Virtual Currency Financial Crimes Risk Associate (financial Services Specialist 4 (financial Crime Risk)), SG - 27

Virtual Currency Financial Crimes Risk Associate

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 Virtual Currency Financial Crimes Risk Associate, (Financial Services Specialist 4, (Financial Crime Risk)), in the Virtual Currency Unit. Duties include, but are not limited to, the following:

• Actively monitors dashboard(s) to identify data anomalies raising red flags for potential market manipulation violations;
• Conducts investigations on fraud alerts and provides written disposition of findings within case management system. Escalates suspected incidents of market manipulation to management in accordance with policy;
• Performs provenance tracing of on-chain transactions attributed to DFS applicant/licensee as part of the investigation process;
• Evaluates and recommends new use cases for fraud detection to management;
• Maintains a solid understanding of existing and emerging blockchains, tokens, and technologies impacting the industry and identifies areas for enhancing the Virtual Currency Unit's financial crimes monitoring processes related to the use of blockchain analytics and market surveillance tools;
• Consults on and performs BSA/AML program reviews and control testing on applicants and licensed entities identifying deficiencies and communicating said deficiencies clearly and concisely in written reports to management as well as verbally in meetings with internal and external stakeholders as needed;
• Serves as a subject matter expert on crypto related financial crime matters for all functions of the Virtual Currency and Limited Purpose Trust Units, including applications, ongoing supervision and examinations;
• Maintains a good understanding of the BSA/AML laws, regulations, guidance, and best practices, relevant to transaction monitoring, suspicious activity reporting, money laundering and fraud typologies and investigative techniques required to detect illicit activity within the virtual currency space;
• Assists management in the development, review and revision of Financial Crime related policies/procedures and other related materials;
• Presents analyses and findings to colleagues and leadership at DFS, often making reasoned recommendations for agency action;
• May supervise lower-level staff, and
• Other appropriate and occupationally related duties as assigned; Travel may be required up to 25%

Preferred Qualifications:

• 2+ years direct experience working in the crypto industry utilizing blockchain analytics and OSINT tools;
• Subject matter expertise in financial crime, fraud, virtual assets, and/or blockchain analytics;
• 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 Tool Certification(s)
• Association of Certified Anti-Money Laundering Specialists: Certified Anti-Money Laundering Specialist, Certified Cryptoasset AFC Specialist, Certified Anti-Fraud Specialist, Certified Global Sanctions 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
• Demonstrated experience with virtual currency

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.

Salary: The starting salary for this position is $106,898 with periodic increases up to $131,665. 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. Appointment Status: Permanent. Appointment to this position is pending Governor Appointment's Office and Division of Budget approval.