State of Connecticut Executive Branch

Banking Department Manager (1143AR)

$49.17-$67.03 Hourly / $3,933.07-$5,362.38 BiWeekly /
$102,653.00-$139,958.00 Yearly

PURPOSE OF JOB CLASS (NATURE OF WORK)

In the Department of Banking this class is accountable for managing the staff and operations of a major sub-unit or regulatory program of a Division.

GUIDELINES FOR JOB CLASS USE

This class is used in one of two ways:
  • Within the Financial Institutions and the Securities and Business Investment Divisions, this class manages a major and/or large subunit responsible for examinations, investigations, and/or licensing and registration of regulated entities. 
  • Within other department divisions, this class is used to manage day-to-day operations of one or more regulatory program(s), such as examinations, investigations, consumer services and/or licensing and registration of regulated entities. This class should be utilized in agency smaller divisions where there is no Assistant Division Director.

SUPERVISION RECEIVED

Receives administrative direction from a Division Director or other administrative official of higher grade.

SUPERVISION EXERCISED

Manages professional and other support staff of the unit.

EXAMPLES OF DUTIES

  • Manages staff and operations unit; 
  • Coordinates, prioritizes, plans and manages examinations, investigations, licensing, consumer services and/or other regulatory programs;
  • Formulates goals and objectives;
  • Develops or assists in development of related policy;
  • Develops and recommends operating procedures;
  • Coaches and guides for improvement;
  • Oversees the ongoing development of staff by ensuring that skills are continuously enhanced;
  • Evaluates staff;
  • Interprets and provides guidance to staff on pertinent banking laws and regulations;
  • Recommends new or revised legislation; 
  • Assesses the ability and performance of management and the compliance and soundness of regulated entities;
  • Assesses compliance and identifies violations of law of regulated entities;
  • Maintains a comprehensive understanding of the regulatory process;
  • Coordinates investigations of dishonest or unethical business practices and other violations of law;
  • Facilitates resolutions of consumer complaints;
  • Proposes and negotiates stipulation agreements;
  • Prepares civil or criminal referrals outlining alleged violation of law;
  • Reviews and makes recommendations of comprehensive reports of examination, investigation, consumer complaint and related activity;
  • Recommends disciplinary action against regulated entities as appropriate;
  • Coordinates joint exams or investigations with federal regulators and/or international regulatory agencies;
  • Attends meetings and maintains communication with officials of regulated entities regarding regulatory program and issues;
  • Oversees the review of mergers, acquisitions, conversions, and the licensing and registration of regulated entities;
  • Assists in preparation of program budget;
  • Implements initial training programs for new employees consisting of on-the-job training and formal education;
  • Performs related duties as required.

KNOWLEDGE, SKILL AND ABILITY

  • Considerable knowledge of
    • and ability to apply management and LEAN principles and techniques;
    • relevant state and federal laws and regulations;
    • regulatory and investigative procedures and techniques;
    • international regulatory standards;
    • principles and practices of accounting and auditing;
  • Knowledge of the organization and operation of financial institutions and other entities operating under the supervision of the Department of Banking;
  • Considerable
    • interpersonal skills;
    • oral and written communication skills;
  • Considerable supervisory ability.

MINIMUM QUALIFICATIONS - GENERAL EXPERIENCE

Nine (9) years of professional experience involving one or more of the following areas: regulation of financial institutions or other entities regulated by the Department of Banking; accounting, auditing or finance work in financial institutions regulated by the Department of Banking.

MINIMUM QUALIFICATIONS - SPECIAL EXPERIENCE

Two (2) years of the General Experience must have been in advanced working/lead capacity over professional staff.

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 equalling 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.

SPECIAL REQUIREMENTS

Incumbents in this class may be required to travel.

JOB CLASS DESIGNATION

Classified/Competitive

OCCUPATIONAL GROUP

(01)-Accounting/Auditing

BARGAINING UNIT

(16)-ADMIN & RESID (P-5)

EEO

(2)-Professional

SALARY INFORMATION

AR2 65

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.

CANCELLATION CLAUSE

This replaces the existing specification for the class of Banking Department Manager in Salary Group AR2 65 approved effective April 29, 2021. (Reviewed for content, revised to modernize format and add Acknowledgement section) Final No. 24-022

EFFECTIVE DATE

02/06/2024
CLASS: 1143AR; REV: 2/6/2024;