Please note: State agencies that contact job applicants do not usually request personal or financial information via text message or over the phone in connection with your response to a job posting. If you are contacted for such information by these methods, or any other method, please verify the identity of the individual before transmitting such information to that person.
Note: For questions about the job posting, please contact the agency that posted this position by using the contact information provided on the "Contact" tab for the position.

Review Vacancy

Date Posted 11/14/22

Applications Due11/30/22

Vacancy ID116700

AgencyFinancial Services, Department of

TitleAssociate Risk Monitoring Specialist (Financial Services Specialist 4 (Risk), SG-27)

Occupational CategoryOther Professional Careers

Salary Grade27

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

Salary RangeFrom $97816 to $120492 Annually

Employment Type Full-Time

Appointment Type Permanent

Jurisdictional Class Non-competitive 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 To Be Determined

Street Address One Commerce Plaza, NY, 12260

One State Street, NY, 10004

City Albany

StateNY

Zip Code12257

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, Auditing, Business, Business Administration, Economics, Econometrics, Finance, Mathematics, Market Analysis, Quality Assurance, or Risk Management and five (5) years of specialized experience in the following of which two (2) years must have been at a supervisory level:

• Defining, assessing and analyzing events/circumstances which impact the financial services institutions/markets.
• Performing financial and economic risk analysis, including portfolio risk analysis, credit, market and counterparty risk stress testing and stress test scenario development.
• Reviewing traded products, related derivative and cash securities pricing techniques, Value-at-Risk, and/or counterparty credit risk modeling including measurement of wrong way risk and CVA.
• Using market-based risk indicators, including equity and debt-linked default probability models.
• Using fundamentals-based early warning risk indicators, including accounting-based distress prediction models.
• Conducting predictive financial institution insolvency analysis.
• Reviewing global post-financial crisis approaches to financial institution resolution planning, including experience and expertise with approaches to systemic institution definitions and resolution planning policy and implementation; experience and expertise in key attributes of effective resolution systems and measures to implement them.

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.

Duties Description The New York 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 Associate Risk Monitoring Specialist in the Research and Innovation Division. This role is cross-functional across the Department and will lead the development and implementation of systems for comprehensive risk monitoring across all types of regulated entities. Potential monitoring areas include, but are not limited to: investments and capital market activity, vendor relationships and third-party risk, and economic conditions. This position will have support from the Economic Research Unit within the R&I Division.

Duties include, but are not limited to, the following:

• Works with large and complex data sets to solve problems using different analytical and statistical approaches;
• Identifies information sources and information collection methods and vets them for appropriateness;
• Reviews data submissions by entities; monitors variances; identifies trends; recommends relevant actions to management;
• Reviews financial reports from supervised entities;
• Monitors overall quality of submissions by supervised entities and ensures accurate reporting through engagement across the Department;
• Leads the development and presentation of comprehensive risk monitoring reports across Department divisions;
• Supervises junior staff in maintaining database integrity by reviewing for data entry, verification and back-ups in coordination with the Director of Data Governance and Management;
• Partners with cross functional teams to lead technical analysis, design, development, testing, and implementation of data initiatives;
• Leads data analytics projects involving junior staff;
• Provides quality review for junior staff data analysis;
• Leads the development of key materials for senior leadership briefings and decision-making;
• Supervises lower level staff; and
• Other duties as assigned.

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 Melissa Dover

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 November 30, 2022 to the email address listed below. Please include the Box # (Box SRMS-FSS2-10275) in the subject line of your email to ensure receipt of your application. Email submissions are preferred.

Melissa Dover
Box SRMS-FSS2-10275
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.


Printable Version