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Federal Home Loan Bank of Boston IT Risk Manager in Boston, Massachusetts

IT Risk Manager

Location: Boston

Job Code: 389

# of openings: 1


The Federal Home Loan Bank of Boston is a leading provider of wholesale funding for housing and community finance in New England serving more than 420 financial institutions across the region. The Federal Home Loan Bank of Boston is committed to making New England a better place to live and do business, and our employees are integral to our success. As a cooperative, we are owned by more than 420 banks, credit unions, insurance companies, and community development financial institutions that access tens of billions of dollars of our reliable, wholesale funding each year. Our funds are a vital resource that helps our members succeed, provide families with safe, decent affordable housing, and generate economic development that creates jobs in communities throughout our region.

Our highly skilled team of 200 is diverse, innovative, collaborative, and passionate about the work we do. We seek other professionals excited to share their knowledge, talent, and passion for our mission to join our team. We offer opportunities for career development, robust benefits, and a work-life balance.

Position Summary

This role is responsible for assessing information technology (IT) related risk at the Bank and ensuring Bank Technology remains compliant with its policies and regulatory obligations. This is not a people manager role, there are no direct reports.

The IT Risk Manager will advise Bank Technology leadership and Bank senior management on potential risks within the Bank’s IT environment to safeguard Bank goals and strategies. The role will identify potential risks, devise proposed solutions, develop protocols, and train employees. The role will also help refine and maintain the Bank’s IT controls, standards, policies, and procedures according to industry best practices.

As a key member of the first line of defense, the IT Risk Manager will work collaboratively with the Bank’s Enterprise Risk Management team (second line) and Internal Audit (third line) and other risk management functions across the organization and champion effective day-to-day risk management practices, continuous improvement, and governance of the risk environment.

This role will have a hybrid work schedule in our Boston office in accordance with the Bank’s Hybrid Work Program. More time will be encouraged in the office to support onboarding initially.

Specific Responsibilities

· Author IT-related risk and compliance management strategy for the Bank consistent with relevant, industry best practice.

· Based on that strategy, propose, develop, and participate in IT risk mitigation efforts at the Bank.

· Partnering across the IT department, enhance and maintain IT-related risk metrics covering the full spectrum of IT-related risk, including operational, third-party, cyber, change management, governance, financial, and organizational risks.

· Implement and monitor the development of management dashboard reporting of IT-related risk metrics.

· In coordination with the Bank’s Enterprise Risk Management group, orchestrate IT’s role in the Bank’s risk and control self-assessment process.

· Coordinate, maintain, and enhance IT controls.

· Be the Bank’s subject matter expert on IT-related compliance obligations.

· Orchestrate IT policy workflows and lifecycle.

· Liaison between IT team and internal auditors, external auditors, and the Bank’s regulator, the Federal Housing Finance Agency (FHFA).

· Facilitate SOX compliance workflows for the IT department.

· Track compliance and regulatory remediation efforts.

· Other duties, as assigned.



· Degree in a STEM field of study and/or work experience in IT and IT-related risk management.

· Risk management related or ITIL certifications are a plus, but not required.


· 5+ years working in IT or risk management related role.


· Proven ability to apply both quantitative and qualitative analysis to complex IT risk-related problems.

· Proven ability to identify longer term objectives and develop plans to achieve those objectives.

· Understanding of control frameworks (e.g., COBIT, COSO) and Sarbanes-Oxley compliance in an information technology/security environment.

· Experience with the CIS and NIST security frameworks.

· Excellent written and verbal communication skills, including presentation skills to various audiences.

· Pro-active, detail oriented, quality conscious individual with ability to solve problems and drive compliance issues to conclusion.

· Confident building cordial, collaborative, and effective relationships with employees, consultants, vendors, and other entities and agencies within and outside the Federal Home Loan Bank system.

· Ability to manage multiple projects at the same time and possess strong organizational skills.

· A team player and a self-starter with the ability to work with minimal supervision.

· Analytical and proficient in structured root cause analysis.

· A working knowledge or overall understanding of banking and finance desired.

The Federal Home Loan Bank of Boston is committed to building and sustaining a diverse workforce that reflects the communities that we serve. As an Equal Opportunity Employer, we strongly encourage applicants from every ethnicity, color, religion, gender, age, national origin, disability, veteran or parental status and sexual orientation.

Nothing in this job description restricts management's right to assign or reassign duties and responsibilities to this job at any time.