Minimum Qualifications Appointment Method:
Candidates must meet the minimum qualifications listed below in order to be eligible for appointment.
Non-Competitive: A Bachelor’s Degree and nine years of experience in one or more of the following areas:
• Trading, underwriting, hedging or analyzing risk management of capital markets instruments for financial
• Audit or regulatory examination of capital markets; or
• Research or teaching experience at a college or university in finance, economics or mathematics,
including the study of capital markets instruments, trading and risk management in financial markets.
Substitutions: A Bachelor’s Degree in finance, economics, accounting, mathematics or business administration
may substitute for two years of the experience. A Master’s Degree in the same fields may substitute for three
years of the experience. A Ph.D. in the same fields may substitute for four years of the experience.
• Excellent knowledge and understanding of all fixed income securities and derivatives.
• Experience with financial guaranty insurance a plus.
• Strong computer coding skills with hands-on experience performing data analysis in a financial services
setting; C++, VBA, SQL, or equivalent, programming skills.
• Institutional investment management or trading experience.
• Knowledge of computer modeling techniques.
• Ability to evaluate, assess, and critique existing valuation and risk management models.
• Bloomberg Terminal experience preferred.
• CFA charterholder a plus.
Duties Description The Department of Financial Services is seeking applicants to fill a Financial Insurance Supervisor and Risk
Specialist position in the Capital Markets Division. Duties will include, but not be limited to, the following:
• Participates in and provides capital markets expertise on examinations conducted by the Department of
• Reviews, evaluates, and summarizes insurers’ investment portfolios’ assets and risk exposures;
• Represents capital markets perspective on the enterprise risk management (“ERM”) component of
• Reviews Regulation 203 submissions and ORSA fillings;
• Provides capital markets expertise and assessment with respect to insurance companies’ derivative use
plan (“DUP”) filings, as required by NYIL Section 1410;
• Provides primary and integral technical support, both quantitative and coding (software programming) in
nature, of the Research & Analysis Bureau’s portfolio analysis system (aka “investment templates”);
• Supervises examiner performing desk audits and other examination or related work; and
• Other duties as assigned.
Additional Comments Please note that 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 $3,026 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.
Notes on ApplyingTo Apply: Interested qualified candidates must submit a resume and letter of interest no later than May 31, 2022, to the email address listed below. Please include (Box SRMS-CM-02715) in the subject line of your
email to ensure receipt of your application. Email submissions are preferred.
New York State Department of Financial Services
Office of Human Resources Management
99 Washington Avenue, Suite 301
Albany, New York 12257
Fax: (518) 402-5071
Please note that not all applicants may be scheduled for an interview.
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 and the
accommodation would not constitute an undue hardship on the operations of the agency.