Virtual Currency Senior Analyst (Financial Services Specialist 2 (Compliance), SG-23)

Virtual Currency Senior Analyst

The New York State Department of Financial Services seeks to build an equitable, transparent, and resilient financial system that benefits individuals and supports business. Through engagement, data-driven regulation and policy, and operational excellence, the Department and its employees are responsible for empowering consumers and protecting them from financial harm; ensuring the health of the entities we regulate; driving economic growth in New York through responsible innovation; and preserving the stability of the global financial system.

The Department of Financial Services is seeking candidates for the position of Virtual Currency Senior Analyst, SG-23, in the Virtual Currency Unit within the Research & Innovation Division. The Virtual Currency Senior Analyst serves as a specialist for regulated Virtual Currency entities, including companies holding licenses to engage in virtual currency business activities ("BitLicenses"). The successful candidate must be available to travel within and outside of New York State.

Duties will include, but not be limited to, some or all of the following :

• Maintains a thorough understanding of the business models of assigned Licensees and identifies and assesses relevant current and emerging risks;
• Conducts risk-based assessments of applicants' and Licensees' governance, compliance, and internal audit controls; BSA / AML program; operational, regulatory and legal risks and controls; risk management program; financial condition; etc; and presenting written recommendations for supervisory actions;
• Leads periodic meetings, ad hoc supervisory engagements and some examinations (e.g. desk-based and onsite exams, horizontal thematic reviews) of less complex BitLicensees, Virtual Currency Trust Company charters, and other DFS-regulated Virtual Currency entities, for compliance with relevant laws, regulations, guidance, and supervisory expectations;
• Supports the licensing reviews and supervision examinations of complex BitLicensees, Virtual Currency Trust Company charters, and other DFS-regulated Virtual Currency entities, for compliance with relevant laws, regulations, guidance, and supervisory expectations;
• Meets with Licensees' management to receive periodic business updates, discusses examination scope, requests information and materials needed for supervision and examination, and maintains an understanding of the institution's operations and the scale and scope of its business;
• Writes or assists in the drafting of comprehensive Reports of Examination (ROE);
• Writes internal memoranda regarding supervisory recommendations and program improvements;
• Supports the development of, and enhancements to, internal supervisory policy views and policies and procedures documentation related to the supervisory process, such as examination manuals and internal best-practice guides for Limited Purpose Trusts and BitLicensees;
• Researches and remains up-to-date on emerging risks and industry best practices as well as regulatory best practices, including skills involving blockchain monitoring / analytics, transaction sampling and monitoring model validation, and sanctions screening systems; the verification of claimed virtual currency holdings; validation of stablecoin backing assets; and the auditing of the self-certification of coin listings by regulated companies;
• Communicates with and presents to senior and executive management, both orally and in written memoranda.

Minimum Qualifications

Preferred Qualifications

The preferred candidate will have knowledge of Virtual Currency and relevant business models, as well as experience in one or more of the following :

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 Science, Auditing, Business, Business Administration, Business and Technology, Commerce, Consumer Sciences, Computer Science, Criminal Justice, Economics, Econometrics, Finance, Information Systems, Information System Engineering, Internal Controls, Health, Health Administration, Law, Mathematics, Public Administration, Public Affairs, Public Health, or Public Policy and three (3) years of specialized experience in one of the following :

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.

Additional Comments

Please note that a change in negotiating unit may affect your salary, insurance and other benefits.

Salary : The starting salary for this position is $86,681 with periodic increases up to $109,650.

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 $4,000 annual downstate adjustment.

Appointment Status : Contingent Permanent

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.