Class Description and Minimum Qualifications for H8F - Financial/Credit Examiner

Note: Provided below is a job class description and minimum qualification. To view this information for other State of Colorado positions, please visit the job classifications and minimum qualifications page.

Class Description

Valid as of: July 1, 2015

This class series uses six levels in the Professional Services Occupational Group and describes work in the examination or audit of financial records, reports, and financial status of financial-related institutions to insure they abide by statutes, rules, regulations, and principles of the field. Institutions include, but are not limited to, banks, credit unions, savings and loans, insurance companies, lenders, credit agencies, real estate entities, and securities dealers. The work includes the review of financial data, documents, or statements to assess the soundness and viability of the financial institution. The work consists of the analysis of financial information to insure compliance with requirements, the development of recommendations in operating or management practices to correct deficiencies, and the recommendations on sanctions, or denial of applications or licensure. The work may include the review and analysis of insurance and securities forms, policies, certificates, or coverage types so that they conform to state and federal requirements. The work also may include the review and approval of applications for licensure or approval of new types of insurance or security products. This class series differs from the auditing classes in that this series deals with the regulatory functions of the state over financial-related institutions.

FINANCIAL/CREDIT EXAMINER INTERN H8F1IX

Concept of Class

This class describes the entry level. Work is designed to train positions for a higher level in the class series. Although tasks are similar to those of the fully-operational level, assignments are structured and performed with direction and assistance from others. Positions carry out established work processes and operations by learning to apply and follow procedures, techniques, rules, and regulations. Once training has been completed, the position is to be moved to the next level. Positions should not remain in this
class indefinitely.

FINANCIAL/CREDIT EXAMINER I H8F2XX

Concept of Class

This class describes the first working level. Work is designed to train positions for a higher level in the class series. Although tasks are similar to those of the fully-operational examiner level, assignments are structured and performed with direction and assistance from others. Positions carry out established work processes and operations by learning to apply and follow procedures, techniques, rules, and regulations.

Factors

Allocation must be based on meeting all of the three factors as described below.

Decision Making

The decisions regularly made are at the defined level, as described here. Within limits prescribed by the operation, choices involve selecting alternatives that affect the manner and speed with which tasks are carried out. These choices do not affect the standards or results of the operation itself because there is typically only one correct way to carry out the operation. As an example, positions decide the sequence and priority of examining an institution's financial records during a formal review. These alternatives include independent choice of such things as priority and personal preference for organizing and processing the work, proper tools or equipment, speed, and appropriate steps in the operation to apply. By nature, the data needed to make decisions can be numerous but are clear and understandable so logic is needed to apply the prescribed alternative. Positions can be taught what to do to carry out assignments and any deviation in the manner in which the work is performed does not change the end result of the operation. For example, positions decide whether the proper accounting principle was applied in the treatment of depreciation on financial reports; supervisors provide guidance when the accounting principles are non-specific.

Complexity

The nature of, and need for, analysis and judgment is patterned, as described here. Positions study financial, operating, and insurance or security product information to determine what it means and how it fits together in order to get practical solutions in the form of determinations of financial soundness assessments. For example, a position studies records of electronic fund transfers to determine if federal reporting requirements were met. Guidelines in the form of agency/board regulations, state and federal statutes, standard accounting principles, and industry standards exist for most situations. Judgment is needed in locating and selecting the most appropriate of these guidelines which may change for varying circumstances as the task is repeated. This selections and interpretations of guidelines involves choosing from alternatives where all are correct but one is better than another depending on the given circumstances of the situation. For example, a position chooses the appropriate banking regulation to apply in the review of banks’ operations.

Line/Staff Authority

The direct field of influence the work of a position has on the organization is as an individual contributor.

FINANCIAL/CREDIT EXAMINER II H8F3XX

Concept of Class

This class describes the fully-operational examiner level. Positions in this level conduct financial examinations of institutions, insurance or securities operations, or real estate companies to judge their compliance with operating and reporting requirements. Positions examine portions of an institution's financial operations or complete the entire examination or review. The work includes the rationale and justification in making recommendations on the soundness or the deficiencies noted. Positions recommend to managers and governing boards any corrective actions needed and then follow-up on measures approved. The work includes training and clarifying to institutional employees and managers the purpose of regulations and reporting requirements or the best means of solving problems noted during the examination. This class differs from the Financial/Credit Examiner I class in the Decision Making and Purpose of Contact factors and possibly in the Complexity factor.

Factors

Allocation must be based on meeting all of the three factors as described below.

Decision Making

The decisions regularly made are at the operational level, as described here. Within limits set by the specific process, choices involve deciding what operation is required to carry out the process. This includes determining how the operation will be completed. For example, positions decide which records or data to review, how errors will be treated, and what sanctions to recommend. By nature, data needed to make decisions are numerous and variable so reasoning is needed to develop the practical course of action within the established process. Choices are within a range of specified, acceptable standards, alternatives, and technical practices. As an example, positions review submitted changes in a financial institution's organizational structure and decide whether proposed changes fit alternatives allowed in guidelines.

Complexity

The nature of, and need for, analysis and judgment is patterned, as describe here. Positions study financial, operating, and insurance or security product information to determine what it means and how it fits together in order to get practical solutions in the form of determinations of financial soundness assessments. For example, a position studies records of electronic fund transfers to determine if federal reporting requirements were met. Guidelines in the form of agency/board regulations, state and federal statutes, standard accounting principles, and industry standards exist for most situations. Judgment is needed in locating and selecting the most appropriate of these guidelines which may change for varying circumstances as the task is repeated. This selection and interpretation of guidelines involves choosing from alternatives where all are correct but one is better than another depending on the given circumstances of the situation. For example, a position chooses the appropriate insurance or real estate regulation to apply in the review of a company's operations and financial viability.

The nature of, and need for, analysis and judgment is formulative, as described here. Positions evaluate the relevance and importance of insurance or security theories and concepts, and standard accounting principles in order to tailor them to develop a different approach or tactical plan to fit specific circumstances. While general policy, precedent, or non-specific practices exist, they are inadequate so they are relevant only through approximation or analogy. In conjunction with theories, concepts, and principles, positions use judgment and resourcefulness in tailoring the existing guidelines so they can be applied to particular circumstances and to deal with emergencies. For example, positions consider new insurance concepts in evaluating new product coverage and predicted liabilities.

Line/Staff Authority

The direct field of influence the work of a position has on the organization is as an individual contributor. The individual contributor may explain work processes and train others. The individual contributor may serve as a resource or guide by advising others on how to use processes within a system or as a member of a collaborative problem-solving team. This level may include positions performing supervisory elements that do not fully meet the criteria for the next level in this factor.

FINANCIAL/CREDIT EXAMINER III H8F4XX

Concept of Class

This class describes the work leader or staff authority level. In addition to work described by the previous classes, positions in this level perform as "examiner-in-charge" in reviewing and analyzing the financial conditions of institutions or security and insurance products. Positions guide and direct the work of other examiners or analysts as a team leader and are responsible for the planning and completion of the exam, its recommendations, and any follow-up actions needed. This class differs from the Financial/Credit Examiner II class in the Decision Making, Purpose of Contact, and Line/Staff Authority factors.

Factors

Allocation must be based on meeting all of the three factors as described below.

Decision Making

The decisions regularly made are at the process level, as described here. Within limits set by professional standards, the agency's available technology and resources, and program objectives and regulations established by a higher management level, choices involve determining the process, including designing the set of operations. For example, positions decide the sequences of examination, who will perform which parts, which analyses will be used, and the form and content of the report. The general pattern, program, or system exists but must be individualized. This individualization requires analysis of data that is complicated. Analysis is breaking the problem or case into parts, examining these parts, and reaching conclusions that result in processes. This examination requires the application of known and established theory, principles, conceptual models, professional standards, and precedents in order to determine their relationship to the problem. For example, positions decide how to examine financial statements related to reinsurance cases based on precedents established in other states. New processes or objectives require approval of higher management or the agency with authority and accountability for the program or system.

Complexity

The nature of, and need for, analysis and judgment is patterned, as described here. Positions study financial, operating, and insurance or security product information to determine what it means and how it fits together in order to get practical solutions in the form of determinations of financial soundness assessments. For example, a position studies records of fund transfers to determine if federal reporting requirements were met. Guidelines in the form of agency/board regulations, state and federal statutes, standard accounting principles, and industry standards exist for most situations. Judgment is needed in locating and selecting the most appropriate of these guidelines which may change for varying circumstances as the task is repeated. This selection and interpretation of guidelines involves choosing from alternatives where all are correct but one is better than another depending on the given circumstances of the situation. For example, a position chooses the appropriate insurance or real estate regulation to apply in the review of a company's operations and financial viability.

The nature of, and need for, analysis and judgment is formulative, as described here. Positions evaluate the relevance and importance of insurance or security theories and concepts, and standard accounting principles in order to tailor them to develop a different approach or tactical plan to fit specific circumstances. While general policy, precedent, or non-specific practices exist, they are inadequate so they are relevant only through approximation or analogy. In conjunction with theories, concepts, and principles, positions use judgment and resourcefulness in tailoring the existing guidelines so they can be applied to particular circumstances and to deal with emergencies. For example, positions consider new securities concepts in evaluating marketing programs and dealer liabilities.

Line/Staff Authority

The direct field of influence the work of a position has on the organization is as a work leader or staff authority. The work leader is partially accountable for the work product of two or more full-time equivalent positions, including timeliness, correctness, and soundness. At least one of the subordinate positions must be in the same series or at a comparable conceptual level. Typical elements of direct control over other positions by a work leader include assigning tasks, monitoring progress and work flow, checking the product, scheduling work, and establishing work standards. The work leader provides input into supervisory decisions made at higher levels, including signing leave requests and approving work hours. This level may include positions performing supervisory elements that do not fully meet the criteria for the next level in this factor.

The staff authority is a pacesetter who has a unique level of technical expertise in a field or profession that, as part of the assignment, is critical to the success of an agency. This authority directly influences management decisions at least on an agency-wide basis. Managers and peers recognize and seek this level of technical guidance and direction for development of an agency-wide system or regarding the application of a statewide system within the agency or to its clients. An example is a position with agency-wide authority to guide managers on how to examine assets of an institution in receivership and tax implications.

FINANCIAL/CREDIT EXAMINER IV H8F5XX

Concept of Class

This class describes the first supervisory or senior authority level. Positions in this level have responsibility for actions, which may affect the pay, status, or tenure of others. Some positions may be authorities outside the agency for matters related to examinations in one of the specialty areas. This class differs from the Financial/Credit Examiner III class in the Line/Staff Authority factor and possibly in the Purpose of Contact factor.

Factors

Allocation must be based on meeting all of the three factors as described below.

Decision Making

The decisions regularly made are at the process level, as described here. Within limits set by professional standards, the agency's available technology and resources, and program objectives and regulations established by a higher management level, choices involve determining the process, including designing the set of operations. For example, supervisory positions establish the processes for reporting violations and deficiencies to supervisors, management, and governing boards. The general pattern, program, or system exists but must be individualized. This individualization requires analysis of data that is complicated. Analysis is breaking the problem or case into parts, examining these parts, and reaching conclusions that result in processes. This examination requires the application of known and established theory, principles, conceptual models, professional standards, and precedents in order to determine their relationship to the problem. As an example, positions decide the viability of type's of supervised status to place problem institutions based on the standards of the industry. New processes or objectives require approval of higher management or the agency with authority and accountability for the program or system.

Complexity

The nature of, and need for, analysis and judgment is formulative, as described here. Positions evaluate the relevance and importance of management theories, disclosure concepts, and auditing principles in order to tailor them to develop a different approach or tactical plan to fit specific circumstances. While general policy, precedent, or non-specific practices exist, they are inadequate so they are relevant only through approximation or analogy. In conjunction with theories, concepts, and principles, positions use judgment and resourcefulness in tailoring the existing guidelines so they can be applied to particular circumstances and to deal with emergencies. For example, positions are resourceful in tailoring guidelines for an institution's continued operation under receivership based on risk concepts used in the insurance industry.

Line/Staff Authority

The direct field of influence the work of a position has on the organization is as a unit supervisor or senior authority. The unit supervisor is accountable, including signature authority, for actions and decisions that directly impact the pay, status, and tenure of three or more full-time equivalent positions. At least one of the subordinate positions must be in the same series or at a comparable conceptual level. The elements of formal supervision must include providing documentation to support recommended corrective and disciplinary actions, signing performance plans and appraisals, and resolving informal grievances. Positions start the hiring process, interview applicants, and recommend hire, promotion, or transfer.

The senior authority is a pacesetter who has a unique level of technical expertise in a field or profession that, as part of the assignment, is critical to the success of an agency. It is an essential component of the work assignment that has been delegated by management to the position. This authority directly influences management decisions beyond the agency. Managers and peers seek this level of technical guidance and direction as the designer of a statewide system or in a subject area for other areas of state government. Managers and peers, both internally and externally to the agency, rely on this pacesetter when making decisions regarding the direction that policy, programs, and systems should take in the pacesetter's field of expertise. An example of such senior authority would be the designer of a statewide system for regulating the financial operations associated with branch banking.

FINANCIAL/CREDIT EXAMINER V H8F6XX

Concept of Class

This class describes the second-level supervisor or a leading authority. Positions in this level supervise multiple units through subordinate supervisors or are considered an authority on the examination of financial institutions beyond the state. This class differs from the Financial/Credit Examiner IV class in the Decision Making and Line/Staff Authority factors and possibly in the Complexity factor.

Factors

Allocation must be based on meeting all of the three factors as described below.

Decision Making

The decisions regularly made are at the interpretive level, as described here. Within limits of the strategic master plan and allocated human and fiscal resources, choices involve determining tactical plans to achieve the objectives established by the higher management (strategic) level. This involves establishing what processes will be done, developing the budget, and developing the staffing patterns and work units in order to deploy staff. For example, positions decide the budget and staffing for unit reorganizations to handle additional examinations of financially troubled insurance companies. This level includes inventing and changing systems and guidelines that will be applied by others statewide. By nature, this is the first level where positions are not bound by processes and operations in their own programs as a framework for decision making and there are novel or unique situations that cause uncertainties that must be addressed at this level. Through deliberate analysis and experience with these unique situations, the manager or expert determines the systems, guidelines, and programs for the future. For example, positions establish guidelines on approving certain types of investments by category of financial institution.

Complexity

The nature of, and need for, analysis and judgment is strategic, as described here. Positions develop guidelines to implement a program that maintains the agency's mission. Guidelines do not exist for most situations. In directive situations, positions use judgment and resourcefulness to interpret circumstances in a variety of situations and establish guidelines that direct how a departmental/agency program will be implemented. For example, positions establish agency guidelines on tracking the progress of troubled or problem banks.

Line/Staff Authority

The direct field of influence the work of a position has on the organization is as a manager or leading authority. The manager must be accountable for multiple units through the direct supervision of at least two subordinate Unit Supervisors; and, have signature authority for actions and decisions that directly impact pay, status, and tenure. Elements of formal supervision must include providing documentation to support recommended corrective and disciplinary actions, second-level signature on performance plans and appraisals, and resolving informal grievances. Positions start the hiring process, interview applicants, and recommend hire, promotion, or transfer.

The leading authority is a pacesetter who has a rare level of technical expertise in a field or profession that, as part of the assignment, is critical to the success of an agency. This authority directly influences management decisions and peers in the profession outside of state government. Managers and peers throughout the nation recognize and seek this level of technical guidance and direction because of the recognized expertise in a subject area.

Definitions

Banking: The application of financial, accounting, and auditing principles and industry practices to determine the financial condition and solvency, management, and operations of banking institutions.
Financial Services: The application of financial, accounting, and auditing principles and industry practices in determining the financial condition and solvency, management, and operations of state regulated savings and loans and similar financial institutions.
Consumer Credit: The application of financial, accounting, auditing, and investigating principles in determining rates and charges to consumers by lenders and their performance levels.
Insurance: The application of financial, accounting, auditing, and actuarial principles to examine insurance companies, their products, and management.
Real Estate: The application of auditing and real estate management principles in determining industry compliance with statutory requirements and acceptable business and financial practices.
Securities: The regulation of licensing of dealers/brokers, the regulation of issuance of types of securities, and the investigation of claims and complaints by consumers.

Entrance Requirements

Minimum entry requirements and general competencies for classes in this series are contained in the State of Colorado Department of Personnel website. For purposes of the Americans with Disabilities Act, the essential functions of specific positions are identified in the position description questionnaires and job analyses.

History of Changes Made to Class Description

The following is a summary of changes made to this class description.

June 30, 2015: Updated and removed the purpose of contact.
Effective July 1, 2009: Abolished Financial Services occupational group and converted classes into Professional Services. Proposed published 6/30/2008 and final 7/31/2008.
Revised July 1, 2000: Changed class codes and eliminated specialty areas. Published as proposed 4/17/2000.
Effective September 1, 1993: Job Evaluation System Revision project. Published as proposed 5/24/1993.
Revised July 1, 1991: Added Option D and changed nature of assignment for range C, Financial/Credit Examiners (A1255-60).
Revised July 1, 1989: Changed class codes, titles, nature of work, entrance requirements, and added range A, Financial/Credit Examiners (A1255-60).
Revised July 1, 1984: Changed class codes, titles, grades, nature of work, and entrance requirements, Financial/Credit Examiners and Security Examiners (A1255-58,60-65).
Created July 1, 1984: Financial/Credit Examiner Supervisor I (A1259).
Revised July 1, 1982: Changed entrance requirement, Assistant Securities Commissioner (A1266).
Revised March 1, 1982: Changed nature of work and entrance requirements, Securities Examiner (A1261-62).
Created July 1, 1981: Chief Securities Examiner (A1265).
Created January 1, 1975: Financial/Credit Examiners, Securities Examiners, Assistant Securities Commissioner (A1255-58, 60-62,66).

Summary of Factor Ratings

Class Level	Decision Making	Complexity	Line/Staff Authority
Financial/Credit Examiner Intern	N/A	N/A	N/A
Financial/Credit Examiner I	Defined	Patterned	Individual Contributor
Financial/Credit Examiner II	Operational	Patterned or Formulative	Individual Contributor
Financial/Credit Examiner III	Process	Patterned or Formulative	Work Leader or Staff Authority
Financial/Credit Examiner IV	Process	Formulative	Unit Supervisor or Senior Authority
Financial/Credit Examiner V	Interpretive	Formulative or Strategic	Manager or Leading Authority

Minimum Qualifications

Valid as of: February 23, 2024

This document includes the following levels:

Class Title	Class Code
Financial/Credit Examiner Intern	H8F1IX
Financial/Credit Examiner I	H8F2XX
Financial/Credit Examiner II	H8F3XX
Financial/Credit Examiner III	H8F4XX
Financial/Credit Examiner IV	H8F5XX
Financial/Credit Examiner V	H8F6XX

History of Changes Made to Minimum Qualification

The following is a summary of changes made to this minimum qualification.

Feb. 23, 2024 (Whole Document)

New format (updating to adhere to accessibility standards)
Updated minimum qualifications to align with the Skills-based Hiring initiative

Oct. 20, 2017 (Whole Document)

Made grammatical changes.

Apr. 4, 2017 (H8F6XX)

Removed language regarding specifying that two years of supervision is required, depending on the assignment. It is suggested that if supported by the job analysis and position description, that this be made a preferred qualification.

Apr. 4, 2017 (H8F3XX, H8F4XX, H8F5XX, H8F6XX)

Removed special requirements/qualifications. Special requirements or qualifications can appear as a special qualification in the job posting, if justified in the position description and job analysis.
Current substitutions state that certification/licensure/registration can substitute for up to one year of experience. New language states that ‘additional, appropriate education,’ can substitute for experience. The agency can determine how they define education.
Language referring to, “at the agency’s discretion,” was removed.

Apr. 4, 2017 (Whole Document)

Language was standardized
Made language consistent with a year-for-year approach to substitutions for both education and experience

Mar. 1, 2017 (Whole Document)

Part of the 2017 MQ Project
New format

Class Description and Minimum Qualifications for H8F - Financial/Credit Examiner