Financial Services Specialist 4 (Financial Crimes Risk)

The New York State Department of Financial Services is seeking candidates for the position of Financial Services Specialist 4 (Financial Crimes Risk) in the Health Bureau. Duties include, but are not limited to, the following:

• Reviews the work of analysts regarding applications for licensure of various types of health companies, both foreign and domestic for conformity to NAIC UCAA requirements along with New York State specific requirements.
• Ensures that the processing of foreign license applications are completed in a timely manner and primary license applications are completed in accordance with the procedures and within the time frames outlined in the NAIC accreditation guidelines.
• Prepares memo of licensing recommendation (for approval or denial) based on review for submission to immediate supervisor.
• Reviews the analyses of various financial transactions (e.g., holding company transactions including management service agreements, 1307 loans, capital infusions, mergers, acquisitions, etc.) filed by insurers and completed by supervised analysts.
• Reviews complex corporate filings and holding company transactions, recognizes problem areas based on a review of annual statements and related filings, and recommends solutions to address them.
• Reviews the financial analyses of statements (both annual and quarterly) of insurers performed by supervised analysts and verifies that the reviews are completed in accordance with the procedures and within the time frames outlined in the NAIC accreditation guidelines.
• Provides timely, in-depth reviews of desk audits, appropriate feedback to staff member conducting the audit and timely sign-offs on work supervised.
• Reviews correspondence drafted by analysts to ensure it is accurate, addresses all applicable concerns and questions, and that it is appropriate for the intended recipient.
• Participates in meetings and is properly prepared for the meeting (by reading applicable documents, understanding the purpose of the meeting and discussing issues with direct supervisor and/or other appropriate party, prior to the meeting);
• Prepares, or oversees the preparations of the summary memo for the meeting, which includes pertinent facts and conclusions;
• Assists in the supervision and training of trainees and other staff under direct supervision;
• Provides assistance to Bureau staff performing on-site examinations when called upon;
• Responds to the public's health insurance inquiries via telephone;
• Supports through example, the official policies contained in the General Administration Manual;
• Completes special projects in the Health Bureau;
• Acts as website/IT liaison for the Health Bureau;
• Supervises Freedom of Information Law (FOIL) requests;
• Supervises Record Retention for the Health Bureau;
• Coordinates the Health Bureau's input to the "Superintendent's Report to the Legislature";
• Coordinates the Health Bureau's input to the "Consumers Guide to Health Insurance"; and
• Other duties as assigned.

Minimum Qualifications:

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.

Additional Comments:

Please note that a change in negotiating unit may affect your salary, insurance and other benefits.

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

To Apply: Interested qualified candidates must submit a resume and letter of interest no later than August 11, 2025 to the email address listed below. Please include the Box # (Box FSS4FCR-10577) in the subject line of your email to ensure receipt of your application. Email submissions are preferred.

Public Service Loan Forgiveness: Employment with New York State qualifies an individual for Public Service Loan Forgiveness (PSLF). This program forgives the remaining balance on any Direct Student Loans after you have made 120 qualifying monthly payments while working full-time for a U.S. federal, state, local, or tribal government or not-for-profit organization.

Americans With Disabilities Act: Reasonable accommodations are provided for known physical or mental limitations of an otherwise qualified applicant with a disability if an accommodation would enable the applicant to perform the essential functions of the job.