NY HELP No Agency Financial Services, Department of Title Financial Services Specialist 4 (Risk), SG-27 Occupational Category Financial, Accounting, Auditing Salary Grade 27 Bargaining Unit PS&T - Professional, Scientific, and Technical (PEF) Salary Range From $106898 to $131665 Annually Employment Type Full-Time Appointment Type Contingent Permanent Jurisdictional Class Non-competitive Class Travel Percentage 0% Workweek Mon-Fri Hours Per Week 37.5 Workday From 8 AM To 6 PM Flextime allowed? No Mandatory overtime? No Compressed workweek allowed? No Telecommuting allowed? Yes County New York Street Address One State Street City New York City State NY Zip Code 10004 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 Department of Financial Services is seeking candidates for the position of Financial Services Specialist 4 (Risk) within the Property Bureau. Duties include, but are not limited to, the following:• Leads internal meetings and participates in inter-bureau conferences, Departmental hearings, and conferences with industry officials;• Handles consumer and VIP complaints and inquiries as well as FOIL requests;• Attends periodic meetings with the American Arbitration Association (AAA);• Keeps abreast of statutes, regulations, circular letters, OGC opinions, and Bureau procedures governing automobile no-fault and physical damage coverages and clearly articulates them to staff and the industry;• Conducts meetings with company representatives pertaining to investigative findings and necessary corrective action plans;• Writes reports and memos that effectively document issues needing further analysis and input from supervisors and Bureau management in reaching appropriate conclusions;• Investigates abusive No-Fault claims practices of insurers as well as applicants and their attorneys that are brought to light from No-Fault arbitrations filed with the AAA;• Coordinates collection of penalties from insurers in connection with enforcement of payment of overdue No-Fault arbitration awards;• Oversees auto insurers’ physical damage claims handling practices for compliance with Insurance Regulations 64 and 79;• Investigates health service provider overcharges;• Assists in the development of reports, special projects or studies in accordance with applicable statutes, regulations and executive directives;• Assists Bureau staff in implementing new and upgraded electronic systems related to specific functions of the Bureau;• Informs supervisor of any observed industry trends, unusual findings or significant issues that have arisen;• Assists with internal control oversight;• Reviews letters and memos prepared by staff for completeness and for appropriate citations or interpretations of laws, regulations, and OGC opinions;• Monitors the workflow of staff and oversees the training of new examiners including trainees;• Assists in special investigations and/or research projects including preparing information for the annual Superintendent’s Report;• Oversees the review of disaster response plans submitted annually by licensed Property/Casualty insurance companies;• Monitors and updates the No-Fault Resources section of the Department’s website to ensure information is current and accurate;• Assists in drafting proposed amendments to Insurance Regulations pertaining to automobile 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.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, Auditing, Business, Business Administration, Economics, Econometrics, Finance, Mathematics, Market Analysis, Quality Assurance, or Risk Management and five (5) years of specialized experience in the following of which two (2) years must have been at a supervisory level:• 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 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 $131,665Positions 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: Contingent PermanentAppointment to this position is pending Governor Appointment’s Office and Division of Budget approval. Some positions may require additional credentials or a background check to verify your identity. Name Kara Waters Telephone Fax (518) 402-5071 Email Address NCE.Notifications@dfs.ny.gov Address Street One Commerce Plaza Suite 301 City Albany State NY Zip Code 12257 Notes on Applying To Apply: Interested qualified candidates must submit a resume and letter of interest no later than November 25, 2025 to the email address listed below. Please include the Box # (Box FSS4R-10309) in the subject line of your email to ensure receipt of your application. Email submissions are preferred.Please be advised that the New York State Department of Financial Services does not offer sponsorship for employment visas.Kara WatersBox FSS4R-10309New York State Department of Financial ServicesOffice of Human Resources Management One Commerce Plaza, Suite 301Albany, NY 12257Email: NCE.Notifications@dfs.ny.govFax: (518) 402-5071All candidates that apply may not be scheduled for an interview.Public Service Loan ForgivenessEmployment 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-serviceAMERICANS WITH DISABILITIES ACT: REASONABLE ACCOMMODATIONSUnder 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.All people with disabilities are encouraged to apply to all jobs for which they meet the minimum qualifications.