IT Risk Associate/IT Risk Specialist

Company

Federal Reserve Bank of Philadelphia

The Federal Reserve Bank of Philadelphia is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. It helps formulate and implement monetary policy, supervises banks and bank and savings and loan holding companies, and provides financial services to depository institutions and the federal government. The Federal Reserve Bank of Philadelphia serves eastern and central Pennsylvania, southern New Jersey, and Delaware.

The Supervision, Regulation and Credit (SRC) department of the Federal Reserve Bank of Philadelphia supervises banks in the Third District. The objectives of supervision are to:

• Evaluate and promote the overall safety and soundness of supervised institutions.
• Ensure supervised institutions’ compliance with relevant laws and regulations.
• Facilitate the stability of the financial system of the United States.
• Support the growth and stability of the U.S. economy.

Your role as Cyber / IT Risk Specialist:

• Lead or participate in examinations and monitoring activities to determine the effectiveness of a financial institutions’ information technology (IT) and cybersecurity programs and validate remediation efforts of identified issues.
• Prepare supervisory plans for relevant and effective risk-based supervision factoring in the size and complexity of the target financial institution.
• Prepare informative, well supported supervisory products and work papers, effectively communicating complex and problematic supervisory findings, including required actions to senior management and board of directors.
• Analyze IT and cybersecurity risk management programs and threat intelligence reports to determine risk and potential impact to the financial institutions and financial services industry.
• Contribute to and lead System efforts and initiatives to develop effective supervisory policy and guidance, supervisory activities, and analysis and thought leadership.
• Provide coaching, training, and mentoring of less experienced colleagues.

What we are looking for:

• Direct work experience with auditing or risk management and IT/cyber security controls. Advanced knowledge of common frameworks such as FFIEC, NIST, and ISO.
• Industry recognized information security certification (e.g., CISA, CRISC, CISM, CISSP) or equivalent certification is desirable.
• Experience working in regulatory/government agencies or financial services is ideal.
• Critical thinking and decision-making abilities.
• Strong analytical, written, and oral communication including strong presentation, and negotiation and influencing skills in dealing with all levels of management, boards of directors and other regulatory agencies.
• Ability to work on cross-functional teams with various stakeholders under tight deadlines.
• Maintain ongoing awareness of current and emerging technologies.

Additional Responsibilities:

• Demonstrates developing leadership skills and supports a collaborative and inclusive work environment.
• Maintains peer networks for horizontal risk comparisons.
• Manages administrative responsibilities well, including expenses, time keeping, and record retention.
• Demonstrates effective Core competency skills at related levels, both internally and externally.
• Complies with all applicable information security policies, guidelines, and practices.

What You Have:

Education and Experience:

• Bachelor's degree required. Master's Degree in cybersecurity, information technology, computer science or related field preferred.
• Commissioned by the Board of Governors (BOG) or possesses a commission from a federal banking supervision agency, or agreement to pursue a commissioning preferred.
• Minimum of three years of IT or cyber risk experience. Experienced with auditing or managing IT security and technical controls using industry standard framework.
• Experience in regulatory/government agencies, financial services and/or technology service providers preferred.

This job description reflects the higher level of a dual grade job posting.  Candidates who possess a slightly lower level of experience, education or qualification may also be considered.

Other Requirements:

• Valid Driver's license.
• U.S. citizenship required.
• Ability to travel up to 50% of the time. Some travel could be to various locations throughout the U.S. and may be up to 25% overnight.

The salary grade for this positi