Job Specification Details

Examination, evaluation, and advisory work involving the financial analysis of investment advisor and broker-dealer firms for financial stability and adherence to the Vermont Uniform Securities Act and Vermont Regulations of the Department of Financial Regulation, Securities Division (“Division”).  Will investigate complaints and reported misconduct by industry representatives, including, performing targeted investor public outreach as required. Work is performed with independence under the supervision of the Director of Examinations and Enforcement or the Securities Deputy Commissioner.

At the direction of the Director of Examination and Enforcement will perform complex work for the Division involving confirming the authenticity and accuracy of financial records to ensure the organization being examined is financially solvent and maintains the required net worth as determined by law or regulation. Evaluate internal and external audit reports, balance sheets, expense accounts, operating income accounts, tax documents, and special reports reflecting assets and liabilities. Produces examination reports, assuming full responsibility for their content. Refers findings of legal misconduct to the Director of Examination and Enforcement as appropriate and might be involved with the investigation process. Independently acts to resolve issues of lesser magnitude. Review registration requests for investment advisory firms and affiliated investment advisory representatives to determine eligibility for registration. Reviews and analyzes complaints, interviews complainants, and analyzes documents collected to determine the scope of complaints. Resolves complaints through interaction with industry representatives and complainants or recommends further investigation and enforcement action. Will assist in training other Division examiners as needed. Performs other related duties as required.

Duties are performed in a hybrid office setting as well as at field examination sites in Vermont and out of state. Occasional out-of-state travel and work outside normal hours may be required. Private means of transportation must be available for travel. There is significant interaction with the personnel of financial services firms, attorneys, accountants, federal and state regulatory organizations, industry representatives and the public sometimes in adversarial situations.

Working knowledge of the principles and practices of securities sales and investment advice, and the underlying regulatory requirements of broker-dealers and investment advisers.

Thorough knowledge of the structures and functions of a variety of financial statements.

Considerable knowledge of accounting theory and practice.

Considerable knowledge of financial examination procedures.

Considerable knowledge of financial management and organization principles and practices.

Considerable knowledge of investment principles.

Working knowledge of the concepts and operating principles of the financial services industry.

Working knowledge of federal securities laws, and the rules and regulations of securities industry self-regulatory organizations.

Ability to prepare comprehensive reports of findings and recommendations for action.

Ability to communicate effectively orally and in writing.

Ability to establish and maintain effective working relationships.

Ability to analyze and respond to complex problems arising in the financial, statistical, and operational functions of business organizations.

Graduate degree in finance, accounting, or business administration or related field AND two (2) or more years of experience in accounting, auditing, or examination in the financial services field.

OR

Bachelor's degree in business administration, accounting, finance, business statistics, actuarial science, investment and securities, or a related field involving the study of the analysis of finance in a business setting AND four (4) years or more of experience with a financial services firm or accounting firm with experience in financial services regulatory legal work.

OR

Eighteen months as Securities Examiner II with satisfactory completion of Department training and performance requirements.

Professional designation as a CPA or CFE.