Review Vacancy
AgencyFinancial Services, Department of
TitleVirtual Currency Senior Analyst (Financial Services Specialist 2 (Compliance), SG-23)
Occupational CategoryOther Professional Careers
Bargaining UnitPS&T - Professional, Scientific, and Technical (PEF)
Salary RangeFrom $84156 to $106454 Annually
Appointment Type Contingent Permanent
Duties Description The New York State Department of Financial Services seeks to build an equitable, more transparent, and resilient financial system that benefits New Yorkers and supports business. Through engagement, data-driven regulation, and operational excellence, DFS is responsible for empowering consumers and protecting them from financial harm; ensuring the health and stability of the financial entities we regulate; and driving economic growth through responsible innovation.
The Department of Financial Services is seeking candidates for the position of Virtual Currency Senior Analyst, SG-23, in the Virtual Currency Unit within the Research & Innovation Division. The Virtual Currency Senior Analyst serves as a specialist for regulated Virtual Currency entities, including companies holding licenses to engage in virtual currency business activities (“BitLicenses”). The successful candidate must be available to travel within and outside of New York State.
Duties will include, but not be limited to, some or all of the following:
• Leads the licensing reviews and supervision (e.g. cadence meetings, ad hoc supervisory engagements) and examination (e.g. desk-based and onsite exams, horizontal thematic reviews) work on assigned low risk, non-complex BitLicensees, Virtual Currency Trust Company charters, and other DFS-regulated Virtual Currency entities, for compliance with relevant laws, regulations, guidance, and supervisory expectations;
• Supports the licensing reviews and supervision and examination work on higher risk, complex BitLicensees, Virtual Currency Trust Company charters, and other DFS-regulated Virtual Currency entities, for compliance with relevant laws, regulations, guidance, and supervisory expectations;
• Maintains a thorough understanding of the business models of assigned Licensees and identifies and assesses relevant current and emerging risks;
• Conducts risk-based assessments of applicants’ and Licensees’ governance, compliance, and internal audit controls; BSA/AML program; operational, regulatory and legal risks and controls; risk management program; financial condition; etc; and presents recommendations for supervisory actions
• Meets with Licensees’ management to get periodic business updates, discuss examination scope, request information and materials needed for supervision and examination, and maintain an understanding of the institution's operations and the scale and scope of its business;
• Prepares comprehensive Reports of Examination (ROE) and contributes to reports, letters, memos, and guidance documents, etc. for external stakeholders;
• Supports the development of, and enhancements to, internal policies and procedures related to the BitLicense supervisory process, such as examination manuals and internal best-practice guides;
• Remains up to date on industry best practices, including skills involving blockchain monitoring/analytics, transaction sampling and monitoring model validation, and sanctions screening systems; the verification of claimed virtual currency holdings; validation of stablecoin backing assets; and the auditing of the self-certification of coin listings by regulated companies;
• Communicates with and presents to senior and executive management, both orally and in written memoranda and presentations;
• Supports ad hoc projects and new initiatives around policy supervision and internal processes related to the Virtual Currency Unit;
• Travel may be required up to 25%; and
• Other duties as assigned.
Minimum Qualifications Preferred Qualifications:
Knowledge of Virtual Currency and relevant business models is a must as well as experience in one or more of the following:
• 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;
• Governance / internal controls;
• Financial analysis;
• Accounting; and
• The use of blockchain analytics software.
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, 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 three (3) years of specialized experience in one of the following:
• Evaluating the adequacy of board and management oversight of 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.
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: Contingent Permanent
Some positions may require additional credentials or a background check to verify your identity.
Email Address NCE.Notifications@DFS.ny.gov
Address
3rd Floor
Notes on ApplyingTo Apply: Interested qualified candidates must submit a resume and letter of interest no later than February 19, 2025, 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.
Kara Waters
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 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.