Financial Services Specialist 2 (Compliance), SG-23

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.

Responsibilities

• Manages a varied applications caseload, including intake and tracking of de novo, change of control, and other applications for LFS-supervised entities.
• Conducts analyses of application submissions and makes sound recommendations to other LFS Applications staff.
• Assists with the preparation of application reports and related tasks.
• Supports LFS Applications staff in carrying out licensing reviews and making presentations to executive management and external parties.
• Assists the LFS Applications supervisor on various organizational projects.
• Interacts with staff in other business units and executive management on case-specific issues.
• Participates in meetings with licensees and advises on relevant matters.
• Conducts research on application cases using internal and external sources and makes presentations to the LFS Applications unit head.
• Stays informed on industry best practices and evolving trends.
• Communicates effectively with senior and executive management, both internally within the Department and externally with regulated entities, through verbal briefings, written memoranda, reports, and formal presentations.
• Follows documented procedures and completes work programs in accordance with Departmental guidance and regulatory standards.
• Completes all other duties as assigned.

Requirements

• At least three years of experience processing depository or non-depository applications.
• Experience in compliance review or willingness to take compliance training upon acceptance of the position.
• Experience in handling projects independently, managing multiple assignments and competing deadlines.
• Strong analytical and organizational skills.
• Ability to work in a high-volume environment and meet targeted deadlines.
• Demonstrated ability to draft well-structured and concise memoranda and other formal documentation for both internal and external audiences.
• Knowledge of NY Banking Laws and Superintendent’s Regulations as it pertains to money transmitters, sales finance companies, licensed lenders, check cashers, budget planners, and insurance premium finance agencies.
• Experience using the Nationwide Multistate Licensing System and LINX.
• Excellent interpersonal and communication skills, with experience engaging with executive leadership, peers, and cross-functional teams.

Qualifications

Candidates must meet the minimum qualifications listed below in order to be eligible for appointment.

Non-Competitive: Seven (7) years of specialized experience in one (1) or more of the following:

• Evaluating the adequacy of board and management oversight of the financial institutions' compliance programs.
• Reviewing lending, deposit, insurance and other transactions to determine compliance with Financial Service’s applicable laws/regulations.
• Identifying financial institutions' potentially unfair, deceptive, abusive or discriminatory acts or practices.
• Reviewing financial institution programs, policies and procedures for compliance with legal and regulatory requirements.
• Evaluating financial costs for the failure of financial services entities to adhere or comply with New York State, federal, or other states financial services laws.

An associate degree may substitute for two years of specialized experience; bachelor's degree may substitute for four years of specialized experience; master's degree may substitute for five years of specialized experience; J.D. may substitute for six years of specialized experience; Ph.D. may substitute for seven years of specialized experience.

Pay

The starting salary for this position is $86,681 with periodic increases up to $109,650. 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.