Surveillance Operations Analyst (Financial Services Specialist 2 (Risk), SG-23)

State of New York • Albany or NYC, NY

157d • $86,681 - $109,650

About The Position

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.

Requirements

• A Bachelor's Degree in Auditing, Business, Business Administration, Economics, Econometrics, Finance, Mathematics, Market Analysis, Quality Assurance, or Risk Management.
• Three (3) years of specialized experience in defining, assessing and analyzing events/circumstances which impact the financial services institutions/markets.
• Experience performing financial and economic risk analysis, including portfolio risk analysis, credit, market and counterparty risk stress testing and stress test scenario development.
• Experience 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.
• Experience using market-based risk indicators, including equity and debt-linked default probability models.
• Experience using fundamentals-based early warning risk indicators, including accounting-based distress prediction models.
• Experience conducting predictive financial institution insolvency analysis.
• Experience reviewing global post-financial crisis approaches to financial institution resolution planning.

Nice To Haves

• Professional Risk Managers' International Association certifications: Associate Professional Risk Manager, Credit and Counterparty Manager, Market, Liquidity and Asset Liability Management Risk Manager.
• Project Management Institute: Portfolio Management Professional.

Responsibilities

• Designs and implements strategies to monitor risk across all supervised entities.
• Oversees daily surveillance operations to identify and track risk and performance issues.
• Ensures surveillance approaches remain flexible to evolving market and regulatory conditions.
• Gathers and integrates data from multiple sources to spot trends and emerging risks.
• Partners with data and analytics teams to support risk analysis and reporting.
• Ensures surveillance data is accurate, complete, and actionable.
• Leads real-time detection and response to risk incidents or irregularities.
• Coordinates with examiners and CPCs to quickly mitigate risks.
• Establishes clear escalation and resolution protocols.
• Prepares regular reports summarizing key risks and recommended actions.
• Ensures reports are clear, strategic, and meet regulatory standards.
• Maintains documentation of surveillance activities and decisions.
• Works with exam teams and CPCs to align surveillance with DFS priorities.
• Supports broader risk management efforts by sharing findings and insights.
• Provides regular updates to senior leadership on emerging risks.
• Oversees tools used for surveillance and ensures they meet operational needs.
• Evaluates new technologies to enhance monitoring and reporting capabilities.
• Keeps systems adaptable to monitor diverse risk types across entities.
• Identifies ways to streamline surveillance processes for better efficiency.
• Leads improvements in data collection, analysis, and reporting workflows.
• Develops SOPs and best practices to guide surveillance operations.

Benefits

• Public Service Loan Forgiveness eligibility.
• Potential for periodic salary increases.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Industry: Executive, Legislative, and Other General Government Support
• Education Level: Bachelor's degree
• Number of Employees: 51-100 employees