Principal Financial Examiner

State of Connecticut - Department of Banking; Hartford (CT); Hybrid; USD 120,000 - 160,000; Full time

Benefits offered by this job

Professional growth opportunities

Healthy work-life balance

Job summary

The State of Connecticut Department of Banking in Hartford seeks a Principal Financial Examiner to lead and supervise examiners, oversee complex bank examinations, and review high-stakes investigation reports. The role provides guidance to regulators and industry, helps develop division policies, and may involve testifying in proceedings.

This hybrid, full-time position offers telework eligibility under the policy and opportunities for staff development andcareer advancement within the banking

Qualifications

• Eight (8) years of experience regulating financial entities.
• One (1) year at an advanced working level handling the most difficult examinations and investigations.
• College training may substitute for General Experience: 15 semester hours = 1/2 year, up to four years for a Bachelor's degree.

Responsibilities

• Assigns roles and provides guidance to a team of examiners conducting non-routine examinations or investigations.
• Ensures timely and accurate completion of work.
• Recommends and supports exam or investigation findings.
• Develops and recommends procedures within assignment area.
• Acts as liaison with regulators, senior management, and agency managers.
• Reviews or conducts specialized portions of exam or investigation.
• Assesses financial condition and regulatory compliance by analyzing team work.
• Conducts enforcement activities including documentation of violations and settlements.

Skills

Oral communication

Written communication

Interpersonal skills

Negotiation

Computer skills

Supervisory ability

Regulatory knowledge

Education

Bachelor's degree

Master's degree preferred

CPA licensure as substitute

Job description

Introduction

The State of Connecticut, Department of Banking (DOB), is accepting applications from current agency employees for the position of Principal Financial Examiner.

WHAT WE OFFER

• Professional growth and development opportunities.
• A healthy work/life balance to all employees.

POSITION HIGHLIGHTS

• Full time, 40 hours per week
• Monday through Friday
• First shift
• Located at 280 Trumbull Street in Hartford, CT
• This hybrid position is eligible to apply for telework, in accordance with the Telework Policy.

THE ROLE

• Act as a working supervisor for other examiners.
• Lead complex and highly visible examinations.
• Review examination reports including the most complex examinations.
• Review reports of investigations, including the most complex and time consuming investigations when needed.
• Provides information and guidance to regulators, industry and public on areas of expertise.
• Assist with developing and implementing division policy and operating procedures to gain operational efficiencies.
• Train less experienced examiners.
• Assist the Banking Department Manager with staff evaluations including annual performance appraisals.
• Help facilitate resolutions of consumer complaints.
• May work with prosecuting officials and testify in court or administrative hearings with regard to examinations and investigations.
• Recommend disciplinary action against regulated entities as appropriate.

WHO WE ARE

The Department of Banking (DOB) mission is the primary state regulator for state-chartered banks and credit unions, securities, and consumer credit. Its mission is to protect users of financial services from unlawful or improper practices by ensuring regulated entities and individuals adhere to state banking, consumer credit and securities laws.

The Department accomplishes this through regular, thorough, and cost-effective examinations of the entities it supervises. The Department also engages the public and other stakeholders through a variety of media platforms, educational outreach initiatives, and press communications.

Purpose of job class (NATURE OF WORK)

In the Department of Banking this class is accountable for acting as a working supervisor for other examiners in the most difficult, complex and sensitive examinations and investigations of the financial entities regulated by the Department of Banking.

EXAMPLES OF DUTIES

• Assigns roles and tasks and provides guidance to a team of examiners conducting non-routine examinations or investigations of banks, credit unions, broker-dealers, investment advisers, mortgage companies, consumer lenders and other financial entities.
• Ensures timely and accurate completion of work.
• Recommends and supports exam or investigation findings.
• Develops and recommends procedures within assignment area.
• Acts as liaison with other regulators, entity’s senior management and agency managers.
• Reviews or conducts specialized portions of exam or investigation.
• Assesses financial condition and/or regulatory compliance by reviewing, analyzing and consolidating team assignments.
• Conducts enforcement activities including documentation of violations, recommending corrective action, negotiating settlement terms, working with other regulators and participating in hearings.
• Communicates with entity’s senior management to review issues and findings, prepares exam and investigation reports.
• Trains less experienced examiners.
• Provides information and guidance to regulators, industry and public on areas of expertise.
• May work with prosecuting officials and testifies in court or administrative hearings with regard to examinations and investigations.
• May conduct or assists in conducting performance evaluations.
• Performs related duties as required.

KNOWLEDGE, SKILL AND ABILITY

• Considerable knowledge of the organization, operations and business practices of financial entities such as banks, credit unions, trust companies, broker-dealers, investment advisers, mortgage companies and other non-bank grantors of credit.
• Statutes and regulations applicable to entities.
• Principles and practices of accounting, auditing and finance.
• Regulatory and investigative procedures and techniques.
• Considerable oral and written communication skills.
• Interpersonal skills.
• Negotiation skill.
• Ability to utilize computer software.
• Supervisory ability.

MINIMUM QUALIFICATIONS - GENERAL EXPERIENCE

Eight (8) years of experience in the regulation of financial entities or in accounting, auditing, banking or finance.

NOTE: Financial entities are defined as domestic and international banks, credit unions, broker-dealers, investment advisers, mortgage companies and consumer lenders.

MINIMUM QUALIFICATIONS - SPECIAL EXPERIENCE

One (1) year of the General Experience must have been in an advanced working level class performing the most difficult examinations and investigations of financial entities.

NOTE: For state employees this experience is interpreted at the level of an Associate Financial Examiner.

MINIMUM QUALIFICATIONS - SUBSTITUTIONS ALLOWED

College training may be substituted for the General Experience on the basis of fifteen (15) semester hours equaling one-half (1/2) year of experience to a maximum of four (4) years for a Bachelor’s degree.

A Master’s degree in business, accounting, finance or a closely related field may be substituted for one (1) additional year of the General Experience.

Licensure or certification as a Certified Public Accountant may be substituted for one (1) additional year of the General Experience.

PREFERRED QUALIFICATIONS

• Experience working as an Asset Manager on safety and soundness examinations, including using the Alert File.
• Experience in a specialty area of safety and soundness examinations, such as Information Technology (IT), Bank Secrecy Act (BSA), Trust, or Compliance.
• Experience serving as an Examiner-in-Charge or Asset Manager on safety and soundness examinations of entities supervised by the department.
• Experience examining entities chartered by the department as innovation banks.
• Experience training examiners in safety and soundness examination roles, including Examiner-in-Charge and Asset Manager.

SPECIAL REQUIREMENTS

• Incumbents in this class may be required to travel.
• Incumbents in this class may be required to possess and retain a valid Motor Vehicle Operator's license.

AN AFFIRMATIVE ACTION/EQUAL OPPORTUNITY EMPLOYER

The State of Connecticut is an equal opportunity/affirmative action employer and strongly encourages the applications of women, minorities, and persons with disabilities.

ACKNOWLEDGEMENT

As defined by Sec. 5-196 of the Connecticut General Statutes, a job class is a position or group of positions that share general characteristics and are categorized under a single title for administrative purposes. As such, a job class is not meant to be all inclusive of every task and/or responsibility.