Financial Services Specialist ; Compliance), SG

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 Financial Services Specialist 4 (Compliance) in Property Bureau. Duties include, but are not limited to, the following for the most complex companies or groups:

• Completes the audit and analysis of annual and quarterly statements in accordance with required documentation standards and within required time frames set by the NAIC Financial Analysis Handbook involving review and analysis of:
• Audited Financial Statements
• Management Discussion and Analysis
• Statement of Actuarial Opinion Summary
• Holding company analysis including:
• Group Profile Summary
• Own Risk and Solvency Analysis
• Enterprise Risk Management
• Reviews the companies’ response for cybersecurity compliance. If the company indicates they are not in compliance, coordinate with the Cyber Security Unit to determine mitigation of risk factors and follow up with companies:
• Follows up with company regarding risk climate change exposures ascertained by the Climate Unit:
• Identifies potential problems and monitors known problem areas and reports progress to supervisors;
• Follows up with licensees concerning resolution of comments and recommendations contained in Reports on Examination, Summary Memorandum, and meetings with companies;
• Communicates timely on issues discovered during financial analysis to the appropriate field staff;
• Processes licensing applications for various types of foreign and domestic property/casualty companies to ensure compliance with NAIC Uniform Certificate of Authority Application and New York specific requirements including the New York Insurance Law, New York Business Corporation Law, department regulations, circular letters, and administrative standards/policies, as well as other relevant international and federal statutes;
• Applies relevant laws, regulations, and bureau standards to proposed transactions with a goal of maintaining financial solvency and compliance;
• Informs supervisors timely of any material noncompliance and solvency issues and addresses such matters to the company’s attention for corrective action;
• Participates in and prepares presentations for supervisory colleges;
• Participates in and prepares for meetings with companies including reviewing relevant documents and contributes relevant thoughts; and
• Other duties as assigned.

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

• Evaluating the adequacy of board and management oversight of the financial institutions' compliance programs.
• Reviewing lending, deposit, insurance and other transactions to…