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ACOM SECURITIES EXAMINER

The Securities Examiner is responsible for the regulation of the securities, mortgage, and other financial industries. This position is governed by state and federal

Class Code:

X061C

Job Grade:

GS07

Special Job Requirements:

Travel for job-related responsibilities is necessary.

Typical Functions:

Participates in on-site examinations of registered entities and persons to test solvency, record keeping, and sales practices for conformance to applicable Acts and Rules. Writes reports detailing findings of examinations and notifies licensees of violations and remedies that should be taken to ensure compliance with the appropriate Acts and Rules. Investigates complaints, inquiries and suspected violations of the appropriate Acts and Rules. Schedules and analyzes account statements, bank records, and other documents to determine possible violations of the appropriate acts and rules. Prepares a written case summary, assists in preparation of case, and appears as an expert witness during administrative hearings or court proceedings. Reviews applications from broker-dealers, agents, investment advisers, representatives, mortgage companies, loan officers, and other regulated entities, to determine compliance with applicable statutes and rules. Reviews registrations and exemptions from registration of securities offerings to ensure that federal, state, and agency standards and requirements are met. Analyzes financial records, annual reports, and other financial statements to determine if regulated entities’ financial positions are adequate and business practices conform to state and federal statutes and rules. Examines trust accounts established for perpetual care cemeteries to ensure that the principal and income are accounted for as required by rule. Ensures that the trust accounts are invested appropriately. Performs investigations and examinations with other state regulatory agencies, Financial Industry Regulatory Authority (FINRA), Securities and Exchange Commission (SEC), Conference of State Banking Supervisors (CSBS), American Association of Residential Mortgage Regulators (AARMR) and Money Transmitter Regulators Association (MTRA). Attends meetings with representatives of FINRA, SEC, CSBS, AARMR, and MTRA to discuss ongoing cases and new developments in the regulation of these industries. Utilizes the department database systems to track filings, input records, and provide input on the development and improvement of the database to administration. Inputs, monitors and maintains data in national databases such as FINRA’s Central Registration Depository (CRD), Investment Adviser Registration Depository (IARD), and CSBS’s Nationwide Mortgage Licensing System (NMLS). Performs other duties as assigned.

Knowledge, Abilities, and Skills:

Knowledge of principles of accounting and financial auditing procedures. Knowledge of the statutes and rules administered by the Securities Department. Ability to analyze and evaluate accounting and financial data of regulated financial institutions. Ability to interpret and apply state and federal laws governing the regulated financial industries. Ability to evaluate securities offerings and the business practices of regulated industries. Ability to communicate technical information verbally and in writing. Ability to conduct financial examinations and determine compliance with applicable laws and rules.

Minimum Qualifications:

The formal education equivalent of a bachelor’s degree in accounting, finance, or a related field; plus two years of experience in auditing, accounting, securities, or related field to securities or financial industry regulation. Additional requirements determined by the agency for recruiting purposes require review and approval by the Office of Personnel Management. OTHER JOB RELATED EDUCATION AND/OR EXPERIENCE MAY BE SUBSTITUTED FOR ALL OR PART OF THESE BASIC REQUIREMENTS, EXCEPT FOR CERTIFICATION OR LICENSURE REQUIREMENTS, UPON APPROVAL OF THE QUALIFICATIONS REVIEW COMMITTEE.

Required Certificates:

None

Exempt:

E
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