After two and a half years, James Barry is hiring again. To deal with new, stringent regulatory requirements in the financial sector, the CIO at OneUnited Bank in Boston has about $250,000 budgeted this year to increase his 15-person staff by two or three positions. "We are adding an assistant vice president of information technology an operations -manager and a documentation specialist," Barry says. "The documentation specialist is the hot one. With all of the new and emerging regulatory requirements, we are finding that we need to spend more time putting pen to paper to describe the internal controls and safeguards that we have in place."
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