Innovation Policy Director (Director Financial Services Programs 2, SG-33)

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 (DFS) is seeking applicants for a senior role in its Innovation Policy Unit, housed in the Division of Research and Innovation. This position represents a chance to play a leadership role in tackling cutting-edge policy issues in financial services in New York, including those related to fintech, insurtech, cryptocurrency, decentralized finance, and the use of artificial intelligence and machine learning by the industry.

The Innovation Policy Unit is charged with performing qualitative and quantitative research to inform DFS decision-making and influence internal and external stakeholders; conducting policy reviews of innovation topics; maintaining best practices for policy review and development; managing an external engagement program with innovators; and hosting and attending innovation-related outreach events. The Innovation Policy Director will participate in and/or lead projects in pursuit of the above and related goals. Duties include, but are not limited to, the following:

• Advises Deputy Superintendent of Innovation Policy on topics at the intersection of emerging technology and financial markets;
• Oversees multiple policy projects at a given time;
• Leads documentary research, qualitative interviews and other non-documentary research; and, with the assistance of data specialist staff, quantitative research, to inform policy decisions by DFS;
• Leads policy development and analysis projects to arrive at recommendations for DFS action, such as the issuance of guidance, the promulgation of new or amended regulations, or the proposal of advocacy for new or amended legislation;
• Oversees the creation of policy documents, such as proposed legislation, proposed regulations, and/or proposed guidance;
• Oversees the creation of educational or outreach documents, such as white papers, public reports, and Op-Eds;
• Participates as a senior practitioner in any of the above activities;
• Represents the Innovation Policy Unit in engagement with other DFS business units concerning policy questions, policy needs, policy analysis, or the effectuation of policy recommendations;
• Plans, manages, and participates in meetings, panel discussions, round-table discussions, advisory board meetings, and other external engagements to gather or disseminate information relevant to financial-services policy-making;
• In consultation/coordination with others in the Innovation Policy Unit’s leadership, work to set DFS’s policy agenda, including by participating actively in periodic planning of policy projects to be pursued by the unit;
• Supports the development and maintenance of partnerships with internal and external persons and entities related to policy topics;
• Provides briefings and status updates to others in leadership, including executive staff;
• Works on other projects as needed, both in the Research and Innovation Division and outside the Division, as warranted;
• Maintains awareness of news and other information sources relevant to policy analysis concerning financial services, and pursues educational opportunities relevant to policy-making; and
• Other duties as assigned.

Minimum Qualifications

Preferred Qualifications

• Experience in financial services, government, academia, non-profit management, consulting, or other related field.
• Experience reviewing and analyzing policy is relevant but not required.
• Interest in, and some knowledge of, developments in financial technology (“fintech”), insurance technology (“Insurtech”), and other emerging technology areas is relevant but not required.
• Experience managing multiple projects at a given time is relevant but not required.

Appointment Method:

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

Non-Competitive: Twelve 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.

Three 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.