In the two years since Superintendent Adrienne A. Harris was confirmed by the Legislature, NYDFS has achieved record milestones for the people of New York. NYDFS has implemented 100 new amendments to the #insurance, #banking, and financial services laws; issued more than 60 pieces of guidance; and promulgated 31 new data-driven regulations. During this time, the Department has also secured $344.4 million in restitution for New York State consumers and health care providers. Under the direction of Superintendent Harris, the team at DFS has amended nation-leading #cybersecurity regulations, advanced policies to protect health insurance policyholders, create fairer check-cashing regulations, combat life insurance discrimination, strengthen virtual currency oversight, and address #climate risk in financial services. These milestones, among many more, are representative of DFS’s commitment to create a more equitable financial system for all New Yorkers. None of these accomplishments would be made possible without DFS’s dedicated staff, which is why the Superintendent is committed to attracting, retaining, and supporting expert talent. Since January 2022, the Department has hired and promoted more than 600 teammates. If you are interested in joining our team, click here: www.dfs.ny.gov/careers #careers #hiring
New York State Department of Financial Services
Financial Services
New York, New York 10,725 followers
Official LinkedIn account for the New York State Department of Financial Services.
About us
The Department of Financial Services supervises and regulates the activities of approximately 1,500 banking and other financial institutions with assets totaling more than $2.6 trillion and more than 1,400 insurance companies with assets of more than $4.7 trillion. They include more than 130 life insurance companies, 1,300 property/casualty insurance companies, about 100 health insurers and managed care organizations, and 300,000 individual insurance licensees, 122 state-chartered banks, 80 foreign branches, 10 foreign agencies, 14 credit unions, 13 credit rating agencies, nearly 400 licensed financial services companies, and more than 9,600 mortgage loan originators and servicers.
- Website
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https://www.dfs.ny.gov
External link for New York State Department of Financial Services
- Industry
- Financial Services
- Company size
- 501-1,000 employees
- Headquarters
- New York, New York
- Type
- Government Agency
- Founded
- 2011
Locations
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Primary
One State Street
New York, New York 10004-1511, US
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1 Commerce Plaza
Albany, New York 12210, US
Employees at New York State Department of Financial Services
Updates
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As DFS recognizes Good Care Month, we highlight insurance as an essential aspect of care. It's more than just a policy; it's your safety net for life's uncertainties. This month, take a moment to review your coverage needs. Investing in insurance is investing in your future. Take action today for a safer tomorrow. #GoodCareMonth www.dfs.ny.gov/consumers
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DFS is hiring! Under Superintendent Adrienne A. Harris, the Department has hired or promoted more than 800 team members since January 2022, including 139 financial services examiners. Take the first step to #JoinDFS by visiting the Department’s website and learn about opportunities across the agency: www.dfs.ny.gov/careers
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NEW: DFS Superintendent Harris Adopts Insurance Guidance to Combat Discrimination in Artificial Intelligence More here: https://on.ny.gov/4cSOYW8
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As part of an ongoing commitment to helping entities better understand and comply with the Part 500 Cybersecurity Regulation, the Department created two new resources for businesses. These tools help entities know if they qualify for an exemption from the regulation or if they qualify as a Class A business under the regulation. 500.19(a) Exemption Determination Tool: https://lnkd.in/gfriRsdc Class A Determination Tool: https://lnkd.in/gfriRsdc
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#DidYouKnow: New York State-regulated banking institutions are required to offer low-fee bank accounts that meet specific criteria, called “basic banking” accounts. Discover more about low-fee options, including products available in communities across the state, at https://lnkd.in/exrUNNng and share this post with your network to spread the word.
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DFS is hiring Financial Services Examiner Trainees for divisions across the Department, including in Banking, Insurance, Virtual Currency, and Cybersecurity. These traineeships are part of the NYS HELPS Program, which means no Civil Service examination is required for qualified candidates. Under Superintendent Adrienne A. Harris, DFS has hired 139 Financial Services Examiners, including the first class since 2018. Take the first step toward starting a career as a Financial Services Examiner at DFS: https://lnkd.in/eeWZuVPZ
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The newly released 2024 Starling Compendium features an "In Focus" interview with DFS Superintendent Adrienne A. Harris. In this comprehensive piece, Superintendent Harris discusses the Department's commitment to innovation, both internally with the adoption of supervisory technology and externally with DFS's work to ensure regulated entities can utilize the value of AI while minimizing the inherent risks. Read the feature at https://lnkd.in/eWnQEkYM.
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New York State Department of Financial Services reposted this
Superintendent NYS Department of Financial Services | former Special Assistant to President Obama for Economic Policy
After many years, the New York State Department of Financial Services was granted the authority to oversee PBMs thanks to Governor Hochul and the Legislature. We got right to work licensing and examining PBMs, and working on robust market conduct regulations. Our oversight is essential to ensuring fairer prescription drug pricing and transparency in the industry. With this authority, we can protect consumers and prevent anti-competitive practices within the pharmaceutical industry. #financialregulation #consumerprotection #prescriptiondrugs #healthcare
Important article in the The New York Times on the influence of pharmacy benefit managers. At DFS, we are committed to regulating PBMs and ensuring prescription drugs remain affordable and accessible for all New Yorkers. Learn more about the Department's purview: https://on.ny.gov/pbm Read the article here: https://lnkd.in/em6mVRXn
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DFS is seeking candidates for the Assistant Director, Financial Services Frauds Bureau, within the Consumer Protection and Financial Enforcement Division (CPFED). Find out more about this opportunity and apply today at www.dfs.ny.gov/careers. #JoinDFS
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