Financial Services Specialist 4 (Compliance), SG-27

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.

Responsibilities

• Performs reviews of examination reports, with a focus on larger and/or complex community banks, to include ensuring the meaningfulness and the appropriate disposition of examiner findings; editing for grammar, clarity, word choice, tone and formatting; and confirming the accuracy of financial data presented;
• References and utilizes Salesforce, examination workpapers, existing supervisory actions, progress reports, and correspondence between the supervised institutions and the Department, in furtherance of reviewing and editing examination reports;
• Ensures that examination reports address compliance with applicable laws and regulations;
• Meets with team leaders, portfolio managers, and Examiners-in-Charge to discuss examination scope and conclusions, to ensure that findings are appropriately categorized by severity and are well supported, and to confirm that examination reports are complete and address all prior examination issues, and if applicable, the status of any supervisory actions;
• Assists with resolving any divergent views between team leaders and specialty teams;
• Maintains comprehensive notes and any supporting documentation arising from vetting meetings with team leaders, portfolio managers, and Examiners-in-Charge;
• Maintains working knowledge and understanding of all applicable laws, regulations, and industry guidance pertaining to areas examined by Community and Regional Banks, and provide training to junior team member in the Review Unit on such material;
• Performs reviews of division letters and memorandums, ensuring overall readability, appropriate messaging, sufficiency of supporting information, and accuracy of financial data presented;
• References and utilizes examination reports, internal communication, and correspondence between supervised institutions and the Department in furtherance of reviewing and editing division letters and memorandums;
• Guides and mentors junior team members in the Review Unit on the expectations and standards of the unit, providing regular feedback;
• Assists with supervising the review work of junior team members;
• Assists with maintaining the procedures of the Review Unit, including making recommendations for process enhancements;
• Maintains tracking reports for the work flowing through the Review Unit;
• Other duties as assigned.

Qualifications

• Nine (9) years of specialized experience in one (1) or more of the following, with at least two (2) years at a supervisory level:
  • 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 $111,708 with periodic increases up to $137,590.

Appointment Status: Permanent