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Review Vacancy

Date Posted 05/09/22

Applications Due07/15/22

Vacancy ID104462

AgencyFinancial Services, Department of

TitleDeputy Superintendent of Limited Purpose Trusts

Occupational CategoryFinancial, Accounting, Auditing

Salary GradeNS

Bargaining UnitM/C - Management / Confidential (Unrepresented)

Salary RangeFrom $151984 to $188231 Annually

Employment Type Full-Time

Appointment Type Permanent

Jurisdictional Class Exempt Class

Travel Percentage 0%

Workweek Mon-Fri

Hours Per Week 37.5

Workday

From 9 AM

To 5 PM

Flextime allowed? No

Mandatory overtime? No

Compressed workweek allowed? Yes

Telecommuting allowed? Yes

County Albany

Street Address *One State Street

One Commerce Plaza

City New York/ Albany

StateNY

Zip Code10004

Minimum Qualifications Appointment method:

This is an appointment to a position in the exempt jurisdictional class. As such, the incumbent of this position would serve at the pleasure of the appointing authority.

Duties Description The Department of Financial Services (DFS) is seeking a qualified subject matter expert for the Virtual Currency Unit within the Research and Innovation Division. The Deputy Superintendent of Limited Purpose Trusts will be the subject matter expert in certain domain areas, with limitations particularly related to specialized skills around trust-specific issues (e.g., fiduciary considerations) as well as deep technical knowledge around virtual currencies warranted to DFS’ limited purposed trust companies (LPTC) licensees.

Duties include, but are not limited to:

• Oversees and participates in the examination process for DFS-regulated limited purposed trust companies (LPTCs) and other DFS-regulated Virtual Currency entities, to ensure 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 examinations;
• Oversees a team responsible for examining assets and liabilities of LPTCs, including verifying accuracy and disclosing risky, concerning, or illegal practices;
• Participates in and provides capital markets expertise on examinations conducted by the Department;
• Supports the build-out of or enhancements to internal policies and procedures related to the LPTC’s supervisory process, such as examination manuals and internal best practices, including as it relates to virtual currency developments;
• Serves as a subject matter expert on trust-specific issues, including related to fiduciary compliance, capital planning, and changes of control, as well as mergers and acquisitions;
• 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; and
• Other duties as assigned.

Preferred Qualifications:

• A Bachelor’s degree
• At least ten years of relevant experience in virtual currency, financial regulatory agencies or other government institutions
• Five years of supervisory 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 $3,026 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.

Name Thomas Hurd

Telephone

Fax (518) 402-5071

Email Address NCE.Notifications@dfs.ny.gov

Address

Street One Commerce Plaza, Suite 301

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 July 15, 2022 to the email address listed below. Please include the Box # [Box DFSP3-DSLPT-10146] in the subject line of your email to ensure receipt of your application. Email submissions are preferred.

Thomas Hurd
Box DFSP3-DSLPT-10146
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

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.

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