The New York State Department of Financial Services seeks to build an equitable, more transparent and resilient financial system that benefits New Yorkers and supports business. Through engagement, data-driven regulation, and operational excellence, DFS is responsible for empowering consumers and protecting them from financial harm; ensuring the health and stability of the financial entities we regulate; and driving economic growth through responsible innovation.

The Department of Financial Services is seeking candidates for the position of Virtual Currency Analyst, SG-18, in the Virtual Currency Unit within the Research & Innovation Division. TheVirtual Currency Analyst serves as a specialist for regulated Virtual Currency entities, including companies holding licenses to engage in virtual currency business activities (“BitLicenses”). Travel may be required within and outside of New York State.

Duties will include, but not be limited to, some or all of the following:

  • Supports the supervision and examination of BitLicensees, and possibly other DFS-regulated Virtual Currency entities, for compliance with relevant laws, regulations, guidance, and supervisory expectations;
  • 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 comprehensive summaries of reviews done in support of applications, supervision and examination materials for VCU management;
  • Discusses findings with senior staff and revises reports as needed;
  • Maintains all institution files in shared VCU records locations and ensures senior staff have access to relevant information;
  • Supports the build-out of or enhancements to internal policies and procedures related to applications, supervision, and examination processes;
  • Remains up-to-date on best practices in the examination of financial institutions, including those that deal with Virtual Currency, including skills involving blockchain monitoring and blockchain analytics; transaction sampling for purposes including the validation of transaction monitoring and sanctions screening systems; the verification of claimed Virtual Currency holdings; validation of stablecoin backing assets; 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;
  • As needed, reviews and processes applications for BitLicenses and Virtual Currency trust company charters, and participates in supervision of regulated Virtual Currency entities, including applications to adopt material changes of business;
  • Communicates with and presents to senior management, both orally and in written memoranda and presentations, analyzes issues and/or recommends DFS action on any issues encountered in connection with the above; and
  • Supports new initiatives around policy supervision and internal processes related to the Virtual Currency Unit.

Preferred Qualifications:

Experience in one or more of the following are not required but are helpful:

  • Virtual currency;
  • Bank Secrecy Act/Anti-money Laundering (BSA/AML), Office of Foreign Assets Control (OFAC), and related laws, regulations, and best practices;
  • Cybersecurity laws, regulations, and issues;
  • Internal controls / governance;
  • Financial analysis;
  • Accounting; and
  • The use of blockchain analytics software.

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 two (2) years of specialized experience in one of the following:

· Evaluating the adequacy of board and management oversight of the financial institutions’ compliance programs.

· Reviewing lending, deposit, insurance and other transactions to determine compliance with Financial Service’s applicable laws/regulations.

· Identifying financial institutions’ potentially unfair, deceptive, abusive or discriminatory acts or practices.

· Reviewing financial institution programs, policies and procedures for compliance with legal and regulatory requirements.

· Evaluating financial costs for the failure of financial services entities to adhere or comply with New York State, federal, or other states financial services laws.

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.

To Apply: Interested qualified candidates must submit a resume and letter of interest no later than February 9, 2023 to the email address listed below. Please include the Box # (Box VCA-FSS1C-10390) in the subject line of your email to ensure receipt of your application. Email submissions are preferred.

All candidates that apply may not be scheduled for an interview

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. To learn more about the program and whether you would qualify, please visit: https://studentaid.gov/manage-loans/forgiveness-cancellation/public-service


Under the Americans with Disabilities Act (ADA), the Department of Financial Services is required to provide reasonable accommodation 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. If the accommodation would constitute an undue hardship on the operations of the agency, the agency is not required to provide it.

Job Type: Full-time

Pay: $61,270.00 – $77,912.00 per year


  • Health insurance


  • Monday to Friday

Work Location: One location