IT Risk Specialist, Regional and Community Bank Supervision at Federal Reserve Bank (FRB) in Boston, Massachusetts

Job Description:

Company

Federal Reserve Bank of Boston

IT Risk Specialist

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.
 

Always verify and apply to jobs on Federal Reserve Bank of Boston Careers or through verified Federal Reserve Bank social media channels.
 

The Regional and Community Bank supervisory unit is looking for a candidate to join our team. Your primary focus will be participating in and leading reviews of information technology at regional and community banks and third-party service providers. You will assess information technology risk exposures and the risk management programs of the institutions 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.  You will formulate conclusions and effectively communicate findings to bank management to influence change.

You will be provided with an excellent opportunity for personal and professional growth.  The position requires the ability to successfully complete the IT bank examiner commissioning program.  The position and job description posted is for a Specialist. However, you will be placed into an appropriate level within the Specialist family based on degree of experience.
 

This job is eligible for a hybrid schedule with at least 50% on-site work expected.
 

Responsibilities:

• Lead or participate in IT examinations, and or/special projects related to information technology risk successfully overseeing assigned resources, deliverables, and timelines.


• Display good judgement, well-reasoned decision making, and ability to problem solve.


• Lead or assist in the development of IT related risk assessments and supervisory strategies, and the vetting of examination scopes and findings.


• Prepare informative, well-supported supervisory products and work papers including required actions to senior management and boards of directors.


• Under limited oversight, present both verbally and in written form to internal and external stakeholders


• 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. 


• Lead 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.


• 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.


• Capability to evaluate a broad range of an institutions’ IT and information security framework, including, risk management and compliance programs, payment processing activities, and resiliency of operations.
   

Knowledge and Experience:

• Knowledge and experience normally acquired through, or equivalent to, the completion of a Master`s Degree and/or obtainment of other advanced professional designations, licenses, or certifications and either 10 years of commensurate financial industry or regulatory work experience


• Appropriate industry certifications are preferred. (e.g. CISSP, CISA, CISM, CCSP, etc.)


• Experience and knowledge of ACH process and wire transfer controls are beneficial


• Ability to travel is required (approximately 30% of work schedule on average).
   

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.

As a condition of employment, all Federal Reserve Bank of Boston employees must comply with the Bank's ethics rules, which generally prohibit employees, their spouses/domestic partners, and minor children from owning financial interests – such as stocks or bonds – from banks, savings associations, and systemically important financial institutions or their affiliates, such as bank holding companies or savings and loan holding companies. If you, your spouse or domestic partner, or your minor child own such assets and would be unwilling or unable to divest them if you were to accept a job offer, you should raise this issue with our recruitment team. Applicants should review the Bank's Employee Code of Conduct to ensure compliance with conflict of interest rules and personal investment restrictions.

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. 

For this job, any offer of employment is contingent upon successfully passing a two-phase security screening. The first phase consists of the satisfactory completion of a physical examination (including a drug screening), reference checks, and a security investigation consisting of credit and criminal history checks. 

The second phase, which might not be complete until after you begin working at the Reserve Bank, is an additional risk-based security screening determined by the risk rating of the position.  Depending upon the sensitivity of the position, this phase may include, and is not limited to, work and residency eligibility verification, and personal interviews with the candidate, references, and prior employers.  
 

All applicants must have been a US Citizen or a permanent resident who also resided in the United States for at least three (3) years.
 

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.

Always verify and apply to jobs on Federal Reserve System Careers (https://rb.wd5.myworkdayjobs.com/FRS) or through verified Federal Reserve Bank social media channels.

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