Position Information

NY HELPNo

AgencyFinancial Services, Department of

TitleFinancial Crimes Blockchain Analytics Risk Associate (Financial Services Specialist 4 (Financial Crime Risk), SG-27)

Occupational CategoryOther Professional Careers

Salary Grade27

Bargaining UnitPS&T - Professional, Scientific, and Technical (PEF)

Salary RangeFrom $103784 to $127830 Annually

Employment Type Full-Time

Appointment Type Permanent

Jurisdictional Class Non-competitive Class

Travel Percentage 10%

Schedule

Workweek Mon-Fri

Hours Per Week 37.50

Workday

From 8 AM

To 6 PM

Flextime allowed? No

Mandatory overtime? No

Compressed workweek allowed? No

Telecommuting allowed? Yes

Location

County To Be Determined

Street Address 1 Commerce Plaza

1 State Street

City NYC/Albany

StateNY

Zip Code12257

Job Specifics

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 Financial Crimes Blockchain Analytics Risk Associate in the Virtual Currency Unit. Duties include, but are not limited to, the following:
• Evaluates illicit activity risk leveraging on-chain attribution and direct/indirect exposure associated with DFS-regulated virtual currency licensees through the use of blockchain analytics tools;
• Monitors and performs provenance tracing of on-chain transactions attributed to DFS applicant/licensee exposure to sanctioned jurisdictions/individuals/entities, terrorist financing, mixers or tumblers, darknet markets, scams/ransomware, CSAM, and other illicit activity;
• Maintains a solid understanding of existing and emerging blockchains, tokens, and technologies impacting the industry and identifies areas for enhancing the Virtual Currency Unit’s financial crimes monitoring processes related to the use of blockchain analytics and market surveillance tools;
• Actively monitors dashboards identifying data anomalies raising red flags for potential money laundering or sanctions violations, that require further investigation and/or escalation to management.
• Executes ad hoc investigations of identified suspicious activity to ensure licensees maintain compliance with state and federal regulations outside examination cycle and present findings to management;
• Proactively evaluates and monitors DFS regulated entities on-chain exposure to OFAC designations and FinCEN Section 9714 Orders and escalates findings to management;
• Conducts investigations on fraud alerts (i.e., insider trading/market manipulation) and provides written disposition of findings in support of VC Supervision. Escalates suspected incidents of insider trading in accordance with policy. Evaluates and recommends new use cases for fraud detection to management;
• Performs reviews on applicants seeking a DFS license/charter, identifying transaction monitoring on-chain deficiencies and communicating said deficiencies clearly and concisely in written reports to management as well as verbally in meetings with internal and external stakeholders as needed;
• Conducts blockchain analytics transaction testing of DFS-regulated virtual currency businesses as a part of on-site examination and licensing;
• Conducts wallet address verification reviews leveraging on-chain attribution to demonstrate appropriate backing of assets;
• Identifies contradictory attributions of on-chain transactions from blockchain analytics vendors and works with the vendor to resolve discrepancies;
• Serves as a subject matter expert on crypto related financial crime matters for all functions of the Virtual Currency Unit, including applications, examinations, and ad-hoc supervision including the consideration of material-change-of-business requests;
• Maintains a good understanding of the BSA/AML laws, regulations, guidance, and best practices, relevant to transaction monitoring, suspicious activity reporting, money laundering typologies and investigative techniques required to detect illicit activity within the virtual currency space;
• Assists management in the development, review and revision of Financial Crime related policies and procedures;
• Presents analyses and findings to colleagues and leadership at DFS, often making reasoned recommendations for agency action;
• May supervise lower-level staff; and
• Other appropriate and occupationally related duties as assigned.

Minimum Qualifications Preferred Qualifications

Subject matter expertise and/or experience in one or more of the following are not required, but are preferred:

• 1+ years direct experience working in the crypto industry utilizing blockchain analytics and OSINT tools
• Subject matter expertise in transaction monitoring including on-chain and off-chain alerts/investigations
• Solid knowledge of Bank Secrecy Act/Anti-Money Laundering (BSA/AML), Sanctions (OFAC), and related laws, regulations, guidance, and best practices;
• General Knowledge of Cybersecurity laws, regulations, and issues;
• Valid (non-expired) Certifications held:
o Blockchain analytics certification(s)
o Association of Certified Anti-Money Laundering Specialists: Certified Anti-Money Laundering Specialist, Advanced AML Audit Certification, Advanced Financial Crimes Investigations Certification.
o Association of Certified Financial Crime Specialists: Certified Financial Crime Specialist .
o Association of Certified Fraud Examiners: Certified Fraud Examiner.
o American Bankers Association: Certified AML and Fraud Professional; ABA Certificate in BSA and AML Compliance; ABA Certificate in Fraud Compliance; Certified Regulatory Compliance Manager.
o CSBS: Certified Anti-Money Laundering Specialist.
• Demonstrated experience with and/or interest in virtual currency.

Appointment method:

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, Banking, Business, Business and Technology, Commerce, Criminal Justice, Finance, Economics, Econometrics, International or Public Affairs, Law, Statistics, or Mathematics and five (5) years of specialized experience in one (1) of the following of which two (2) years must have been at a supervisory level:

• Evaluating financial institution financial crime risk (BSA/AML, CIP, OFAC/Sanctions, CTF) in a management, compliance or audit environment.
• Developing and implementing financial crime risk management or compliance policies, programs and procedures.

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.

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 Status: Permanent

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.

Contact Information

Name Tyler Lebel

Telephone

Fax (518) 402-5071

Email Address NCE.Notifications@DFS.ny.gov

Address

Street 1 Commerce plaza

3rd Floor

City Albany

State NY

Zip Code 12257

 

Notes on ApplyingTo Apply: Interested qualified candidates must submit a resume and letter of interest no later than January 24, 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.

Tyler Lebel
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 full-time 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.