Virtual Currency Financial Crimes Risk Specialist; Financial Services Specialist ; Financial Crime Risk SG

Duties Description

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 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 Specialist in the Virtual Currency Unit. Duties include, but are not limited to, the following:

• Conducts BSA/AML program reviews and control testing on applicants 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;
• Consults on and leads financial crime examinations of licensed and chartered entities, identifying programmatic deficiencies and communicating said deficiencies clearly and concisely in written reports to management as well as verbally in meetings with internal and external stakeholders;
• Utilizes blockchain analytics and other relevant tools when performing applicant program reviews and conducting examinations of licensed and chartered entities.
• 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 an expert understanding of the BSA/AML laws, regulations, guidance, financial crime typologies, and best practices relevant to transaction monitoring, suspicious activity reporting and investigative techniques required to detect illicit activity within the virtual currency space;
• Maintains a solid understanding of existing and emerging blockchains, tokens, and technologies impacting the industry and identifies areas for enhancing the Virtual Currency and Limited Purpose Trust Units’ financial crime monitoring processes;
• 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;
• Ability to read and write fluently in English
• May supervise lower-level staff;
• Travel may be required up to 25%; and
• Other appropriate and occupationally related duties as assigned.

Subject matter expertise and/or experience in one or more of the following are not required, but are preferred:

• 3+ years of 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…