The Division of Banks is currently accepting applications for the position of Licensing Examiner I in the Non-Depository Institution Supervision - Licensing Unit. This role will be conducing licensing reviews and processing applications submitted by non-bank financial institutions seeking to do business in the Commonwealth of Massachusetts. About the Division: As an employee of the Division of Banks, you will contribute to the mission of the Division of Banks by ensuring a sound, competitive, and accessible financial services environment throughout the Commonwealth. The Division maintains public confidence in Massachusetts financial institutions through the oversight of state-chartered banks and credit unions as well as non-depository licensees doing business in Massachusetts. We are a consumer protection agency and we support financial literacy education and programs benefiting residents across the Commonwealth. The majority of the Division's employees are Examiners who conduct a variety of on-site and off-site examinations of financial institutions and licensed entities under the Division's jurisdiction. At the Division of Banks every employee's ideas and experiences are welcomed. We value and respect that each individual brings different skills and perspectives that uniquely contribute to our agency and the work that we do. It is important that each employee feel empowered to contribute as this allows for more effective collaboration and better results . Within our workplace community, we offer a variety of training and mentoring to create and maintain learning environments that are inclusive, equitable, and welcoming. To learn more about the Division of Banks, click here . As an examiner, you can expect to:
- Perform comprehensive reviews of applications for non-bank license applications including but not limited to: mortgage lenders, mortgage brokers, mortgage loan originators, third party loan servicers, small loan companies, loan servicing companies including student loan servicing companies and any other non-bank applicants.
- Analyze financial statements, business plans, and other steps of the license application process.
- Participate in team examinations.
- Gain knowledge of the examination areas.
- Attend state and federal regulatory training programs.
Consider joining our examiner team if you: - Are interested in a public position and enthusiastic about serving the public good.
- Are interested in the licensing, supervision, and regulation of the various non-banking financial services provided to consumers throughout the Commonwealth.
- Have experience in accounting, business, banking, finance, economics, or related fields (public policy, IT/cybersecurity, criminal justice, data analytics).
- Are eager to embrace new challenges and learning opportunities while working in a team environment.
- Have knowledge and experience in analyzing financial statements, performing financial analysis, and assessing risk.
- Have strong analytical, multi-tasking, writing, and communication skills.
Preferred Qualifications: We encourage individuals who believe they have the skills necessary to thrive to apply for this role, even if you don't meet 100% of the job qualifications.
- Experience in the mortgage, consumer finance, debt collection, loan servicing, or money services businesses industry.
- Familiarity with the Massachusetts General Laws, Bank Secrecy Act and Anti-Money Laundering laws and regulations, Truth in Lending, information security, repossession rules, consumer disclosures, or debt collection regulations.
- Willing and able to travel throughout Massachusetts and travel out-of-state with some overnight stay (dependable way to travel to multiple sites around Massachusetts is required; driver's license and access to a vehicle are recommended).
Work/Life Balance: - Hybrid Position: Examiners have the opportunity to work from home but also are periodically required to be on site at a regulated institution, or one of our four regional offices (Boston, Lakeville, Woburn, or Springfield). Some out of state travel may be required.
- Flexible Schedule: Examiners have various options for: start and end times; and every other Friday off.
The Examiner position is a union role in the National Association of Government Employees (NAGE) Unit 6 and is covered by the union contract and benefits. The Division offers a competitive starting salary of $71K (Grade 10) and salary (step) placement can range up to $82K based on relevant years of experience. Primary Duties:
- Review and analyze financial statements and filings, applicant's business plans, applicable background checks, appropriate policies and procedures, and data analytics collected either as part of the applicant's application or through data collected from the Nationwide Multi-State Licensing System and Registry (NMLS) to evaluate an application for licensure.
- Review and process licensees' renewal applications to ensure statutory and regulatory requirements are met.
- Utilize the Nationwide Multistate Licensing System (NMLS) and participate in meetings and discussions regarding the functionality and future development of the NMLS.
- Prepare correspondence to companies and individuals relative to the application and renewal procedures. Prepare written reports for Division management which summarize applications.
- Assist in drafting regulatory actions to address licensee deficiencies and potential unlicensed activity in the Commonwealth.
- Communicate regularly with licensees' management staff and/or legal representatives to explain licensing processes and assist in the preparation of applications.
- Assist in the data analysis of annual and quarterly reporting as part of the Division's ongoing surveillance program to ensure the continued financial soundness of licensees, and to aggregate industry data and trends.
- Participate in formal and on-the-job training.
The filling of this position is subject to appropriation and obtainment of all necessary approvals from the Office of Consumer Affairs and Business Regulation and the Executive Office for Administration and Finance. The Division reserves the right not to fill this position without notice. This position will report directly to the Licensing Manager within the examination unit.
Qualifications: First consideration will be given to those applicants that apply within the first 14 days. Minimum Entrance Requirements: Applicants must have (A) at least one year of full-time, or equivalent part-time, professional experience in accounting, auditing, or bank examining work, or (B) any equivalent combination of the required experience and the substitutions below. Incumbents are required to travel throughout the Commonwealth of Massachusetts and travel out-of-state with some overnight stay. Substitutions: I. A Bachelors or higher degree with a major in accounting, business administration, business management, banking, finance, economics, or related field may be substituted for the required experience.* *Education toward such a degree will be prorated on the basis of the proportion of the requirements actually completed. Comprehensive Benefits When you embark on a career with the Commonwealth, you are offered an outstanding suite of employee benefits that add to the overall value of your compensation package. We take pride in providing a work experience that supports you, your loved ones, and your future. Want the specifics? Explore our Employee Benefits and Rewards! An Equal Opportunity / Affirmative Action Employer. Females, minorities, veterans, and persons with disabilities are strongly encouraged to apply. The Commonwealth is an Equal Opportunity Employer and does not discriminate on the basis of race, religion, color, sex, gender identity or expression, sexual orientation, age, disability, national origin, veteran status, or any other basis covered by appropriate law. Research suggests that qualified women, Black, Indigenous, and Persons of Color (BIPOC) may self-select out of opportunities if they don't meet 100% of the job requirements. We encourage individuals who believe they have the skills necessary to thrive to apply for this role.