JOB TITLE: DIRECTOR, BUREAU OF SECURITIES COMPLIANCE AND EXAMINATIONS,

BANKING AND SECURITIES

JOB CODE: 03345

DEFINITION: This is highly responsible professional and managerial work in directing the statewide program for compliance and regulatory enforcement for investment and securities entities regulated by the Department of Banking and Securities.

The employee in this job is responsible for planning and directing the examination, investigation, regulatory enforcement, and compliance of agents, broker-dealers, investment advisers, and securities industry firms. An important aspect of the work involves developing and implementing policies, rules, and procedures for the bureau’s compliance and regulatory enforcement activities. Work includes reviewing, analyzing, and recommending new legislation or revisions to existing legislation that affects the regulatory compliance of subject entities. Work also includes the interpretation and enforcement of state laws, rules, regulations, and policies for the operation and continued compliance of these entities; and the responsibility for developing programs and directing efforts to correct or prohibit activities that violate Pennsylvania securities laws through examinations or monitoring programs. Supervision is exercised over professional and administrative staff. Work is performed independently and is reviewed by the Deputy Secretary through conferences and achievement of statewide goals and objectives.

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 statewide examination, investigation, and enforcement activities related to investment and securities entities.

• Develops, recommends, and implements policies, goals, and objectives for the bureau.

• Recommends new or revised legislation affecting the examination, investigation, regulatory compliance, and enforcement of regulated entities.

• Provides leadership in the development and interpretation of laws, policies, regulations, and rules regarding best practices and operations.

• Directs and approves special examinations or investigations when necessary.

• Directs the review and evaluation of examination results related to organizational operations and practices and discusses findings with company officials.

• Directs the review of corrective action proposals or plans from regulated entities to ensure deficiencies and violations are addressed.

• Conducts meetings with regulated entities and their attorneys to discuss applications, violations, and related issues.

• Advises the Secretary and Deputy Secretary for Securities on matters related to compliance and regulatory enforcement policies and issues.

• Represents the Department at various speaking engagements.

• Develops and recommends budget and management requirements for effective program operations, and controls Bureau operations for conformity with commonwealth management procedures.

• 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 laws and regulations governing the operations of agents, broker-dealers, investment advisers, investment adviser representatives, and securities industry firms.

• Knowledge of procedures, practices, and records employed in the operations of agents, broker-dealers, investment advisers, investment adviser representatives, and securities industry firms.

• Knowledge of accounting principles and practices related to the examination of financial statements and operations of investment and securities entities.

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

• Knowledge of the principles and practices of effective supervision.

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

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

• Ability to analyze and interpret written and numerical information.

• 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 auditing standards and practices for securities institutions regulated by the department.

• Ability to develop and implement policies and procedures for the Bureau of Securities Compliance and Examinations.

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

• Two years of experience as a Chief, Regional Office for Securities Compliance and Enforcement, Banking and Securities (commonwealth title);

or

• Eight years of professional experience in the review and examination of records and operations of investment agents, broker-dealers, advisers, adviser representatives, or securities industry firms for conformity with laws, rules, and regulations, including two years in a supervisory capacity 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 and two years in a supervisory capacity.