1/12/04 03310

FINANCIAL INSTITUTION ENFORCEMENT ADMINISTRATOR

DEFINITION: This is responsible professional work coordinating the supervision, enforcement and monitoring programs for depository and non-depository financial institutions on a statewide basis.

An employee in this class is responsible for overseeing and enforcing compliance with state laws, regulations, and rules governing the operation of financial institutions. Employees work with financial institutions to resolve discrepancies or deficiencies in operations identified through Reports of Examinations or through on/offsite monitoring. Employees assist institutions in implementing satisfactory corrective action, or recommending appropriate departmental action to protect investors, creditors, and the general public. Employees explain and interpret changes in laws, regulations, or policies affecting financial institution operations to institution heads, boards, and officials. Work also involves recommending and implementing policies, regulations, standards, and procedures for the supervision and regulation of financial institutions in the Commonwealth. Work is performed under the general direction of the Director, Bureau of Supervision and Enforcement who reviews work through conferences, written reports, and an evaluation of results.

EXAMPLES OF WORK: Coordinates the supervision, surveillance, and regulatory compliance of state chartered financial institutions for conformance with departmental rules, regulations, and state statutes.

Interprets laws, policies, rules, and regulations affecting the operations and practices of financial institutions.

Reviews and analyzes financial institution examination reports and results of on/offsite monitoring of operations and summarizes and interprets findings to institution officials, directors, legal counsel, and staff.

Identifies the need for corrective action to ensure compliance with laws, regulations, and rules.

Develops recommendations and suggested courses of action to correct deficiencies in operations or violations of rules and regulations.

Reviews and determines appropriateness of proposals from financial institutions to improve financial conditions or to correct violations of laws, rules, or regulations.

Monitors actions of financial institutions to assess the efforts of the institutions in effecting satisfactory corrective action.

Consults with legal counsel and with financial institution solicitors on the disposition of findings of violations of law, rules, and regulations. Coordinates drafting of memoranda of understanding, consent orders, fine letters or other documents to be used in hearings or other legal actions.

Conducts special studies related to financial institution supervision and enforcement and determines trends, problems, and issues in the industry.

Plans and conducts conferences and meetings with officers and directors of financial institutions.

Recommends changes in policies, laws, regulations, and rules to improve the supervision and enforcement of financial institutions.

Prepares analyses of new practices or issues in the financial depository institution and/or non-depository industry for Department management consideration and review.

Performs related work as required.

REQUIRED KNOWLEDGES, SKILLS, AND ABILITIES: Knowledge of the concepts, theories, principles, and practices of accounting, fund accounting, single and double entry accounting, cost accounting, analysis of financial statements, and systems of accounting.

Knowledge of auditing standards, techniques, and practices related to the examination of financial statements and operations of financial institutions regulated by the Department of Banking.

Knowledge of State and Federal laws and regulations governing operations of financial institutions.

Knowledge of procedures, practices, and records employed in the operations of financial institutions.

Knowledge of the history, precedents, nature, scope, and objectives of state regulation of financial institutions and the controlling laws and regulations.

Knowledge of the background and application of fiduciary laws and practices.

Knowledge of management and administrative principles and practices.

Knowledge of depository institution rating systems and rating methodology.

Knowledge of financial institution examination report requirements.

Knowledge of acceptable standards for internal audit reports.

Knowledge of electronic data processing procedures, equipment, and software normally used in financial institutions.

Ability to plan, implement, and administer statewide financial institution supervision and enforcement programs.

Ability to analyze financial data and reports for compliance with state requirements and to develop corrective measures.

Ability to interpret and apply laws, rules, regulations, policies, and procedures affecting the safety and soundness of financial institutions and the Department.

Ability to detect changing trends resulting from examination reports and financial reports submitted by financial institutions .

Ability to operate and utilize a personal computer in the analysis of records and generation of reports.

Ability to analyze policy, regulatory, and administrative problems and issues and to make recommendations for their solution.

Ability to conduct studies related to activities of financial institutions and prepare reports and recommendations.

Ability to express thoughts clearly and concisely, orally and in writing.

Ability to speak effectively before large groups.

Ability to establish and maintain effective working relationships with officials and representatives of financial institutions, agencies, trade associations, legislators, and the general public.

MINIMUM EXPERIENCE AND TRAINING: Three years of experience as a Financial Institutions Examiner;

                                                                                                                       or

Four years of experience in examining trust company, bank, savings bank, credit union, savings and loan association, secondary mortgage lender, consumer discount company, installment seller, pawnbroker, accelerated mortgage payment provider, credit services loan broker, loan correspondent or other financial institution records and operations for conformance to laws, rules, and regulations; and a Bachelor's degree in business administration, finance, economics, accounting, public administration or a related field;

                                                                                                                     or

Five years of internal audit experience reviewing, evaluating, and drafting operating procedures for a financial institution; and a Bachelor's degree in business administration, finance, economics, accounting, public administration, or a related field;

                                                                                                                    or

An equivalent combination of experience and training which included fifteen credits in business administration, finance, economics, accounting, public administration or a related field.