Assistant General Auditor at Federal Reserve System in Minneapolis, MN

Job description

Company Federal Reserve Bank of Minneapolis The Federal Reserve Bank of Minneapolis (“Bank”) is a world class, mission driven organization pursuing a growing economy that works for all of us. The Bank is one of twelve Reserve Banks that, along with the Board of Governors in Washington, D.C., constitute the nation’s central bank (“System”). In that capacity, the 1,200 employees of the Bank conduct groundbreaking economic research, ensure that the nation’s payment system operates effectively, supervises financial institutions, takes actions to support the stability of the financial system, and supports the development of all communities in our district. The breadth of this activity creates a dynamic and engaging workplace for all employees. The Bank seeks to constantly improve its operations and earn the trust of the public that it serves. The Assistant General Auditor will oversee a district comprised of 19 professionals. This team is committed to providing the Bank and System with outstanding audit services, which include continuous risk assessment, risk-based audits -, both locally and system-wide, advisory engagements and ongoing business liaison activities. In this capacity, the Assistant General Auditor will report directly to the General Auditor, who in turn is responsible to the Chair of the Audit Committee of the Bank’s Board of Directors. This position requires regular on-site presence. Key Responsibilities include: Provide executive oversight of the Bank internal audit program and ensure high-quality, and accurate reporting to leadership. Support strategic efforts to strengthen the audit function, delivering improved audit services locally and nationally, and delivering measurable outcomes such as reduced audit deficiencies. Partner with the General Auditor to develop Audit department strategy and drive measurable improvements in audit effectiveness and deficiency reduction. Manage the district’s budget of $3+ million annually and ensure efficient resource allocation aligned to strategic priorities. Coordinate internal audit support of the Bank’s risk management efforts, align activities with second line functions and provide support to the external auditing firm’s efforts to provide an opinion on the Bank’s financial statements and related control environment. Contribute to the Federal Reserve System’s Conference of General Auditors, actively participating in committees and subcommittees to advance audit standards and practices. Collaborate with district leaders, Bank leaders, and System counterparts to constructively lead the district, address critical issues, and facilitate cross-functional initiatives and projects. Lead and direct audit activities across major operating areas of the Bank and Federal Reserve System (FRS), resulting in improved risk mitigation and compliance scores; provide actionable insights for enhanced internal controls. Develop leadership success and talent pipelines to sustain a high-performing audit team. Participate in System initiatives by representing the Bank and potentially assuming leadership positions at the System level, including contributing to System strategic direction and working with senior System decision makers; considers actions within the System that are relevant to the Bank and the district, and works with district leaders and staff to develop plans accordingly. Provide strategic oversight and expert guidance for all district operations, ensuring adherence to ethical standards and integrity in audit activities. Demonstrate a strong commitment to standardization across the Federal Reserve System, promoting consistent practices and continuous improvement. Demonstrate a thorough understanding of authorities established by Bank policy, Board of Governor policies, regulatory policies (including other Federal agencies) and the Delegation of Authority Schedule and act in accordance with these guidelines. Reinforce the Bank’s control environment and the importance of compliance by