Financial Crimes Risk Manager (director Financial Services Programs 1, Sg - 31)

Financial Crime Risk Manager

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 Financial Crime Risk Manager, (Director Financial Services Programs 1), in Virtual Currency. Duties include, but are not limited to, the following:

• Supervises the daily oversight of financial crime surveillance processes, including ongoing screening and proactive monitoring, escalating issues requiring immediate or early Department attention;
• Decisions on the need for deeper investigations stemming from proactive monitoring to identify regulated entity programmatic weaknesses;
• Consults on crypto related BSA/AML and Sanctions matters acting as subject matter expert (SME) in support of Licensing, Supervision and Examination of entities;
• Assists in the development, review and revision of Financial Crime related policies and procedures;
• Prepares and delivers Financial Crimes related trainings;
• Oversees vendor engagement for DFS suite of tools including, blockchain analytics, market manipulation, screening and other due diligence tools;
• Drafts and reviews staff work product to ensure BSA/AML and Sanctions programmatic deficiencies are conveyed clearly and concisely through written documents and verbally with internal and external stakeholders;
• Identifies areas for enhancing the Virtual Currency Unit's financial crimes monitoring processes related to the use of blockchain analytics and market surveillance tools, by maintaining a solid understanding of existing and emerging blockchains, tokens, and technologies impacting the industry;
• Maintains a solid understanding and stays current of the BSA/AML laws, regulations, guidance, and best practices, relevant to transaction monitoring, suspicious activity reporting, financial crime typologies and investigative techniques required to detect illicit activity within the virtual currency space;
• Presents analyses and findings to colleagues and leadership at DFS, often making reasoned recommendations for agency action;
• Manages a team of financial crime specialists; and
• Travel may be required up to 50%.

Preferred Qualifications:

• 2+ years direct experience working in the crypto industry utilizing blockchain analytics and OSINT tools;
• Subject matter expertise in transaction monitoring including on-chain and off-chain alerts/investigations;
• Solid knowledge of Bank Secrecy Act/Anti-Money Laundering (BSA/AML), Sanctions (OFAC), and related laws, regulations, guidance, and best practices;
• General Knowledge of Cybersecurity laws, regulations, and issues;
• Valid (non-expired) Certifications held:
• Blockchain analytics certification(s)
• 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 virtual currency

Salary: The starting salary for this position is $131,256 with periodic increases up to $159,784. 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 $4,000 annual downstate adjustment.