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Review Vacancy

Date Posted 10/21/21

Applications Due12/02/21

Vacancy ID93175

AgencyFinancial Services, Department of

TitleSupervising Risk Management Specialist

Occupational CategoryOther Professional Careers

Salary Grade31

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

Salary RangeFrom $117762 to $143358 Annually

Employment Type Full-Time

Appointment Type Permanent

Jurisdictional Class Non-competitive Class

Travel Percentage 0%

Workweek Mon-Fri

Hours Per Week 37.5


From 9 AM

To 5 PM

Flextime allowed? No

Mandatory overtime? No

Compressed workweek allowed? Yes

Telecommuting allowed? Yes

County New York

Street Address One State Street

City NYC


Zip Code10004

Minimum Qualifications Appointment Method:

This is an appointment to a position in the non-competitive jurisdictional class. As such, the incumbent of this position would serve at the pleasure of the appointing authority. Candidates must meet the minimum qualifications listed below in order to be eligible for appointment.

Non-Competitive: Bachelor’s Degree and nine years of experience in one or more of the following areas: trading, underwriting, hedging or analyzing risk management of capital markets instruments for financial institutions OR audit or regulatory examination of capital markets OR research or teaching experience at a college or university in finance, economics or mathematics, including the study of capital markets instruments, trading and risk management in financial markets.

Substitutions: A Bachelor’s Degree in finance, economics, accounting, mathematics or business administration may substitute for two years of the experience. A Master’s Degree in the same fields may substitute for three years of the experience. A Ph.D. in the same fields may substitute for four years of the experience.

Preferred Skills:

• Excellent knowledge and understanding of all fixed income securities and derivatives.
• Strong computer coding skills with hands-on experience performing data analysis in a financial services setting; C++, VBA, SQL, or equivalent, programming skills.
• Institutional investment management or trading experience.
• Knowledge of computer modeling techniques.
• Ability to evaluate, assess, and critique existing valuation and risk management models.
• Bloomberg Terminal experience preferred.
• CFA charterholder a plus.

Duties Description The Department of Financial Services is seeking applicants to fill a Supervising Risk Management Specialist position in the Capital Markets Division. The Supervising Risk Management Specialist’s duties will include, but will not be limited to, the following:

• Participating in and providing capital markets expertise on examinations conducted by the Department of Financial Services;
• Reviewing, evaluating, and summarizing insurers’ investment portfolios’ assets and risk exposures;
• Representing capital markets perspective on the enterprise risk management (“ERM”) component of examinations; reviewing Regulation 203 submissions and ORSA fillings;
• Providing capital markets expertise and assessment with respect to insurance companies’ derivative use plan (“DUP”) filings, as required by NYIL Section 1410;
• Providing primary and integral technical support, both quantitative and coding (software programming) in nature, of the Research & Analysis Bureau’s portfolio analysis system (aka “investment templates”);
• Supervising examiner performing desk audits and other examination or related work; and
• Other duties as assigned.

Additional Comments Please note that 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.

Some positions may require additional credentials or a background check to verify your identity.

Name Nicole Pickel


Fax 518-402-5071

Email Address


Street 99 Washington Avenue, 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 December 2, 2021, to the email address listed below. Please include (Box SRMS-CM-02715) in the subject line of your email to ensure receipt of your application. Email submissions are preferred.

Nicole Pickel
Box SRMS-CM-02715
New York State Department of Financial Services
Office of Human Resources Management
99 Washington Avenue, Suite 301
Albany, New York 12257
Fax: (518) 402-5071

Please note that not all applicants may be scheduled for an interview.

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.

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