Review Vacancy
AgencyFinancial Services, Department of
TitleDirector Financial Services Programs 2 (Accounting Specialist, Virtual Currency)
Occupational CategoryOther Professional Careers
Bargaining UnitPS&T - Professional, Scientific, and Technical (PEF)
Salary RangeFrom $130770 to $158018 Annually
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 in accounting, actuarial sciences, auditing, banking, business, business administration, business and technology, commerce, computer information systems, computer science, consumer sciences, criminal justice, cyber security, econometrics, economics, finance, financial administration, health, health administration, information systems, information systems engineering, information technology, internal controls, international or public affairs, law, market analysis, mathematics, public administration, public policy, risk management, statistics, taxation, or technology and eight (8) years of financial services experience with: 1) a regulated entity who has a regional, national and/or international presence; or 2) a governmental regulatory entity. This experience must include practical and technical knowledge about State, federal and/or international financial services laws, rules, and regulations. Three (3) years of the experience must have been at a managerial level.
Substitutions: A J.D. or a master’s degree may substitute for one (1) year of specialized experience; and a Ph.D. may substitute for two (2) years of specialized experience.
Duties Description The Department of Financial Services (DFS) is seeking applicants to fill the position of Director, Financial Services Programs 2, in the Research and Innovation Division. The person selected will work primarily in the Division’s virtual currency licensing and supervision unit.
The Research and Innovation Division is expanding its virtual currency team and is looking for dynamic professionals with a variety of backgrounds and skill sets for virtual currency application review and analysis; examination of regulated virtual currency firms; supervision of firms seeking to make changes to their business; and other tasks relevant to the sound regulation of this dynamic industry. The Director, Financial Services Programs 2, will advise all functions of the virtual currency unit on the application of accounting principles and standards, and financial analysis/financial reporting principles, to the virtual currency industry. Job duties will include, but not be limited to, some or all of the following:
• Performs and advises on the review and analysis of audited and unaudited financial statements and pro-forma financial forecasts related to applications for licenses to engage in virtual currency business activity (“BitLicenses”) and for virtual currency trust company charters;
• Performs and advises on the review and analysis of financial statements, analyses, and audits in connection with the examination of BitLicensees and virtual currency trust companies;
• Performs and advises on the review and analysis of financial statements, analyses, and audits in connection with proposed new products, services, or activities by DFS-supervised virtual currency entities; material changes to the existing products, services, or activities provided by such entities; mergers, acquisitions, or material asset sales involving such entities; and other significant events in the evolution of these businesses;
• Consults and guides other members of Division staff on accounting, regulatory reporting, and internal control and audit issues and trends;
• Compiles and creates information and training materials and conducts seminars for Division staff on accounting, reporting, and internal audit, and control issues;
• Identifies and participates in training classes and conferences suitable for the position, to stay abreast of current and expected changes affecting financial services or financial products;
• Collaborates with others in the Division concerning policy formulation, policy recommendations, and the establishment of Division procedures related to matters of accounting, auding, financial analysis, internal controls, and related matters, and drafts policy proposals, memoranda, and other documents as required;
• Communicates with other regulators and regulatory advisory entities, including at the state, federal, and international levels, concerning matters of common concern;
• Represents the Department as a speaker at outside conferences and seminars, and attends relevant conferences, seminars, and meetings as appropriate;
• Researches and analyzes technical accounting and regulatory reporting issues and trends;
• Completes special projects assigned by the Superintendent and members of the executive team related to accounting, regulatory reporting, audit, and internal control issues and industry trends, new products, and innovative technologies; and
• Performs any or all of the above functions in relation to fintech, insurtech, and other innovative financial products and services, in addition to the virtual currency or cryptocurrency industry.
Preferred Skills:
• CPA currently licensed
• Experience with audited financial statements of financial services companies
• Recent experience dealing with GAAP for financial services companies
• Experience with internal control issues
• Cryptocurrency experience is not required, but a demonstrated interest in digital assets and/or fintech issues is preferred
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 $3,026 annual downstate adjustment.
Appointment to this position is pending Division of Budget approval to fill.
Some positions may require additional credentials or a background check to verify your identity.
Email Address nce.notifications@dfs.ny.gov
Address
Street 99 Washington Avenue, Suite 301
Notes on ApplyingTo Apply: Interested qualified candidates must submit a resume and letter of interest no later than December 31, 2021, to the email address listed below. Please include (Box DFSP2-RI-10065) in the subject line of your email to ensure receipt of your application. Email submissions are preferred.
Nicole Pickel
Box DFSP2-RI-10065
New York State Department of Financial Services
Office of Human Resources Management
One Commerce Plaza
99 Washington Avenue, Suite 301
Albany, NY 12257
Email: NCE.Notifications@dfs.ny.gov
All candidates that apply may not 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.