Virtual Currency Supervision Associate

Profile

Contact
Agency
Financial Services, Department of
Title
Virtual Currency Supervision Associate
Occupational Category
Other Professional Careers
Salary Grade
27
Bargaining Unit
PS&T - Professional, Scientific, and Technical (PEF)
Salary Range
From $95098 to $118129 Annually
Employment Type
Full-Time
Appointment Type
Permanent
Jurisdictional Class
Non-competitive Class
Travel Percentage
0%
Workweek
Mon-Fri
Hours Per Week
37.50
Workday
From
9 AM
To
5 PM
Flextime allowed?
No
Mandatory overtime?
No
Compressed workweek allowed?
Yes
Telecommuting allowed?
Yes
County
To Be Determined
Street Address
*NYC - One State Street
Albany - One Commerce Plaza
City
NYC/Albany
State
NY
Zip Code
10004
Minimum Qualifications
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 five (5) years of specialized experience in one (1) of the following of which two (2) years must have been at a supervisory level:
• Evaluating the adequacy of board and management oversight of 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 Department of Financial Services (DFS) is seeking candidates for the position of Virtual Currency Supervision Associate, SG-27, in the Virtual Currency Unit within the Research & Innovation Division. The Virtual Currency Supervision Associate serves as a commissioned specialist for regulated Virtual Currency entities, including companies holding licenses to engage in virtual currency business activities (“BitLicenses”). Travel may be required within and outside of New York State.
Duties will include, but not be limited to, some or all of the following:
• Examines BitLicensees, and possibly other DFS-regulated Virtual Currency entities, for compliance with relevant laws, regulations, guidance, and supervisory expectations;
• Reviews prior examination reports, and periodic reports submitted by institution(s) to become informed of specific problem areas, overall financial condition, management of institution(s) and to plan examination;
• Meets with institution management to present credentials, discuss scope of examinations, request information and materials needed for examination, and obtains general orientation to the institution's operations;
• Prepares comprehensive field examination reports, including general findings, specific comments on problem areas and management response;
• Discusses findings with management and obtains their responses to comments on the operation of their institution;
• Tracks laws, regulations, policies, and examination procedures of federal or other regulatory authorities relevant to the Virtual Currency Unit, including serving as a DFS policy lead in such capacity as required;
• Remains up-to-date on best practices in the examination of financial institutions, including those that deal with Virtual Currency, including skills involving blockchain monitoring and blockchain analytics; transaction sampling for purposes including the validation of transaction monitoring and sanctions screening systems; the verification of claimed Virtual Currency holdings; validation of stablecoin backing assets; auditing of the self-certification of coin listings by regulated companies; and observation of the application of anti-fraud and market-manipulation policies and procedures;
• As needed, reviews and processes applications for BitLicenses and Virtual Currency trust company charters, and participates in non-periodic supervision of regulated Virtual Currency entities, including applications to adopt material changes of business;
• Communicates with and presents to senior and executive management, both orally and in written memoranda and presentations, analyzing issues and/or recommending DFS action on any issues encountered in connection with the above; and
• Supports the Virtual Currency Unit’s ongoing supervisory relationships with BitLicense and limited purpose trust charter applicants, licensees, and key industry and public stakeholders.
Preferred Skills:
Subject-matter expertise and/or experience in one or more of the following are not required, but are preferred:
• Virtual currency;
• BSA/AML (Bank Secrecy Act/Anti-money Laundering), OFAC (Office of Foreign Assets Control), and related laws, regulations, and best practices;
• Cybersecurity laws, regulations, and issues;
• Internal controls / governance;
• Financial analysis;
• Accounting; and
• The use of blockchain analytics software.
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 approval.
Some positions may require additional credentials or a background check to verify your identity.
Name
Thomas Hurd
Telephone
Fax
Email Address
****
Address
Street
99 Washington Avenue, Suite 301
City
Albany
State
NY
Zip Code
12257

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