Job Information
Federal Reserve System IT Risk Specialist – Large Bank Supervision in Boston, Massachusetts
Company
Federal Reserve Bank of Boston
As 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 job is eligible for a hybrid schedule with some on-site work expected. The individual is expected to reside in the 1st District unless you were given an exception. Travel would be required for this role.
The Information Technology (IT) Risk Specialist participates in reviews and examinations that evaluate the effectiveness of IT risk management practices primarily for a large financial institution within the large and foreign banking organization (LFBO) portfolio of institutions supervised by the Federal Reserve System (System). As a member of a dedicated supervisory team (DST), you will assess information technology risk exposures and the risk management programs of the institution through participation in on-site examinations and regular monitoring practices of business activities to ensure they operate in a sound manner, and comply with applicable banking laws, regulations, and policy statements.
The IT Risk Specialist will use sound analysis and reason to develop conclusions and recommendations on complex issues including elevating the effectiveness of management and risk management practices. Through these recommendations, you will negotiate, influence their actions, and resolve any conflict that arises. You may participate in cross-institutional reviews in your specialty area, provide leadership or coordinate assistance to support national supervision program management. You will also share knowledge with local and System peers, being a valuable team member by holding yourself accountable and being receptive to performance feedback and the divergent views from others.
Responsibilities:
Lead or support the oversight of information technology risk at a large complex institution. Maintain liaisons with Dedicated Supervisory Team staff, institution management, other regulatory agencies, and other System risk specialists.
Lead or participate in targeted reviews, examinations, and or/special projects related to information technology risk. Demonstrate strong judgment and well-reasoned decision making in situations that may involve highly complex issues, public scrutiny, market reactions, and potentially adversarial circumstances.
Lead or assist in the development of firm risk assessments and supervisory strategies, and the vetting of examination scopes and findings. Provide briefings to senior Federal Reserve staff and others in the supervisory community.
Prepare informative, well-supported supervisory products and work papers, on complex and problematic supervisory findings, including required actions to senior management and boards of directors.
Prepare and deliver written analyses and presentations on firm specific as well as broader industry trends or emerging risks.
Evaluate developments impacting firm’s risk profile through analysis of internal risk management reports and interactions with institution management.
Maintain expertise in information technology (including cybersecurity) risk. Identify emerging institutional, regional, economic, and industry issues and their potential impact.
Maintain current awareness of relevant regulations, laws, issues, trends and ongoing developments in information technology and in the broader financial services industry.
Be a team and System resource by leading or participating on high-level projects, workgroups, and strategic projects. Contribute to the understanding of latest risk, risk management practices and changes in policies, procedures, tools or guidance on a System basis.
Be a team player in demonstrating personal accountability and openness to constructive feedback to promote a positive work environment.
Education and Experience:
Bachelor’s degree is required.
10 years of commensurate financial industry or regulatory work experience.
Appropriate industry certifications are preferred. (e.g. CISSP, CISA, CISM, CCSP, etc.)
Desirable Knowledge and Skills:
Advanced technical knowledge of IT and information security risk management programs, measurement tools, models, control frameworks, and risk indicators used to make decisions on IT/cybersecurity risks for an organization.
Capabilities to evaluate a broad range of an institutions’ IT and information security framework, including, risk management and compliance programs, payment processing activities, custody services, investment management and servicing utilities, and resiliency of operations.
Demonstrated effective written and verbal communication skills, including the ability to communicate technical topics in concise terms that non-technicians can readily understand.
Our total rewards program offers benefits that are the best fit for you at every stage of your career:
Comprehensive healthcare options (Medical, Dental, and Vision)
401K match, and a fully funded pension plan
Paid vacation and holidays; flexible work environment, healthy workflow
Generously subsidized public transportation
Annual tuition reimbursement
Professional development programs, training and conferences
And more…
The Federal Reserve Bank is committed to a diverse, equitable 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.
This position requires access to confidential supervisory information and/or FOMC information, which is limited to "Protected Individuals" as defined in the U.S. federal immigration law. Protected Individuals include, but are not limited to, U.S. citizens, U.S. nationals, and U.S. permanent residents who either are not yet eligible to apply for naturalization or who have applied for naturalization within the requisite timeframe. Candidates who are not U.S. citizens or U.S. permanent residents may be eligible for the information access required for this position and sponsorship for a work visa, and subsequently for permanent residence, if they sign a declaration of intent to become a U.S. citizen and meet other eligibility requirements.
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. All candidates must undergo an enhanced background check and comply with all applicable information handling rules.
The above statements are intended to describe the general nature and level of work required of this position. They are not intended to be an exhaustive list of all duties, responsibilities or skills 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.
Full Time / Part Time
Full time
Regular / Temporary
Regular
Job Exempt (Yes / No)
Yes
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.
Privacy Notice (https://www.kansascityfed.org/documents/7797/Workday_Privacy_Notice.pdf)
OUR BANK has one of the most recognizable brands around the world. The Federal Reserve is the central bank of the United States—one of the world's most influential, trusted and prestigious financial organizations. The Federal Reserve is charged with the important mission of promoting a strong economy and a stable financial system and fulfills this responsibility by formulating national monetary policy, supervising and regulating banks and bank holding companies, and providing financial services for banks and the U.S. government.
OUR PEOPLE are diverse in background and ideas, which allows for ongoing creativity and innovation. Ultimately, they are the ones who push our high-performance, exchange-driven culture forward.
Why Our People Choose Us:
Our reputation precedes us
There will always be room for personal growth
Our people are first
You’ll find the right balance
Your responsibilities will be meaningful
We hope that you will be our future colleague.