The FRBSF’s Supervision and Credit Division supervises financial institutions and service providers to financial institutions in the western United States. Our mission is to ensure a safe, sound, and accessible financial system. Under delegated authority from the Board of Governors, the FRBSF provides regulatory oversight of SVB Financial Group (SVBFG). SVBFG reported $142 billion in total assets as of March 31, 2021 and will become a new entrant into the Federal Reserve’s Large and Foreign Banking Organizations (LFBO) program subject to tailored Category IV Dodd-Frank Act (DFA) Enhanced Prudential standards (EPS). SVBFG is headquartered in Santa Clara, CA and provides financial services to clients in the emerging technology and private wine industries. The organization’s primary focus is serving clients engaged in creating/sustaining innovation with industries including hardware, software, fintech, life science/healthcare, and clean energy, while cultivating strong global relationships with venture capital and private equity firms.
We have an excellent opportunity on the FRBSF’s SVBFG dedicated supervisory team to serve as a senior risk specialist, covering Information Technology and Third-Party Risk Management. As part of the Federal Reserve’s LFBO program, you will report to the SVBFG Operational Resiliency Manager on a team of risk specialists responsible for the assessment of SVBFG’s Governance and Controls under the Federal Reserve’s Large Financial Institution’s Rating Framework, as well as the assessment of various rating components under the interagency CAMELS rating framework. The incumbent will lead the development and execution of a strong supervisory program for Information Technology and Information Security, that includes a comprehensive understanding of firm practices in these areas, acting as Examiner-in-Charge or examination team member for related supervisory events, conducting horizontal and coordinated reviews, and routinely interacting with internal and System-level colleagues, other regulators, and the firm’s senior management and staff. This is an exciting time to be a part of the SVBFG supervisory team as the firm transitions to a DFA EPS Category IV firm and becomes subject to heightened regulatory scrutiny.
This role is considered an internal rotational position of generally five years with the expectation that the applicant will remain in the role for a minimum of three years.
Job Responsibilities:
- Lead or contribute to the supervisory assessments of Information Technology and Information Security and use knowledge of relevant areas of the firm and results of supervisory reviews to draw sound conclusions and support overall ratings
- Develop and execute a strong risk-focused supervisory program for Information Technology and Information Security with the LFBO Management Group’s program requirements
- Define and conduct ongoing risk-focused supervisory activities, including leading routine meetings with SVBFG management to develop a deep and broad understanding of the firm’s Information Technology Architecture, Infrastructure and Operations; Business Continuity Management; and Information Security
- Develop creative approaches for evaluating coverage areas and related risk management practices relative to peer companies. Devise methods to efficiently incorporate internal and market-based surveillance data into the ongoing supervision process.
- Collaborate with other risk specialists on the team and California Department of Financial Protection and Innovation (DFPI) examiners to develop a comprehensive understanding of SVBFG’s operational and financial risks and the associated information technology controls
- Demonstrate agility and leadership through ability to cover other risk topics not specifically captured in areas of coverage, based on team need
- Build and maintain effective working relationships within the team, with peers, within FRBSF, the Federal Reserve System, with other regulatory agencies (especially the DFPI), and with the supervised firm
- Ensure high quality and timely completion of required supervisory work products and perform quality control to ensure compliance with local policies/procedures and System requirements
- Interpret regulatory guidance and evaluate the potential impact on the firm’s safety and soundness. Maintain an awareness of potential changes to key rules, laws and regulations, and supervisory policies as applicable to SVBFG.
Position Requirements:
- 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.
- Bachelor’s degree in business administration, computer science, or other related field is required; advanced degree and/or professional certifications (CISA or CIA) is preferred
- An active examiner commission from a federal or state banking supervisory agency or the relevant experience and training required for entry into Interim Examiner Commissioning Program for Large Financial Institution Supervision
- Typically requires seven or more years of direct supervisory or comparable banking, financial industry, or banking supervision experience in relevant activities, such as: information technology, information security, or internal audit
- Working knowledge of relevant supervisory standards on information technology is required. Experience with the Federal Reserve’s guidance on the Consolidated Supervision Framework for Large Financial Institutions and LFI rating (e.g. SR 12-17 & SR 19-3); the Uniform Rating System for Information Technology (e.g. SR 99-8); Assessment of Information Technology within a Risk Focused Framework (e.g. SR 98-9); IT Architecture, Infrastructure and Operations (e.g. SR 21-11), the Federal Financial Institutions Examination Council IT Handbook (e.g. SR 19-13), and Managing Outsourcing Risk (e.g. SR 13-19) preferred
- Strong written and verbal communication skills
- Advanced analytical skills and the ability to apply and explain complex regulatory concepts
- Experience evaluating controls critical to Information Technology, Cybersecurity, Information Security, and Vendor Management
- Capacity to pursue multiple initiatives at the same time and deliver successful outcomes
- Ability to travel at least 15 percent (additional travel up to 50% if located in Los Angeles or Salt Lake City); and,
- A consistent track record of performance in technical and behavioral competencies. Primary behavioral competencies to be evaluated include: Leadership, Emotional Intelligence, Critical Thinking, Accountability, Collaboration, Development, Influence, and Innovation.
Effective October 1, 2021, all employees must be fully vaccinated against COVID-19 or qualify for an accommodation from the Bank’s vaccination policy; the Bank will provide accommodations as required by law for individuals unable to be vaccinated due to medical condition or sincerely held religious belief.
The Federal Reserve Bank of San Francisco is an Equal Opportunity Employer.
