Supervision Analyst: Quality Management / Business Process Improvement - Federal Reserve Bank- Chicago

Supervision Analyst: Quality Management / Business Process Improvement

Federal Reserve Bank - Chicago, US-IL (Greater Chicago Area)

Job Description

Supervision Analyst – Quality Management / Business Process Improvement
Supervision and Regulation – Department Oversight




Do you want to work for one of the most influential, trusted and prestigious financial institutions in the world? The Federal Reserve Bank of Chicago is one of 12 regional reserve banks in the United States, along with the Board of Governors in Washington, D.C., that make up the nation's central bank. If you are looking for a career opportunity that allows you to make a contribution that counts, the Federal Reserve may be for you.


Job Summary
The Supervision Analyst will be responsible for building and maintaining the Supervision and Regulation Department Quality Management (QM) and Business Process Improvement (BPI) frameworks; promoting consistent application of supervisory processes to ensure high quality end-products and outcomes; helping create, implement and manage a disciplined process improvement program that improves quality, productivity and response time business processes through incremental enhancement. The Analyst will assist in the assessment of Department and /or business line risks, identifying potential impacts, and assisting in the design of action plans to address and/or mitigate those risks and monitor actions through completion. The Analyst will also participate in the preparation of the annual QM plan, QM Assurance reviews, and will lead/assist in various process improvement projects aligned to the Department’s Annual Strategic BPI and QM Plans.
The level of work required is considered intermediate and staff must be able to work under general supervision. This job does not have any direct reports.


Department Overview
Supervision and Regulation plays a critical role in the Bank's core mission, supervising regulating state chartered banks that are members of the Federal Reserve System and bank & financial holding companies. Our duty is to foster the stability, integrity and efficiency of the nation's monetary, financial and payment systems to promote optimal economic performance.




Essential Duties
· Supports and consults with business area management on issues related to operational risk management and process improvement including: process flows/mapping, controls, risk/performance metrics; researches and drafts responses to issues identified in Management and/or external reviews; may develop risk management models
· Supports business unit projects through consulting engagements; project scope is typically complex and sensitive in nature; manages scope, schedule and resources to meet project deliverables; directs cross-functional and business-specific project teams in completing project deliverables
· Supports analysis on various departmental programs to identify trends, measure process value and performance
· Support quality assurance in reviewing all activities to ensure that individual supervisory products, practices or routines meet established quality standards before continuing to the next phase of the process. This includes but is not limited to leading assurance testing engagements, preparing test scopes and work papers, performing assurance testing and analysis, preparing test results and correspondence to Division Management
· Periodically monitor Management’s testing/assertion techniques such as reviews or audits, to verify that established quality standards and processes are being followed and consistently applied
· Provides analytical support to the QM management team as well as Bank and System projects or committees; responsible for creating regular and ad hoc reports for the Board of Governors, Bank and/or Department committees, officers and managers
· May participate in System/District initiatives which may include working with staff from other Reserve Banks, the Board of Governors and other regulatory agencies
· Contributes to Department QM/BPI training programs
· Maintains a solid understanding of the major businesses and functions of the Federal Reserve, both within the District and across the System
· Works collaboratively with internal audit, external auditors, BOG staff and business units to achieve QM/BPI objectives
· Maintains a working knowledge of emerging issues, trends, and ongoing developments in the regulatory and financial services industry

Desired Skills & Experience

Education & Experience
· Bachelor's degree in Business or equivalent experience
· 3 to 5 plus years of direct work related experience
· Coursework in Economics, Finance, or Business Administration and FRS Examination program


Knowledge & Skills
· Demonstrates independent thinking and decision-making abilities
· Demonstrates strong written and oral communication abilities
· Possesses and applies both specific and broad knowledge of principles, practices, and procedures of the field of specialization to the completion of assignments


Other Requirements
· Applicants must be U.S. Citizens or permanent residents with the intent to become a U.S. Citizen


As a condition of employment, Federal Reserve Bank of Chicago employees must comply with the Bank’s ethics rules which generally prohibit employees, their spouses/domestic partners, and minor children from owning securities, such as stock, of banks or savings associations or their affiliates, such as bank holding companies and savings and loan holding companies. If you or your spouse/domestic partner or minor child own such securities, and would not be willing or able to divest them if you accepted an offer of Bank employment, you should raise this issue with the recruiter for this posting, who can provide you contact information for our ethics official if necessary.

Apply