way of doing business. The ERM analyst gathers both qualitative and quantitative risk-related data, designs management reports and analyzes data to identify trends and issues. Examples of this data include the results of the annual Control Environment Survey, key risk indicators used to track the Bank?s most significant risks, and management-identified control deficiencies. The ERM analyst performs tasks such as coordinating the District?s management-identified control deficiency process. This role requires the analyst to work closely with business lines to identify and analyze their deficiencies. As a member of the ERM team, the analyst frequently interacts with officers and staff of major business functions to facilitate discussions of risks and mitigating actions. The analyst assists with preparation of discussion outlines and presentation materials for the Risk Policy Committee or Management Committee. The analyst also plays a role in maintaining the technology solution (database) used to aggregate risk information across the District. The level of work is considered intermediate and staff must work under general supervision. This position has no direct reports



Job Duties ? Essential Job Duties
Supports the development and implementation of ERM framework, Sarbanes-Oxley (404) compliance, and related processes by providing analytical and technological (primarily Excel) support
Coordinates the District?s management-identified issue process. This includes coordinating the collection, analysis and reporting of this information.
Coordinates the monthly collection, analysis and reporting process of key risk indicators.
Co-manages the District?s annual Control Environment Survey process, providing analytical and technical support to the District?s project lead.
Maintain the technology solution (database) used to aggregate risk information across the District (the database includes risk descriptions, action plans, risk ratings, risk owners, etc)
Assists with planning and conducting risk assessment sessions with business/functional areas
Seeks creative solutions in the implementation of each assigned project and identifies improvement opportunities as the ERM program is developed
Assists in developing and communicating ERM training and education initiatives including: developing and presenting risk management training tools, technology solutions, presentations, and other ERM educational materials
Maintains familiarity with credit, operational, strategic, reputational, and market risks; understands basic methods and processes for managing and mitigating these risks
Maintains a good understanding of the major businesses and functions of the Federal Reserve, both within the District and across the System
Maintains a working knowledge of ERM industry practices
Performs other duties as requested



Essential Skills
Job Requirements:
Bachelor's degree in Accounting, Finance or related business field or equivalent experience
2 to 5 years of analyst or other similar experience
Demonstrated ability to analyze both financial and non-financial data; background in Audit, Compliance, or relevant Supervision and Regulation experience a plus
Demonstrated strong project management skills and attention to detail
Ability to perform independent work
Solid written and verbal communication skills
Ability to build and maintain relationships to influence stakeholders
Proficiency with MS Word Excel and PowerPoint
General understanding of control risk assessment and risk management processes preferred, Sarbanes-Oxley and ERM knowledge a plus
Demonstrated capability to work professionally with a variety of senior level personnel and handle sensitive information with the highest degree of integrity



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