The Indiana Department of Financial Institutions (DFI) works to promote growth and prosperity of local Indiana communities through effective and common-sense regulation.
About the Job:
As the Deputy Director of Consumer Credit, you will oversee the supervision and regulation efforts of the Consumer Credit Division and ensures effective and efficient use of agency resources. You will participate in agency and division strategic planning, staff development and retention, staff supervision, and regulatory participation and review.
A Day in the Life:
The essential functions of this roles are as follows:
Provide effective management and leadership of division supervisory and examination staff. Promote an environment of high-level performance expectations and successful staff development and retention
Oversee staff training, development, and evaluation by working with the supervisory personnel in the division
Ensure effective and efficient use of agency resources in the supervision and regulation of the various entities subject to the oversight of the Consumer Credit Division.
Responsible for the regulatory responsibility for pawnbrokers, money transmitters, check cashers, debt management companies, rental purchase companies, licensees and registrants under the Uniform Consumer Credit Code, licensees under the Indiana Small Loan Act, civil proceeding advance payment providers, first-lien and subordinate lien non-depository mortgage lending companies and loan originators employed by such licensed mortgage lenders, as well as consumer loans made by state-chartered depository institutions
Direct the work function of the division and ensures the examination of regulated entities are of adequate scope and meet Department quality expectations
Ensure agency resources are utilized in the most efficient manner given the number of available examiners, the tenure of those examiners, and current risks posed by the regulated entities
Review applications for licenses that fall under the jurisdiction of the Consumer Credit Division. Makes final recommendations to the Director or Members concerning applications
Responsible for overseeing the Consumer Credit Division as it administers the UCCC, Rental Purchase Act, Debt Management Company Act, Pawnbroker Act, Money Transmitter Act, Checking Cashing Act, Small Loan Act, Civil Proceeding Advance Payments Act, First Lien Mortgage Lending Act, and the SAFE Rule. Also oversees Federal Regulation Z (Truth in Lending Act), Regulation M (Consumer Leasing Act), and Regulation X (RESPA)
Must have a comprehensive understanding of state and federal regulatory policies and procedures which govern all of these entities
Ensure the effective implementation of division initiatives, targeting increased efficiency and accountability
Will continually evaluate the division's business processes with the goal of eliminating unnecessary processes and procedures taking into account available technological efficiencies
The job description is not designed to cover or contain a comprehensive listing of activities, duties, or responsibilities that are required of the employee. Other duties, responsibilities, and activities may change or be assigned at any time. Reasonable accommodations may be made to enable individuals with disabilities to interview and perform the essential functions of this role.
Supervisory Responsibilities/Direct Reports:
This role provides direct supervision for one or more staff members.
What You'll Need for Success:
Must have an undergraduate degree in Business or related field
Must generally have working or proficient knowledge of specific Indiana consumer credit laws and federal rules and regulations relating to those entities supervised by the Consumer Credit Division
Working knowledge of one or more of the following is preferred: Truth in Lending Act; Mortgage Loan Origination regulations; TILA-RESPA Integrated Disclosure regulations; Mortgage Servicing regulations; federal consumer fair lending laws; Indiana’s Uniform Consumer Credit Code and/or another state’s consumer credit laws and regulation.
General experience in consumer compliance in a regulated consumer credit industry, management and/or supervision preferred
Must possess excellent written and verbal communication skills as well as a high degree of professionalism
Leadership ability is also required to ensure the maximum effort is put forth by the Consumer Credit staff and the most efficient and effective operational policies and procedures are implemented and enforced
Thorough knowledge of agency and/or organizational program(s) and business practices
Thorough knowledge of State programs and resources, public policy and program evaluation
Ability to develop and/or measure program outcomes
Ability to create and maintain strong working relationships with key public and private government and business leaders
Ability to identify problems, determine accuracy and relevance of information, and use sound judgment to generate and evaluate alternatives and to make recommendations
Ability to work with internal and external customers to assess needs, provide assistance, resolve problems, and satisfy expectations
Outstanding interpersonal skills with the ability to build relationships, establish credibility, and influence leaders at all levels
Make sound, well-informed and objective decisions; perceives the impact and implications of decisions
Ability to identify problems; determine accuracy and relevance of information; use sound judgment to generate and evaluate alternatives and to make recommendations