Examiner – Licensing Branch
FINANCIAL INSTITUTIONS EXAMINER II (Licensing)
General description of functions and responsibilities:
Function of this organizational unit: Evaluates and analyzes administrative applications and license renewal filings submitted by financial institutions (banks, savings banks, savings and loan associations, trust companies, financial services loan companies, credit unions, interstate banks and foreign banks), escrow depositories, money transmitters, mortgage servicers, mortgage loan originators and mortgage loan originator companies. Administers off-site supervisory activities related to reporting and filing requirements of regulated entities. Also responds to inquiries and investigates complaints.
Purpose of the position: As assigned, position holder is engaged primarily in the review of administrative applications and license renewal filings relating to financial institutions, escrow depositories, money transmitters and mortgage servicers, and as needed, in the review of applications relating to mortgage loan originators and mortgage loan originator companies. Also performs other off-site supervisory activities related to reporting and filing requirements of regulated entities, and handles inquiries and complaints.
a. Independently conducts the review and investigation of all types of administrative applications and filings of a complex nature (i.e., applications for branches, new powers, mergers, acquisitions of control, initial licensing, de novo financial institutions, regardless of the institution’s size, complexity or condition). The applications and filings may require an analysis of factors such as the financial history and condition of the applicant; the general character of management; the adequacy of its capital structure; its future prospects including probable earnings; the effect of the transaction on competition; the convenience and needs of the community to be served; whether or not the corporate powers are consistent with state law; and whether or not a field investigation is required.
b. Prepares report of analysis and investigation that details relevant facts and data pertinent to statutory and regulatory criteria for approval, and includes an opinion as to satisfaction of statutory and regulatory criteria. A negative report must be fully explained and supported and, where possible, should indicate whether and how the situation may be corrected. The report should include a general recommendation relative to the Commissioner’s final decision on the application or filing and, if appropriate, a list of conditions which should be imposed.
c. When not independently conducting, or supervising or directing the review and investigation of an application or filing, the position holder assists in the review and investigation and may be assigned by the examiner-in-charge the responsibility for supervising, directing, or singly handling the evaluation of a particular aspect of the application or filing.
d. Monitors receipt of and reviews and analyzes periodic and ad hoc reports (i.e. audited financial statements, financial institution holding company registration statements, continuation certificates for bonds and insurance) filed by financial institutions and other entities regulated by the Division that are required by state law or rule, by orders of the Commissioner, or by conditions imposed in writing by the Commissioner to determine compliance with laws, rules, orders or conditions and to detect any irregularities or adverse trends, practices or conditions that may warrant correction, early field examination, or prompt supervisory action. Prepares report identifying any irregularities or adverse trends, practices or conditions and makes recommendations regarding the need to develop specific additional information, schedule special field examinations or investigations, or take prompt supervisory action.
e. Singly or with one or more examiners assisting, conducts or supervises or directs special projects designed to meet the Division’s off-site monitoring and supervision of financial institutions and other entities regulated by the Division, or to gather statistical information. When not supervising or directing a special project, the position holder assists in the review and analysis and may be assigned the responsibility for supervising, directing or singly handling a particular aspect of the project.
f. Handles telephone, walk-in and written inquiries regarding the regulation, licensure, examination and supervision of financial institutions and other entities regulated by the Division. Prepares correspondence responding to written inquiries.
g. Handles written complaints. Prepares correspondence transmitting complaints to financial institutions and other entities regulated by the Division or to another appropriate agency if respondent is not regulated by the Division. Reviews adequacy of responses and determines whether a violation of law or rule has occurred. Prepares correspondence requesting additional information as needed or closing out the complaint. As warranted, makes recommendations regarding the need to schedule special field examinations or investigations, or take prompt supervisory action.
h. Performs other assignments as needs of the Division dictate.
Salary from $47,000 to $64,000 annual; dependent on experience.
Nature of appointment:
Projected appointment date: As soon as possible
Civil service/exempt: Exempt
Duration position needs to be filled: Permanent
Education: Graduation from an accredited college or university. Coursework that included at least twelve (12) semester hours in accounting and/or auditing is highly desirable.
Two years general experience in accounting or auditing. Two years specialized professional experience which provided the position holder knowledge of the business operations of financial institutions. Excess specialized experience may be substituted for the general experience requirement.
Excess specialized or financial institution examining experience which required the knowledge and application of generally accepted professional accounting and auditing principles, theory and practice for the purposes of examining the business operations of financial institutions may be substituted for the general experience requirement on a year-for-year basis.
Legislative experience which involved dealing with community issues and constituents is also highly desirable, as well as professional experience in the practice of law or in the interpretation and application of laws and rules which are applicable to financial institutions and which relate to consumer protection, civil rights, and other matters of public interest is preferred.
Quality of Experience:
Possession of the required amount of experience will not in itself be accepted as proof of qualification. The applicant’s overall experience must have been of such scope and responsibility as to conclusively demonstrate that the applicant has the ability to perform the duties of the position.
Applicant must be proficient in using the Microsoft office suite of tools.