The authors report on a rubidium atomic magnetometer designed for use in a shielded environment. Operating in the spin-exchange relaxation-free regime, the magnetometer utilizes parametric modulation of the z-magnetic field to suppress noise associated with airflow through the oven and to simultaneously detect x- and y-field components, using a single probe beam, with minimal loss of sensitivity and bandwidth. A white noise level of 60 fT/(Hz)(1/2) was achieved.