Sr. IT Risk Specialist, Large Institution Supervision

Federal Reserve Bank of Minneapolis

Federal Reserve Bank of Minneapolis

Multiple locations
Posted on Saturday, April 27, 2024


Federal Reserve Bank of San FranciscoWe are the Federal Reserve Bank of San Francisco—public servants with a mission to advance the nation’s monetary, financial, and payment systems to build a stronger economy for all Americans. We are a community-engaged bank, and are committed to understanding and serving the vibrant, expansive communities of the Twelfth District. That means we seek and appreciate new perspectives. We respect people for what they do and for who they are. We build opportunities to learn and grow. When you join the SF Fed, you become part of a diverse team united in its purpose to promote an economy that works for everyone. We empower our people to balance their life and work responsibilities. That’s why we offer a flexible hybrid work model that allows you to collaborate with office colleagues on some days, and work from home on others.

Are you passionate about large bank supervision and being a part of a dynamic team? The Information Technology (IT) Team within the Risk, Policy and Analysis Group’s Risk Specialist Team is looking for individuals with a passion for technology risk to join our team in the role of Sr. IT Risk Specialist, Large Institution Supervision. In this role, you will provide subject matter expertise in IT-related areas to the San Francisco Reserve Bank’s Large Institution Supervision Group (LISG). LISG is responsible for monitoring and assessing the safety and soundness of large banking institutions, U.S. operations of foreign banking organizations, and significant bank service providers in the District. You will closely interact with numerous individuals throughout the supervisory community and executive management of supervised firms.

Your focus includes leading assessments and examinations over a spectrum of IT and broader aspects of risks from the use, ownership, operation, connectivity, and impact of technology (e.g., cybersecurity, business resiliency, vendor risk management, financial technology and innovation) to determine the effectiveness of a firm’s business technology risk management program and validate remediation efforts of identified issues.

Essential Responsibilities:

  • Lead or participate in horizontal and firm-specific examinations, providing written conclusions and findings for inclusion in supervisory reports.
  • Work across portfolios (LIS, RBO, high risk CBO and Service Providers).
  • Develop and maintain expertise in cybersecurity/information security, cloud computing, IT operations, IT risk management, and IT internal audit, as well as supervisory expectations and industry practices in those areas.
  • Synthesize information from multiple sources to identify industry trends and emerging issues. Identify the implications of these trends, both at the micro and systematic levels and propose approaches to identified issues.
  • Develop an understanding of supervisory rating systems applied to large banks (LFI ratings) and service providers (URSIT ratings). Understand the FFIEC framework for supervising service providers and related supervisory expectations contained in the FFIEC IT handbook.
  • Assist in the development of firm risk assessments and supervisory strategies, and the vetting of exam scopes and findings. Provide briefings to senior FRS staff and others in the supervisory community.
  • Develop comprehensive, creative, and agile approaches to evaluating risks and operational resiliency. Analyze information security and risk management programs to determine an estimated risk and potential impact to the financial institutions and financial services industry.
  • Prepare informative, well-supported supervisory products and work papers, effectively communicating complex and problematic supervisory findings, including required actions to senior management and boards of directors. Prepare and deliver written analyses and presentations on firm-specific as well as broader industry trends or emerging risks.
  • Provide coaching, training, and mentoring of less experienced colleagues.


  • Bachelor’s degree in business, technology, or related fields of study. Advanced degrees or professional certifications with an emphasis on internal audit or information security (e.g., CRISC, CISM, CISA, CISSP, CIA) or examiner commission are desired.
  • Typically requires seven or more years of direct or comparable banking, financial industry or banking supervision experience with bank examinations, internal audit, or in conducting control assessments at a banking organization or consulting firm is desired.
  • Advanced knowledge of common frameworks such as FFIEC, NIST, FSSCC and ISO desired.
  • Knowledge of, ability to evaluate, and/or willingness to learn, cybersecurity/information security and technology risks facing complex financial institutions and prudent practices for managing those risks.
  • Strong analytical and critical thinking skills demonstrated by the ability to assimilate new information, understand complex topics, and produce sound analysis.
  • Excellent written and verbal communication skills and the ability to synthesize complex ideas and explain them clearly.
  • Ability to think strategically, bringing a broad perspective on how to translate ideas into executable actions.
  • Ability to thrive as a member of a team and to build collaborative working relationships with colleagues across teams and at different levels.
  • Strong organizational skills, project management skills and attention to detail.
  • Ability to travel between 15 up to 30 percent.
  • 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.


Base Salary Range: Min: Min: $155,700 Mid: $205,600 Max: $255,300 (Location: San Francisco)

Final salary and offer will be determined by the applicant’s background, experience, skills, internal equity, and alignment with geographic and other market data.

We offer a wonderful benefits package including: Medical, Dental, Vision, Pre-tax Flexible Spending Account, Backup Child Care Program, Pre-Tax Day Care Flexible Spending Account, Paid Family Care Leave, Vacation Days, Sick Days, Paid Holidays, Pet Insurance, Matching 401(k), and Retirement/Pension.

We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, perform essential job functions, and receive other benefits and privileges of employment. The SF Fed is an Equal Opportunity Employer.

The Bank's ethics rules generally prohibit employees, their spouses/domestic partners, and minor children from owning securities, such as stock, of banks or savings associations or their affiliates, such as bank holding companies and savings and loan holding companies. Employees in the S+C group also must ensure there are no conflicts of interest related to their previous employment and current financial interests. S+C employees may be subject to borrowing and deposit restrictions and may need to recuse themselves from certain supervisory work. Please review Section 5.3 and Appendix B of the Bank’s Code of Conduct to ensure compliance with the Code of Conduct conflict of interest rules and personal investment restrictions.

Full Time / Part Time

Full time

Regular / Temporary


Job Exempt (Yes / No)


Job Category

Bank Examination

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.

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