Lead Risk Specialist

Portland, Oregon

Federal Reserve Bank
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Company Federal Reserve Bank of San Francisco While the SF Fed is a Reserve Bank, we're not what you might expect. We're unreserved here. That means we seek new and diverse perspectives. We spark conversations and encourage debate. We build opportunity. We pursue careers that are true to ourselves. We are looking for people who want to help our country reach its full economic potential. When you join the SF Fed, you join a team of people working together to promote an inclusive economy that works for everyone. Group Overview The Supervision + Credit group is responsible for the supervision and regulation of state member banks, bank holding companies, savings and loan holding companies, financial holding companies, service providers, trust companies, and foreign banking organizations that operate in the Twelfth District. Supervised institutions are in all states of the District and range in size and complexity from small community organizations to some of the largest banking organizations in the country. Department Overview Under the authority provided in the Bank Service Company Act, the Federal Banking Agencies (FBAs) jointly supervise technology services provided to financial institutions by certain third party service providers. These services may include payment processing, internet and/or mobile banking services, and cloud infrastructure, among others. The Service Provider Program includes service providers that are deemed particularly systemically important (i.e., Significant Service Providers, or SSPs) and the ones that are deemed less so (Regional Service Providers, or RSPs). The Federal Reserve Bank of San Francisco (SF Fed) is seeking a Lead Risk Specialist to join our Service Provider Team, which supervises a variety of service providers primarily in the Federal Reserve's Twelfth District. The Service Provider Team is part of the Large Institution Supervision (LIS) team. Position Summary As the Lead Risk Specialist, you will be primarily responsible for leading and participating in the supervision of SSPs, preparing, reviewing, and executing risk focused supervisory activities utilizing the Federal Financial Institutions Examination Council's IT Examination Handbook . Supervisory activities involve onsite and offsite examinations and ongoing monitoring conducted through meetings with companies 'management and review of management reports and third-party assessments. Through effective oversight of SSPs, you will help ensure that operational and cyber resilience concerns that could impact a broad range of financial institutions are identified and remediated in a timely manner. You will interact closely with counterparts in other Federal Reserve districts and at other FBAs that share responsibilities for SSP supervision. You will also contribute to the SF Fed's broader Service Provider Team priorities and the LIS strategy. In this role, you will act as a service provider supervision subject matter expert for the SF Fed and the Federal Reserve System. The level of work is considered advanced, and you should be able to work under minimal supervision. This position reports to the Service Provider Team AVP and is subject to a 5 year rotation. Responsibilities: Serve as the Federal Reserve's Lead Central Point of Contact (CPC) for Visa Collaborate with the OCC, FDIC, and California Department of Financial Protection and Innovation CPCs to develop and execute Visa's supervisory strategy. Support annual assignment of the interagency Uniform Rating System for Information Technology (URSIT) ratings by leading and participating in risk focused assessments of Visa's products, services, and control functions through monitoring activities and target examinations. Ensure that there is clear linkage between risk assessments, supervisory strategies, event scopes and activities. Review quarterly management reporting packages to stay updated on the firm's strategic developments and identify any emerging supervisory concerns potentially warranting changes to the supervisory strategy. Monitor remediation of supervisory concerns and the firm's self identified areas of weaknesses. Ensure appropriate FRB resources are available for planned supervisory activities. Develop, mentor, coach, and provide meaningful feedback to FRB examiners participating in Visa's supervisory activities, in collaboration with examiners' managers. Ensure high quality and timely completion of supervisory work products by FRB examiners, perform quality control for compliance with SF Fed policies/procedures and System requirements. Work collaboratively with the interagency examination team, seek common ground to help reconcile any differences in opinion, and follow appropriate escalation procedures when warranted. Demonstrate high levels of leadership, collaboration, and influencing skills, building and maintaining effective working relationships within the interagency CPC team, SF Fed and the Federal Reserve System stakeholders, and with the supervised firm. Lead vetting's of supervisory assessments with SF Fed stakeholders and the SSP MG. Ensure compliance with SF Fed's Visa Operational Procedures Manual, the FBAs' Administrative Guidelines, and amendments thereto. Contribute to Federal Reserve System's SSP Supervisory Priorities Participate in or lead supervisory activities at out of District SSPs to develop horizontal perspective and expand SSP portfolio knowledge. Support Service Provider AVP in carrying out various System responsibilities, e.g., contributing to the SSP MG working groups or other responsibilities as assigned. Contribute to SF Fed's Service Provider Team Priorities Time permitting, contribute to the SF Fed's Service Provider Team priorities, including identifying companies that may be candidates for the service provider portfolio, scoping and participating in discovery reviews, contributing to the annual RSP portfolio revalidation and other activities related to compliance with the Board's RSP Reserve Bank expectations. Contribute to development of SF Fed's thought leadership and outreach activities related to service provider supervision, e.g., development of risk analyses and dashboards, white papers, examiner training, internal or external conferences, podcasts and newsletters. Contribute to development of service provider supervision leading practices, e.g., leveraging supervisory technology tools to better utilize internal and external data sources (SOC reports, news feeds, SEC filings, etc.) to risk focus examination and monitoring activities. Contribute to SF Fed's LIS Priorities Serve as part of the LIS Management Team, collaborating with LIS Officers and Managers to advance LIS strategic priorities. Time permitting, participate in or lead IT examinations at large banking organizations in the 12th District or System wide. Collaborate with the LIS Dedicated Supervisory Teams (DSTs), Risk Specialist Team (RST), and Portfolio Risk Management (PRM) Team IT examiners, sharing learnings from SSP supervisory activities and leveraging their experience at other supervised institutions. Requirements: Bachelor's degree in business administration, computer science, or other related field is required; advanced degree and/or professional certifications (CISA or CIA) is preferred. An examiner commission from a federal or state banking supervisory agency or experience as an auditor at a large financial institution is preferred. Ten or more years of combined safety and soundness and IT examination experience or senior IT audit experience at large financial institutions or their service providers. Working knowledge of and ability to interpret and apply IT supervisory guidance and industry standards, including the Uniform Rating System for Information Technology (SR 99 8); FFIEC IT Handbook , Sound Practices to Strengthen Operational Resilience (SR ), and relevant NIST publications and CIS Controls. Independent thinking abilities as well as advanced analytical, written and oral communication, and interpersonal skills. Ability to multi task, manage stakeholders' expectations, and deliver successful outcomes. A consistent track record of performance in core technical and behavioral competencies. Primary behavioral competencies to be evaluated include Collaboration, Influence, Emotional Intelligence, Accountability, Leadership, Achievement, Development, Critical Thinking, and Innovation. This position requires access to confidential supervisory information, which is limited to "Protected Individuals." Protected Individuals include, but are not limited to, U.S. citizens and U.S. nationals, U.S. permanent residents who are not yet eligible to apply for naturalization, and U.S. permanent residents who have applied for naturalization within six months of being eligible to do so or who will sign a declaration of intent to apply for naturalization before they begin employment. All Federal Reserve Bank of San Francisco employees must be fully vaccinated against COVID-19 or qualify for an accommodation from the Bank's vaccination policy; the Bank will provide accommodations that are required by law for individuals unable to be vaccinated due to medical condition or sincerely held religious belief. Other COVID-19 related policies and conditions of employment may apply if you are hired by a different Federal Reserve Bank. At the Federal Reserve Bank of San Francisco, we offer a wonderful benefits package including Medical, Dental, Vision, Pretax Flexible Spending Account, Paid Family Leave Care, Backup Child Care Program, Pretax Day Care Flexible Spending Account, Vacation Days, Sick Days, Paid Holiday's, Pet Insurance, Matching 401(k), and an unheard-of Retirement / Pension . click apply for full job details
Date Posted: 03 October 2022
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