FINANCIAL EXAMINER 2

Washington State

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Job Information

Description

Providing Regulatory Oversight for Our State's Financial Service Providers

About Our Agency:
The Washington State Department of Financial Institutions' (DFI) mission is to regulate financial services to protect and educate the public and promote economic vitality. Collectively and independently, the Department's nearly 200 employees within its 5 divisions - Administration, Banks, Consumer Services, Credit Unions, and Securities - work together to create a stronger economic future and secure financial environment for Washington's consumers and businesses alike. DFI is self-supporting, in that none of its operating revenues come from the state's general tax funds. Its operating revenues are paid by the organizations and individuals it regulates. To learn more about the Department of Financial Institutions, please visit our website at .

About The Division:

The , is a dynamic, professional organization where you will experience a remarkable work-life balance - 40 hour weeks with flexible schedules and a dedicated staff. If you are interested in a legal career with an agency whose primary mission is consumer protection, then the Securities Division is for you. The securities we regulate include cutting edge new products such as cryptocurrency and digital assets, as well as traditional investments such as stocks, bonds and mutual funds. Additionally, we license and conduct examinations of the people that provide advice and sell these products, which includes broker-dealers and investment advisers. We also take enforcement action against those that violate applicable laws and regulations.

The Securities Division values diverse perspectives and life experiences. We employ and serve people of all backgrounds including people of color, women, LGBTQ+, people with disabilities, and veterans. We offer a generous benefits package that includes defined benefit retirement plans; health, dental and vision coverage, deferred compensation plans, and as a public service employee, you may also be eligible for .

We are looking for candidates that have an interest in securities and you will receive all of the training needed to be successful. Your work schedule will be a hybrid of office and telework. Telework details will be determined by you and your supervisor.

COVID-19 Mandatory Vaccination Information:

On Aug. 9, 2021, Gov. Jay Inslee issued Proclamation 21-14 that requires all employees of executive cabinet agencies to be fully vaccinated with the COVID-19 vaccine before their employment. Pursuant to this mandate, you will be required to provide proof of vaccination as a part of the hiring process. We will verify your vaccination status during your New Employee Onboarding. Exemptions may be granted for religious or medical purposes.

The Licensing and Examination Unit in the Division of Securities is recruiting for a field Financial Examiner, which may be filled at the 2, 3 or 4 level, depending on qualifications.

Duties

About the Position:
Under direct supervision, this Financial Examiner position supports the mission of the agency by conducting compliance examinations of investment advisers, broker dealers and their representatives and analyzing associated financial records that may lead to administrative, civil or criminal actions. These actions advance DFI's goals of implementing and enforcing laws regulating financial institutions and consumer protection laws.

Some of What You Will Do:

  • Conduct compliance examinations of investment advisers, including portfolio managers, which may involve a team of examiners.
  • Function as intermediary in coordinating requests for records and communication between exam team and investment advisor's management and personnel.
  • Evaluate investment and financial integrity of investment advisers to ensure adequacy of capital, revenue and income.
  • Interpret state/federal laws and reviews investment adviser's books and records in determining compliance with all applicable statutes and regulations.
  • Evaluate investment strategies to determine suitability of investments for clients.
  • Perform thorough analysis and review of legal contracts and verifies compliance with the regulations governing unethical business practices.
  • Maintain familiarity with industry software to allow for evaluation of financial statements and records, strategies, risk assessments and disciplines claimed by industry registrants, including performance measurement verification and other investment strategies, requiring the use of commercially available software and software developed internally.
  • Provide specific written reports and verbal recommendations to registrant's directors and management to remedy identified areas of non-compliance.
  • Conduct examinations of FINRA brokerage firm branches, multi-state and regional brokerage firms, which may involve a team of examiners.
  • Assist with examinations of securities and investment firms of any size involving the following specialized and complex fields: day trading, market-making activities of firms; due diligence review of brokerage firms bringing high-risk securities of newly formed companies to the financial markets.
  • Evaluate adequacy of registrant supervision, compliance and administration.
  • Prepare reports and deficiency letters detailing examination findings, and evaluates the registrant's response to the deficiency letter to determine if appropriate corrective action is taken.
  • Refers serious examination deficiencies, including law violations, to the enforcement section and recommends action. Work with enforcement attorneys to bring appropriate resolution.
  • Develop strategies for assessing and controlling risk in setting forth examination schedules and cycles for all the types of entities examined by the Securities Division.
Qualifications

Required Qualifications:
12 semester or 20 quarter hours in accounting, finance or economics.

Desired Qualifications: The ability to work on a team or independently as tasks require. Interest in learning about the securities industry.

Supplemental Information

Official Work Station:
This is a field examiner position that also requires some office work in the Tumwater location. The examiner will be conducting examinations in offices and private residences. Most examinations will be conducted by a single examiner. This position has a high degree of travel (mainly in-state) between 5-75%. The position may require some evening and weekend work.

Application Process: Applications for this recruitment will be accepted electronically. Submitting your application materials electronically will act as confirmation that the information submitted is complete and accurate to the best of your knowledge. Failure to provide all required application materials may result in disqualification.

Interested applicants should select the "Apply" button and attach the following materials to their application:
  • Cover Letter
  • Resume
  • Three professional references* (provide contact name, phone number, email address, company name, and job title)
  • Unofficial college transcripts
  • 3-5 page writing sample
*A professional reference is someone who has been paid to supervise your work and can attest to your work performance, technical skills, and job competencies. If you do not have sufficient professional references, please include non-professional references, such as educators or other professional associates.

Note: Application review may begin immediately. DFI reserves the right and may exercise the option to close this recruitment and make a hiring decision at any time. It may be to the applicants advantage to submit application materials as soon as possible.

Background Investigation:
Prior to a new hire, a background check including credit history and criminal record history will be conducted. Information from the background check will not necessarily preclude employment but will be considered in determining the applicant's suitability and competence to perform in the position.

Contact Information:
Tom Grant
360-725-7817
Recruiting@dfi.wa.gov

Washington State