Director of Banking

The New Jersey Department of Banking and Insurance seeks a highly motivated, experienced leader to head the Division of Banking. Reporting to the Commissioner of the Department of Banking & Insurance, and nominated by the Governor, the Director of Banking supervises all state functions and duties that relate to the supervision and regulation of banking and depository entities. Specifically, the Director of Banking oversees inspections, examinations and regulatory filings to protect consumers and ensure safe and sound operations of financial institutions under supervision.

The Division of Banking includes the Office of Consumer Finance, which regulates non-bank financial institutions in the consumer finance, money service business, and mortgage industries. The Division also includes the Office of Depositories, which supervises the operations of over state-chartered depository institutions and processes and reviews banking related applications. The Division of Banking serves as the state regulatory authority overseeing and supervising companies that operate as federal and private student loan servicers in New Jersey and provides the Office of the Student Loan Ombudsman.

Additionally, the Director oversees the Real Estate Commission, which administers and oversees New Jerseys real estate licensing laws and establishes standards of practice for the real estate brokerage profession. The Director of Banking will also represent the Department externally and manage relationships with regulatory peers, inter-agency partners and industry groups.

15 years of experience required. Ideal candidates will demonstrate: 1) expertise in the banking industry regulatory matters, including internal audit and compliance, 2) strong leadership skills, including the ability to manage distributed teams across multiple workstreams and jurisdictions, and 3) experience driving process improvements and customer service-oriented initiatives.

The position of Director of the Division of Banking is appointed by the Governor, with the advice and consent of the Senate, and shall serve at the pleasure of the Governor. In the absence of the Commissioner of the Department of Banking and Insurance, the Director of Banking may be designated acting Commissioner for all matters relating to Banking.

The Director of the Division of Banking shall not, within the five years immediately preceding appointment as Director of the Division of Banking, have been employed by, acted as agent or contractor for, or managed or controlled any entity, other than an entity affiliated with a banking institution as defined pursuant to section 1 of P.L.1948, c. 67 (C. 17:9A-1), that was engaged in the insurance business pursuant to Subtitle 3 of Title 17 of the Revised Statutes, Title 17B of the New Jersey Statutes, or P.L.1973, c. 337 (C. 26:2J-1 et seq.).