Director Financial Services Programs 1, SG-31

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 Director Financial Services Programs 1 in Community and Regional Bank Unit. Duties include, but are not limited to, the following:

• Serve as Examiner-in-Charge for large and complex institutions with responsibility for planning and organizing examinations and assigning key subordinate examiners to specific segments of the examination (e.g., loan review, earnings, liquidity analysis, capital, AML/CFT, systems and technology, loss mitigation etc.);
• Collaborates with federal regulatory agencies drafting and reviewing joint examination reports, specifically of troubled institutions;
• Prepares the risk assessment and develop the examination scope and procedures based upon the institution’s risk profile, information in the previous examination report, workpapers, correspondence, internal departmental memoranda and directives from Department management;
• Works with Team Leaders to support, mentor, and assist new Examiners-in-Charge;
• Partners with more junior examiners and/or trainees to perform various CAMELS assessments and specialty examinations such as AML/CFT and Internal Audit;
• Monitors examination progress. Review assignments and provide constructive, critical one-on-one feedback and guidance on both the technical analysis and the written work product required to prepare a Product Memo and Report of Examination;
• Reviews and analyzes all examination report schedules, supporting comments and workpapers submitted by assisting examiners to identify any risks present which may impact the institution;
• Submits an accurate, comprehensive Report of Examination of the financial condition of the entity, complete with narrative and analytical presentations on the various operations of the institution, with suggestions or recommendations to the senior management team and board of directors/trustees on corrective measures that need to be taken;
• Reviews apparent violations of law or regulation, discuss each case with assisting examiners and institution management, determine what documents and records should be assembled to complete a review and analysis and, if necessary, asks for and review the opinion of institution counsel;
• Participates in and supports the work of the Team Leader and the Review Unit in providing appropriate DFS-specific and/or on-the-job training opportunities for field examiners;
• Maintains familiarity with, and support through action and example, the policies within the Department’s various manuals and procedures;
• Recommends supervisory or other actions as warranted, to the Team Leader and Assistant Deputy of the operating division;
• Provides guidance in solving problems and coping with unusual situations, and to gauge the prospect for completing and processing reports within the projected timeline;
• Assess institution’s compliance with the Department’s supervisory policies and procedures as well as compliance with the requirements of any supervisory actions;
• May be responsible for supervising, training, and evaluating the conduct and work of other examiners; and
• Travel may be required up to 50% throughout the New York Metropolitan area and Long Island. Periodic overnight travel could be required for a week at a time.

Minimum Qualifications

Appointment Method:

Candidates must meet the minimum qualifications listed below in order to be eligible for appointment.

Non-Competitive:

Eleven years of financial services experience** with EITHER a regulated entity who has a regional, national, and/or international presence; OR a governmental regulatory entity.

This experience must include practical and technical knowledge about State, federal and/or international financial services laws, rules and regulations.

Two years of the experience must have been at a managerial level.

Substitutions: An associate degree may substitute for two years of experience; a bachelor’s degree may substitute for four years of experience; a master’s degree may substitute for five years of experience; and a doctorate may substitute for six years of experience.

*Acceptable Degrees: 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.

** Qualifying professional financial services experience is defined to include, but may not be limited to related experience gained with public accounting/auditing firms; cyber security and intrusion detection/mitigation firms; law firms, lobbying firms and consulting firms/companies; risk assessment, asset hedging and loss control firms; commodities markets, virtual currency and credit scoring; currency markets/exchanges, bond markets, stock markets and money markets; hedge funds, mutual funds, investment houses and rating firms; business valuation, stock valuation, and cash management; wealth management, wealth portfolio, and trust companies/corporations; firms with a nexus to corporate mergers, acquisitions, management and accounting; mortgage backed securities, swaps and swap valuation; underwriting, policyholder services and claims services; workers’ compensation, income protection plans, gap insurance and liability coverage; property/casualty insurance, life insurance and health insurance; retirement/savings plans such as social security, pension plans, Roth IRA, 527 Plans, 401(k) Plans, 403(b) Plans, annuities and related income tax savings vehicles; fair lending practices and urban analysis; public finance/financial management and taxation, central bank, tax, tariff and trade; and monetary policy, monetary reform and investment theory.