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Vice President – Financial Support Services

Federal Reserve Bank of Cleveland

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Details
Posted:
April 9, 2018
Location:
Cleveland, Ohio
mapContent
Salary:
Type:
Full Time - Experienced
Required Education:
Bachelors or equivalent

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, make up the Federal Reserve System and the central bank of the United States.

Our mission is to foster the stability, integrity, and efficiency of the nation's monetary, financial, and payments systems, in order to promote optimal economic performance across the country and within the Fourth District. Key strategic objectives for 2017 - 2019 are:

-      HIGH PERFORMANCE CULTURE -- Build a sustained culture of high performance, engagement, and inclusion to achieve our strategies and deliver business driven outcomes with excellence

-      INNOVATIVE PAYMENT STRATEGIES AND SOLUTIONS -- Proactively identify and develop payments solutions to transform Bank, System, and Treasury practices

-      STRENGHTHEN FINANCIAL STABILITY -- Strengthen our contributions to financial stability through advanced analytics and research

-      INFLUENTIAL ECONOMIC RESEARCH AND POLICY CONTRIBUTIONS -- Consistently produce influential, high-quality economic research and deepen expertise that informs policy contributions

-      VOICE OF THE FOURTH DISTRICT – Be an influential voice in our region and provide leadership in the Federal Reserve System

LEADERSHIP OPPORTUNITY

The Federal Reserve Bank of Cleveland is seeking a Vice President for our Financial Support Services Function. This leadership role reports to the Executive Vice President and Chief Financial Officer and provides strategic direction for the District’s finance, accounting and procurement functions. The Vice President is responsible for the development and administration of the District’s operating and capital budgets, the development of the financial statements, and collaborating with functional areas to ensure the Bank maintains a sound control environment.

The Vice President of Financial Support Services leads and develops a diverse team of 25+ employees in the areas of accounting, internal controls testing, accounts payable, travel program and processing, procurement, financial planning and cost accounting.

In this role, the Vice President will participate in and be expected to take leadership roles on various Federal Reserve System committees and groups that help establish the Bank as a respected peer and leader within the Federal Reserve System. Additionally, the Vice President will build and develop the capacity and capability of the Financial Support Services Team.

Specific expectations include:

  • Developing and executing a strategic plan for the function that includes relevant metrics to measure performance.
  • Attracting, developing, and retaining a high caliber professional staff with diverse capabilities, as well as developing successors and talent pools for key and critical roles.
  • Creating an environment that rewards, recognizes, and implements innovative ideas that positively impacts performance for the Bank and the function.
  • Executing the planning, development, and implementation of accounting strategies, policies, and procedures that comply with evolving accounting requirements, Federal Reserve System requirements, and industry trends.
  • Maintaining accountability for the District's internal control framework and the annual COSO process, and preparation of the comparative financial statements and footnotes. Ensuring assertion letters related to financial controls are supported by rigorous review and testing and accurate and timely comparative financial statements and footnotes are delivered for the District.
  • Ensuring the Bank is in compliance with all applicable accounting, contract, purchasing and expense policies.
  • Preparing, presenting, and interpreting financial reports for executive level briefings and presentations to management, directors, national business offices, and the Board of Governors staff.
  • Influencing Federal Reserve System accounting, financial planning, and procurement direction and policy by collaborating on and leading workgroups and initiatives within the Federal Reserve System and the Bank.
  • Continuing to strengthen the function’s reputation for objectivity, integrity and value-added work product within the District and at a national level.
  • Actively engaging professionally within the region and nationally to develop strong personal contacts with leaders of key external stakeholder groups and organizations.

CRITICAL BACKGROUND AND CAPABILITIES

The successful candidate will be an experienced financial leader with a broad and substantive knowledge of accounting, budgeting, forecasting, and procurement issues and a strong record of successful leadership. Substantial experience within the Federal Reserve System is preferred.

Qualifications: The following demonstrated qualifications are required for the position.

  • Bachelor’s degree in Accounting, Finance, Business Administration or related business field or a non-business related undergraduate degree with a Master’s degree in Business. Certified Public Accountant designation (CPA Certification) is required.
  • A minimum of 10 years of related experience with at least 5 years of management experience or leadership experience at the officer level within the Federal Reserve System or the equivalent level of job responsibility within another organization.
  • Substantive finance and accounting knowledge and experience in dealing with difficult and complex issues with a strong record of accomplishment.
  • Ability to effectively navigate and achieve results in a federated, multi-location, multi-divisional organizational structure with numerous and diverse business needs and customers.
  • Demonstrated ability to develop productive and collaborative relationships with senior level management, peers, and other key stakeholders.
  • Strong interpersonal skills, including the ability to work effectively with, and build consensus among, diverse constituents whose interests sometimes compete.
  • Experience in managing and developing people, projects, and programs effectively to obtain optimal outcomes.
  • Excellent written and oral communication skills.
  • Highly motivated professional demonstrating sound judgment and integrity.

Internal Number: 253761
About Federal Reserve Bank of Cleveland
The Federal Reserve Bank of Cleveland is part of the nation's central bank. We have provided many opportunities for professional growth during our history. For eighteen years in a row, we have 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.At our state-of-the-art Cleveland office we are seeking innovative thinkers with vision to build the framework that will carry the Bank into the future. Join our team!
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