Department of Finance asks JFAC for six positions to bolster exams and cybersecurity; governor trims two

The Joint Finance-Appropriations Committee on Jan. 21 heard the Department of Finance’s base budget and a 2026 enhancement request that would add six full‑time positions and $816,600 from state regulatory funds to expand exam and cybersecurity capacity.

The request, presented by Noah Peterson of the Legislative Services Office, would add IT‑focused examiners and specialist investigators across the Financial Institutions Bureau, Consumer Finance Bureau and Securities Bureau; the governor recommended all of the agency’s listed items except two financial investigator 3 positions requested for the Consumer Finance Bureau.

The committee was told the Department of Finance has 72 full‑time positions and operates primarily from a dedicated state regulatory fund, which covers roughly 99% of the agency’s appropriation. The agency described three dedicated funds: state regulatory funds (operations), a mortgage recovery fund (statutorily limited to $50,000 in annual administrative use), and a securities investor‑education fund (statutorily limited…