State of Connecticut Executive Branch

Principal Financial Examiner (1160AR)

$46.53-$59.54 Hourly / $3,721.88-$4,762.84 BiWeekly /
$97,141.00-$124,310.00 Yearly

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.

GUIDELINES FOR JOB CLASS USE

This is a working supervisor level class and is distinguished from lower level examiners by having principal responsibility for a minimum of three (3) examiners on a full time basis and handling the most complex assignments.
Examples of assignments at this level include: 
  • Leading multi-state examinations or investigations; 
  • Leading complex and precedent setting and high visibility enforcement cases; 
  • Leading large examinations including specialized components, such as, bank secrecy, information technology and truth and lending; 
  • Leading continuous monitoring and target examinations of international banks and the largest domestic banks.

SUPERVISION RECEIVED

Receives general direction from an employee of higher grade who reviews work for effectiveness and conformance with policy.

SUPERVISION EXERCISED

Leads examiners and other staff as assigned.

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.

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 28

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 Principal Financial Examiner in Salary Group AR 28 approved effective February 15, 2012. (Revised to modernize format and add Acknowledgement section) Final No. 23-242

EFFECTIVE DATE

09/13/2023
CLASS: 1160AR; EST: 10/11/1963; REV: 10/13/2023;