Vice President & FedNow System Audit Leader
This position reports to and assists the General Auditor in directing internal audit activities related to FedNow , oversees risk assessment activities and audit coverage, delivers assurance and timely risk based insights to management, and provides administrative oversight for the FedNow audit team.
Designs, resourced, and leads the execution of the various FedNow internal audit activities.
Develops and clearly communicates the FedNow audit functions goals and objectives. Determines key targets and milestones and documents metrics and progress.
Encourages and rewards strong performance, innovative ideas, and appropriate risk taking to influence the effectiveness and efficiency of FedNow audit operations.
Develops and executes the FedNow program audit, and establishes methodologies, programs, and tools to support ongoing, post-implementation audit attention for FedNow in the steady state environment.
Ensures that audit work is conducted in accordance with the Institute of Internal Auditors (IIA) International Standards for the Professional Practice of Internal Auditing, and that auditors comply with IIAs Code of Ethics.
Develops an annual FedNow audit budget that is sufficient to carry out an effective audit program. Ensures sufficient staffing levels with the requisite knowledge, skills, and experience to execute an effective audit program.
Oversees the development of FedNow presentations and reports to the Audit Committee of the Board of Directors, and makes periodic presentations to the Audit Committee.
Manages internal and external relationships. Communicates and facilitates coordination with FedNow clients, the Board of Governors Division of Reserve Bank Operations and Payment Services, the Conference of General Auditors, the System Audit Community, and other assurance providers.
Coordinate Real-Time Gross Settlement audit coverage across the System for System entities/business lines that have interdependencies with the FedNow service.
Leads and serves as a member of System level workgroups for the Conference of General Auditors.
Performs other activities as assigned by the General Auditor or the Audit Committee
Supervises dedicated FedNow audit team, activities, and employee administrative matters.
Location and Travel:
Capability to work remotely, including locations outside of the Boston area
Travel to Boston or other Federal Reserve System locations would be anticipated to be approximately once per month (approximately 20% travel required annually)
Knowledge and Experience:
Knowledge and experience normally acquired through, or equivalent to, the completion of a Bachelors degree and a minimum of 12 years of job related experience, including at least 7 years of supervisory/ management experience. Certification as a Certified Public Accountant, Certified Internal Auditor, Certified Information Systems Auditor, Project Management Professional, Certified Cloud Security Professional, or other relevant professional certification is required. A Masters degree is preferred.
Key knowledge and competencies include the following:
Risk management and compliance
Business process and control design assessment
Coordination and navigation within the Federal Reserve System governance structure
Critical thinking and judgement
Embracing change and innovation
Communicating with influence
Ability to deal with volatility, uncertainty, complexity, and ambiguity; and operate in high pressure situations
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 a credit check, an FBI fingerprint/criminal background check, and Patriot Act / Office of Foreign Assets Control (OFAC) watch list checks at least once every five years. Internal candidates who accept a job offer for this position will also be subject to credit re-screening before transferring.
All candidates must be U.S. citizens or lawful permanent resident aliens with at least three or more years of U.S. residency from the date of legal entry to the U.S.
The above statements are intended to describe the general nature and level of work required of this position. They are not intended to be an exhaustive list of all duties, responsibilities or skills 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.