Senior Vice President and General Auditor

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, supervise financial institutions, take actions to support the stability of the financial system, and support 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 General Auditor is central to those efforts and to maintaining the highest level of integrity at the Bank. The General Auditor is a key member of the executive leadership team and is a leader and role model for all at the Bank.

The Senior Vice President and General Auditor (SVPGA(edges) is the Bank’s Chief Audit Executive, responsible for overseeing and leading the Bank’s internal audit function. Reporting directly to the Audit Committee Chair of the Federal Reserve Bank of Minneapolis Board of Directors, this position has primary day-to-day leadership responsibility for all internal audit activities and ensures financial, productivity, service, and performance goals are met by the Audit department.

The department provides independent, objective, assurance and consulting services to achieve reliability of financial reporting, compliance with applicable laws, safeguarding of assets, and efficiency and effectiveness of=' operations. The department evaluates the adequacy and effectiveness of the Bank's risk management, internal control, and governance processes. All work is conducted in accordance with the professional standards of the Institute of Internal Auditors and consistent with Federal Reserve System guidance.

This position requires a highly ethical leader with strong abilities and experience in day-to-day management combined with strategic vision. The leader must build a culture of strong partnerships with key clients.

In addition to overseeing these functional responsibilities, the SVPGA is a member of the Bank’s Management Committee. As an active and constructive member of the Bank’s Management Committee, the SVPGA will weigh in on Bank‑wide policies, procedures, and work environment. Central to this role is achievement of the Bank’s mission to serve the public by pursuing a growing economy and stable financial system that works for all of us.

This leader will work effectively across departments in the organization with a Bank‑wide and System‑wide perspective and an emphasis on collaboration and consensus building.

Overview of Responsibilities

Audit Program Management

• Develops, assesses, and continually evaluates audit policies and techniques to ensure to the maximum extent practicable, that audit scope and procedures are adequate to protect Bank assets, personnel, and custodies from exposure to loss or other irregularities.

• Oversees the development and implementation of the annual audit schedule that provides appropriate audit attention while following System audit risk frequency guidance and considers risks or control concerns identified by the Audit Committee and management.

• Communicates and coordinates activities with external review groups including the external auditor, the Board of Governors staff, and others.

• Analyses and reports any significant issues related to the processes for controlling the activities of the Bank. Where appropriate, will recommend improvements to processes and controls, and identify needed management actions.

• Provides oversight for an anonymous complaint line.

• Employs a risk-based approach to the audit program.

Audit Department Management

• Sets department direction in a manner that strategically positions it for bold leadership and skilled execution, while concurrently meeting relevant System and Bank goals.

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