IT/Cybersecurity/Fintech Manager

An Official website of the Commonwealth of Massachusetts

ALERT

Effective January 25, 2024, Executive Order #627 cements the Commonwealth's well-established practice of skills-based hiring, paving the way to a more equitable hiring process. The Commonwealth is committed to ensuring a diverse and inclusive workplace where all employees feel respected, valued, and empowered to serve our citizens. Join us today!

Job Description

Description

The Division of Banks is currently accepting applications for the position of IT/Cybersecurity/FinTech Manager. This role will be responsible for overseeing a team of examiners who conduct IT and Cybersecurity examinations of Massachusetts state-chartered banks and credit unions as well as non-depository licensees.

About the Division:

As an employee of the Division of Banks, you will contribute to the mission of the Division of Banks by ensuring a sound, competitive, and accessible financial services environment throughout the Commonwealth. The Division maintains public confidence in Massachusetts financial institutions through the oversight of state-chartered banks and credit unions as well as non-depository-licensees doing business in Massachusetts. We are a consumer protection agency, and we support financial literacy education and programs benefiting residents across the Commonwealth. The majority of the Division's employees are Examiners who conduct a variety of on-site and off-site examinations of financial institutions and licensed entities under the Division's jurisdiction.

At the Division of Banks, every employee’s ideas and experiences are welcomed. We value and respect that each individual brings different skills and perspectives that uniquely contribute to our agency and the work that we do. It is important that each employee feel empowered to contribute as this allows for more effective collaboration and better results. Within our workplace community, we offer a variety of training and mentoring to create and maintain learning environments that are inclusive, equitable, and welcoming.

As an IT/Cybersecurity/FinTech Manager, you can expect to:

• Manage the supervisory activities associated with information technology (IT) risks and cyber preparedness at all regulated entities as well as some third-party service providers.
• Assist with the assessment of technology risk at financial institutions by analyzing the information security program and risk management practices to ensure practices mitigate industry risk.
• Maintain awareness of trends within financial technology (fintech) and cybersecurity.
• Conduct classroom and on-the-job training as needed for field examination staff.
• Support the Division’s engagement with the emerging fintech industry and participate in other state initiatives to foster and encourage technological innovation within the Commonwealth.

Consider joining our management team if you:

• Are interested in a public position and are enthusiastic about serving the public good through the supervision and regulation of the banking, credit union, or financial services industries.
• Have experience leading audits or IT/Risk Management examinations and overseeing the work of IT/Cyber examiners.
• Are familiar with or experienced in information technology, cybersecurity, cybersecurity frameworks, or fintech in a financial services or government environment.
• Have an interest in researching and staying current on cyber events as well as conducting cybersecurity trainings and presentations.

Preferred Qualifications:

We encourage individuals who believe they have the skills necessary to thrive to apply for this role, even if you don’t meet 100% of the job qualifications.

• Experience in information technology, cybersecurity, auditing, consulting, policy, international relations, payments systems, vendor management, geopolitical cybersecurity, law enforcement, project management; preference for supervisory and/or regulatory experience.
• Knowledge of and experience with cybersecurity tools and frameworks (e.g., FFIEC Cybersecurity Assessment Tool, the National Institute of Standards and Technology Cybersecurity Framework, the Financial Services Sector Coordinating Council Cybersecurity Profile, and the Center for Internet Security Controls).
• Knowledge of information security laws and regulations and interpretations; fintech-related issues and developments; knowledge of state and federal banking statutes and regulations; and/or IT examination programs and principles of IT risk management.
• Strong analytical skills coupled with excellent writing skills, the independence and ability to manage multiple activities and projects simultaneously, and the ability to interact with all levels of Division staff as well as management of regulated entities.
• Willing and able to travel throughout the Commonwealth of Massachusetts and travel out-of-state with some overnight stay (dependable way to travel to multiple sites around Massachusetts is required; driver’s license and access to a vehicle are recommended).

Work/Life Balance:

• Hybrid Position: Managers have the opportunity to work from home but also are periodically required to be on site at a regulated institution, or one of our four regional offices (Boston, Lakeville, Woburn, or Springfield). Some out of state travel may be required.
• Flexible Schedule: Managers have various options for: start and end times; and every other Friday off.

Salary placement is determined by years of experience and education directly related to the position and the Human Resources Division’s recruiting guidelines.

Primary Duties:

• Supervise IT examinations of state-chartered banks, credit unions, and licensed entities conducted by field examiners to ensure complex institutions receive the highest level of expertise and oversight. Regulatory supervision includes the examination of all IT components, cyber preparedness, and the risks posed by any fintech engagements.
• Coordinate and oversee examinations of third-party service providers, often jointly with other state and federal regulators. Report to the IT Director on matters representing a significant existing regulatory problem or potential problem with a particular entity and participate in final decisions regarding regulatory action. Participate with IT Director, Regional Field Managers, and Field Operations Manager on the development and prioritization of examination schedule.
• Supervise the IT examination field staff in the performance of examinations and completion of exam reports of regulated entities. Provide support, guidance, and training to field examination staff during the examination process to ensure adequacy of the process and the accuracy of reports. Support field staff by attending exit meetings with regulated entities to provide explanations and answer questions.
• Ensure that direct reports (Bank Examiners I-IV) receive adequate oversight and training opportunities to perform/progress as regulatory supervisors and monitor progress through a set training curriculum.

The filling of this position is subject to appropriation and obtainment of all necessary approvals from the Office of Consumer Affairs and Business Regulation and the Executive Office for Administration and Finance. The Division reserves the right not to fill this position without notice. The position will report to the IT Director within the IT/Cyber/FinTech Unit.

Qualifications

MINIMUM ENTRANCE REQUIREMENTS:

Applicants must have at least (A) five (5) years of full-time or, equivalent part-time, professional, administrative, supervisory, or managerial experience in financial management work (i.e. budgeting, accounting, auditing, management analysis, program evaluation, financial reporting of program results), of which (B) at least one (1) year must have been in a project management, supervisory or managerial capacity or (C) any equivalent combination of the required experience and substitutions below.

I. A certificate in a relevant or related field may be substituted for one (1) year of the required (A) experience.

II. A Bachelor's degree in a related field may be substituted for two (2) years of the required (A) experience.

III. A Graduate degree or higher in a related field may be substituted for three (3) years of the required (A) experience.

IV. A Doctorate degree in a related field may be substituted for four (4) years of the required (A) experience.

When you embark on a career with the Commonwealth, you are offered an outstanding suite of employee benefits that add to the overall value of your compensation package. We take pride in providing a work experience that supports you, your loved ones, and your future.

An Equal Opportunity / Affirmative Action Employer. Females, minorities, veterans, and persons with disabilities are strongly encouraged to apply.

The Commonwealth is an Equal Opportunity Employer and does not discriminate on the basis of race, religion, color, sex, gender identity or expression, sexual orientation, age, disability, national origin, veteran status, or any other basis covered by appropriate law. Research suggests that qualified women, Black, Indigenous, and Persons of Color (BIPOC) may self-select out of opportunities if they don't meet 100% of the job requirements. We encourage individuals who believe they have the skills necessary to thrive to apply for this role.

Official Title: Fiscal Officer VI

Primary Location

United States-Massachusetts-Boston - 1000 Washington St

Job

Accounting and Finance

Agency

Division of Banks

Schedule

Full-time

Shift

Day

Job Posting

Oct 23, 2024, 7:03:42 PM

Number of Openings

1

Salary

If you have Diversity, Affirmative Action or Equal Employment Opportunity questions or need a Reasonable Accommodation, please contact Diversity Officer / ADA Coordinator: Jennifer DeWitt - 6179561549.

Bargaining Unit: M99-Managers (EXE)

Confidential: No

Potentially Eligible for a Hybrid Work Schedule: Yes