Chief Financial Officer Chief Financial Officer …

Federal Reserve Bank of Boston
in Boston, MA, United States
Permanent, Full time
Be the first to apply
Federal Reserve Bank of Boston
in Boston, MA, United States
Permanent, Full time
Be the first to apply
Chief Financial Officer
Vice President & Chief Financial Officer (CFO)


Vice President - Chief Financial Officer (CFO)

Federal Reserve Bank of Boston:

The Federal Reserve Bank of Boston is one of twelve Reserve Banks that, along with the Board of Governors in Washington, DC, constitute the nation's central bank. It is part of the Federal Reserve System, which was established by Congress in 1913 to provide the nation with a safer, more flexible and more stable monetary and fiscal system that seeks to promote price stability and maximum sustainable economic growth.

As part of the nation's central bank, the Federal Reserve Bank of Boston promotes sound growth and financial stability in New England and the nation. The Bank contributes to local communities, the region, and the nation through its high-quality research, regulatory oversight, and financial services, and through its commitment to leadership and innovation. The Federal Reserve Bank of Boston, the First District of the Federal Reserve System, serves the New England region - Connecticut [except Fairfield County], Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont.

The Bank has a prominent role in a number of additional System missions. For example, its Regional & Community Outreach group is renowned for innovative programs focusing on the needs of low-income communities. The Financial Support Office serves as the Federal Reserve Systems national finance, or System CFO function and provides a comprehensive spectrum of financial management services to the Federal Reserve System. The Network Security Services team is responsible for System-wide, cutting-edge security solutions.

Job Summary:

The Federal Reserve Bank of Boston CFO will be responsible for all Boston financial activities,  including the Accounting, Procurement, Financial Planning and Analysis, and Internal Controls over financial reporting functional areas. This leadership role will lead financial and strategic efforts throughout the Federal Reserve System as a key member of the system-wide Finance Committee.

Principal Accountabilities:

 Maintains direct accountability to the President, First Vice President, Executive Vice President of the Financial Support Office, Board of Governors, and Board of Directors (including the Audit Committee and the Business Commitments and Performance Committee) for the accuracy and integrity of the Banks financial information.

 Manages all disciplines and advances multi-year financial planning efforts throughout the Bank and the Federal Reserve System, often times leveraging resources outside of their reporting structure

 Directs the preparation of the Banks budgets, plans and forecasts; ensuring the alignment of financial resources with the Banks most critical strategic priorities.

 Asserts to the fair presentation of the Banks financial statements and the effectiveness of internal controls over financial reporting to the Banks external auditors, senior management and the Board of Directors.

 Presents budgets, plans and financial results to Senior Management, the Board of Governors and the Board of Directors.

 Oversees and directs the activities of the Financial Management Division (Accounting Department and the Financial Planning and Analysis Department) through direct supervision of Assistant Vice Presidents, Directors, Managers and other supervisory personnel within those areas.

 Serves on the Banks Management Council to oversee and provide input on a variety of Bank-wide matters.

 Represents the Bank on Financial Support Office (Advisory Group on Financial Management), National Procurement Office (Senior Procurement Officers) and leads other System workgroups and committees.

 Administers, evaluates and establishes Bank and Divisional policies, practices and procedures.  Provides direction and ensures Bankwide compliance with pertinent System and Bank financial management, procurement, delegation of authority, and discretionary expenditure policies.

 Leads the development and implementation of short- and long-term strategic goals and objectives for functional areas.

 Leads the budgeting and business planning processes, and ensures the allocation of adequate resources to accomplish the short- and long-term goals and objectives of the Financial Management Division.

 Oversees and directs the administration of personnel related matters including performance management, salary administration, and professional development.

 Creates an environment that rewards and recognizes individuals for creative and innovative ideas, and appropriate risk taking that positively impacts functional performance.

Other Accountabilities:

Perform other duties as assigned.


This position requires direct, inline people management of Accounting, Procurement, and Financial Planning & Analysis functions. The successful candidate will have a proven history in attracting, motivating, and retaining employees at all levels. This role may be required to oversee system-level initiatives which require oversight of indirect peers and employees.

Knowledge and Experience:

Knowledge and experience normally acquired through, or equivalent to, the completion of a Bachelors degree and a minimum of 11-13 years of job related, including at least 6-8 years of high-level leadership experience. 
 A Masters Degree is desirable;  CPA certification is preferred
 Leadership - the ideal candidate must be able to lead multiple, complex efforts that advance overall financial management efforts
 Influence must be adept at leading multiple efforts that involve multiple customers and peers; leverages influence to lead without authority
 Thought leadership ability to innovate on progressive financial management practices
 Expertise expertise and thought leadership of external and internal financial and cost accounting standards, rules and regulations is required.  Preferred experience in the financial planning and accounting performed in banking operations.
 Tactical skills exemplary  analytical, problem solving, and project management skills required
 Communications this leader will be an excellent communicator comfortable addressing high-level executive audiences
 Workday experience preferred

The Federal Reserve Bank of Boston is committed to a diverse and inclusive workplace and to provide equal employment opportunities to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, or military service.

All employees assigned to this position will be subject to FBI fingerprint/ criminal background and Patriot Act/ Office of Foreign Assets Control (OFAC) watch list checks at least once every five years.

The above statements are intended to describe the general nature, level of work and the requirements of this position. They are not intended to be an exhaustive list of all duties and responsibilities associated with this position or the personnel so classified. While this job description is intended to be an accurate reflection of this position, management reserves the right to revise this or any job description at its discretion at any time.

Primary Location: MA-Boston
Work Locations:
Organization: Federal Reserve Bank of Boston
Schedule: Full-time
Job Type: Experienced
Shift: Day Job
Travel: Yes, 10 % of the Time