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267937 Requisition #
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With the implementation of the Enterprise Resource Planning system, the Federal Reserve System is transitioning its finance, human resources and procurement technology systems to one integrated, cloud-based platform using Workday and SAP Ariba. In preparing to go live with this new platform, we are establishing an Enterprise Resource Planning Support Office (ESO) to sustain and grow a world-class technology solution and deliver on the Federal Reserve’s mission.

To support this effort, we are recruiting top talent from across the System—an agile team that will embrace change, drive innovation and rapidly respond to the changing needs of our stakeholders.

About the Opportunity

This role will be part of the Controls and Compliance Function under Product Management.  The ideal candidate will have a broad knowledge of risk management and mitigation as well as control environment design and testing, and compliance.  They will collaborate with stakeholders in various levels of management across a range of business lines internal to the FRS, guiding them to address policy, risk, and compliance issues.  They will demonstrate broad knowledge of the human resources, financial management, and procurement business lines as well as COSO, Sarbanes-Oxley, and enterprise risk management.  The candidate will assist the Controls Lead in the execution of activities that support the vision and the overall goals of the Support Office and the Controls and Compliance Function.  They will be responsible for the activities that will help the function deliver excellent service that focuses on continuous improvement and shows responsiveness to evolving business needs. 

What You Will Do: 

  • Work with the Controls and Compliance Lead to launch the Controls and Compliance Function, in close coordination with the existing service providers (FSO, HRTeC, NPO) to ensure smooth transitions, seamless hand-offs, and clear roles and responsibilities.
  • Provide complex analysis of key and emerging risks in the ERP and evaluate alignment with risk strategy and compliance efforts.
  • Maintain system controls pertaining to SAFR and coordinate COSO work for the ERP, also maintain various control and compliance-related documentation.
  • Develop and implement risk and control-related training and awareness programs as necessary.
  • Lead and execute compliance testing, process analyses, gap identification, and remediation. 
  • Prepare materials for meetings related to issue tracking and remediation and assist the Controls and Compliance Lead during presentations with various business line management.
  • Perform research and analysis to provide guidance on any proposed new or changes to the design and implementation of internal controls, policies, or frameworks before implementation. 
  • Lead the research on emerging products, services, protocols, and standards in support of automated controls and compliance activities.
  • Develop strategic partnerships with other business units and control teams as well as other risk management functions throughout the organization.

Qualifications & Competencies: 

  • To effectively carry out the position requirements, the ideal candidate will have outstanding oral and written communication skills; acute analytical ability and attention to detail; outstanding interpersonal skills and ability to work with internal and external stakeholders; and broad control and compliance experience. The successful candidate will demonstrate the following competencies: 
  • Ability to influence others over whom no direct authority is given.  Ability to collaborate and achieve common ground among those with differing perspectives.
  • Self-motivated and independent, self-starter.
  • Accepts accountability and ownership for the product vision and continuously adds value while establishing the trust and team empowerment to deliver outstanding service. 
  • Adaptive and responsive to changing needs and demands of a matrixed organization.
  • Anticipates issues and problems, with a strategic focus on solutions.
  • Learning mindset geared toward innovation and creativity for applying technology capabilities in new ways; a forward-thinker. 

Education & Experience: 

  • Bachelor’s degree in finance, business, accounting, or similar field
  • 5 to 9+ years of relevant functional work experience
  • Experience designing, developing, and implementing compliance programs preferred

About the Opportunity 
The Federal Reserve System will soon fully transition its human resources, finance, and procurement technology systems to one integrated cloud-based platform using the Workday and SAP Ariba product solutions. In preparation for going live on this new platform, we are rebuilding our operational support capabilities to be singularly focused on one goal – to deliver a world-class platform in support of the Federal Reserve’s mission.

As part of this effort, we have created a new ERP Support Office to spearhead support of the new solution by establishing an agile team that will embrace change, drive innovation, and rapidly respond to the changing needs of our stakeholders.  Change of this magnitude does not happen overnight, so this transformation will occur over the next 18 months.  We are looking for experts to act as change agents and help us make this goal a reality. 

The ideal candidate will have an extensive background in risk management and mitigation as well as control environment design and testing, and technical expertise related to the area of compliance.  The position calls for cross-functional collaboration where the candidate will lead and collaborate with stakeholders across a range of business lines - business area personnel, internal and external audit, the Board of Governors, and external vendors – in various levels of management.  They will demonstrate a broad knowledge of the human resources, financial management, and procurement business lines as well as COSO, Sarbanes-Oxley, and enterprise risk management.  In support of the Product Management AVP’s vision and the overall goals of the Support Office, the candidate will create the vision for, drive the implementation of, and mature the ERP Program’s current controls model into a risk-focused Controls and Compliance Function that delivers excellent service and focuses on continuous improvement and sustained leading practices to meet evolving business needs. 

What You Will Do: 

  • Work with the Product Management AVP to define and launch the Controls and Compliance Function, in close coordination with the existing service providers (FSO, HRTeC, NPO) to ensure smooth transitions, seamless hand-offs, and clear roles and responsibilities.
  • Identify and select the right talent and resources to establish and mature the Controls and Compliance team, developing a strong talent pipeline and fostering a culture that supports the business needs. 
  • Initially be responsible for ensuring the controls design and documentation for the ERP are complete and adequate, through close coordination with existing business partners.
  • After implementation, have direct responsibility over the Controls and Compliance Function that will be responsible for the Workday and Ariba control environment including the following activities: maintenance of system controls pertaining to SAFR; coordination of (including performance of some) controls testing; point of contact for COSO coordination and testing; maintenance of various control and compliance-related documentation; risk management; tracking, monitoring, reporting, and coordination of Audit issues/findings and remediation plans; and liaison to internal and external audit and relevant groups (ex. ASI and the BOG).
  • Drive the team’s research on emerging products, services, protocols, and standards in support of automated controls and compliance activities.
  • Prepare materials for and lead regular and ad-hoc meetings related to the remediation of issues with senior management/executives and oversight committees as required.
  • Lead the review and ensure appropriate challenge occurs for any proposed new or changes to the design of internal controls, policies, or frameworks before implementation. 
  • Provide subject matter expertise to the human resources, financial management, and procurement business lines on the design and implementation of internal controls.
  • Develop strategic partnerships with other business units and control teams as well as other risk management functions throughout the organization.

Qualifications & Competencies: 
To effectively carry out the position requirements, the ideal candidate will have a strong combination of integrity, leadership, and management skills; communication and interpersonal skills; relevant operations management and control/compliance experience; strategic analytical skills; and knowledge of the Federal Reserve System. The successful candidate will demonstrate the following competencies: 
Ability to influence and lead others over whom no direct authority is given.  Ability to collaborate and achieve common ground among those with differing perspectives.

  • Excellent interpersonal and management skills to effectively deal with a diverse set of stakeholders.
  • Strong background in risk, controls, and compliance.
  • Inspirational and inclusive people leader with experience in talent development, coaching, and building and growing diverse teams.
  • Accepts accountability and ownership for the product vision and continuously adds value while establishing the trust and team empowerment to deliver outstanding service. 
  • Adaptive and responsive to changing needs and demands of a matrixed organization.
  • Anticipates issues and problems, with a strategic focus on solutions.
  • Serves as a change leader, focusing on ways to help build the organization’s capabilities for the future.  
  • Learning mindset geared toward innovation and creativity for applying technology capabilities in new ways; a forward-thinker. 

Education & Experience: 

  • Bachelor’s degree in finance, business, accounting, or similar field
  • 9+ years of relevant functional work experience
  • 3-5+ years of management or supervisory experience
  • Experience designing, developing, and implementing compliance programs required

Discover the Reason Why So Many People Love It Here! 
When you join the Richmond Fed, not only will you find a challenging and purposeful career, you’ll also have access to a wide range of benefits and perks that support your health and wealth, including: 

  • Great medical benefits
  • Pension and 401(k) with employer match
  • Paid time off
  • Tuition reimbursement
  • Employee resource networks
  • Paid volunteer leave
  • Flexible work options
  • Onsite amenities that make working here fun

Other Requirements and Considerations: 

  • Candidates should review the Bank’s Employee Code of Conduct to ensure compliance with conflict of interest rules and personal investment restrictions.  The Code is available on the About Us, Careers webpage at www.richmondfed.org.
  • Sponsorship is not available for this role. Selected candidate is subject to special background check procedures. 
  • Salary offered will be based on the job responsibilities and the individual’s knowledge, skills, and experience as defined in the job qualifications/experience. 

The Federal Reserve Bank of Richmond provides equal opportunity to all individuals without regard to race, sex, color, religion, gender identity or expression, sexual orientation, national origin, age, disability, or genetic information.

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