Vice President, Head of Technology – Office of Employee Benefits; Federal Reserve System recruitment
Organization Overview
The Office of Employee Benefits (OEB), established in 1934 to administer the Federal Reserve System Retirement Plan, oversees the benefits programs throughout the Federal Reserve System. The OEB serves human resources management and staff at each Federal Reserve Bank and the Board of Governors, as well as approximately 40,000 active and retired members of the System benefits plans.
Over time, the OEB's responsibilities have expanded and now include:
- the Thrift Plan,
- health benefits,
- long-term disability,
- personal accident insurance,
- business travel accident insurance,
- group universal life insurance,
- long term care,
- group legal,
- auto and homeowners insurance, and
- life and survivor income insurance plans.
The OEB works with senior Federal Reserve Bank management and human resources professionals on an ongoing basis to review existing benefits and to analyze emerging trends and new benefits opportunities.
Oversight and Governance
In cooperation with the OEB's Executive Director and Officers, oversight of the OEB is the responsibility of three committees comprised of senior officers from the Board of Governors and the Federal Reserve Banks:
- The Committee on Employee Benefits,
- The Committee on Investment Performance, and
- The Committee on Plan Administration.
Position Overview
This senior level position, reporting directly to the Executive Director, will establish a core technology function within the Office of Employee Benefits (OEB), charged with developing an overarching technology strategy for the effective delivery of services by OEB and its vendors to the Federal Reserve System (FRS) community, and with overseeing / monitoring execution of that strategy. This function would be the primary OEB interface with the FRS technology and related communities, and for the coordination of core services such as server management, desktop support and technical support to the Office's communications programs. It would work closely with the Compliance function to assure an effective program for review and audit of OEB and vendor technology systems and practices. It would coordinate vendor oversight with the 2 respective operating areas to assure technology issues were addressed effectively in the overall vendor management program.
The effective and responsible use of technology has become an integral component of the delivery of the products and services provided by the Office of Employee Benefits and its vendor network. Effective delivery to participants of the financial, insurance and counseling products and services managed by the Office increasingly requires robust and accessible web-based tools. The volume and sensitivity of participant personal information utilized in program administration and delivery requires constant attention to utilizing effective technologies and practices to protect data from unwarranted access and use, in an environment where the techniques for data theft and piracy are advancing rapidly. The technological systems supporting the Office need to be meshed with an evolving technology environment within the FRS, an evolution that is driven principally by the System's core mission as a central bank and financial regulator rather than by delivery of the type of services managed by the Office.
The successful candidate would lead the function and need to possess:
- An up-to-date understanding of the service delivery and data management challenges posed by OEB's core business of providing financial products and services to a defined consumer audience
- A strategic focus upon the evolving business and technological challenges and solutions that might influence OEB's customer service and data management environment
- Sound technical knowledge, particularly of the evolving web service delivery and data protection / intrusion environment
- Ability to communicate with both the technical and management community,
- Ability to work on a collegial basis with and tap the resources and knowledge of OEB, System and vendor colleagues.
- The level of support staffing required has not been determined. OEB currently has three positions (one vacant) dedicated to technology support, and initially these would be retained as the new senior technology officer formulated a structure with OEB management and the CPA.
Responsibilities
The successful candidate will:
- Develop an overarching technology and data management strategy for the effective and responsible delivery of services by OEB and its vendors to FRS benefit plan participants
- Oversee and monitor execution of that strategy, primarily through effective utilization of non-OEB Federal Reserve and external vendor resources
- Assure all data and technology operations supporting OEB activities, including those of external vendors incorporate best practices for protection of data and individual privacy
- Provide an excellent technology user experience for OEB-managed benefits programs
- Assure effective technology support to OEB in-house operations
- Oversee the technology and data management activities of OEB vendors
- Coordinate with other Federal Reserve entities involved with technology support
- Develop and maintain an annual IT Strategy that aligns OEB with overall FRS goals and objectives. This includes working collaboratively with System, external and OEB resources responsible for understanding and evaluating new technologies, solutions, and methodologies; and shaping strategies for adoption by OEB with particular focus on application development
- Help other OEB leaders convert strategic direction into implementation plans, including governance, change management, end-to-end delivery, resource management, sourcing strategies, and metrics
- Participate in major decisions around architecture and IT solutions to meet business needs, ensuring alignment with IT strategies
- Identify opportunities to improve the effectiveness of the OEB technology utilization; and develop the appropriate business case for investment
- Align IT Risk Management with the overall goals and risk profile of OEB and the FRS
- Lead development of OEB technology policies in support of the IT Strategic Plan and IT Risk Management. Policies may include technologies, tools, development methodologies, vendor management, financial planning and reporting, and end-to-end controls
- Promote collaboration with business areas to ensure that strategic technology efforts are coordinated and that strong IT governance is implemented across the Office
Skills
Qualifications
- Master's degree in business or IT-related field, and at least 10 years of work experience in the delivery of technology services
- Significant experience optimizing a service delivery function that is heavily dependent on technology, assessing the performance/value of services and establishing performance metrics
- Excellent management skills and leadership abilities, with a proven record of product and service delivery, strategic planning, effecting change, building and managing strong technology teams, and resource management
- Demonstrated track record of innovation and driving business and technology strategy in light of changing technologies, shifting client needs, and changing economic and market conditions
- Ability to interact with complex IT disciplines, such as program management, solutions engineering, or IT infrastructure highly preferred
- High-level understanding of capabilities and limitations of a wide range of technologies, platforms, architecture, methodologies; well-versed in current and emerging technologies
- Highly collaborative working style, strong interpersonal capabilities and relationship building; proven ability to manage diverse client and stakeholder relationships, and to collaborate effectively with customers and colleagues
- Significant experience and proficiency managing external vendors (both internal partners and external vendors);
- Exceptional analytical and problem-solving skills
- Excellent influence and negotiation skills; ability to facilitate discussions around complex issues and bring them to resolution