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Audit Director - FedNow

Federal Reserve Bank of Boston

Federal Reserve Bank of Boston

Boston, MA, USA
Posted on Friday, May 31, 2024


Federal Reserve Bank of BostonAs an employee of the Boston Fed, you will work to promote sound growth and financial stability in New England and the nation. You will contribute to communities, the region, and the nation by conducting economic research, participating in monetary policy-making, supervising certain financial institutions, providing financial services and payments, playing a leadership role in the payments industry, and supporting economic well-being in communities through a variety of efforts. The Boston Fed is one of 12 Reserve Banks and we serve all or parts of Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont. Our mission is accomplished through our Bank's values: diversity, equity and inclusion, innovation, integrity, and leadership.

This role is eligible for a hybrid schedule with on-site work expected. The individual is expected to reside in the 1st District unless you were given an exception.

As a member of the Audit Leadership Team, this position is accountable for formulating a comprehensive, risk-based financial and operational related annual audit plan, managing departmental resources, and ensuring that audits are conducted in alignment with IIA Standards. This position also contributes to the strategic planning of the department and monitors the execution of these plans. This position is accountable for conducting program and project audits as required and incorporate automated control testing and facilitate the incorporation of data analytics procedures as required. This position is fully dedicated to the audit coverage of the FedNow Service.

Principal Accountabilities

  • Manage the development and execution of comprehensive audit programs to evaluate governance and risk and determine the effectiveness of controls regarding the reliability and integrity of financial and operational information, the effectiveness and efficiency of operations, safeguarding of assets and compliance with applicable rules and regulations.
  • Develop and monitor short and long-range strategic objectives. Identify Bank activities subject to audit and special reviews. Schedule the audits in accordance with the Conference of General Auditors' Risk Analysis Methodology.
  • Review, approve audit reports, and make presentations to all levels of Bank management and the Audit Committee of the Board of Directors on audit results and other matters.
  • Develop annual budgets, formulate the annual audit program and monitor the accomplishment of meeting the budget. Monitor and schedule appropriate audit coverage of programs and projects.
  • Oversee the development and execution of liaison activities for each audit area. Supervise department personnel and evaluate the performance of department staff.
  • Approve personnel actions (salary increases, hirings and terminations).
  • Participate/Lead special projects sponsored by the Bank, the Conference of General Auditors or other System groups.
  • Facilitate the professional development of Department staff, identify and coordinate Department training activities and assist the System Center for Auditor Development.
  • Foster a diverse and inclusive working environment where all employees feel valued, respected, engaged, and developed.

Other Accountabilities

  • Perform other duties as assigned.


  • This position is required to directly supervise 3-5 employees.

Knowledge and Experience

  • Knowledge and experience normally acquired through, or equivalent to, the completion of a Bachelor's degree (Advanced degree preferred) and a minimum of 7-10 years of job-related experience.
  • One of the following professional certifications required: Certified Internal Auditor, Certified Public Accountant, or Certified Information Systems Auditor.
  • Requires working knowledge of data analytics, automated controls, and General IT Controls.
  • Requires knowledge of risk management, compliance, and data related frameworks.
  • Adept at thinking critically and analyzing data from a variety of sources.
  • Exhibits strong communication skills including strong verbal and writing skills.
  • Supervision experience in a complex, team-oriented and stakeholder centric environment.

The Federal Reserve Bank of Boston is committed to a diverse and inclusive workplace and to provide equal employment opportunities to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, or military service.

All employees assigned to this position will be subject to FBI fingerprint/ criminal background and Patriot Act/ Office of Foreign Assets Control (OFAC) watch list checks at least once every five years.

For this job, any offer of employment is contingent upon successfully passing a two-phase security screening. The first phase consists of the satisfactory completion of a physical examination (including a drug screening), reference checks, and a security investigation consisting of credit and criminal history checks.

The second phase, which might not be complete until after you begin working at the Reserve Bank, is an additional risk-based security screening determined by the risk rating of the position. Depending upon the sensitivity of the position, this phase may include, and is not limited to, work and residency eligibility verification, and personal interviews with the candidate, references, and prior employers.

All applicants must have resided in the United States for at least three (3) years.

Full Time / Part Time

Full time

Regular / Temporary


Job Exempt (Yes / No)


Job Category


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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