Trust Compliance Associate (Financial Services Specialist 4 (Compliance), SG-27)

Trust Compliance 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 Trust Compliance Associate in Limited Purpose Trust unit within the Research and Innovation Division. Duties include, but are not limited to, the following :

When assigned to the field :

• Supports supervision and examination work on Trust Company charters for compliance with relevant laws, regulations, guidance, and supervisory expectations;
• Conducts examinations and reviews of fiduciary and private banking activities, and operations related thereto, at trust companies subject to supervision by the New York State Department of Financial Services;
• Evaluates the adequacy of policies, procedures and controls, internal audit function, corporate governance and compliance management systems, BSA / AML, systems and technology, financial condition and management policies governing earnings, liquidity, rate sensitivity, income and expense accounts, and compliance with part 500 and 504;
• Assesses an institution's capital adequacy and capital planning process and senior management's strategic business plan;
• Reviews prior examination reports, and periodic reports submitted by institution(s) to become informed of specific problem areas, overall financial condition, management of institution(s) and to plan examination;
• Prepares accurate, comprehensive reports 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 on corrective measures that need to be taken, and presents recommendations internally for supervisory actions;
• Discusses findings with management and obtains their responses to comments, and suggests and explores practicable approaches to correct deficiencies;
• Remains up to date on industry best practices in the examination of financial institutions, including skills involving blockchain monitoring / analytics, transaction sampling and monitoring model validation, and sanctions screening systems; the verification of claimed virtual currency holdings; validation of stablecoin backing assets; the auditing of the self-certification of coin listings by regulated companies; and observation of the application of anti-fraud and market-manipulation policies and procedures;
• Travel may be required up to 25%;
• May supervise subordinate staff; and
• Other duties as assigned.

When assigned to the office :

Preferred Qualifications

Prior experience with bank regulatory safety and soundness rating systems such as CAMELS, ROCA or FILMS. Demonstrated ability to manage a large volume of tasks and function in an organized manner; and ability to produce a consistently clear, professional and concise work product. Subject-matter expertise and / or experience in one or more of the following are not required, but preferred :

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, Business, Business Administration, Business and Technology, Commerce, Consumer Sciences, Computer Science, Criminal Justice, Economics, Econometrics, Finance, Information Systems, Information System Engineering, Internal Controls, Health, Health Administration, Law, Mathematics, Public Administration, Public Affairs, Public Health, or Public Policy 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 :

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.

Some positions may require additional credentials or a background check to verify your identity.