Washington State

Description

The Department of Financial Institutions (DFI) regulates our state's financial service providers and protects consumers, and we are looking to fill an executive management position - the Director of Banks.

Why work at the DFI?

If you are interested in working in the public sector and doing something that can make a difference in Washingtonians lives, then you are the type of person we are looking for. Doing work that helps others can bring about great personal satisfaction. We think that one of the biggest reasons that our employees do their jobs so well is because they honestly like what they do and believe in the culture of this agency. In our work, every day presents a new and interesting challenge.

The Washington State Department of Financial Institutions’ (DFI) mission is to protect consumers and advance the financial health of Washington State by providing fair regulation of financial services and educating consumers to make informed financial decisions. Collectively and independently, the Department’s roughly 230 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 www.dfi.wa.gov.

Where is the DFI located?

DFI headquarters is located in Tumwater, WA, just minutes from Olympia. We are also minutes from I-5, the State Capital, Tumwater Falls Park, shopping, restaurants and within walking distance of InterCity Transit bus lines and much more.

Duties

The Division of Banks regulates Washington's state-chartered banks and trust companies for safety and soundness. The Division is comprised of approximately 28 staff members who work together with a team approach to examine and analyze our banks and trust companies for safety and soundness. As the top executive in the Division of Banks, this position is expected to plan and direct its regulatory activities in order to accomplish the division’s statutory mission, and the mission of the agency.

Some of What You Will Do:

• Regulate and supervise the activities of all state-chartered commercial banks, bank holding companies, mutual/stock savings banks, savings and loans, trust companies, small business lenders, business development companies and branches of foreign banks.
• Administer programs designed to ensure protection of the depositing public in financial institutions in coordination with the appropriate federal banking agencies.
• Promote sound operational procedures and practices among state regulated institutions to ensure safety, soundness, and compliance with state and federal laws, rules and regulations.
• Exercise broad statutory discretion over the application of laws and regulations regarding chartering and/or licensing, operation, liquidation, merger or acquisition of institution offices.
• Engage with stakeholders to promote sound economic development in the banking industry supporting a prosperous economy in Washington.
• Take an active role representing the agency with the Conference of State Bank Supervisors and maintain division accreditation with the Conference of State Bank Supervisors.
• Recommend the appointment and/or retention of the division’s exempt employees.
• Formulate legislation dealing with various banking concerns in concert with stakeholders.
• Testify before legislative committees and other public policy groups on proposed banking legislation and related topics. Consult with bank and thrift executives, boards of directors and trustees, regarding banking matters.
• Execute laws and rules relating to incorporation, corporate organization changes, mergers, acquisitions, consolidations, liquidations and dissolutions.
• Review and approve new bank, thrift and trust company charters, new branch applications, relocations, licenses for business development companies and small business lenders and authorizations for relocations.
• Conduct public hearings on modification of rules affecting supervised financial institutions. May conduct public hearings on applications for new banks or changes in location if necessary.
• Speaks before civic, educational and institutional groups on banking matters.
• Responds to inquiries from the media in connection with division-related topics, which may include being interviewed by news reporters.
• Issue rules, regulations, and supervisory orders; suspends or revokes charters; suspends officers, directors or trustees responsible for violations of law.
• Coordinates activities of the division with other state and national banking and regulatory entities, the public and the Office of the Attorney General.
• Impose statutory corrective measures against regulated entities.

This position oversees the Division's 28 FTEs, which includes Exempt Program Managers, Financial Examiner Supervisors, Financial Examiners, Financial Legal Examiners and administrative staff.

Qualifications

Required Education, Experience, and Competencies.

• Broad knowledge of state and federal laws, rules, and regulations that apply to the banking industry.
• Knowledge of banking laws and policies and have education, formal training, and/or hands-on experience in the banking business.
• Regulatory experience with programs designed to ensure the protection of the depositing public in financial institutions.
• Knowledge and familiarity with the activities and operations of commercial banks, bank holding companies, mutual/stock savings banks, trust companies, savings and loans, small business lenders, business development companies and foreign banks.
• Strong political skills including negotiating and consensus building skills to navigate and successfully work with stakeholders, legislators and others on legislation and policy issues.
• Extensive management experience and knowledge of management principles.
• Exercise sound judgment because of broad statutory discretion over laws and regulations.
• Strong management experience and knowledge of strategic planning processes including business planning, budget development and administration, performance measurement, and other management principles.
• Strong written and oral communication skills and be an effective public speaker.
• Incumbent must be able to effectively delegate tasks and authority, and to manage a diverse portfolio of responsibilities.
• Prioritize conflicting objectives and the ability to exercise good judgment in allocating resources to meet mutually exclusive demands.
• Strong personnel management skills, including the ability to inspire, coach, mentor and develop professional staff.
• Interact collegially with counterparts on the Executive Management Team in solving agency-wide or interdivisional issues.

Preferred/Desired Education, Experience, and Competencies.

Preferred or desired attributes include:

• Bachelor’s degree in business or banking or related major, supplemental education from either a master’s program or professional banking school.
• Fundamental understanding of banking, bank examinations, and banking laws and regulations, knowledge of supervisory oversight requirements.
• Understanding of industry standards and practices, ability to lead a large division and comfort with public speaking.

Supplemental Information

The DFI values diverse perspectives and life experiences and our diversity and inclusion efforts include embracing different cultures, backgrounds, and perspectives while fostering growth and advancement in the workplace. This culture of respect promotes a professional and inclusive environment where maximizing potential through opportunity is achievable by everyone.

Benefits of working for DFI include:

• Medical, dental, and vision insurance, retirement and deferred compensation, and generous paid vacation, sick leave, and holidays.
• Healthy work-life balance, wellness benefits, and ability to often work remotely (see Travel Requirements and Official Work Station section Below).
• Commitment to diversity, equity, and inclusion where every person is recognized and valued.
• Professional development and continuing education opportunities, including DFI’s in-house CLE program and other training that ensures employees are successful.
• Tuition reimbursement of up to $5,250 per calendar year toward pursuit of advanced degrees or certifications.
• You may be eligible for Public Service Loan Forgiveness.

Application Process:

Applications for this recruitment will be accepted electronically. If you are not able to attach a document, please notify the contact person prior to submitting your application. 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 and complete the supplemental questionnaire 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.
• 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 is to your advantage to submit application materials as soon as possible.

Background Investigation:

Prior to a new hire, a background check including reference, criminal and credit 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, Human Resources Office

tom.grant@dfi.wa.gov or recruiting@dfi.wa.gov

More than Just a Paycheck!

Employee benefits are not just about the kind of services you get, they are also about how much you may have to pay out of pocket. Washington State offers one of the most competitive benefits packages in the nation.

We understand that your life revolves around more than just your career. Like everyone, your first priority is ensuring that you and your family will maintain health and financial security. That's why choice is a key component of our benefits package. We have a selection of health and retirement plans, paid leave, staff training and other compensation benefits that you can mix and match to meet your current and future needs.

Read about our benefits:

The following information describes typical benefits available for full-time employees who are expected to work more than six months. Actual benefits may vary by appointment type or be prorated for other than full-time work (e.g. part-time); view the job posting for benefits details for job types other than full-time.

Note: If the position offers benefits which differ from the following, the job posting should include the specific benefits.

Insurance Benefits

Employees and their families are covered by medical (including vision), dental and basic life insurance. There are multiple medical plans with affordable monthly premiums that offer coverage throughout the state.

Staff are eligible to enroll each year in a medical flexible spending account which enables them to use tax-deferred dollars toward their health care expenses. Employees are also covered by basic life and long-term disability insurance, with the option to purchase additional coverage amounts.

To view premium rates, coverage choice in your area and how to enroll, please visit the Public Employees Benefits Board (PEBB) website. The Washington Wellness program from the Health Care Authority works with PEBB to support our workplace wellness programs.

Dependent care assistance allows the employee to save pre-tax dollars for a child or elder care expenses.

Other insurance coverage for auto, boat, home, and renter insurance is available through payroll deduction.

The Washington State Employee Assistance Program promotes the health and well-being of employees.

Retirement and Deferred Compensation

State Employees are members of the Washington Public Employees' Retirement System (PERS). New employees have the option of two employer contributed retirement programs. For additional information, check out the Department of Retirement Systems' web site.

Employees also have the ability to participate in the Deferred Compensation Program (DCP). This is a supplemental retirement savings program (similar to an IRA) that allows you control over the amount of pre-tax salary dollars you defer as well as the flexibility to choose between multiple investment options.

Social Security

All state employees are covered by the federal Social Security and Medicare systems. The state and the employee pay an equal amount into the system.

Public Service Loan Forgiveness

If you are employed by a government or not-for-profit organization, and meet the qualifying criteria, you may be eligible to receive student loan forgiveness under the Public Service Loan Forgiveness Program.

Holidays

Full-time and part-time employees are entitled to paid holidays and one paid personal holiday per calendar year.

Note: Employees who are members of certain Unions may be entitled to additional personal leave day(s), please refer to position specific Collective Bargaining Agreements for more information.

Full-time employees who work full monthly schedules qualify for holiday compensation if they are employed before the holiday and are in pay status for at least 80 nonovertime hours during the month of the holiday; or for the entire work shift preceding the holiday.

Part-time employees who are in pay status during the month of the holiday qualify for the holiday on a pro-rata basis. Compensation for holidays (including personal holiday) will be proportionate to the number of hours in pay status in the month to that required for full-time employment, excluding all holiday hours. Pay status includes hours worked and time on paid leave.

Sick Leave

Full-time employees earn eight hours of sick leave per month. Overtime eligible employees who are in pay status for less than 80 hours per month, earn a monthly proportionate to the number of hours in pay status, in the month to that required for full-time employment. Overtime exempt employees who are in pay status for less than 80 hours per month do not earn a monthly accrual of sick leave.

Sick leave accruals for part-time employees will be proportionate to the number of hours in pay status, in the month to that required for full-time employment. Pay status includes hours worked, time on paid leave and paid holiday.

Vacation (Annual Leave)

Full-time employees accrue vacation leave at the rates specified in WAC 357-31-165(1) or the applicable collective bargaining agreement (CBA). Full-time employees who are in pay status for less than 80 nonovertime hours in a month do not earn a monthly accrual of vacation leave.

Part-time employees accrue vacation leave hours in accordance with WAC 357-31-165(1) or the applicable collective bargaining agreement (CBA) on a pro rata basis. Vacation leave accrual will be proportionate to the number of hours in pay status, in the month to that required for full-time employment.

Pay status includes hours worked, time on paid leave and paid holiday.

As provided in WAC 357-58-175, an employer may authorize a lump-sum accrual of vacation leave or accelerate the vacation leave accrual rate to support the recruitment and/or retention of a candidate or employee for a Washington Management Service position. Vacation leave accrual rates may only be accelerated using the rates established WAC 357-31-165.

Note: Most agencies follow the civil service rules covering leave and holidays for exempt employees even though there is no requirement for them to do so. However, agencies are required to adhere to the applicable RCWs pertaining holidays and leave.

Military Leave

Washington State supports members of the armed forces with 21 days paid military leave per year.

Bereavement Leave

Most employees whose family member or household member dies, are entitled to three (3) days of paid bereavement leave. In addition, the employer may approve other available leave types for the purpose of bereavement leave.

Additional Leave

Leave Sharing

Parental Leave

Family and Medical Leave Act (FMLA)

Leave Without Pay

Please visit the State HR Website for more detailed information regarding benefits.

Updated 12-31-2022

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