JOB TITLE: SECURITIES OFFERINGS ANALYST 2

JOB CODE: 04680

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

DEFINITION: This is advanced professional work in the review and analysis of securities offerings regulated by the Department of Banking and Securities.

An employee in this job performs comprehensive reviews of all types of registration, exemption, and notice filings of securities to be sold in Pennsylvania to determine compliance with statutes, regulations, statements of policy, and guidelines. Work includes reviewing filings to ensure completeness, accuracy, and compliance with the requirements for exemption, registration, or notice filings; and determining if filings provide full disclosure and contain no false or misleading statements. Work also includes working effectively with Department staff and counsel, as well as contact with securities issuers and their representatives to explain and discuss requirements for registration, exemptions, and notice filings and to obtain compliance and resolve issues arising from reviews; developing commentary or deficiency letters to issuers; preparing recommendations for staff no-action letters or discretionary Departmental action; and conducting research into specific securities, business, and financial issues and preparing reports of findings and recommendations. Legal direction, advice, and interpretations are provided by Department legal counsel. Work is performed independently and is reviewed by an administrative supervisor.

DISTINGUISHING CHARACTERISTICS:

• Work at this level is distinguished from the lower level job by the independent responsibility for performing in-depth reviews of complex securities offerings, which are generally characterized by nationwide issuance, large corporate structures, and complicated fee structures. An employee makes judgments and determinations based on the totality of the securities filings and signs off on filings that the Director of Corporation Finance is not statutorily required to sign.

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 all types of filings for registration, exemption from registration of securities, and notice filings 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.

• Reviews all types of filings to determine if all technical and legal requirements are met, full disclosure of all material facts is made to investors, and filings contain no misleading statements or information that would tend to defraud investors.

• Prepares 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.

• Responds to public inquiries to explain statutes, regulations, statements of policy, and guidelines; and confers with higher level staff in areas of extreme technical difficulty.

• Reviews post-effective reports to determine whether the proceeds from the securities sold were used in a manner consistent with that represented to the Department and investors in the offering documents.

• Provides information, documents, and summaries regarding filings or analyses to law enforcement agencies or other regulatory agencies and makes requests for similar information from these organizations.

• Contacts other state securities agencies to discuss common problems, issues or particular securities registration, exemption, or notice filings applications and makes recommendations for actions.

• Conducts research regarding the application of statutes, regulations, statements of policy, and guidelines as well as implications of changes made to Federal securities law and regulations.

• Performs the full range of supervisory duties.

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

• Knowledge of business organization and practices and corporate formation.

• Knowledge of the principles and practices of corporate finance.

• Knowledge of the laws related to corporate financing.

• Knowledge of financial analysis.

• Knowledge of data analysis methods and techniques.

• Knowledge of report writing principles and practices.

• 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.

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

• One year as a Securities Offerings Analyst 1;

or

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

or

• An equivalent combination of experience and training.