The Division of Banks is currently accepting applications for the position of Information Technology Examiner I in the Cybersecurity / Information Technology / Fintech Examination unit.
The mission of the Division of Banks is to ensure 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 and the supervision and licensing of mortgage loan originators, the mortgage lending, brokering, servicing industries, and the money services business, sales finance, and debt collection industries operating in Massachusetts. 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.
About the Role:
You will be a good fit for the Information Technology Examiner I position if you have strong analytical skills and an interest in learning more about supervision and regulation of IT processes and technology in the Financial Services Industry. You will also need strong written communication and presentation skills as you prepare written reports and convey your findings to management of regulated institutions. You will also need an understanding of cybersecurity and the FinTech industry. You will learn to be an examiner through team-based examinations, colleague mentoring and on-the-job training combined with formal examination courses provided by the Federal Deposit Insurance Corporation (FDIC) as well as other regulatory partners.
The Information Technology Examiner I examines the records of depository financial institutions (banks and credit unions) and non-depository financial institutions (mortgage lenders, mortgage brokers, debt collectors, loan servicers, finance companies, foreign transmittal companies, check cashers, and check sellers) to ensure they adhere to sound practices and applicable laws, rules, and regulations. The Information Technology Examiner I requires an understanding of IT/cybersecurity oversight including: applicable laws and regulations, FFIEC IT/ cybersecurity guidance, and cybersecurity frameworks such as ISO 27001/27002, CIS Critical Security Controls, and the NIST Framework for Improving Critical Infrastructure Security. The Information Technology Examiner I participates in the examination process, compiles and analyzes documents, and prepares reports on findings.
The Division of Banks is proud to offer schedule flexibility. The Information Technology Examiner I role is a hybrid position and various schedule options are available. In addition to telework, intermittent on-site work is based on assignment and may include work onsite at a regulated institution or one of the Division’s four offices (Boston, Lakeville, Woburn, or Springfield). The position requires travel throughout the Commonwealth of Massachusetts and out-of-state on occasion, with some overnight stays, as well as trainings, conferences, or other events which may be located out-of-state. A valid driver’s license and access to an automobile are strongly recommended; Examiners are authorized to use personal automobiles for travel related to Commonwealth employment and are eligible for mileage reimbursement and a car allowance.
In addition to flexible work schedules and locations, Division employees are eligible for competitive Commonwealth of Massachusetts employee benefits which include generous leave policies, the Commonwealth’s State Employee’s Retirement Plan, and tuition remission at state colleges and universities. The Division also offers a progressive training program and paths for career advancement within the agency.
The Division of Banks is committed to ensuring a diverse and inclusive workplace where all employees feel respected, valued, and empowered to maximize their skills and talents to serve our citizens. The Division is committed to creating and sustaining a work culture that is welcoming, inclusive, and mutually respectful to all its employees regardless of race, color, age, creed, religion, national origin, ethnicity, sex, gender identity or expression, sexual orientation, genetic information, veteran or disability status. We strive to reflect diversity in all facets and levels of our agency. The IT/Cyber/FinTech Unit values inclusiveness and diversity within its examination and management teams. Within our community, we strive to create and maintain working and learning environments that are inclusive, equitable, and welcoming.
The position is a union position in the National Association of Government Employees (NAGE) Unit 6 and the salary is within Grade 10. The annual salary range for this position is $56,579.12 to $80,561.48. Salary (step) placement is based on relevant experience, and the Division usually starts qualified new hires with a salary of $65,736.06.
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. This position will report directly to the Director of Cybersecurity / Information Technology / Fintech.
Duties and Responsibilities: (these duties are a general summary and not all inclusive):
- Assist in the analysis of financial institutions by analyzing information technology documents and reports; reviewing policies and procedures; analyzing data collected in order to determine compliance with Interagency Standards Established for Safeguarding Customer Information; determining proper safeguards and internal controls; assessing compliance with applicable laws, rules and regulations; and conducting meetings with financial institution management.
- Assist in the analysis of non-depository financial institutions by analyzing information technology documents and reports: reviewing policies and procedures; analyzing data collected in order to determine compliance with Standards for the Protection of Personal Information of Residents of the Commonwealth (201 CMR 17); determining proper safeguards and internal controls; assessing compliance with applicable laws, rules and regulations; and conducting meetings with institution management.
- Assess technology risk at financial institutions by analyzing the information security program and information technology risk management practices to ensure practices mitigate industry risk.
- Assist in the preparation of sections of the Examination Report and detailed work papers in an accurate and timely manner. Confer with other state and federal agencies and audit/consulting firms as part of the examination process.
- Conduct or participate in formal exit meetings and presentations to the Board of Directors, including the preparation of agendas and handout materials.
- Act as an examiner-in-charge of Information Technology examinations by planning, organizing, and supervising examinations of less-complex financial institutions.
- Participate in formal and on-the-job training in order to develop and acquire the knowledge, skills, and abilities necessary to facilitate the examination process.
- Research or duties requested especially pertaining to Fintech activities such as cryptocurrency.
Preferred Knowledge, Skills, and Abilities:
- Experience or education in information technology, auditing, or consulting across any of the critical infrastructures, particularly financial institutions.
- Knowledge and experience with cybersecurity frameworks.
- Familiarity with information security and technology and/or financial services risk assessments or compliance
- Demonstrated commitment to valuing diversity and contributing to an inclusive working and learning environment.
First consideration will be given to those applicants that apply within the first 14 days.
Minimum Entrance Requirements:
Applicants must have (A) at least one year of full-time, or equivalent part-time, professional experience in accounting, auditing, or bank examining work, or (B) any equivalent combination of the required experience and the substitutions below.
Incumbents are required to travel throughout the Commonwealth of Massachusetts and travel out-of-state with some overnight stay.
I. A Bachelors or higher degree with a major in accounting, business administration, business management, banking, finance, economics, or related field may be substituted for the required experience.*
*Education toward such a degree will be prorated on the basis of the proportion of the requirements actually completed.
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.
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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.