State of Connecticut Executive Branch

Banking Assistant Director Of Securities And Business Investments Division (0092MP)

$53.96-$73.57 Hourly / $4,316.06-$5,885.33 BiWeekly /
$112,649.00-$153,607.00 Yearly

PURPOSE OF JOB CLASS (NATURE OF WORK)

In the Department of Banking, Securities and Business Investments Division, this class is accountable for assisting in the direction of the programs and operations of the division.

SUPERVISION RECEIVED

Receives administrative direction from the Banking Director of Securities and Business Investments Division.

SUPERVISION EXERCISED

Assists in directing staff of the division.

EXAMPLES OF DUTIES

  • Assists in directing staff and operations of the division;
  • Assists in coordinating, planning and managing division activities;
  • Assists in directing investigations of complaints regarding alleged violations of state securities, business opportunity and tender offer laws;
  • Recommends legislation and legislative revisions affecting securities and business investments laws;
  • Acts in absence of Director;
  • Participates in the recruitment and hiring of staff, including outreach, interview and selection;
  • Performs related duties as required.
REGISTRATION SECTION
  • Assists in directing processing of applications for broker-dealers, agents, investment advisors and investment advisor agents for original and renewal registration;
  • Assists in directing review of required documents and financial statements to determine qualifications and financial condition of applicants and registrants;
  • Assists in supervising conduct and review of regular and special examinations of broker-dealers and investment advisors;
  • Assists in directing review of documents submitted for registration of securities and business opportunities for sale in or from Connecticut or those filed in accordance with the Connecticut Tender Offer Act;
  • Makes recommendations to the Director on formulation of examination procedures;
  • Conducts administrative hearings in regard to denial, suspension or revocation of registrations under securities and business opportunity laws and tender-offer laws;
ENFORCEMENT SECTION
  • Assists in directing examinations and investigations of broker dealers and investment advisers in securities or business opportunities and reviews completed reports;
  • Conducts administrative hearings in regard to operation and enforcement of securities and business opportunity laws and tender-offer laws;
  • Reviews annual financial statements of broker-dealers and investment advisers for compliance with capital or financial responsibility requirements;
  • Prepares subpoenas and participates in revocation proceedings;

KNOWLEDGE, SKILL AND ABILITY

  • Considerable knowledge of
    • and ability to interpret difficult and complex state and federal laws, statutes and regulations relevant to securities and business opportunities;
    • securities and business opportunity fields including federal and state securities and business opportunity law;
    • accounting and auditing principles and practices including ability to understand financial statements;
  • Knowledge of
    • and ability to apply management principles and practices; 
    • investigatory techniques;
  • Considerable
    • interpersonal skills;
    • oral and written communication skills.

MINIMUM QUALIFICATIONS - GENERAL EXPERIENCE

Nine (9) years experience in areas directly related to the securities industry involving some accounting and financial analysis.

MINIMUM QUALIFICATIONS - SPECIAL EXPERIENCE

One (1) year of the General Experience must have been in a working lead capacity over professional staff involving securities examination or management at or above the level of Banking Principal Examiner.

NOTE: For state employees this experience is interpreted at the level of a Banking Principal Examiner.

MINIMUM QUALIFICATIONS - SUBSTITUTIONS ALLOWED

  • College training in finance or a related field 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 administration 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

(02)-MANAGERIAL

EEO

(1)-Officials And Administrators

SALARY INFORMATION

MP 68

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 Assistant Director of Securities and Business Investments Division in Salary Group MP 68 approved effective October 1, 1987. (Revised to add Acknowledgement section and modify content) Final No. 22-007

EFFECTIVE DATE

04/22/2022
CLASS: 0092MP; EST: 9/10/1980; REV: 7/5/2022;