Associate Attorney Financial Services, M-3

About the role

The New York State Department of Financial Services seeks to build an equitable, transparent, and resilient financial system that benefits individuals and supports business. Through engagement, data-driven regulation and policy, and operational excellence, the Department and its employees are responsible for empowering consumers and protecting them from financial harm; ensuring the health of the entities we regulate; driving economic growth in New York through responsible innovation; and preserving the stability of the global financial system.

The Department of Financial Services is seeking candidates for the position of Associate Attorney Financial Services in Virtual Currency. Applications staff in the Virtual Currency Unit within the Research and Innovation Division perform tasks with increasing complexity and levels of responsibility.

Responsibilities

• Follows the risk-based approach in reviewing and evaluating application submissions including business risks and strategic plans, financial data, policies and procedures.
• Exercises analytical skills and independent judgment expected at the experienced level and escalates challenges, hurdles, or novel issues, as appropriate.
• Coordinates with internal and external stakeholders to facilitate application processing in an efficient and effective manner.
• Evaluates the quality and effectiveness of applicants’ compliance risk management practices and determines compliance with relevant anti-money laundering (AML) laws and regulations, such as the Bank Secrecy Act (BSA), as amended to include certain provisions of Title III of the USA PATRIOT Act, and the requirements of the Office of Foreign Assets Control (OFAC) and other CTF regulations.
• Drafts deficiency letters with minimal oversight and responds to applicants’ questions.
• Recommends approval, withdrawal, or denial of applications.
• Prepares application related summaries, reports, and documents covering application processing activity.
• Makes policy or process recommendations on matters identified in the application review process.
• Demonstrates knowledge of Virtual Currency Business Activity and requirements under NYCRR Parts 200, 500, 504 and other relevant laws and regulations.
• Supports, mentors, trains, guides and coaches junior staff.
• Organizes application materials and work product as required by the Unit with little oversight.
• Prepares materials and presents applicants to management committee for approval decision.
• Manages a large workload efficiently.
• Performs other duties as assigned by management.

Requirements

• Admission to the New York State Bar and four years of legal experience subsequent to admission to the NYS Bar.
• Legal experience must be in one or more of the following fields: litigation or financial industry investigations; corporate law involving such actions as corporate mergers, dissolutions, stockholder meetings and other related corporate actions; commercial financial documentation and negotiation; bank regulatory experience; insurance regulatory and legislative experience; and prosecutorial experience gained in a city, state, or federal law enforcement or administrative agency that regularly conducts civil enforcement action in financial and commercial matters.
• A master’s degree in law with a concentration in Banking Law, Insurance Law, Financial Services Law, Corporate Law, or international legal studies may substitute for two years of experience.

Appointment to this position is pending Governor Appointment’s Office and Division of Budget approval.

Pay

The starting salary for this position is $115,283 with periodic increases up to $145,682. Positions located within the New York City metropolitan area, as well as Suffolk, Nassau, Rockland, and Westchester Counties, are also eligible to receive an additional $4,000 annual downstate adjustment.