Virtual Currency Financial Crime Risk Associate

Profile

Contact
Agency
Financial Services, Department of
Title
Virtual Currency Financial Crime Risk 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
Albany
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, Banking, Business, Business and Technology, Commerce, Criminal Justice, Finance, Economics, Econometrics, International or Public Affairs, Law, Statistics, or Mathematics 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 financial institution financial crime risk (BSA/AML, CIP, OFAC/Sanctions, CTF) in a management, compliance or audit environment.
• Developing and implementing financial crime risk management or compliance policies, programs and procedures.
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 Financial Crime Risk Associate, SG-27, in the Virtual Currency Unit within the Research and Innovation Division. 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:
• Reviews and processes the Bank Secrecy Act/Anti-money Laundering (BSA/AML) and related aspects of applications for licenses to engage in virtual currency business activity (“BitLicenses”) and for limited-purpose trust charters and/or other charters granted under the New York Banking Law for entities focusing on virtual currency-related business;
• Explains deficiencies and needed features of BSA/AML and related policies, procedures, and programs of applicants clearly and concisely in written memoranda and in conferences with DFS colleagues and with applicants and their outside counsel;
• Consults on, and possibly conducts, BSA/AML and related examinations and supervisory reviews of DFS-regulated virtual currency businesses;
• Helps develop and enhance BSA/AML and sanctions-related supervisory guidance applicable to virtual currency business activity, including as it relates to blockchain intelligence, the Travel Rule, stablecoin networks, and other areas of heightened focus for virtual currency supervision;
• Conducts analysis of suspicious activity, including referrals from internal sources, account activity monitoring, transaction monitoring, and onchain activity (blockchain analytics). Provides assistance in conducting investigations of suspicious activity and required documentation;
• Serves as an expert resource on BSA/AML and related matters for all functions of the Virtual Currency Unit, including applications, examinations, and non-periodic supervision including the consideration of material-change-of-business requests;
• Implements and enhances the Virtual Currency Unit’s internal financial crimes monitoring processes;
• Assists in review and revision of BSA/AML- and sanctions-related examination policies and procedures, including first-day letters, work programs, and other related materials;
• Maintains a good understanding of the BSA/AML laws, regulations, guidance, and best practices, including those relevant to BSA suspicious activity reporting and current money laundering schemes and investigative techniques required to detect such schemes within the virtual currency space.
• Presents analyses and findings to colleagues and leadership at DFS, often making reasoned recommendations for agency action;
• Participates in the setting and execution of DFS policy, particularly regarding matters that touch on BSA/AML, OFAC (Office of Foreign Assets Control), and related compliance; and
• Other appropriate and occupationally related duties as assigned.
Preferred Skills:
Subject-matter expertise and/or experience in one or more of the following are not required, but are preferred:
• Association of Certified Anti-Money Laundering Specialists: Certified Anti-Money Laundering Specialist, Advanced AML Audit Certification, Advanced Financial Crimes Investigations Certification
• Association of Certified Financial Crime Specialists: Certified Financial Crime Specialist
• Association of Certified Fraud Examiners: Certified Fraud Examiner
• American Bankers Association: Certified AML and Fraud Professional; ABA Certificate in BSA and AML Compliance; ABA Certificate in Fraud Compliance; Certified Regulatory Compliance Manager
• CSBS: Certified Anti-Money Laundering Specialist
• Demonstrated experience with and/or interest in virtual currency
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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