Risk Specialist – Technology Service Provider Supervision
Federal Reserve Bank of San Francisco
Location: San Francisco, California
Type: Full Time
4 Year Degree
Internal Number: R-0000014257
While the SF Fed is a Reserve Bank, we’re not what you might expect. We’re unreserved here. That means we seek new and diverse perspectives. We spark conversations and encourage debate. We build opportunity. We pursue careers that are true to ourselves. We are looking for people who want to help our country reach its full economic potential. When you join the SF Fed, you join a team of people working together to promote an inclusive economy that works for everyone.
The Supervision + Credit group is responsible for the supervision and regulation of state member banks, bank holding companies, savings and loan holding companies, financial holding companies, service providers, trust companies, and foreign banking organizations that operate in the Twelfth District. Supervised institutions are in all states of the District and range in size and complexity from small community organizations to some of the largest banking organizations in the country.
Under the authority provided in the Bank Service Company Act, the Federal Banking Agencies (FBAs) jointly supervise technology services provided to financial institutions by certain third-party service providers. These services may include payment processing, internet and/or mobile banking services, and cloud infrastructure, among others. The Service Provider Program includes service providers that are deemed particularly systemically important (i.e., Significant Service Providers, or SSPs) and the ones that are deemed to have lower but still material impact on the banking sector (Regional Service Providers, or RSPs).
Are you a risk specialist who would be comfortable being the main point of contact and working with a broad range of audiences while developing your expertise in areas of IT and Cybersecurity? If yes, we’d love to hear from you! Read on for full details!
The Federal Reserve Bank of San Francisco (SF Fed) is seeking a Risk Specialist to join our Service Provider Team, which supervises service providers in the Federal Reserve’s Twelfth District.
Under the oversight of the Service Provider Team AVP, you will support administration of the Twelfth District’s RSP portfolio, including ensuring ongoing compliance with the Board of Governors’ (Board) expectations and the Service Providers Procedures Manual, participating in the interagency RSP supervisory activities, identifying candidates for inclusion in the RSP portfolio, and conducting annual RSP portfolio revalidation. Supervisory activities may involve onsite and offsite examinations and ongoing monitoring conducted through meetings with companies’ management and review of management reports and third-party assessments.
You will interact closely with counterparts at other Reserve Banks and FBAs that share responsibilities for RSP supervision and will also contribute to the SF Fed’s broader priorities and strategy.
The level of work is considered intermediate. You should be able to follow directions, evaluate available data sources and collaborate with cross-functional colleagues to develop supportable recommendations, analyses, and proposals for review by the Service Provider Team AVP.
What You’ll Do
Serve as the primary contact for the Twelfth District’s RSP portfolio
Support compliance with the Board expectations for Reserve Banks, Twelfth District’s Service Providers Operational Procedures Manual, and the FBAs’ Administrative Guidelines.
Draft the annual revalidation of the RSP portfolio.
Collaborate with the interagency examiners to develop and execute supervisory strategies for the RSPs.
Participate in vetting of RSP supervisory strategies and examination findings with SF Fed and FBA colleagues.
Identify companies that could be considered for inclusion in the RSP program. Prepare business cases and scopes for discovery reviews of such companies’ technology-based products and services provided to financial institutions. At the conclusion of discovery reviews, draft proposed supervisory strategy going forward.
Demonstrate leadership, collaboration, and influencing skills, building, and maintaining effective working relationships within the interagency and Federal Reserve colleagues and with the supervised firms.
Develop expertise in the IT and cybersecurity risk area
Participate in IT examinations at service providers or banking organizations to develop horizontal perspective and expand technical knowledge.
Pursue certifications related to IT and cybersecurity risk management, e.g., CISA.
III. Contribute to SF Fed’s Priorities
Contribute to other projects or activities as assigned by the Service Provider Team AVP.
What We're Looking For
Bachelor’s degree required.
Typically five or more years of examination or internal audit experience is required.
Ability to read, interpret, and apply supervisory guidance and industry standards.
Independent thinking abilities as well as excellent analytical, written, and oral communication skills.
Ability to synthesize and present arguments, distill complex information into a summary.
Ability to multi-task, manage expectations in a matrix reporting environment, and deliver successful outcomes.
A consistent track record of performance in core behavioral competencies, including Collaboration, Influence, Emotional Intelligence, Accountability, Leadership, Achievement, Development, Critical Thinking, and Innovation.
Proficiency in PC software products including Word, Excel, and PowerPoint.
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.
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.
Our terrific benefits package includes:
Medical, Dental, Vision, Pretax Flexible Spending Account, Paid Family Leave Care, Backup Child Care Program, Pretax Day Care Flexible Spending Account, Vacation Days, Sick Days, Paid Holiday’s, Pet Insurance, Matching 401(k), and an unheard-of Retirement / Pension.
We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment.
At the SF Fed, we believe in the diversity of our people, ideas, and experiences and are committed to building an inclusive culture that is representative of the communities we serve. The SF Fed is an Equal Opportunity Employer.
While the SF Fed is a Reserve Bank, we’re not what you might expect. We’re unreserved here. That means we seek new and diverse perspectives. We spark conversations and encourage debate. We build opportunity. We pursue careers that are true to ourselves, from economists and cash processors to bank supervisors and cloud engineers. When you join the SF Fed, you join a team of people working together to promote an inclusive economy that works for everyone. If that’s the kind of impact you’d like to make with your everyday work, find your next career opportunity here.