Large Bank Examiner/Senior Examiner – Information Technology and Cybersecurity Risk Specialist

Company

Federal Reserve Bank of Minneapolis

The Federal Reserve Bank of Minneapolis supports the Federal Reserve System (System) in ensuring a safe, sound, and accessible banking system and stable financial markets through supervision and regulation of the nation's banking, financial and payments systems and through effective implementation of statutes that inform and protect the consumer. This bank also works with other federal and state agencies and regulators to promote safety and soundness in the operation of the financial industry and fair and equitable treatment of consumers in their financial transactions.

We currently have a role open for an IT/Cybersecurity risk specialist in the System Analytics and Support group, participating on cybersecurity examinations of firms in the System’s Large and Foreign Banking Organization (LFBO) portfolio. This role will lead or participate on the LFBO’s annual horizontal cybersecurity examination of firms in the LFBO portfolio, as well as other IT/cybersecurity examinations of firms in the portfolio, as needed. This includes assessing cybersecurity practices, operational resilience programs, and information technology infrastructures to ensure they are operating in a safe and sound manner and complying with applicable banking laws, regulations, and policy statements. The candidate will also lead or participate on other examination activities, as determined by management.

The LFBO portfolio supervises all U.S. institutions with total assets of more than $100 billion and all foreign banking organizations operating in the United States regardless of size that are supervised by the System but not subject to Large Institution Supervision Coordinating Committee (LISCC) portfolio supervision, which is responsible for overseeing the supervision of the largest, most systemically important institutions.

The Bank believes in flexibility to balance the demands of work and life while also recognizing the necessity of connecting and collaborating with our colleagues in person. Onsite work is an essential function of this position, and you are expected to be in the office 3 days per week for meetings and team collaboration.

Responsibilities:

• Leads and manages supervisory events, including determining scope, rating, resource needs, and work assignments. Alternatively, participates on supervisory events as required during System examinations.
• Drafts, reviews, organizes, verifies, and evaluates supervisory event documents prepared by self and others.
• Communicates, describes, supports, and discusses findings of supervisory events with Reserve Bank and supervised institution management.
• Analyzes supervised institution performance regarding laws, regulations, and regulatory policies and supports conclusions about overall status of supervised institution.
• When in a leadership role on an examination, provides training, work direction, and feedback to assisting examiners.
• Ensures effective supervision of assigned risk areas, including: preparing a comprehensive and independent risk assessment; developing, documenting and implementing a supervisory strategy; following up on examination findings and enforcement actions; and conducting ongoing monitoring.
• Develops and maintains productive working relationships with management at supervised firm(s) through regular and in-depth discussions to understand changes in strategy, issues, and challenges facing the institution.
• Maintains effective communication with the supervised firm(s), the Board of Governors, and Reserve Bank management related to various institution developments, examination findings, changes in major product lines and in risk characteristics.
• Seeks out and participates in opportunities, including assisting with System or Reserve Bank special projects.
• Safeguards equipment, sensitive data, and resources according to the SRC Information Security and Data Handling Handbook.
• Handles records in accordance with the System Records Retention Manual compliance plan.
• Performs other duties as assigned.

Qualifications:

• Bachelor's degree in a related field.
• Commissioned examiner with experience in large financial institution IT/cyber risk management preferred. In lieu of examiner commissioning, specialized expertise in financial services with an emphasis on large financial institution information technology risk management.  
• Examiner: At least four (4) years of experience in financial services, banking regulations, examinations, and/or expertise in a financial services or other relevant specialty.
• Senior Examiner: At least six (6) years of experience in financial services, banking regulations, examinations, and/or a high level of expertise in financial services.