State of Connecticut Executive Branch

Associate Financial Examiner (1148AR)

$43.26-$55.63 Hourly / $3,460.12-$4,450.04 BiWeekly /
$90,309.00-$116,146.00 Yearly

PURPOSE OF JOB CLASS (NATURE OF WORK)

In the Department of Banking this class is accountable for conducting the most difficult assignments in the examination and investigation of the financial entities regulated by the Department of Banking.

GUIDELINES FOR JOB CLASS USE

  • This is an advanced working level class and is distinguished from the working level by having principal responsibility for assignments of greater than average difficulty and complexity and/or having a high degree of industry or regulatory impact seventy-five (75%) percent of the time.
  • Examples of assignments at this level include: monitoring a portfolio of institutions; independently conducting investigations involving enforcement activities; conducting examinations or investigations requiring advanced expertise.

SUPERVISION RECEIVED

Receives general direction from an employee of higher grade.

SUPERVISION EXERCISED

May lead examiners of the same or lower grade and other staff as assigned.

EXAMPLES OF DUTIES

  • Independently conducts non-routine examinations and investigations of domestic and international banks, credit unions, broker-dealers, investment advisers, mortgage companies, consumer lenders and other financial entities;
  • Develops Risk Assessment Profiles and identifies issues and trends;
  • As a member of a team, independently conducts complex or specialized portions of exams or investigations;
  • Assesses financial condition and/or regulatory compliance by reviewing financial and operational practices, where documentation is complex and/or deficient;
  • Investigates complex or high-impact complaints to resolution;
  • Assesses apparent violations of applicable laws and contraventions of policy, develops documentation to support findings and recommends steps to address issues;
  • Communicates with entity’s senior management to review issues and findings;
  • Conducts enforcement activities such as drafting subpoenas, interviewing witnesses, conducting depositions, assisting in negotiating settlement terms and drafting compliance letters;
  • Provides information and guidance to other examiners, industry and public on complex or specialized issues;
  • Prepares exam and investigation reports and correspondence;
  • May train and/or lead less experienced examiners as assigned;
  • May work with prosecuting officials and testifies in court or administrative hearings with regard to examinations and investigations;
  • 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 and mortgage companies and other non-bank grantors of credit;
    • statutes and regulations applicable to financial entities;
    • principles and practices of accounting, auditing and finance;
  • Knowledge of regulatory and investigative procedures and techniques;
  • Skills
    • oral and written communication skills;
    • interpersonal skills;
  • Ability to utilize computer software.

MINIMUM QUALIFICATIONS - GENERAL EXPERIENCE

Seven (7) 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 advisors, mortgage companies and consumer lenders.

MINIMUM QUALIFICATIONS - SPECIAL EXPERIENCE

One (1) year of the General Experience must have been in a working level class independently performing a full range of tasks in the examination and investigation of financial entities.

NOTE: For state employees this experience is interpreted at the level of a 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.
  • Licensure or certification as a Certified Public Accountant may be substituted for one (1) additional year of the General Experience.

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.

JOB CLASS DESIGNATION

Classified/Competitive

OCCUPATIONAL GROUP

(01)-Accounting/Auditing

BARGAINING UNIT

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

EEO

(2)-Professional

SALARY INFORMATION

AR 26

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 Associate Financial Examiner in Salary Group AR 26 approved effective February 15, 2012. (Revised to modernize format and add Acknowledgement section) Final No. 23-128

EFFECTIVE DATE

06/05/2023
CLASS: 1148AR; EST: 10/11/1963; REV: 6/5/2023;