The superintendent of financial institutions shall be the chief executive officer of the division of financial institutions.

(A) The superintendent shall have at least five years of experience in the financial services industry or in the examination or regulation of financial institutions.

(B) The superintendent shall appoint a deputy superintendent for banks, who shall possess at least one of the following qualifications prior to the deputy superintendent's appointment:

(1) Not less than five years of experience as a senior level officer in a bank, savings and loan association, or savings bank, a bank holding company, or a savings and loan holding company or as a senior level manager or senior professional with a primary business of, or professional focus on, auditing or providing professional advice to such institutions;

(2) Not less than five years of experience as a senior level supervisor in the examination or regulation of banks, savings and loan associations, or savings banks;

(3) Not less than a total of five years of experience in any combination of the positions described in divisions (B)(1) and (2) of this section.

(C) The superintendent shall appoint a deputy superintendent for credit unions, who shall possess at least one of the following qualifications prior to the deputy superintendent's appointment:

(1) Not less than five years of experience as a senior level officer in a credit union or as a senior level manager or senior professional with a primary business of, or professional focus on, auditing or providing professional advice to credit unions;

(2) Not less than five years of experience as a senior level supervisor in the examination or regulation of credit unions;

(3) Not less than a total of five years of experience in any combination of the positions described in divisions (C)(1) and (2) of this section.

(D) The superintendent shall appoint a deputy superintendent for consumer finance, who shall possess at least one of the following qualifications prior to the deputy superintendent's appointment:

(1) Not less than five years of experience as an owner, officer, or senior level manager of one or more consumer finance companies , as a senior level manager of a mortgage banking affiliate of a bank, savings and loan association, savings bank, bank holding company, or savings and loan holding company, or as a senior level manager or senior professional with a primary business of, or professional focus on, auditing or providing professional advice to consumer finance companies;

(2) Not less than five years of experience as a senior level supervisor in the examination or regulation of consumer finance companies;

(3) Not less than a total of five years of experience in any combination of the positions described in divisions (D)(1) and (2) of this section.

(E) The deputy superintendents appointed by the superintendent of financial institutions pursuant to this section shall serve in the unclassified civil service.

Amended by 132nd General Assembly File No. TBD, HB 49, §130.21, eff. 1/1/2018.

Effective Date: 09-26-1996 .