Securities Department Director

Chicago, IL

Full Time

Securities

Senior Executive



Office of the Illinois Secretary of State
Alexi Giannoulias

Job Title: Securities Department Director

Division: Administration

Union: None

Location: 69 W Washington St, Chicago, IL - Cook County

Salary: Commensurate with experience

Job description

The Illinois Securities Department regulates the offer and sale of securities in Illinois. The Department licenses securities offerings and entities that engage in broker-dealer activities or investment advisory services, as well as investigates complaints from investors, taking legal action where the law is violated. Further, the Department works with other state and federal legal authorities in referring cases of criminal activity for criminal prosecution, as well as working with the Illinois Attorney General’s office to take legal action to return funds to defrauded investors.

The Director of the Securities Department is responsible for administering the statute which controls a major segment of the investment industry in the State of Illinois - the Illinois Securities Law of 1953, the Franchise Disclosure Act, and other related laws; plans, coordinates supervises, reviews and analyzes the activities of a legal and technical staff, directly and through subordinates, for legal conformity with the requirements of the Illinois Securities Law and the Franchise Disclosure Act. The duties of the position specifically involve:

1. Working with the Secretary of State, the Secretary of State General Counsel’s office, and administrative officers on all matters involving the Securities Division, including the determination of the policy direction of the Securities Division, after consultation with legal and technical staff; exercising discretion in the imposition of escrows of securities, escrows of funds, suitability standards for specific types of securities offerings and escrow of franchise fees, and content of disclosure statements for franchise offerings to Illinois investors; and determining whether applications for the registration of securities in the State of Illinois will be granted or not granted based on compliance with the Illinois Securities Law of 1953 and the General Rules and Regulations thereunder and whether applications for the registration of franchises in the State of Illinois will be deemed effective.

2. Prepares amendments to existing laws and confers with the legislative branch of government relative to matters affecting those laws. Proposes administrative rules as needed to implement the legislative intent of securities laws; oversees the preparation of the Securities Division budget; interviews prospective employees prior to hiring.

3. Directs enforcement attorneys in the investigation and prosecution of violations of securities laws; recommends injunctive action to the Attorney General's office and criminal prosecutions to the State’s Attorney's offices.

4. Addresses legal associations; fraternal associations, trade associations and law schools on topics related to securities

5. Conducts formal and informal conferences with attorneys, underwriters, accountants, and related parties contemplating a public offering of securities and franchise offerings, or having proposed offerings on file with serious substantive and technical deficiencies.

6. Revises and evaluates findings, reports, Special Orders, Notices of Legal Action, legal interpretation letters, and Registration Notices for accuracy and conformance to the Securities Law, Franchise Disclosure Act, and related securities laws.

7. Devises and develops plans and procedures for revisions of registration forms in coordination with the Federal Securities Act forms and franchise-related forms of other states.

8.Confers with representatives of agencies of other states and federal entities to prevent, detect, and prosecute violations of the Illinois Securities Law, the Franchise Disclosure Act, other states' Blue Sky Laws or the FederalSecurities Act; confers with high-ranking executive officers of national and regional stock exchanges on matters affecting the investing public.

9. Confers with representatives of numerous other state agencies for specialized background information in connection with securities and franchise offerings.

10. Cooperates and works with the Secretary of StateGeneral Counsel’s office and representatives of the Attorney General’s office, State's Attorneys and other state departments or enforcement agencies in preventing, detecting, or prosecuting violations of the Illinois Securities Law of 1953 and the Franchise Disclosure Act.

Job Type: Full-time

Salary: $105,000.00 - $130,000.00 per year

Benefits:

Dental insurance
Employee assistance program
Flexible spending account
Health insurance
Paid time off
Vision insurance

Schedule:

Day shift
Monday to Friday

Ability to commute/relocate:

Chicago, IL 60601: Reliably commute or planning to relocate before starting work (Required)

Education:

Bachelor's (Required)

Experience:

Managerial: 5 years (Required)
Securities or Franchise Law: 5 years (Required)

Willingness to travel:

25% (Preferred)

Work Location: In person

Application Process:

Please visit https://ilsos.applytojob.gov/apply to apply by completing the online application; you may also upload a resume or other attachments as needed.

Equal Employment Opportunity Employer. Applicants must be lawfully authorized to work in the United States.

Applicants are considered for all positions without regard to race, color, religion, sex, national origin, sexual orientation, age, marital or veteran status, or the presence of a non-job-related medical condition or disability.

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Securities Department Director

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