Job Posting for Foreign and Wholesale Banks Compliance Specialist at Financial Services, Department of

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 (1) of the following:

Evaluating the adequacy of board and management oversight of the financial institutions' compliance programs.
Reviewing lending, deposit, insurance and other transactions to determine compliance with Financial Service’s applicable laws/regulations.
Identifying financial institutions' potentially unfair, deceptive, abusive or discriminatory acts or practices.
Reviewing financial institution programs, policies and procedures for compliance with legal and regulatory requirements.
Evaluating financial costs for the failure of financial services entities to adhere or comply with New York State, federal, or other states financial services laws.

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 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 Foreign and Wholesale Banks Compliance Specialist in Foreign and Wholesale Banks. Duties include, but are not limited to, the following:

Oversees and assesses processes to ensure compliance with applicable laws and regulations in smaller and less complex financial institutions;
Evaluates the adequacy of policies, procedures and controls, internal audit function, corporate governance and compliance management systems, BSA/AML, systems and technology, financial condition and management policies governing earnings, liquidity, rate sensitivity, income and expense accounts, and compliance with parts 500 and 504;
Assesses compliance with applicable laws and regulations intended to ensure an institution's capital adequacy and capital planning process and senior management's strategic business plan;
Assists in aggregating assessments of an institution’s compliance with applicable laws and regulations into a single coherent report;
Assists in ensuring institutions’ compliance with applicable laws and regulations, supporting the team as the primary contact for a portfolio of institutions;
Performs in-house reviews of written compliance assessments, including supporting comments and workpapers, and communicate the results of assessments to the institutions;
Assesses the adequacy of management responses to compliance assessments;
Maintains up to date institutional profiles, in-house databases reflecting all correspondence and supervisory actions taken, if any;
Monitors institution’s financial condition, compliance with laws and regulations and regulatory reporting, including determining if the volume of liquid assets appears appropriate in light of the volatility and historic record of the branch structure;
Meets with bank management to discern present plans, trends and problems, and to discuss significant findings or other compliance concerns;
Monitors institutions compliance with the Department’s supervisory policies and procedures;
Recommends administrative actions, fines, penalties or suspension or revocation of licenses or charters where circumstances warrant; 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 $3,400 annual downstate adjustment.

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

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Foreign and Wholesale Banks Compliance Specialist

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