Philadelphia, PA

Company

Federal Reserve Bank of Philadelphia The Federal Reserve Bank of Philadelphia is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. It helps formulate and implement monetary policy, supervises banks and bank and savings and loan holding companies, and provides financial services to depository institutions and the federal government. The Federal Reserve Bank of Philadelphia serves eastern and central Pennsylvania, southern New Jersey, and Delaware.

Job Summary:
Reporting directly to the Chief Financial Officer, the VP, Financial Reporting, Planning, and Analysis (FRPA) builds relationships with Bank stakeholders to develop, maintain, communicate, and implement Bank FRPA policies and best practices according to Bank's mission, vision, strategy, goals, and directives. The VP, FRPA provides strategic leadership over multiple responsibilities within the Finance department including financial planning and analysis, asset management, financial reporting and accounting, and payroll. You will be a Bank leader, ensuring the implementation of the Bank's strategic vision and ensuring its success. The VP, FRPA directly manages the FP&A Manager, Asset Management Team Lead, and Manager of Accounting and Reporting.

What You Will Do:

Priorities:

Decision-ready information. The FRPA officer will create a center of excellence in providing financial information that is clear, reliable, and decision ready. The processes created by this officer will be a model and source of leadership to the Finance department and Bank stakeholders. The function supports strategic decisions being made by Bank leaders. You will provide leadership over core FP&A, asset management, accounting and reporting activities, while also evolving these departments to provide information that supports more decentralized leadership decision-making and business value creation. By helping business areas manage their own financial data and streamlining processes, the VP, FRPA will free up resources to support higher value financial analysis. This transformation will require assessing current capabilities, pain points, and opportunities; the implementation and leverage of new processes and technologies; and continuous process improvement. The FRPA officer will also provide reliable financial information, analysis and briefings to senior leaders and external stakeholders.

Streamlined processes. You will oversee a FRPA infrastructure to support the Bank community to meet its goals. Managers reporting to the VP, FRPA are accountable for increasing FRPA efficiency through automation across the entire FRPA function within the System's operations, including the newly implemented Workday ERP and Adaptive forecasting systems and related workflows, which are in the process of changing and evolving. Shared services offerings within the Federal Reserve System will also be evaluated by the VP, FRPA to continue streamlining local processes and shift staff focus to higher value work, as applicable.

The VP, FRPA will continuously evolve, clarify, and enforce roles and responsibilities within the unit and with stakeholders to manage the Bank's finances responsibly while also supporting decision-making among Bank leaders. This will be important during the ERP and new forecasting system implementation, when the VP, FRPA will be responsible for understanding and applying new finance technologies and leading the Bank in adopting change. The FRPA team is responsible for making sure that data are of high quality (reliable and relevant), and that processes to assemble and process the data (such as budget formulation, monthly forecasting, in-year budget reallocations, month-end close, and annual financial reporting) are clear and efficient.

Strong controls and data quality. While the role will make a measurable improvement in the ease of information gathering and reporting, both inside and outside the Department and to support Bank priorities, you will also work with the FRPA team and stakeholders to identify, enhance, and maintain effective risk management in all FRPA processes, effectively owning key controls, quality assurance, and audit risk to mitigate any control gaps or failures and subsequent risks. Along with the CFO and other support roles, you will ensure that budget estimates, asset management, accounting, and reporting are accurate and of high quality. You will bring creativity to the development of priorities and strategies that enhance the work of the Bank's finance community through FRPA processes and decision support while maintaining strong controls.

Essential Accountabilities:

1. Team Leadership and Supervision

• Define strategy and our goals for the team and the process/ program
• Assign tasks, manage daily work of the team, trouble-shoot issues
• Foster an environment in which employees are encouraged to identify and implement departmental and Bank-wide quality improvement programs
• Ensure adequate back-up coverage and work-life balance within the team
• Manage employees, give performance feedback to employees at least quarterly, develop star performers

2. Department Leadership and Collaboration

• Communicate important developments, successes, pain points and other issues of interest to leadership and other partners
• Provide constructive problem solving and root cause analysis and work proactively through conflict
• Model positive cooperation among teams
• Provide training and mentorship to employees and managers throughout the Finance department

3. Cross-Bank Collaboration

• Understand and promote the Bank's control environment and the importance of compliance among partners.
• Bring expertise, leadership, and a reputation of excellent customer service to the Bank regarding issues in the P2P portfolio and regarding the Finance Department as a whole.
• Work proactively to solve problems and address causes at all levels of the Organization, with the overarching goal of meeting the Bank's goals and objectives while enhancing controls and managing risk

4. System Leadership and Engagement

• Provide expertise to and bring expertise back to the Bank from System workgroups and may assume significant leadership positions at the System level

5. Professional Development

• Continuously improve business acumen, partnerships and relationships, and contribution to our culture at all levels; maintain awareness of the Bank's main strategies, risks, and other issues
• Maintain accountability for meeting your professional and personal goals
• Keep up on and contribute to developments in your field

What You Have:

Education and Experience:

• Bachelor's or Master's degree in accounting, finance, engineering, public policy, or related business discipline, which includes courses in accounting principles and standards.
• Minimum of twelve years' experience, eight years in management roles with responsibility in budgeting, forecasting, asset management, financial reporting and/or accounting, or a related field such as auditing, strategic planning, data analysis, or procurement.

Knowledge and Skills:

• Strong knowledge of budgeting, forecasting, asset management, financial reporting and/or accounting.
• Expertise in improving the quality of financial information and related processes to support decision-making and meeting goals and objectives.
• Outstanding coach, mentor, and motivator with a commitment to hiring, retaining, and developing talent within an inclusive environment.
• Credibility and the ability to build working relationships and connections across the Bank and System.
• Expertise in operational excellence and skills to deliver high-quality customer service.
• Able to communicate clearly and effectively up, down, and across an organization.
• Outstanding change management and organization skills.
• Knowledge of Workday applications and directives preferred.

Other Requirements:

• Deep interest in public service and commitment to the mission of the Federal Reserve System.
• Employees may be required to travel by car/air.

We offer a great benefits package that features:

• Medical (4 options), Prescription, Dental (3 options), and Vision Insurance with no waiting period
• 401k/Thrift Plan with generous employer match
• Employer-funded Pension Plan
• Paid Vacation/Sick Time & Holidays
• Monthly $100 Commuter Allowance
• Flexible Spending Accounts and Healthcare Spending Accounts
• Flexible Work Schedule available in most departments
• Life Insurance and Long Term Disability Insurance
• Tuition Reimbursement (undergraduate and graduate)
• Parental Leave
• Free onsite 24/7 onsite garage parking
• Free onsite 24/7 Fitness Center including training classes, Peloton bikes and locker room / shower facilities
• Onsite Cafeteria & Coffee Shop
• Additional Convenience Benefits, Discounts and More…

Additional Information:

• The Federal Reserve Bank of Philadelphia believes that diversity, equity and inclusion among our employees is essential to our success as an organization, and we want to recruit, develop and retain the most accomplished people from a diverse candidate pool. To support a workplace culture of belonging, we offer eight employee resource groups (ERGs) and a 100 percent rating on the Human Rights Campaign (HRC) Corporate Equality Index. The Federal Reserve Bank of Philadelphia is proud to be an equal opportunity workplace.
• We have eight employee resource groups (ERGs) to support a diverse workforce. Abilities (supporting disabilities and allies), African Heritage, Asian-Pacific, Freedom (supporting LQBTQ+ and allies), Talent Forward (supporting career growth), Women United, Working Families and Veterans. ERGs are open to all employees.
• We will ensure that individuals with disabilities are provided reasonable accommodations to participate in the job application or interview process, to perform essential job responsibilities, and to receive other benefits and privileges of employment.
• A requirement of this position is that you will be fully vaccinated against COVID-19 or qualify for a medical or religious accommodation.
• All Federal Reserve Bank of Philadelphia 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 officer if necessary. You should review the {apply below} to ensure compliance with conflict of interest rules and personal investment restrictions.
• Background investigations and drug testing are required for all new hires as a condition of employment, after the job offer is made. Candidates for positions deemed as "safety sensitive" will also be screened for the presence of marijuana. Employment may not begin until the Bank accepts the results of the background investigation.
• All employees 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.
• Certain eligibility rules apply. You will provide work authorization to prove their eligibility to work in the United States.
• The above statements are intended to describe the general nature, level of work and the requirements of this position. They are not intended to be an exhaustive list of all responsibilities associated with this position or the personnel so classified. While this job description is intended to be an accurate reflection of this position, management reserves the right to revise this or any job description at its discretion at any time.
• This is not a 100% remote opportunity. You will be available to work on-site in at least a hybrid capacity.
• Learn more {apply below} the Philly Fed and its culture. Learn more about {apply below} for the Philly Fed.

Full Time / Part Time

Full time





Regular / Temporary

Regular





Job Exempt (Yes / No)

Yes





Job Category

Executive





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.

{apply below}