Virtual Currency Specialist (Financial Services Specialist 4 (Compliance), SG-27)

Description Duties Description 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. Duties The Department of Financial Services is seeking candidates for the position of Virtual Currency Specialist in the Banking Division. The Virtual Currency Specialist serves as a specialist in support of the Bank Examination Teams that will be reviewing bank Virtual Currency Related Activity (“VCRA”) and also contributes to reviewing bank VCRA written submissions. Duties include, but are not limited to, the following: Assists with the development of, and enhancements to, internal policies and procedures related to examining banks that engage in VCRA or have virtual currency (“VC”) exposures, such as examination materials and internal best-practice guides; Conducts trainings to familiarize bank examiners with key risks indicated by VCRA or VC exposure; Conducts risk evaluations of bank VCRA written submissions; Provides advice to Bank Examination Teams on VC matters as a subject matter expert; Provides advice to the Bank Examination Teams on VC matters as a subject matter expert; Communicates with and presents to senior management, both orally and in written memoranda and presentations, analyzes issues and/or recommends DFS actions on any issues encountered with the above; Supports supervision and examination of banks engaged in VCRA for compliance with relevant laws, regulations, guidance, and supervisory expectations; Conducts research and prepares comprehensive reports, memos, letters, and guidance documents, etc. for internal and external stakeholders; Remains up to date on best practices and laws and regulations of financial institutions, including with respect to VC, blockchain monitoring/analytics, transaction sampling and monitoring model validation and sanctions screening systems; May supervise lower-level staff; and Other appropriate and occupationally related duties as assigned; Travel may be up to 25%. Preferred Qualifications Minimum Qualifications Experience In Two Or More Of The Following Virtual currency Bank Secrecy Act/Anti-money Laundering (BSA/AML), Office of Foreign Assets Control (OFAC), and related New York Banking laws, regulations, and best practices. Cybersecurity laws, regulations, and issues. Governance and internal controls. Blockchain analytics software. Appointment Method Candidates must meet the minimum qualifications listed below in order to be eligible for appointment. Non-Competitive: Nine (9) years of specialized experience in one (1) or more of the following of which two (2) year of the experience must have been 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. Additional Comments Please note that a change in negotiating unit may affect your salary, insurance and other benefits. Salary: The starting salary for this position is $111,708 with periodic increases up to $137,590 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 $4,150 annual downstate adjustment. Appointment Status: Permanent