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

Field duties:

• Assists the CPC as primary point of contact for the continuous monitoring of a GSIB institution;
• Supports the planning and organizing supervisory plans and target examinations; assigning key subordinate examiners to specific segments of the examination (e.g., loan review, earnings, liquidity analysis, capital, BSA/AML, systems and technology, loss mitigation etc.);
• Prepares the annual assessment letter and presents findings to bank management and board of directors;
• Functions as DFS’s representative at interagency Crisis Management meetings and Supervisory Colleges;
• Supports in preparation of the risk assessment, risk matrix, staff utilization schedule, and the examination scope and procedures based upon the institution’s risk profile, previous examination findings, workpapers, correspondence, internal departmental memoranda and directives from Department management;
• Monitors examination progress and provides guidance to subordinates and adheres to time schedules.

Reviews the assignments of assisting examiners, providing constructive critical analysis of their work;

• Reviews and analyzes all aspects of completed target examinations, supporting comments and workpapers submitted by assisting examiners, and presentations provided by bank management, identify any risks present which may impact the institution;
• Completes individual report schedules and their assembling into a coherent examination report;
• Prepares target examination letters and an annual assessment 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 senior management team and board of directors on corrective measures that need to be taken;
• Prepares reviews of significant examination findings and conclusions; suggests and explores practicable approaches to correct deficiencies;
• Monitors compliance with outstanding corrective supervisory actions and recommends the appropriate closure of outstanding actions; and
• Travel may be required up to 10%

Office duties:

• Processes, analyzes and recommends action on complex corporate actions submitted for approval by institutions;
• Analyzes applications for various actions by conferring with principals of the institutions involved, reviewing plans, evaluating financial data and all legal and financial requirements;
• Prepares studies and special projects for the Superintendent and Deputy Superintendent on various topics by establishing objectives, developing parameters, conducting research, conferring with appropriate individuals and preparing the final draft of position papers and studies;
• Acts as day-to-day liaison to, and meets with, Federal and State regulatory authorities and industry groups on legal and accounting matters affecting supervised institutions; and
• Addresses potentially critical and highly controversial issues affecting the banking industry and provides guidance to subordinate examiners.

Minimum Qualifications

Preferred Qualifications

• Prior experience assisting with the continuous monitoring supervision of a GSIB institution including the preparation of assessment letters and presentation of findings to the institutions board.
• Experience interacting and working with federal regulators on a large GSIB continuous monitoring assignment.
• Experience participating and presenting at interagency Crisis Management meetings and Supervisory Colleges.
• Practice evaluating compliance with regulatory actions such as consent orders and memorandums of understanding.
• Extensive experience reviewing institutions compliance with DFS’s Part

500.

• Received specialized training such as CSBS’s Large Bank Supervision conference.
• Participated in the interview panels for FWB trainee hires.
• Acted as a mentor to bank examiner trainees.
• Prior experience acting as an examiner in charge utilizing bank regulatory safety and soundness rating systems such as CAMELS, ROCA or FILMS.
• Demonstrated ability to manage a large volume of tasks and functions in an organized manner.
• Ability to produce a consistently clear, neat and concise work product.
• Proven desire to develop and upgrade skills and accept new challenges and responsibilities.
• Ability to understand and clearly articulate complex risks and inform supervisors appropriately.

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.

** 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.