Regulatory Data Analyst Associate

Company

Federal Reserve Bank of Cleveland

The Federal Reserve Bank of Cleveland is part of the nation’s central bank and we’ve provided many opportunities for professional growth during our history.

We’ve been named “One of Northeast Ohio’s Best Places to Work” by North Coast 99. This prestigious award honors organizations with outstanding employment practices, including compensation, benefits, training, recruitment, retention, community services, and employee communications.

The Federal Reserve Bank of Cleveland serves the Fourth Federal Reserve District, which comprises Ohio, western Pennsylvania, eastern Kentucky, and the northern panhandle of West Virginia. It is one of 12 regional Reserve Banks that, together with the Board of Governors in Washington DC, make up the Federal Reserve System, the central bank of the United States.

The Bank’s mission is to foster the stability, integrity, and efficiency of the nation’s monetary, financial, and payments systems to promote optimal economic performance across the country and within the Fourth District.

This 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 not U.S. citizens or U.S. permanent residents may be eligible for the information access required for this position and sponsorship for a work visa, and subsequently for permanent residence, if they sign a declaration of intent to become a U.S. citizen and meet other eligibility requirements.

In addition, all candidates must undergo an enhanced background check and comply with all applicable information handling rules, and all non-U.S. citizens must sign a declaration of intent to become a U.S. citizen and pursue a path to citizenship.

Summary

Collects, validates, and interprets financial and/or structure data using a variety of tools and applications to assess quality and accuracy, and ensure fit-for-use data are provided in accordance with guideline established by policymakers and other stakeholders to carry out the Federal Reserve’s monetary policy, supervision and regulation, and fiscal agency responsibilities. Researches and analyzes data and problems to assist with development and implementation of emerging technology recommendations to enhance processes related to operations and strategic initiatives.

Essential Accountabilities

• Develops technical subject matter expertise and judgment around data collections by identifying trends; develops investigative techniques and judgment.
• Develops an understanding of interrelationships between data collections consistent with financial reporting concepts.
• Clearly communicates conclusions, analytical findings, and value-added information to Board of Governors staff and other stakeholders.
• Contributes to local strategic and operational initiatives and contributes to System initiatives.
• Applies understanding of core business systems, applications, analysis methods and tools.
• Develops knowledge of financial and structure transactions and Federal Reserve regulations and reporting instructions to guide financial institutions on report preparation, requirements, and technical issues; comments on proposals as needed.
• Participates in outreach to financial institutions to enhance understanding of regulatory reporting or accounting changes.
• Contributes to value-added information to Bank and Holding Company exams to assess institutions' processes and procedures to promote proper reporting of data.
• Gathers and analyzes information from end users and stakeholders to ensure processes and applications meet business needs; supports implementation of new applications for process improvement as needed.
• Performs analyses of technology-related information to troubleshoot and resolve technical business issues.
• Supports the ongoing integrity, efficiency, and compliance of technology business operations.
• Participates in the development and design of testing strategies; identifies and documents audit and Board requirements to ensure data and system integrity.
• Performs other duties as assigned or requested.

Education and Experience

• Bachelor’s degree and no prior years of related work experience

Knowledge Areas – Basic Level

• Ability to perform guided research
• Microsoft Office
• Regulations, procedures and practices of accounting, banking, and financial institution operations
• Knowledge of project management tools

Skill Areas – Basic Level

• Problem solving and analytical skills
• Ability to learn and/or enhance operational/technical skills (e.g., data mining and querying)
• Written and verbal communication

General Working Conditions and Physical Demands

Traditional office environment: Employees typically sit most of the day, work with a computer and may answer/respond to phone calls. Physical movement consists of walking for meetings, breaks, etc. Ability to lift items weighing approximately 20 pounds on a limited basis is required. Employees may be required to travel by car/air.   

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

Yes

Job Category

Analytical

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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