Review Vacancy
AgencyFinancial Services, Department of
TitleVirtual Currency Analyst (Financial Services Specialist 1 (Compliance), SG18)
Occupational CategoryFinancial, Accounting, Auditing
Bargaining UnitPS&T - Professional, Scientific, and Technical (PEF)
Salary RangeFrom $65001 to $82656 Annually
Minimum Qualifications Candidates must meet the minimum qualifications listed below in order to be eligible for appointment.
Non-Competitive: A Bachelor’s Degree in Accounting, Actuarial Science, Auditing, Business, Business Administration, Business and Technology, Commerce, Consumer Sciences, Computer Science, Criminal Justice, Economics, Econometrics, Finance, Information Systems, Information System Engineering, Internal Controls, Health, Health Administration, Law, Mathematics, Public Administration, Public Affairs, Public Health, or Public Policy and two (2) years of specialized experience in one 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.
A Master’s Degree in one (1) of the related fields or a J.D. may substitute for one (1) year of specialized experience. A Ph.D. in one (1) of the related fields may substitute for two (2) years of specialized experience.
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.
The Department of Financial Services is seeking candidates for the position of Virtual Currency Analyst in the Virtual
Currency or Limited Purpose Trust Unit within the Research & Innovation Division. The Virtual Currency Analyst serves as a
specialist for the regulated Virtual Currency entities, including companies holding licenses or charters enabling them to
engage in virtual currency business activities. Travel may be required within and outside New York State.
Duties include, but are not limited to, the following:
• Supports the supervision and examination of BitLicensees and/or Limited Purpose Trust Charters, for compliance
with relevant laws, regulations, guidance, and supervisory expectations;
• Reviews prior examination reports, and periodic reports submitted by institution(s) to become informed of specific
problem areas, overall financial condition, management of institution(s) and to plan examination;
• Prepares comprehensive summaries of reviews done in support of applications, supervision and examination
materials for management;
• Discusses findings with senior staff and revises reports as needed;
• Maintains all institution files in shared records locations and ensures senior staff have access to relevant information;
• Supports the build-out of or enhancements to internal policies and procedures related to applications, supervision,
and examination processes;
• Remains up-to-date on best practices in the examination of financial institutions, including those that deal with Virtual
Currency, including skills involving blockchain monitoring and blockchain analytics; transaction sampling for purposes
including the validation of transaction monitoring and sanctions screening systems; the verification of claimed Virtual
Currency holdings; validation of stablecoin backing assets; auditing of the self-certification of coin listings by
regulated companies; and observation of the application of anti-fraud and market-manipulation policies and
procedures;
• As needed, reviews and processes applications for Bitlicesenses and/or Limited Purpose Trust Charters and
participates in the oversight of regulated entities, including applications to adopt material changes of business;
• Communicates with and presents to senior management, both orally and in written memoranda and presentations,
analyzes issues and/or recommends DFS action on any issues encountered in connection with the above; and
• Supports new initiatives around policy supervision and internal processes
Preferred Qualifications
Experience in one or more of the following are not required but are helpful:
• Virtual currency.
• Bank Secrecy Act/Anti-money Laundering (BSA/AML), Office of Foreign Assets Control (OFAC), and related laws,
regulations, and best practices.
• Cybersecurity laws, regulations, and issues.
• Internal controls / governance.
• Financial analysis.
• Accounting.
• The use of blockchain analytics software.
Additional Comments 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 $3,400 annual downstate adjustment.
Appointment to this position is pending Governor Appointment’s Office and Division of Budget approval.
Some positions may require additional credentials or a background check to verify your identity.
Email Address NCE.Notifications@dfs.ny.gov
Address
Street One Commerce Plaza Suite 301
Notes on ApplyingTo Apply: Interested qualified candidates must submit a resume and letter of interest no later than April 30, 2024 to the
email address listed below. Please include the Vacancy ID in the subject line of your email to ensure
receipt of your application.
Email submissions are preferred.
Nathan Keiper
Vacancy ID
New York State Department of Financial Services
Office of Human Resources Management
One Commerce Plaza, Suite 301
Albany, NY 12257
Email: NCE.Notifications@dfs.ny.gov
Fax: (518) 402-5071
All candidates that apply may not be scheduled for an interview.
Public Service Loan Forgiveness
Employment with New York State qualifies an individual for Public Service Loan Forgiveness (PSLF). This program forgives
the remaining balance on any Direct Student Loans after you have made 120 qualifying monthly payments while working fulltime for a U.S. federal, state, local, or tribal government or not-for-profit organization. To learn more about the program and
whether you would qualify, please visit: https://studentaid.gov/manage-loans/forgiveness-cancellation/public-service
AMERICANS WITH DISABILITIES ACT: REASONABLE ACCOMMODATIONS
Under the Americans with Disabilities Act (ADA), the Department of Financial Services is required to provide reasonable
accommodation for known physical or mental limitations of an otherwise qualified applicant with a disability if an
accommodation would enable the applicant to perform the essential functions of the job. If the accommodation would constitute
an undue hardship on the operations of the agency, the agency is not required to provide it.
All people with disabilities are encouraged to apply to all jobs for which they meet the minimum qualifications.
Pursuant to Executive Order 161, no State entity, as defined by the Executive Order, is permitted to ask, or mandate,
in any form, that an applicant for employment provide his or her current compensation, or any prior compensation
history, until such time as the applicant is extended a conditional offer of employment with compensation. If such
information has been requested from you before such time, please contact the Office of Employee Relations at (518)
473-3130 or via email at response@oer.ny.gov.