Director of Security

The Department of Commerce is hiring an experienced leader to manage and oversee its Securities Division.

This position opens at a critical juncture for the division, as emerging technology, including the advent of artificial intelligence investment advice and shifting approaches to cryptocurrency regulation, change the landscape for securities and investments regulation.

If you have an established track record of success in the Securities Industry, whether public or private, excellent communication, organizational, and leadership skills, and a passion for securities policy, apply now for this unique role and join our senior leadership team.

This position is an in-person role in Salt Lake City, Utah.

ROLES AND RESPONSIBILITIES

As the Division Director over the Division of Securities, you will oversee a technically complex division within the Department, exercising executive-level discretion and judgment to ensure the integrity and stability of Utah's securities markets. You will serve as a securities expert, providing strategic direction and guidance to your team and representing the Division's interests before the legislature and other stakeholders. Roles and responsibilities will include, but not be limited to the following:

Strategic Leadership:

• Develop and implement strategic plans to address emerging trends and challenges in the securities industry.
• Provide vision and direction for the Securities Division, ensuring alignment with the Department's overall mission.
• Forecast the impact of proposed legislation and business dealings on the securities market.

Regulatory Oversight:

• Ensure compliance with all applicable state and federal securities laws and regulations.
• Direct investigations and case strategies related to securities violations.
• Interpret and apply complex laws and regulations.
• Provide approval for administrative action and/or criminal prosecution.

Policy Development and Advocacy:

• Draft and propose legislation to enhance securities regulation.
• Represent the Division before the legislature to secure operational funding and advance policy objectives.
• Oversee critical education initiatives to inform Utahns how to avoid common scams including Ponzi Schemes
• Review and approve legislative and fiscal notes.
• Act as a public advocate and defend administrative policy.

Stakeholder Engagement:

• Build and maintain strong relationships with industry leaders, regulatory agencies, and public interest groups.
• Provide public information and education on securities-related matters.
• Respond to and resolve complex complaints from investors and other stakeholders.
• Participate in planning sessions, pre-hearing conferences, task forces, and negotiating sessions.

Team Management:

• Supervise and mentor a team of professionals, fostering a high-performance culture.
• Manage workload, delegate assignments, and conduct performance evaluations.
• Recruit, train, and develop staff.
• Initiate corrective or disciplinary actions including terminations.

Financial Management:

• Develop and manage the Division's budget, ensuring efficient allocation of resources.
• Prepare and defend budget recommendations, requests, reports, proposals and/or projections.

Operational Management:

• Develop, direct, and evaluate programs.
• Manage division-wide programs.
• Ensure publications and information released to the media/public are accurate and consistent with agency objectives.

The ideal candidate will possess exceptional communication skills, both written and verbal, enabling them to clearly and persuasively present complex information to diverse audiences. They will be a highly analytical and strategic thinker, capable of effectively solving problems and interpreting intricate regulations. This individual will demonstrate proven leadership experience, with a track record of successfully managing and developing teams. Furthermore, the ideal candidate will have demonstrated proficiency in budget management, ensuring the efficient allocation of resources.

MINIMUM QUALIFICATIONS

• 5 or more years of progressive experience in the securities industry, including legal, regulatory compliance, enforcement, or investment management.
• Familiarity with state and federal securities laws and regulations.
• Working knowledge of emerging trends in the securities industry, including the impact of artificial intelligence and cryptocurrency.

PREFERENCES

• Experience as a Securities attorney in a law firm, in-house, or government setting.
• 3 or more years of supervisory or managerial experience, demonstrating the ability to lead and develop teams.
• Experience as an investment advisor or securities broker, or passage of FINRA qualification examinations.
• In-depth knowledge of Utah's securities laws and regulations.
• Knowledge of the legislative process in Utah.
• Experience working for a Government agency.
• Experience managing in a Government agency.

WHY YOU SHOULD JOIN OUR TEAM

The Securities Director will work directly with a member of the Governor’s Cabinet in a senior leadership role within the Department of Commerce. This position will provide unique opportunities to shape securities policy through management of the Division and input on potential legislation.

AGENCY

The Department of Commerce is the licensing and registration agency for Utah's professional and business community. Its mission is to strengthen trust in Utah’s commercial activities through education, licensing, enforcement, and regulation. We provide oversight of business registrations, trademarks, Uniform Commercial Code filings, professional and occupational licensing, consumer protection, public utilities, securities, real estate and residential mortgage lending. Please visit our website for more information about our agency.

BENEFITS

This position is eligible for a rich benefits package, generous paid time off, and great work-life balance. You can learn more about offered benefits here.

• Health Insurance - Public Employee Health Program (PEHP):
• 3 medical plan options. Choose a Traditional or High Deductible Health Plan. There is an Opt-Out Cash Benefit option for those that have other medical insurance coverage.
• 5 dental plan options, with an Opt-Out Cash Benefit option for those that have other dental insurance coverage.
• 4 vision plan options under EyeMed or OptiCare
• Retirement - Utah Retirement Systems (URS):
• Employees who have any service credit with an employer covered by the Utah Retirement Systems prior to 7/1/2011 are in the Tier I Public Employees System.
• Employees hired on or after 7/1/2011 and who have never been in the URS retirement system have two options for retirement in the Tier II System.
• Tier 2 Hybrid Retirement System. Employer contributes an amount equal to 10% of your salary between both plans (pension and 401(k))
• Tier 2 Defined Contribution Plan. Employer contributes an amount equal to 10% of your salary to a 401(k) plan only.
• Employer contributions to your 401(k) are vested after four years.
• Paid Time Off:
• Normally for new hires, annual leave and sick leave are accrued at 4 hours per pay period each (4 hours annual, 4 hours sick). But since this position is a director reporting to the Deputy Director, new hires will receive the max accrual of 7 hours for annual leave per pay period.
• We have 12 paid holidays.