IT Risk Specialist – Supervision Group

261947 Requisition #

At the Federal Reserve Bank of New York, the work we do is consequential and challenging. Our environment encourages growth and diversity. Our employees flourish in a team-oriented atmosphere and are dedicated to the important mission of the New York Fed.

What we do:
The IT Risk Specialist will lead IT risk management assessments and examinations primarily for large/complex systemic financial institutions under Federal Reserve supervisory authority.

This IT Risk Specialist will serve as a subject matter expert and be responsible for assessing financial institutions’ IT risk management programs and associated management information systems to ensure they are operating in a safe and sound manner and complying with applicable banking laws, regulations, and policy statements. The IT Risk Specialist will lead national examinations for information security and cybersecurity, including assessing business resiliency and vendor risk management from a cybersecurity perspective.

Your role as IT Risk Specialist:

  • Lead or participate in examinations to determine the effectiveness of a firm’s IT risk management program and validate remediation efforts of identified issues.

  • Lead or participate in Federal Reserve System and local IT initiatives related to training, committees and contribute development of policies to enhance the supervision of financial firms.

  • Perform monitoring activities across the LISCC portfolio to understand micro (institution specific), horizontal (industry wide/peer), and macro (financial system supervision) IT risks.

  • Prepare supervisory plans for relevant and effective risk based supervision factoring in the size and complexity of the target firm.

  • 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.

  • Prepare and delivers written analyses and presentations on firm specific as well as broader industry trends or emerging risks.

  • Analyze information security and risk management programs to determine an estimated risk and potential impact to the financial institutions and financial services industry.

  • Develop and maintain strong ongoing relationships with Supervisory personnel within the Reserve Bank, at the Board of Governors and other Reserve Banks, and at other regulatory agencies.

  • Contributing to and leading System efforts to develop effective IT supervisory policy and guidance, supervisory activities, and IT analysis and thought leadership.

  • Provide coaching, training, and mentoring of less experienced colleagues. Review and provide recommendations on supervisory products to ensure that are well-supported and consistent with LISCC program requirements and expectations.

This description is intended to indicate the general level and function of this job. It is not intended to be all-inclusive and employees may be assigned duties not listed.

What we are looking for:

Education and Experience

  • A minimum of 8 years of direct work experience with auditing or risk management and controls.

  • Bachelor’s degree in computer science or related field.

  • Industry recognized IT certification (e.g., CISA, CRISC, CISM, CISSP) or equivalent certification is desirable.

  • Experience working in regulatory/government agencies or financial services is ideal.

  • Commissioned examiner is a plus.

Knowledge and Skills

  • Advanced knowledge in IT, risk management, business resiliency, network management/architecture, vendor risk management, vulnerability management, patch management systems, and data center operations and management.

  • Advanced knowledge of common frameworks such as FFIEC, NIST, and ISO.

  • Ability to evaluate an institution’s IT/information security program and provide expert advice on its ability to identify, protect, respond, and recover from business disruptions.

  • Ability to analyze threat intelligence reports to identify vulnerabilities, understand how they could be exploited, and the potential impact to the financial services industry.

  • The ideal candidate makes good decisions based on a mixture of analysis, wisdom, experience and judgment.

  • 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.

  • The ideal candidate is sought out by others for advice and solutions due to their expertise. Further, the ideal candidate recommends solutions and suggestions that turn out to be accurate when judged over time.

  • Strong time management skills and ability to prioritize multiple work streams.

  • Ability to work on cross-functional teams with various stakeholders on assignments under tight deadlines.

  • Ability to understand and translate complex technical issues into business implications for technical and business representatives.

  • Maintain ongoing awareness of current and emerging information regarding security threats, techniques and landscape.

Other Requirements

  • Up to 25% overnight travel during the course of the year. Travel may be to various locations throughout the U.S.


Why the Fed:

Working at the Federal Reserve Bank of New York positions you at the center of the financial world with a unique perspective on national and international markets and economies. You'll work in an environment with a diverse group of talented professionals to foster and support the safety, soundness, and vitality of our economic and financial systems. It's a challenge that demands the skills of a financial service professional and the intellectual curiosity of an academic—all combined with a passion for public service.


Possession of or the ability to obtain and maintain national security clearance which requires U.S. Citizenship.


This position requires access to confidential supervisory information, access to which is limited to “Protected Individuals” as defined by regulation of the Board of Governors of the Federal Reserve System.  Protected Individuals include, but are not limited to, U.S. Citizens, U.S. Nationals, and lawful permanent resident aliens (also known as “green card holders”) but do not include (i) a permanent resident alien who fails to apply for naturalization within six months of the date the alien first becomes eligible to apply for naturalization and (ii) an alien who has applied on a timely basis, but has not been naturalized as a citizen within 2 years after the date of the application, unless the alien can establish that the alien is actively pursuing naturalization.   If you are selected for an interview, you will be required to present documentation of your eligibility prior to the interview.


The Federal Reserve Bank of New York is committed to a diverse workforce and to providing equal employment opportunity to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, or military service.

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