Salary Job Openings

Director of Virtual Currency Monitoring (Director Financial Services Programs 2)

Financial Services, Department of
Albany, NY Full Time
POSTED ON 3/8/2024
Preferred Qualifications
  • Experience in the following:
o Virtual currency
o BSA/AML, OFAC, and related laws, regulations, and best practices
o Cybersecurity laws, regulations, and best practices
o Internal controls/governance
o Financial analysis
o Accounting

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 sciences, auditing, banking, business, business administration, business and technology, commerce, computer information systems, computer science, consumer sciences, criminal justice, cyber security, econometrics, economics, finance, financial administration, health, health administration, information systems, information systems engineering, information technology, internal controls, international or public affairs, law, market analysis, mathematics, public administration, public policy, risk management, statistics, taxation, or technology and eight (8) years of financial services experience with: 1) a federal or state regulated entity; 2) a governmental regulatory entity; or 3) an entity or organization with a business focus related to financial services such as a law firm or accounting practice. This experience must include practical and technical knowledge about State, federal and/or international financial services laws, rules and regulations. Two (2) years of the experience must have been at a managerial level.
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 Director of Virtual Currency Monitoring in the Virtual Currency Unit (VCU), within the Research and Innovation Division. Duties include, but are not limited to, the following:

  • Coordinates oversight and examination approaches across the VCU;
  • Identifies novel risks and concerns through oversight and examination, develops and implements risk management procedures, and ensures consistent process application;
  • Coordinates between unit teams within the Division and among cross-functional teams;
  • Supports the Assistant Deputy Superintendent (ADS); as a point of contact with respect to inquiries/questions raised by internal and external stakeholders;
  • Drafts internal examination and monitoring procedures and tools and trains team members in carrying out examination and monitoring responsibilities;
  • Attends scheduled cadence meetings with BitLicensees where novel or otherwise significant issues are expected to arise and helps to guide the team as to next steps;
  • Oversees teams collection and review of BitLicensee material change and other submissions to ensure compliance;
  • Oversees the teams tracking, monitoring, and closeout of MRIA/MRAs resulting from examinations;
  • Escalates material concerns and significant risk areas using advanced judgment to the ADS;
  • Assists ADS in refining scopes of examinations by providing risk-based input regarding licensees;
  • Identifies knowledge gaps and specified risk areas across BitLicensees, drafts a framework for review, and assists team in performing horizontal reviews to address gaps and risks;
  • Supports the development of policy and guidance;
  • Monitors virtual currency trends and keeps team informed of relevant news;
  • Supervises other team members; and
  • Other duties as assigned.
Additional Comments

Salary: The starting salary for this position is $137,387 with periodic increases up to $166,013.

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 $3,087 annual downstate adjustment.

Appointment to this position is pending Governor Appointment’s Office and Division of Budget approval.

Salary.com Estimation for Director of Virtual Currency Monitoring (Director Financial Services Programs 2) in Albany, NY
$175,365 to $260,545
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