Financial Services Specialist 2 (Risk), SG-23

The duties that the incumbent of the vacancy will be expected to perform. 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 Financial Services Specialist 2 (Risk) will be responsible for designing and overseeing the architecture that supports the integration, storage, and processing of data within the New York State Department of Financial Services (DFS). This individual will collaborate closely with business and IT teams to ensure the architecture efficiently handles both internal and external data feeds, enabling high-quality, consistent, and timely insights into entities under the DFS's supervision. They will be tasked with optimizing database performance, ensuring scalability, and enabling advanced analytics and reporting to support entity risk management functions.This position requires a highly skilled data architect with experience in data modeling, integration, and ensuring the quality of data in regulatory and financial environments. The role demands a collaborative mindset, strong problem-solving skills, and a solid understanding of the financial services industry, including risk management and compliance requirements.The Department of Financial Services is seeking candidates for the position of Financial Services Specialist 2 (Risk) in the Entity Risk Management function Data Architecture team. Duties include, but are not limited to, the following: • Data Integration & Architecture: o Leads the design and implementation of robust data models and structures within the data warehouse.o Collaborates with business units, data engineers, and IT teams to identify and integrate both internal and external data sources into the data architecture.o Ensures smooth and accurate data feeds, supporting data consolidation and data warehousing requirements.• Database & Data Architecture Optimization: o Continuously optimizes database and data architecture performance to ensure scalability, speed, and efficiency.o Ensures that the data architecture supports high-demand analytics and reporting capabilities for real-time and historical insights into entity risk and compliance.o Proactively identifies bottlenecks and areas for performance enhancement in the data architecture.• Collaboration with Business & IT Teams: o Acts as a liaison between business heads, data engineers, data governance, IT teams, and other stakeholders to ensure data architecture aligns with business objectives.o Ensures that the data architecture integrates seamlessly with existing systems, applications, and workflows.o Provides technical guidance and expertise on best practices for data modeling and architecture design.• Advanced Analytics & Reporting: o Ensures that the data architecture supports advanced analytics, dashboards, and reporting requirements to deliver actionable insights on entities supervised by the DFS.o Works with business intelligence teams to ensure the data architecture supports dynamic reporting, risk modeling, and decision-making needs.o Ensures the data infrastructure supports macroeconomic and industry trend analysis relevant to regulatory requirements.• Documentation & Reporting: o Creates and maintain clear documentation of data architecture processes, design decisions, and data flows.o Provides clear reports to stakeholders on architecture progress, design updates, and any issues or challenges encountered during implementation.o Ensures full transparency in the documentation of data integrations, transformations, and storage solutions.• Data Quality & Cleansing: o Oversees any data cleansing and validation processes to ensure data quality, consistency, and accuracy across internal and external datasets.o Collaborates with the Data Governance teams to ensure standards and methodologies to maintain high-quality data and data integrity are present before data is moved into the data warehouse.o Works closely with data governance teams to establish data quality controls and monitoring systems.• Other duties as assigned.

The minimum qualifications required for this vacancy. Minimum Qualifications Preferred Qualifications• CFA Institute: Chartered Financial Analyst• Professional Risk Managers' International Association certifications: o Associate Professional Risk Managero Credit and Counterparty Managero Market, Liquidity and Asset Liability Management Risk Manager• Project Management Institute: Portfolio Management Professional• American Academy of Financial Management: Chartered Portfolio Manager ProgramAppointment Method: Candidates must meet the minimum qualifications listed below in order to be eligible for appointment.Non-Competitive: A Bachelor’s Degree in Auditing, Business, Business Administration, Economics, Econometrics, Finance, Mathematics, Market Analysis, Quality Assurance, or Risk Management and three (3) years of specialized experience in the following: • Defining, assessing and analyzing events/circumstances which impact the financial services institutions/markets. • Performing financial and economic risk analysis, including portfolio risk analysis, credit, market and counterparty risk stress testing and stress test scenario development. • Reviewing traded products, related derivative and cash securities pricing techniques, Value-at-Risk, and/or counterparty credit risk modeling including measurement of wrong way risk and CVA. • Using market-based risk indicators, including equity and debt-linked default probability models. • Using fundamentals-based early warning risk indicators, including accounting-based distress prediction models.• Conducting predictive financial institution insolvency analysis.• Reviewing global post-financial crisis approaches to financial institution resolution planning, including experience and expertise with approaches to systemic institution definitions and resolution planning policy and implementation; experience and expertise in key attributes of effective resolution systems and measures to implement them.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 regarding the vacancy. 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 $86,681 with periodic increases up to $109,650Positions 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

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Salary : $4,000