About the job
Company

Federal Reserve Bank of New York

Working at the Federal Reserve Bank of New York positions you at the center of the financial world with a unique perspective on national and international markets and economies. You will work in an environment with a diverse group of experienced professionals to foster and support the safety, soundness, and vitality of our economic and financial systems. It is a challenge that demands the skills of a financial service professional and the intelligence of an academic—all combined with a passion for public service.

This position will offer workplace flexibility e.g. working remotely or on-site as needed/ desired during the week. Employees can expect to be in the office weekly as needed for meetings and team collaboration and should live within a commutable distance.  The Bank believes in work flexibility to balance the demands of work and life while also connecting and collaborating with our colleagues in person a couple days a week.

What we do:

Business and Finance Partners’ (BFP) primary objective is to partner with teams across the Bank to support their strategic and financial management requirements. Your role as part of the Business Finance Partners team is specifically within the BFP supporting the Technology Group (TG). This team provides TG with management, financial, and accounting information and guidance and supports and maintains internal control environment services.

Reporting to the Business Finance Manager, you will partner with business leaders by providing financial and business guidance supported by data and analytics and work with other finance personnel throughout the Bank. You will provide finance support by interpreting, reporting, and forecasting financial and business-related activities within the Bank. You will help develop annual operating budgets, coordinate across the Bank to develop controls designed to comply with the Federal Reserve System’s cost accounting requirements and act as a trusted financial partner to other departments.

In addition to the budgeting/forecasting, reporting and analytical responsibilities mentioned above, the selected individual will interact with senior management of TG and assist with special projects to advance departmental goals.

Your role as a Business Finance Associate:

• Provide support in all aspects of financial management reporting including the development of annual operating budgets, forecasting, and the monthly reporting of the financial results
• Provide accurate historical and projected financial and operational information through financial model creation
• Maintain a working knowledge of all TG teams, their operations strategies, challenges and resource needs.
• Provide consultative finance and support to the teams throughout the Bank. Partner with businesses to help them think about resource allocations, investment prioritization, and trade-offs.
• Lead creation of budgets and management reporting, cost-benefit analysis, and forecasts
• Lead the preparation and presentation of customized ad hoc analyses to meet client needs. This includes preparing formal presentations for multiple levels of audiences.
• Lead Bank or System meetings, tasks forces, and workgroups on issues relevant to the Division`s work, which may include conducting research, providing information, and preparing formal reports and recommendations
• Support compliance with district and System policies, standards, and procedures
• Implement operational improvements and business process re-engineering strategies to enhance department performance, manage risk, and benchmark to industry best practices. Monitor internal control processes.
• Recommend changes to maximize operational effectiveness and promote the accomplishment of goals

What we are looking for:

• 7+ years of relevant experience, in financial reporting and forecasting
• Undergraduate degree in accounting, business, finance, economics or related field. Advanced degree or a CPA/CFA a plus
• Knowledge and application of cost accounting, budgeting, forecasting, and financial control procedures
• Strong relationship management skills
• Proficient in working with different systems to retrieve, synthesize, and analyze data

Benefits:

• Our organization offers benefits that are the best fit for you at every stage of your career:
• Fully paid Pension plan and 401k with Generous Match
• Comprehensive Insurance Plans (Medical, Dental and Vision including Flexible Spending Accounts and HSA) – Subsidized Public Transportation Program
• Tuition Assistance Program
• Onsite Fitness & Wellness Center
• Flexible Work Arrangements
• And more

The Federal Reserve Bank of New York is committed to a diverse workforce and to providing equal employment opportunity to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, or military service.

Incumbent must be fully vaccinated against COVID-19, unless the Bank grants an exemption based on a medical condition or sincerely held religious belief. 

Please note that the position requires access to confidential supervisory information and/or FOMC information, which is limited to “Protected Individuals” as defined in the U.S. federal immigration law. Protected Individuals include, but are not limited to, U.S. citizens, U.S. nationals, and U.S. permanent residents who either are not yet eligible to apply for naturalization or who have applied for naturalization within the requisite timeframe. Candidates who are permanent residents may be eligible for the information access required for this position if they sign a declaration of intent to become a U.S. citizen and pursue a path to citizenship and meet other eligibility requirements.

In addition, all candidates must undergo an enhanced background check, comply with all applicable information handling rules, and will be tested for all controlled substances prohibited by federal law, to include marijuana.

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, management reserves the right to revise the job or to require that other or different tasks be performed when circumstances change.

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.

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