JOB TITLE: DIRECTOR, COMPLIANCE OFFICE, BANKING AND SECURITIES

JOB CODE: 03255

DEFINITION: This is highly responsible managerial work directing the statewide regulatory compliance program for non-depository financial institutions regulated by the Department of Banking and Securities.

The employee in this job is responsible for planning, directing, implementing, and administering a statewide program of regulatory compliance for non-depository institutions, which include, but are not limited to, mortgage bankers and brokers, check cashers, installment sellers, and consumer discount companies. Work involves managing regulatory compliance and enforcement activities to ensure that non-depository institutions are in compliance with state regulatory and consumer protection statutes and regulations. Work includes directing the activities of a staff involved in working with non-depository companies to resolve deficiencies in operations or illegal or unethical practices identified through examinations; assisting companies in developing remedial plans to correct deficiencies or discrepancies; and, when appropriate, issuing enforcement actions. Work also involves reviewing, analyzing, developing, and implementing policies, standards, and procedures for the compliance and regulation of non-depository financial institutions in the Commonwealth. Supervision is exercised over a professional and administrative staff. Work is performed independently and is reviewed by an agency executive through the analysis of reports, conferences, and evaluation of overall program effectiveness.

EXAMPLES OF WORK: (NOTE: The examples of work are representative of the work, but every position classified to this job may not perform all examples of work listed. Conversely, this is not an all-inclusive list of work examples.):

•Directs the compliance activities of state licensed non-depository financial institutions.

•Serves as liaison between the Department and non-depository financial institutions, trade associations, and other regulatory agencies on compliance-related issues.

•Directs efforts to correct the deficiencies in operations of non-depository companies.

•Recommends the development and implementation of policies, regulations, and legislation affecting the licensing of non-depository institutions in the commonwealth.

•Develops, implements, and administers program policies, standards, and procedures for the regulatory compliance and supervision of non-depository financial institutions.

•Oversees the issuance of enforcement actions to effect remedial action by non-depository financial companies to correct deficiencies identified through regular and special examinations or investigations or by other means.

•Oversees the review and acceptance or rejection of proposals or plans fromcompanies to correct deficiencies in operations or violations of laws, rules, or regulations.

•Meets and confers with officers and directors of non-depository financial institutions,trade and industry groups, and other regulatory agencies to discuss examination findings, compliance issues, and problems.

• Analyzes proposed legislation with the potential to affect non-depository institutions and makes recommendations to the executive staff.

• Conducts special studies related to non-depository financial institution regulations and compliance for review by the Deputy Secretary and other executive staff.

• Responds to internal and external inquiries regarding program activities.

• Performs the full range of supervisory duties.

• The employee in this job may participate in the performance of subordinates' work consistent with operational or organizational requirements.

• Performs related work as required.

ENTRY LEVEL KNOWLEDGES, SKILLS, AND ABILITIES:

• Knowledge of accounting principles and best practices.

• Knowledge of procedures, practices, and records employed in the operation of non-depository financial institutions.

• Knowledge of compliance programs for non-depository financial institutions.

• Knowledge of financial statements of non-depository financial institutions.

• Knowledge of federal and state laws and regulations governing operations of non-depository financial institutions.

• Knowledge of examination report requirements and acceptable standards for internal audit reports.

• Knowledge of the use and functionality of Microsoft Office Suite software.

• Ability to analyze, interpret, and apply laws, rules, and regulations.

• Ability to communicate effectively in writing.

• Ability to communicate effectively orally.

• Ability to establish and maintain effective working relationships.

FULL PERFORMANCE KNOWLEDGES, SKILLS, AND ABILITIES: (NOTE: These are expected of an employee performing the work of this job at the full performance level. These may not be used for merit system evaluation or examination purposes and are not position-specific performance standards.):

• Knowledge of commonwealth budgeting policies and procedures.

• Knowledge of the principles and practices of employee supervision.

• Ability to plan, assign, evaluate, and direct the work of staff.

MINIMUM EXPERIENCE AND TRAINING: (NOTE: Based on the Entry Level Knowledges, Skills, and Abilities):

One year of experience as a Financial Institution Enforcement Administrator (commonwealth title) or Senior Non-Depository Financial Institutions Examiner (commonwealth title);

or

Five years of professional experience in the review and examination or investigation of non-depository financial institution records and operations for conformance to laws, rules, and regulations; and a bachelor’s degree which includes nine college credits in accounting, finance, economics, or a closely related field;

or

An equivalent combination of experience and training which includes nine college credits in accounting, finance, economics, or a closely related field.