Assoc. Comm. for Banking - Insurance, Securities and Bank - Washington, DC

Assoc. Comm. for Banking - Insurance, Securities and Bank - Washington, DC -

JOB SUMMARY

INTRODUCTION:
This place is situated within the Division of Insurance coverage, Securities and Banking,Banking Bureau.

The Affiliate Commissioner for Banking has general duty for administering all legal guidelines of the District of Columbia and relevant Federal legal guidelines relative to the operations of banking and monetary establishments within the District of Columbia or beneath the authority of the District of Columbia Authorities.

POSITION CONTROLS
His or her obligations embrace, however aren’t restricted to, the next:
Licensing of regionally chartered banks and non-depository monetary establishments resembling mortgage lenders, examine cashers and cash transmitters, together with the brokers of such establishments. Monetary monitoring and examination of each depository and non- depository monetary establishments to make sure security and soundness. Accepting and appearing upon shopper complaints, media stories or different info which may point out fraud or improper conduct on the a part of licensed or unauthorized monetary establishments or brokers. Working with different state and Federal regulators to make sure uniform and efficient regulation of monetary establishments on a worldwide foundation, together with implementation of the Patriots Act and different legal guidelines designed to guard towards prohibited monetary transactions. As well as, the Affiliate Commissioner of the Banking Bureau may have main duty for creating circumstances that may make the District of Columbia a gorgeous place for the conduct of respectable monetary actions within the District and on a nationwide and worldwide foundation. Such circumstances will embrace trendy legal guidelines and laws, state-of- the-artwork processing procedures, and a enterprise-pleasant, responsive and educated employees.

DUTIES AND RESPONSIBILITIES
The Affiliate Commissioner for Banking regulates and supervises all banking and different monetary establishments, and the brokers thereof, licensed in accordance with District of Columbia legal guidelines, in addition to the operation inside the District of Columbia of monetary establishments licensed by Federal businesses or the monetary regulators of different states, according to the relevant legal guidelines and laws of these different jurisdictions and the District of Columbia Regional Interstate Banking Act of 1985, as amended. These embrace, inter alia”

1. Depository establishments, together with business banks, retail banks, financial savings and mortgage associations, and credit score unions.
2. Non-depository establishments, together with mortgage lenders, trusts, examine cashers, cash transmitters and non-bank automated teller machines.

The Affiliate Commissioner develops and maintains software procedures for licenses, accepts and evaluations license purposes, and determines health for granting or renewal of a license. The Affiliate Commissioner ensures that each one relevant license and different charges are collected and that candidates meet the necessities of the District of Columbia “Clear Palms Act” and different relevant legal guidelines and laws. The Affiliate Commissioner considers and evaluates all proposals of licensed establishments and brokers to increase providers, open branches, and enter new areas of enterprise, and recommends to the Commissioner, Division of Insurance coverage, Securities and Banking whether or not such actions ought to be permitted.

The Affiliate Commissioner develops and maintains procedures for figuring out and stopping the actions of organizations and people offering monetary providers within the District of Columbia with out required licenses.

The Affiliate Commissioner ensures that banks and different monetary establishments, working in accordance with District legal guidelines, aren’t engaged in cash laundering or different unlawful actions, and will work with Federal brokers, D.C. police authorities, the U.S. Lawyer and the regulators of different states to determine and block monetary actions that violate Federal anti-terrorism legal guidelines.
The Affiliate Commissioner seeks regularly to enhance the effectivity and effectiveness of monetary regulation in and by the District of Columbia, together with updating legal guidelines and laws, enhancing the coaching and supervision offered to staff inside the Bureau, and reaching out to the general public to enhance consciousness of the principles governing monetary entities and the regulatory position performed by the Division of Insurance coverage, Securities and Banking.

The Affiliate Commissioner ensures that licensed monetary establishments are serving the general public in accordance with District and Federal legal guidelines, laws, and insurance policies, and that shopper complaints are promptly and pretty handled. By means of monitoring and periodic examination, the Affiliate Commissioner ensures that each one licensed entities are working in a protected and sound method, are sustaining vital reserves, and are offering all required studies and info to Division of Insurance coverage, Securities and Banking. The Affiliate Commissioner works with the Commissioner and with the monetary providers business to determine methods through which the District of Columbia, because the Capital Metropolis of america, can help the business to realize reputable enterprise aims via truthful and efficient regulation

LICENSURES, CERTIFICATIONS AND OTHER REQUIREMENTS
None

EDUCATION
It’s fascinating that the incumbent possess a Bachelor’s Diploma in a associated subject.

WORK EXPERIENCE
5 years of professional work expertise.

WORK ENVIRONMENT
The work is carried out in an workplace setting.

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