Lorie L. Hovanec
Lorie L. Hovanec, Director
Ms. Hovanec has a broad background which includes experience as a practicing trusts and estates attorney, Vice President with Wells Fargo Trust Company, as well as having worked in the insurance industry and as a community college instructor. She earned her Juris Doctorate from Willamette University College of Law and holds two bachelor degrees: one from the University of Alaska Anchorage in Anthropology with an emphasis in Alaska Native cultures and one in Foreign Language from Pacific Lutheran University. She has lived in Alaska for nearly 40 years and worked in many areas of the state, including Kodiak, the Mat-Su Borough, Juneau, and Anchorage.
Ms. Hovanec is responsible for oversight of the Division of Banking and Securities with a $3.5 million budget and over $12 million in annual revenue. She manages the Division's programs through a professional staff of 22 employees and develops and promotes investor and financial education outreach programs within the state.
The Division structure includes: (1) the Banking Section, which charters, licenses and examines state financial institutions, including banks, bank holding companies, trust companies, credit unions, BIDCOs, payday lenders, premium finance companies, and small loan companies; (2) the Consumer Finance Section, which licenses, examines and investigates complaints against non-depository institutions, including money service businesses, and mortgage broker/lenders and originators; and (3) the Securities Section, which registers securities, licenses and examines those who sell securities and provide investment advice, reviews exempt securities offerings, and investigates investor complaints and reports of fraud. This section also administers the Alaska Native Claims Settlement Act (ANCSA) proxy regulations.