Risk Management Lead - ERM

Federal Reserve System • Cleveland, OH

5d • $111,400 - $139,200

About The Position

The Risk Management Lead provides high-level support and leadership for planning, implementing, and administering the Federal Reserve Bank of Cleveland’s Enterprise Risk Management (ERM) program. The role contributes to local and Federal Reserve System ERM efforts, including participation in local and System-wide projects and initiatives. It identifies and assesses significant risks, mitigation strategies, and potential effects on Bank and System activities, and supports adoption of sound risk management practices and System standards across the organization.

The role independently evaluates risk matters, documents rationales and recommendations, reports assessed risk levels, and supports improvements to risk reporting processes and technology. It builds relationships with Bank stakeholders and first-line business areas, assists with control validation, and helps promote risk awareness and a culture of risk intelligence. The position also prepares and presents risk communications to internal decision-makers and develops educational resources to explain the ERM framework.

The position requires a bachelor’s degree in Business, Finance, and/or Accounting and at least seven years of related experience. The role is full-time, regular, exempt, and assigned to the first shift. The expected starting salary range is $111,400–$139,200 annually; the final offer depends on the applicant’s background, experience, skills, internal equity, and market data. Candidates must undergo a background check and drug testing as a condition of employment, and employees must comply with the Bank’s ethics rules.

Requirements

• Bachelor’s degree in Business, Finance, and/or Accounting.
• At least 7 years of related experience.
• Advanced knowledge of operational, strategic, and reputational risk disciplines and practices.
• Advanced knowledge of GRC or related risk management application functionality.
• Advanced knowledge of project management.
• Advanced knowledge of Microsoft Office Suite.
• Problem-solving and analytical skills.
• Ability to lead others and manage multiple time-sensitive activities.
• Ability to lead facilitated discussions effectively.
• Ability to communicate clearly in writing and verbally with a variety of organizational stakeholders.
• Strategic thinking and planning skills.
• Compliance with the Bank’s ethics rules as a condition of employment.
• Successful completion of a background check and testing for controlled substances prohibited by federal law as a condition of employment.

Responsibilities

• Identify and assess significant risks, mitigation strategies, and their impact on local Bank and Federal Reserve System activities.
• Work with stakeholders across the Bank and Federal Reserve System to adopt objective-based risk management practices and effective methods for identifying, monitoring, and reporting risks.
• Incorporate Federal Reserve System standards into the local ERM program.
• Make independent judgments based on applicable policies and knowledge of risk disciplines; document the rationale and keep management informed.
• Provide high-level support and leadership for planning, implementing, and administering the Bank’s ERM program.
• Report assessed risk levels and document recommendations for managing risks.
• Contribute to risk reporting initiatives, including process improvement and technology efforts intended to improve reporting efficiency and accuracy.
• Provide guidance, support, and assistance to Bank business and first-line areas on operational and compliance matters.
• Assist with validating control effectiveness through control program implementation and review of business control testing or testing of control design and operation.
• Promote risk intelligence, risk awareness, and advanced methods for assessing, monitoring, and managing risk.
• Prepare, present, and interpret briefings, presentations, and other risk management communications for internal decision-makers.
• Develop educational resources to explain components of the enterprise risk management framework.
• Seek information from available risk resources and identify appropriate staff resources for learning.
• Handle ambiguous requests for information.
• Perform other duties as assigned or requested.
• Adhere to Bank attendance policies through regular and prompt attendance.

Benefits

• The employer states it offers benefits to support overall health and financial security; specific benefits are not detailed in the posting.
• Expected starting salary range of $111,400–$139,200 annually.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior