JOB TITLE: SENIOR SECURITIES OFFERINGS ANALYST, BANKING AND SECURITIES

JOB CODE: 04690

SERIES NATURE OF WORK: The Securities Offerings Analyst job series describes work in the review and analysis of securities offerings.

DEFINITION: This is highly advanced professional work in the review and analysis of highly complex securities offerings.

An employee in this job performs comprehensive reviews of novel or highly complex and legally intricate securities offerings, exemptions, and notice filings to be sold in Pennsylvania. Work includes determining compliance with statutes, regulations, statements of policy, and specific North American Securities Administrators Association (NASAA) guidelines. Work involves detailed reviews of prospectuses, corporate agreements, and corporate charters; reviews of registration statements relating to public offerings of debt securities by non-profit, for-profit, and Small Company Offering Registration (SCOR) organizations; the preparation of comment letters to issuers or their counsel on discrepancies or disclosure issues; and determining if filings provide full disclosure and contain no false or misleading statements. Work also involves engaging in detailed legal discussions with securities issuers and their legal counsel and representatives to explain and discuss requirements for registration, exemptions, and notice filings, and to obtain compliance and resolve issues arising from reviews; seeking legal direction, advice, and interpretation for these issues from department legal counsel as appropriate; developing commentary or deficiency letters to send to issuers; researching and preparing no-action letters based on evaluation of factual material and legal arguments; conducting research into specific securities, business, and financial issues; and preparing reports of findings and recommendations. This position may also serve as a lead worker over lower level analysts. Work is performed with a high degree of independence and reviewed by an administrative supervisor.

   DISTINGUISHING CHARACTERISTICS:

• Work is distinguished from the lower level by the independent responsibility for performing in-depth reviews of highly complex securities offerings, including rescission offers, SCOR offerings, peer to peer lending, token offerings, and new filings which have no precedent for review. Offerings at this level involve sophisticated security transactions that have been drafted by securities attorneys and have been filed on a federal level with the U.S. Securities and Exchange Commission (SEC).

• Work may involve functioning as a lead worker for lower level Securities Offerings Analysts on complex filings, such as real estate investment trusts (“REITS”) and commodity pools.

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.):

• Reviews and analyzes highly complex and legally intricate registration statements to determine if filings are complete, accurate, and filed in accordance with the provisions of the law; and whether prior violations have been fully addressed.

Commonwealth of Pennsylvania

• Reviews highly complex filings, including Rescission Offers, SCOR, and public offerings of debt securities to conduct a thorough analysis of the offering and its underlying transaction, and to ensure compliance with Pennsylvania laws and NASAA Guidelines.

• Reviews new filings, such as peer to peer lending or token and crypto currency offerings which involve a thorough and extensive analysis, evaluation, and investigation of material; prepares report of findings and recommendations.

• Prepares and authorizes recommendations for action by the department for registrations, exemptions, or notice filings; and prepares supporting documentation to substantiate issuances or orders denying or revoking an exemption or denying, suspending, or revoking a registration.

• Reviews and acts as a lead analyst on large filings such as REITs, commodity pools, and oil and gas programs to ensure compliance with statutes, policies and regulations.

• Performs related work as required.

ENTRY LEVEL KNOWLEDGES, SKILLS, AND ABILITIES:

• Knowledge of the statutes and regulations governing the review and analysis of securities registration, exemption, and notice filings.

• Knowledge of business organization and corporate formation principles and practices.

• Knowledge of the laws, principles, and practices related to corporate finance.

• Knowledge of financial and other data analysis methods and techniques.

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

• Ability to analyze and interpret written material.

• Ability to communicate effectively orally.

• Ability to communicate effectively in writing.

• 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 evaluated by the State Civil Service Commission or used for Civil Service examination purposes and are not position-specific performance standards.):

• Knowledge of the North American Securities Administrators Association’s (NASAA) Guidelines and Statements of Policy.

• Knowledge of federal laws and regulations pertaining to securities.

• Knowledge of agency programs and projects.

Commonwealth of Pennsylvania

• Ability to gather, correlate, review, and analyze facts for public offerings of debt securities.

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

• Two years as a Securities Offerings Analyst 2 (commonwealth title);

or

• Four years of professional experience in financial investigation, financial analysis, or corporate finance, two of which are related to securities filings, and a bachelor’s degree;

or

• An equivalent combination of experience and training.