Review Vacancy
AgencyFinancial Services, Department of
TitleSenior Risk Monitoring Specialist (Financial Services Specialist 2 (Risk), SG-23)
Occupational CategoryOther Professional Careers
Bargaining UnitPS&T - Professional, Scientific, and Technical (PEF)
Salary RangeFrom $79325 to $100342 Annually
Minimum Qualifications Preferred Qualifications
• Experience in economic modeling, economic impact analysis, and/or financial modeling.
• Comfortable working with large volumes of data.
• Experience with data querying languages (e.g., SQL), scripting languages (e.g., Python).
• Experience with or statistical/mathematical software (e.g., R, STATA).
• Excellent communication skills, and detail oriented.
• Ability to solve problems creatively and to multi-task across projects.
• Highly motivated and effective working autonomously and as part of cross-functional teams.
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 three (3) years of specialized experience in the following:
• 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 Senior Risk Monitoring Specialist in the Research and Innovation Division. This role is cross-functional across the Department and will participate in 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 report directly to the Associate Risk Monitoring Specialist.
Duties include, but are not limited to, the following:
• Works with large data sets to solve problems using different analytical and statistical approaches;
• Reviews information sources and recommends them for inclusion in research and monitoring efforts;
• Reviews and monitors quality of data submissions by entities; monitors variances; identifies trends;
• Reviews financial reports from supervised entities;
• Contributes to the preparation of comprehensive risk monitoring reports across Department divisions;
• Maintains database integrity by entering, verifying, and backing up data in coordination with the Director of Data Governance and Management;
• Partners with cross functional teams to participate in technical analysis, design, development, testing, and implementation of data initiatives; 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.
Email Address NCE.Notifications@dfs.ny.gov
Address
Street One Commerce Plaza, Suite 301
Notes on ApplyingTo Apply: Interested qualified candidates must submit a resume and letter of interest no later than April 4, 2023 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.
Anthony Craft
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.