Information Technology Specialist- Operational Risk, Financial Institution Supervision

Job details

• Salary:  Competitive
• Location: New York < NY < USA
• Job Type: Permanent, Full time
• Company:  Federal Reserve Bank of New York
• Posted on: 16 Feb 14

See job description for details
Overview

The Information Technology team covers large, complex financial firms and financial market utilities and focuses on three key areas within the IT discipline: (1) information (including cyber) security, (2) IT project management for systems that support critical financial market infrastructure, and (3) business continuity and resiliency. The team provides firm-specific supervisory assessments, cross-firm analyses, and emerging issues analysis in these three key areas. Each Information Technology (IT) Specialist has expertise in information security or IT project management and should have or develop proficiency in business continuity and resiliency, especially as it relates to the 2003 Interagency White Paper on Sound Practices to Strengthen the Resilience of the U.S. Financial System . In addition, each IT Specialist should have or develop competency in information security or IT project management, whichever area is not his/her area of expertise.

Job Responsibilities

Given the size of the firms we supervise and the scope of the activities in which they engage, the IT Specialist will generally focus on corporate or firm-wide risk management practices (rather than on those within individual lines of business). The IT Specialist will generally cover multiple firms in his/her area of expertise and provide coverage in other areas as needed. The IT Specialist’s primary responsibilities include the following:

• Identifying firm’s material information security, IT project management, and/or business continuity and resiliency risks or vulnerabilities, evaluating the effectiveness of the governance and controls for managing those risks, and recommending supervisory actions (as appropriate). [1]
• Developing and contributing to cross-firm analyses in areas covered.
• Developing timely and persuasive reports and delivering oral presentations on relevant issues or trends that could affect financial stability.
• Contributing to firm-specific supervisory analyses and products (e.g., annual assessments (roll ups), supervisory plans, etc.) in areas covered.
• Maintaining knowledge of emerging threats and vulnerabilities and risk management practices and other tools/techniques (Information security).
• Developing and maintaining relationships with other agencies (Treasury, Department of Homeland Security, etc.) and industry experts to understand emerging issues and influence relevant policies and practices. (Information security)
• Leading important efforts that entail coaching, training, mentoring and development of less experienced colleagues. Inspiring team members to improve continuously the quality of their work and to thrive even in challenging situations.

Qualifications:
Job Requirements

• Significant relevant industry and/or supervisory experience in at least one of the two key areas of focus for information technology and, at a minimum, a bachelor’s degree in business or IT related field. Specific experience requirements for information security and project management are as follows:
• Information Security: Minimum of five years work experience in network security, threat vulnerability management, security architecture, security application development, or information security policy development.
• Project Management: Minimum of five years work experience in project management, business analysis [2] or application development. In addition, overall work experience must include at least 3 years of project management if the majority of the experience is in business analysis or application development.
• The following certifications are either required or preferred:
• Required:
• Certified Information Systems Auditor (CISA)
• Preferred:
• Certified Information Systems Security Professional (CISSP)
• Project Management Professional (PMP)
• ITIL Service Manager Certification
• Demonstrated ability to get things done on a timely basis.
• Ability to assimilate, synthesize, and interpret complex data; put in relevant context, see connections and implications, and recognize relevance and irrelevance; thoughtfully evaluate alternatives; reach conclusions that are supported by facts and sound reasoning and that recognize broad themes or issues.
• Ability to apply knowledge of the financial industry, sound practices, banking principles, regulations and examination procedures to the supervision of a cross section of institutions; mine existing information for cross-institutional themes and issues to provide insight regarding institutions, industry practices and emerging risks that is forward-looking and consistent with strategic concerns.
• Strong analytical skills, including ability to identify complex issues and underlying causes; turn obstacles into opportunities for improvement; and suggest change as warranted.
• Ability to develop and share cross-firm (horizontal) perspectives, including communicating the implications for supervised institutions.
• Ability to decide and act when confronted by the unexpected; think ahead to anticipate possibilities and likelihoods; address problem situations quickly and directly; be flexible and responsive.
• Strong communication skills, including ability to identify, prioritize, frame, and clearly articulate material issues that reflect supervisory positions/concerns. Ability to make presentations and lead meetings that are clear, informative, well-organized, analytically sound, and effective; demonstrate confidence in delivery and ability to stay focused on key messages; manage questions and discussions effectively.
• Strong ability to establish and maintain credibility with all levels of management.
• Ability to effectively use available tools and data sources to enhance analysis and support examination activities.
• Interest, passion, and ability to lead and manage others.
• Excellent collaboration skills shown through consistent information sharing and effective working relationships with others. Communicate appropriately with people at various levels and backgrounds, even if they have differing viewpoints.
• Maintain expertise through continuing education (e.g., formal/informal training programs, participation in industry forums, etc.).

This position requires access to confidential supervisory 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, 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.

[1] For IT project management, our focus is on evaluating the capabilities and execution at financial market utilities and certain CFIs for critical systems used for clearing, settling, or recording payments, securities, derivatives, or other financial transactions. Our objective is two-fold: 1) to provide insight into the management capabilities of the firm and 2) to assist in identifying whether the implementation of major IT initiatives critical to the financial market infrastructure presents issues that could delay or disrupt the functioning of critical markets.

[2] Business analysis includes working with stakeholders in defining business requirements; developing business design documents, models, diagrams, etc.; working with developers to create prototypes; managing change requests; and providing complete documentation as required.

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