Virtual Currency Financial Crime Risk Associate

Location: Albany or NYC, New York, United States
Type: Full-time
Posted: 17.MAY.2022
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The Department of Financial Services (DFS) is seeking candidates for the position of Virtual Currency Financial Crime Risk Associate.


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

  • Reviews and processes the Bank Secrecy Act/Anti-money Laundering (BSA/AML) and related aspects of applications for licenses to engage in virtual currency business activity (“BitLicenses”) and for limited-purpose trust charters and/or other charters granted under the New York Banking Law for entities focusing on virtual currency-related business;
  • Explains deficiencies and needed features of BSA/AML and related policies, procedures, and programs of applicants clearly and concisely in written memoranda and in conferences with DFS colleagues and with applicants and their outside counsel;
  • Consults on, and possibly conducts, BSA/AML and related examinations and supervisory reviews of DFS-regulated virtual currency businesses;
  • Helps develop and enhance BSA/AML and sanctions-related supervisory guidance applicable to virtual currency business activity, including as it relates to blockchain intelligence, the Travel Rule, stablecoin networks, and other areas of heightened focus for virtual currency supervision;
  • Conducts analysis of suspicious activity, including referrals from internal sources, account activity monitoring, transaction monitoring, and onchain activity (blockchain analytics). Provides assistance in conducting investigations of suspicious activity and required documentation;
  • Serves as an expert resource on BSA/AML and related matters for all functions of the Virtual Currency Unit, including applications, examinations, and non-periodic supervision including the consideration of material-change-of-business requests;
  • Implements and enhances the Virtual Currency Unit’s internal financial crimes monitoring processes;
  • Assists in review and revision of BSA/AML- and sanctions-related examination policies and procedures, including first-day letters, work programs, and other related materials;
  • Maintains a good understanding of the BSA/AML laws, regulations, guidance, and best practices, including those relevant to BSA suspicious activity reporting and current money laundering schemes and investigative techniques required to detect such schemes within the virtual currency space.
  • Presents analyses and findings to colleagues and leadership at DFS, often making reasoned recommendations for agency action;
  • Participates in the setting and execution of DFS policy, particularly regarding matters that touch on BSA/AML, OFAC (Office of Foreign Assets Control), and related compliance; and
  • Other appropriate and occupationally related duties as assigned.


Preferred Skills:

Subject-matter expertise and/or experience in one or more of the following are not required, but are preferred:

  • Association of Certified Anti-Money Laundering Specialists: Certified Anti-Money Laundering Specialist, Advanced AML Audit Certification, Advanced Financial Crimes Investigations Certification
  • Association of Certified Financial Crime Specialists:  Certified Financial Crime Specialist
  • Association of Certified Fraud Examiners: Certified Fraud Examiner
  • American Bankers Association: Certified AML and Fraud Professional; ABA Certificate in BSA and AML Compliance; ABA Certificate in Fraud Compliance; Certified Regulatory Compliance Manager
  • CSBS: Certified Anti-Money Laundering Specialist
  • Demonstrated experience with and/or interest in virtual currency


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, Banking, Business, Business and Technology, Commerce, Criminal Justice, Finance, Economics, Econometrics, International or Public Affairs, Law, Statistics, or Mathematics and five (5) years of specialized experience in one (1) of the following of which two (2) years must have been at a supervisory level:

  • Evaluating financial institution financial crime risk (BSA/AML, CIP, OFAC/Sanctions, CTF) in a management, compliance or audit environment.
  • Developing and implementing financial crime risk management or compliance policies, programs and procedures.

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. 

Get More Details


Interested qualified candidates must submit a resume and letter of interest no later than June 17, 2022, to the email address listed below.  Please include (Box VCFCRASSOC-R&I-VC-10570) in the subject line of your email to ensure receipt of your application.  Email submissions are preferred.


Thomas Hurd


New York State Department of Financial Services
Office of Human Resources Management
One Commerce Plaza

99 Washington Avenue, Suite 301
Albany, NY 12257

All candidates that apply may not be scheduled for an interview.



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 and the accommodation would not constitute an undue hardship on the operations of the agency.

Pursuant to Executive Order 161, no State entity, as defined by the Executive Order, is permitted to ask, or mandate, in any form, that an applicant for employment provide his or her current compensation, or any prior compensation history, until such time as the applicant is extended a conditional offer of employment with compensation. If such information has been requested from you before such time, please contact the Governor’s Office of Employee Relations at (518) 474-6988 or via email at


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