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Chief Information Officer & Senior Vice President

Federal Reserve Bank of Boston

Federal Reserve Bank of Boston

Boston, MA, USA
Posted on Tuesday, August 29, 2023

Company

Federal Reserve Bank of BostonThe Federal Reserve Bank of Boston is one of the 12 Federal Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. We (the ‘Boston Fed’; the ‘Bank’) serve the First Federal Reserve District, which includes the six New England states: Connecticut (excluding Fairfax County), Massachusetts, Maine, New Hampshire, Rhode Island, and Vermont.


With the overarching vision of a vibrant economy that works for all, the Boston Fed promotes sound growth and financial stability in our region and the nation and helps to formulate and implement monetary policy. Our contributions to the First District and the nation are founded on high-quality research and bank supervisory activities, excellence in supporting financial services and financial markets stability, leadership in payments innovation, and an active commitment to supporting economic well-being in communities.


The Boston Fed employs about 1300 people, based mostly in the First District, with an annual budget in 2023 of greater than $400 million. We are proud of our strong organizational culture, built on our four core values: diversity and inclusion, innovation, integrity, and leadership. We build institutional expertise and flexibility by identifying, engaging, and developing a highly trained and diverse workforce. Our inclusive work environment respects and fully values our staff’s individual strengths, including their different backgrounds, personalities, and thought processes.

Residency in the First District within commuting distance of the office to manage a team with a frequent on-site presence.

The Senior Vice President, Chief Information Officer (CIO) leads the Bank’s Information Technology Division, which includes application development, data strategy, end user services, information security and the Bank’s national IT workforce. The CIO also coordinates with the FedNow program, a real-time gross payments settlement system, and the group conducting technological research on digital assets. Additionally, the CIO coordinates with the technical team in the Financial Support Office, which ensures the viability of critical national accounting services and supporting technology.

The CIO is expected to lead at the local Reserve Bank level and influence overall national direction. Specifically, the successful candidate will design, implement, and drive the delivery of the Bank’s technology strategy and services with an emphasis on digital transformation and innovation. They will also partner with the Federal Reserve System’s CIO and executive leadership team on information technology processes and participate as an expert and/or Bank representative on key Federal Reserve System committees.

The CIO contributes to furthering technology thinking, strategy, and execution across the Federal Reserve System to advance the goals of business lines as issues and needs cross organizational boundaries. The CIO also interacts with and works to influence the National IT function and overall System IT strategy particularly in the areas of cloud migration, data strategy, and artificial intelligence.

The ideal candidate will be expected to balance an enterprise view while executing on a strong leadership vision, demonstrating expert level strategic and analytical thinking, innovation with an appropriate level of risk management, excellent leadership acumen and extensive enterprise knowledge. As a member of the Reserve Bank’s Executive Committee, the CIO will also be expected to help drive and support the Bank’s mission, strategy, and policies.

The CIO will report to the Bank’s Chief Administrative Officer with a dotted line to the Federal Reserve System CIO.

KEY RESPONSIBILITIES

  • Be a technology advocate and advise Executive leadership, including the Reserve Bank President, on appropriate technology innovations and digital solutions that optimize productivity and improve organizational performance.

  • Establish and oversee the implementation of forward thinking, scalable technology and data solutions that enable and optimize the Bank’s and System’s ability to deliver on their core mission.

  • Ensure the Bank’s information, cyber, and technology security; analyze threats in real time; and proactively mitigate information risks.

  • Ensure that end users are supported with reliable tools and a level of customer service that enables our critical business operations.

  • Manage budgets and maintain cost effectiveness and service quality across the Information Technology Division.

  • Represent the Bank and demonstrate leadership and influence at the Federal Reserve System level by building relationships and collaborating on or leading efforts to develop, recommend and implement significant System initiatives.

  • Serve as a member of the Bank’s Executive Committee and help set the Bank’s broader vision, strategy, values, and priorities.

EXPECTATIONS AND REQUIREMENTS

  • Bachelor’s degree required with advanced degree in information technology, computer science, or a related field highly preferred.

  • Minimum of 15 years of professional experience required with at least 10 years of people management/leadership experience.

  • Background in software engineering and broad understanding of enterprise architecture.

  • Experience managing large, complex programs.

  • Experience in application development that leverages current technologies and practices.

  • Strong knowledge of cloud-based technology, RPA, and AI.

  • Familiarity with Enterprise Resource Planning systems such as Workday.

  • Knowledge of current information security practices.

  • Demonstrated ability to drive change, flexibly adapt to a rapidly evolving environment, and generate effective and innovative solutions to address emerging business issues.

  • Strong verbal and written communication skills that effectively reach all levels of the organization.

LEADERSHIP CAPABILITIES

  • Lead with a strategic, action-oriented mindset that is focused on performance, accountability, and outcomes.

  • Maneuver comfortably through complex policy, process, and people-related organizational and system dynamics.

  • Be a role model and serve as an active talent champion, coach, mentor, and connector.

  • Build trust and serve as a helpful and contributing colleague.

  • Champion an inclusive environment to support the System’s Diversity, Equity, and Inclusion objectives.

OTHER REQUIREMENTS

  • Eligibility for a top-secret-level security clearance which necessitates the candidate be a US Citizen.

  • Residency in the First Federal Reserve District within commuting distance of Boston to manage a team with a frequent on-site presence.

  • Willingness to travel as needed (approximately 15% of time or less).

The Bank provides comprehensive and highly competitive benefits.

The Federal Reserve Bank of Boston is committed to a diverse and inclusive workplace and to provide equal employment opportunities to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, or military service.

All employees assigned to this position will be subject to FBI fingerprint/ criminal background and Patriot Act/ Office of Foreign Assets Control (OFAC) watch lists at least once every five years.

The above statements are intended to describe the general nature and level of work required of this position. They are not intended to be an exhaustive list of all duties, responsibilities, or skills associated with this position or the personnel so classified. While this job description is intended to be an accurate reflection of this position, management reserves the right to revise this or any job description at its discretion at any time.

ETHICS CONSIDERATIONS AND PROHIBITED ACTIVITIES

It is indispensable to the proper functioning of, and the maintenance of public confidence in, the Federal Reserve, for the Bank and the System to function properly and maintain high public confidence. It is essential for every employee to perform their duties with honesty, integrity, and impartiality, without improper preferential treatment of any person or organization. Bank employees are subject to federal criminal statutes that prohibit financial conflicts of interest (e.g., an employee cannot work on any matter in which they or certain employee-affiliated parties have a financial interest). In addition, the Bank’s code of conduct generally prohibits activities such as:

  • Outside activities that are inconsistent with the employee’s duties and responsibilities, e.g., holding a position as a director of a publicly traded company.

  • Certain partisan political activities, such as fundraising or holding partisan elected office.

  • Holding digital assets and/or interests in digital native companies if position entails contributing to related initiatives or policies.

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

Yes

Job Category

Work Shift

First (United States of America)

The Federal Reserve Banks believe that diversity and inclusion among our employees is critical to our success as an organization, and we seek to recruit, develop and retain the most talented people from a diverse candidate pool. The Federal Reserve Banks are committed to equal employment opportunity for employees and job applicants in compliance with applicable law and to an environment where employees are valued for their differences.

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