Description:
Description:The Division of Banks is currently accepting applications for the position of Deputy Commissioner and General Counsel (General Counsel). This represents an exciting opportunity to work in the dynamic field of financial services regulation and contribute in a meaningful way to achieving the mission of an accredited consumer protection agency. The General Counsel plays a critical role as the agency's chief legal counsel, as well as a key contributor to agency-wide policy decisions as a member of the senior leadership team.
About the Division:
The mission of the Division of Banks is to ensure 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, credit unions, and non-bank financial service providers including the mortgage, money services businesses, sales finance, and debt collection industries that do business within the Commonwealth. The majority of the Division's employees are examiners who conduct a variety of on- and off-site examinations of financial institutions under the Division's jurisdiction. Learn more about the Division of Banks by visiting our website.
The Division of Banks is committed to ensuring a diverse and inclusive workplace where all employees feel respected, valued, and empowered to maximize their skills and talents to serve our citizens. The Division endeavors to create and sustain a work culture that is welcoming, inclusive, and mutually respectful to all its employees regardless of race, color, age, creed, religion, national origin, ethnicity, sex, gender identity or expression, sexual orientation, genetic information, veteran or disability status. We strive to reflect diversity in all facets and levels of our organization as inclusiveness is a core agency value.
As General Counsel, you can expect to:
- Serve in a key leadership position within state government and financial regulation, demonstrating knowledge expertise of existing laws and regulations while monitoring new developments and shaping the future of financial services.
- Guide the Commissioner of Banks and senior staff in the development and coordination of statutory and regulatory policy as well as legal supervision.
- Serve as a liaison with the Executive Office on legal matters to ensure coordination of the Division and administration priorities.
- Represent the Division, as needed, to the industry, consumers, and as liaison with the Attorney General's Office.
- Draft approvals and decisions regarding depository institution mergers, acquisitions, and formations for the Commissioner of Banks and the Board of Bank Incorporation.
- Draft proposed legislation and regulation and handle both formal and informal inquiries from the Legislature regarding commentary on bills, and advice on consumer issues.
- Have a Juris Doctor (JD) degree, admission to the Massachusetts Bar, and at least 10 years of full-time professional experience in the practice of law in positions relevant to the financial services industries.
- Take pride in mentoring and the development of agency attorneys; Experience (at least 5 years) supervising team(s) of attorneys.
- Are interested in the increasingly complex and evolving financial landscape, able to apply research, and develop solutions to various complex issues in an effective manner.
Preferred Qualifications:
- Demonstrated ability to interact effectively, articulate and discuss, and provide guidance on complex legal issues with personnel at all levels of the organization, business leaders, legislators, and other government officials.
- Extensive and thorough knowledge of Massachusetts and Federal Banking Law, structure of state and federal banking and financial services, and legislative processes.
- Familiarity with administrative law, commercial law, applicable substantive law, and applicable procedural law.
- Work/Life Balance:
- Hybrid Position: This position will require the incumbent to report to the agency's office in Boston as scheduled for hearings and meetings. You will also have the opportunity to work from home and flexibility may be available to utilize a field office space (Lakeville, Woburn, and Springfield). Occasional out of state travel will be necessary for participation in regulatory and legislative conferences.
- Salary placement is determined by years of experience and education directly related to the position and the Human Resources Division's recruiting guidelines.
In addition to flexible work schedules and locations, Division employees are eligible for competitive Commonwealth of Massachusetts employee benefits which include generous leave policies, the Commonwealth's State Employee's Retirement Plan, and tuition remission at state colleges and universities. The General Counsel will benefit from trainings available through the Division, our federal regulatory partners, and the Commonwealth.
Primary Duties:
- Serve as the chief legal advisor to the Commissioner and Senior Staff, providing timely legal advice and analysis in connection with all regulatory and supervisory activities and agency initiatives on an ongoing basis. Subject matter includes all areas of agency supervision including state-chartered depository institutions and licensed non-depository entities.
- Generate legal opinions, review corporate transactions for approval, and provide legal advice on regulatory and supervisory matters.
- Participate in the formulation of policy relating to matters before the agency as a member of the senior leadership team to ensure that the Division's actions accurately reflect applicable legal requirements while being fair and reasonable regulatory responses.
- Manage implementation of legislative and regulatory strategy for the agency. Monitor, review, and provide updates on pertinent state and federal regulatory and legislative updates (both proposed and enacted) for impact on the financial services industry in Massachusetts.
- Respond to inquiries/requests from the Commonwealth's Legislature on laws, regulations, and constituent matters.
- Oversee and manage the day-to-day legal operations at the agency including the direct supervision of the Deputy General Counsel.
- Review extensive filings and briefs submitted by regulated entities for approval under state law as assigned to the Legal Unit.
- Communicate with senior management and boards of directors of regulated financial institutions and licensees to review and discuss specific matters requiring legal analysis and opinion. Render formal and informal legal opinions.
- Serve as Clerk of the Board of Bank Incorporation (a Board, which among other things, has jurisdiction over the establishment of new banks and certain acquisitions by holding companies).
Qualifications:
Minimum Entrance Requirements:
Applicants must have at least (A) seven (7) years of full-time or, equivalent part-time, professional, administrative, supervisory, or managerial experience in a particular specialty (i.e. scientific, professional, or technical) and must possess current license and/or registration requirements established for the performance of the position, of which (B) at least three (3) years must have been in a managerial capacity.
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! (https://www.mass.gov/commonwealth-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.