Associate Attorney Financial Services, M-3

New York State Department of Financial Services; City of Albany (NY); On-site; USD 120,000 - 152,000; Full time

Job summary

The New York State Department of Financial Services seeks a qualified attorney to perform rigorous legal research and writing in support of licensing, investigations, and enforcement actions.

The role focuses on reviewing case law, public records, and filings, assessing cybersecurity compliance under 23 NYCRR Part 500, and preparing concise memoranda to guide licensing decisions; occasional supervision of junior staff is involved.

Qualifications

• Admission to NYS Bar with at least four years of legal experience in finance or investigations.
• Experience researching case law, enforcement actions, and public records.
• Knowledge of cybersecurity regulation, Part 500, preferred.

Responsibilities

• Conducts thorough due diligence research in connection with DFS license applicants for student loan servicing, money services, banking and cryptocurrency business.
• Researches and analyzes case law, litigation dockets and their contents, and other public records, including enforcement actions, sanctions, and news articles.
• Reviews UCC filings, liens, judgments and bankruptcy filings, and other relevant filings.
• Issues concise and clearly written memoranda applying analysis to relevant findings to support the recommendations upon which the business units of the Department may rely for their licensing decisions.
• Assists in reviewing the work of less experienced staff
• Participates in the investigations of cybersecurity incidents reported by regulated entities in connection with the Department’s Cybersecurity Compliance Regulation, 23 NYCRR Part 500, drafting concise memoranda of findings from each inquiry; and
• Other duties as assigned.

Skills

Legal research and writing

Education

Juris Doctor (JD) or LL.M. in Banking/Financial Services Law

Job description

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.

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.

Duties

• Conducts thorough due diligence research in connection with DFS license applicants for student loan servicing, money services, banking and cryptocurrency business, focusing on the applicants’ control parties, officers, directors, and related companies;
• Researches and analyzes case law, litigation dockets and their contents, and other public records, including enforcement actions, sanctions, and news articles;
• Reviews UCC filings, liens, judgments and bankruptcy filings, and other relevant filings;
• Issues concise and clearly written memoranda applying analysis to relevant findings to support the recommendations upon which the business units of the Department may rely for their licensing decisions;
• Assists in reviewing the work of less experienced staff
• Participates in the investigations of cybersecurity incidents reported by regulated entities in connection with the Department’s Cybersecurity Compliance Regulation, 23 NYCRR Part 500, drafting concise memoranda of findings from each inquiry; and
• Other duties as assigned.

Preferred Qualifications

Minimum Qualifications

• Demonstrated experience in legal research and writing.
• Demonstrated interest in learning about cybersecurity compliance in connection with the Department’s first of its kind cybersecurity regulation, Part 500.

Appointment Method

Candidates must meet the minimum qualifications listed below in order to be eligible for appointment. Non-Competitive: Admission to the New York State Bar and four years of legal experience subsequent to admission to the NYS Bar. Legal experience must be in one or more of the following fields: litigation or financial industry investigations; corporate law involving such actions as corporate mergers, dissolutions, stockholder meetings and other related corporate actions; commercial financial documentation and negotiation; bank regulatory experience; insurance regulatory and legislative experience; and prosecutorial experience gained in a city, state, or federal law enforcement or administrative agency that regularly conducts civil enforcement action in financial and commercial matters. A master’s degree in law with a concentration in Banking Law, Insurance Law, Financial Services Law, Corporate Law, or international legal studies may substitute for two years of the 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 $120,471 with periodic increases up to $152,238

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 $4,150 annual downstate adjustment.

Appointment Status: Contingent Permanent

Appointment to this position is pending Governor Appointment’s Office and Division of Budget approval.